The Karachi stock market closed higher on Tuesday amid celebration by investors due to removal of withholding tax (WHT) on share sale. The Karachi Stock Exchange (KSE) 100-share index gained 10.88 points or 0.14 percent to close at 7,549.37 points as compared to 7,538.49 points of the previous trading session. The KSE 30-share index surged 9.77 points and closed at 8,112.64 points as compared to 8,102.87 points. The KMI 30 index also increased by 98.65 points to close at 11,343.88 points as against 11,245.23 points. Analysts said that expectations of fall in discount rates in the near term led both retail and institutional investors to take long-term positions. The market turnover went up by 54.81 percent and traded 197.67 million shares as compared to previous session’s 127.68 million shares. The overall market capitalisation was up by 0.13 percent to close at Rs 2.226 trillion as compared with Rs 2.223 trillion. Out of total 307 companies, 150 closed in the positive zone, 136 in nega...
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