Stocks Observer. com

Expectations over development of coalition parties kept the Karachi stock market on an upbeat note on Wednesday as retail and institutional investors opted for buying activities. The Karachi Stock Exchange (KSE) 100-share index gained 117.04 points or 1.65 percent to close at 7,198.87 points as compared to 7,081.83 points of the previous session. The KSE 30-share index increased by 129.60 points and closed at 7,647.69 points as compared with 7,518.09 points. The KMI 30 index also surged 139.39 points to close at 10,156.91 points as against 10,017.52 points. Analysts said hectic buying activities were witnessed in the market during the trading session as PML-N was considering joining the federal cabinet, which had a positive impact on the market. The market turnover increased by 46.53 percent and traded 142.02 million shares as compared to previous session’s 96.92 million shares. The overall market capitalisation rose 1.61 percent and closed at Rs 2.143 trillion from its opening at Rs 2