Stock market jumps nearly 200 points

KARACHI: The benchmark KSE-100 index increased by 198 points, quickly after opening on Wednesday. Early in the business day, the index was seen trading at 48,33.65 points after opening at 48,140.27 points.

Within almost an hour of trading, the share market had amassed over 150 points gain, with energy and FMCG companies leading the rally. Trading volume was also heartening with nearly 43 million shares changing hands by 10:30 a.m. already.

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A range of companies from different sectors showed green trading, indicating that the market confidence was improving altogether as well.

The performance can be attributed to the continuous strengthening of the Pakistani Rupee, which appreciated against the US Dollar for the 23rd consecutive session and closed at Rs 279.50 to the USD.