KARACHI: KSE-100 index gained 53.51 points and closed at 35730.The index however traded amid oscillating sentiments yet showing strong resistance however the market volumes of 428 million shares indicated declining trend when compared to previous haughty market volumes in previous trading session.
The oil based stocks are likely to gain momentum following reports of demand growth following a noticeable drop in global inventories. International oil prices are well poised to regain stability after a noticeable drop in inventories of the major consumers around the globe. In fact oil prices finally managed to rally after positive inventory data. The US Energy Information Administration said crude stocks dropped by more than 4mn barrels versus expectations of a drop of only 184,000 barrels.
