Stocks Observer. com

KARACHI: The Karachi stock market witnessed a bullish trading session on Thursday due to increasing foreign remittances and declining trend in inflationary numbers, which propelled investors to take positions. The Karachi Stock Exchange (KSE) 100-share index gained 44.71 points or 0.63 percent to close at 7,091.96 points as compared to 7,047.25 points of the previous trading session. The KSE 30-share index increased by 75.29 points and closed at 7,564.36 points as compared with 7,489.07 points. The KMI 30 index surged 10.70 points to close at 10,466.04 points as against 10,455.34 points. “It was another dull day ahead of the federal budget,” said analyst at Topline Sec Mohammad Sohail. “Due to slowing down of inflation, interest in banking and cement stocks was observed.” In case there are no direct taxes on share trading, market is likely to post a small rally after budget, he added. The market turnover went down by 19.11 percent and traded 114.03 million shares as compared to previou...