KARACHI: As investors appeared to brush aside tensions between India and Pakistan for the time being, stocks recovered sharply from their early losses on Tuesday, buoyed by hopes that an impending IMF board meeting will likely approve a loan for Pakistan.
Amid increased volumes and ongoing investor interest, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) rose 808 points, or 0.71%, to close at 114,872.18.
Throughout the day, the market surged, reaching an intraday high of 115,040.58, which was barely below its record highs, and a low of 112,935.56 at the end of the day.
Volumes increased as well; more than 185 million shares were exchanged, bringing the total value to Rs22.38 billion. At 114,063.90, the previous closure was noted.
