Stocks Observer. com

KARACHI: Positive rally continued unabatedly at the Karachi stock market on Thursday due to support from intense buying activities as Pakistan achieved the International Monetary Fund (IMF) targets for net foreign assets and net domestic assets to get tranche of $847 million. Analysts said that the IMF intimation of economic recovery coupled with rise in international equity markets, foreign interest in the market and exchange rate stability were the reasons for the market’s recovery. The Karachi Stock Exchange (KSE) 100-share index gained 259.19 points or 3.74 percent to close at 7,191.09 points as compared to 6,931.90 points traded in the previous session. The KSE 30-share index surged 337.91 points and closed at 7,803.16 points as compared with 7,465.25 points of the previous session. The KMI 30 index also increased by 433.32 points to close at 10,195.57 points as against 9,762.25 points of the previous session. The market turnover went up by 40.36 percent and traded 290.94 million