Upward rally continues on second day

LAHORE - Upward rally after stepping down of Pervez Mushrraf continued on second day though it lacked force, as investors were worried about the delay in restoration of November second judiciary.
The KSE benchmark 100 index gained another 199.44 points to stay at 10,911.06 level after hitting 11,061.45 points during intra-day high.
Capital market experts were of the view that market future direction depended on the solution of judges’ issue. “Restoration of the deposed judges will trigger an upward rally of at least 1,000 points otherwise index may resume declining trend in next two to three days,â€� they added.    
Dealers said that market remained buoyant as investors applauded the decision of the President’s resignation. The index remained in green zone with total turnover rising to a healthy 211.24 million shares versus 158.9 million shares. This was the first time after 37 trading sessions when volumes surpassed the 200 million shares level.
Earlier the market in continuation of last day rally opened 15.02 points plus at 10734.64 points and resumed upwards drive. Opening remained today low and market after initial upwards push in which it hits 11061.45 points high lost direction and came down. After midday it again started rising but failed to breach previous high.
Free float KSE-30 index also opened in plus column and after day long trading in which it went up to 12763.28 points level. It closed at 12,606.56 points level after adding 326.66 points in previous closing. While, All shares index after putting up 129.40 points closed at 7821.17 points level.