Market watch: KSE-100 gains 211 points, settles over 44,000

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KARACHI: Stocks rebounded sharply following Tuesday’s panic selling as the benchmark index gained to close above the 44,000 mark.

The KSE-100 Index shot up as soon as trading began, increasing 414 points to hit an intra-day high of 44,299.87. The positivity came on the back of recovery in international markets, which had witnessed a plunge earlier.

However, profit-booking meant gains were short-lived as the index fell to settle over the 44,000-point level.

At close on Wednesday, the KSE-100 Index ended with an increase of 210.98 points or 0.48% to finish at 44,096.49 points.

Elixir Securities’ analyst Ali Raza said equities closed positive as investors tracked international markets that somewhat recovered after witnessing sharp losses lately.

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