Stocks Observer. com

Karachi—Life returned to Karachi Stock Exchange and things took a bright look after suffering gloomy atmosphere at least for last six months. The market saw shapes of green after being gripped of bearish sentiments after the removal of the cap from KSE-100 which gained 40.39points to close at 5,793.57points level while turnover surged by 179% from yesterday to 210.8m shares. In the overall market, bulls were finally able to thrash the bears by 166 to 71 from overall 241 scrips traded today. In fact the driving force behind igniting spark in the market was the injection of Rs20 billion State Enterprise Fund as the National Bank of Pakistan, Employees Old age Benefits Institution (EOBI), State Life of Pakistan and a banking consortium transferred Rs5 billion each to the Fund being managed by National Investment Trust. Resultantly, fresh life in the market was quite visible from the beaming faced of the depressed brokers and investors who suffered heavily due to financial turmoil and susp...