100 Index meanders towards greener pastures, nears 49,000 points
Opening trade at 48,534 points on Wednesday, KSE-100 Index is trending on a slightly positive note, having gained 0.60 percent to 48,853 points as of 11:07 AM during early hours.
The benchmark index has been wavering in its path over the past few days, exhibiting volatility based on factors each passing day.
Approximately 26.50 million shares have exchanged hands by now, in transactions totalling almost Rs. 2.75 billion.
Earlier, the Security and Exchange Commission of Pakistan (SECP) proposed amendments to the brokersâ€™ licensing regulations, which, if approved, will push brokers to convert their operations to private or public limited companies.
The stock market has been hesitant due to various factors, including the SECPâ€™s license regulation revisions, Panama hearings, and bombings that shook the nation in February.
KSE-100 Index has persistently avoided entering the 50k range, and it remains to be seen whether it will peak over the aforementioned mark in the near future.