Stocks Observer. com

Bullish sentiments were witnessed at the Karachi stock market on the last trading day of the week Friday on support from intense buying activities as State Bank of Pakistan hinted at discount rate cut in the next monetary policy review on August 15. The Karachi Stock Exchange (KSE) 100-share index increased by 229.17 points or 3.06 percent to close at 7,720.93 points as compared to 7,491.76 points of the previous trading session. The KSE 30-share index closed at 8,195.93 points with a gain of 275.91 points. The KMI 30 index closed at 11,674.75 points with a surge of 353.64 points. Analysts said that the KSE 100-share index made a massive gain despite opening negatively as investors took positions across-the-board on International Monetary Fund’s (IMF) positive remarks on consideration over $4 billion loan for Pakistan’s economic revival. The market turnover went up by 40.92 percent and traded 140.36 million shares as compared to previous session’s 99.60 million shares. The overall mark...