The capital market began the session on Wednesday on a bullish note, extending a rebound focused on the aid of losses of the day before, while investors have responded to the hope that regional tensions could stabilize.
Pakistan Pakistan Benchmark KSE-100 index of Pakistan Pakistan has climbed an intraday summit of 111,881.02 points, winning 1872.00 points, or 1.70%, compared to the previous fence of 110 009.02.
During the session, the index also affected a minimum of 109,961.94 points, reflecting a marginal drop of 47.08 points, or 0.04%.
“Pakistani shares are now 1.7% or 1850 pts in the middle of expectations that climbing could cool,” said Mohammed Sohail, CEO of topline Securities.
Tensions between Pakistan and India increased after New Delhi launched an unrealed military operation targeting several Pakistani cities. The action followed the Pahalgam incident in India illegally occupied Jammu and Kashmir (Iiojk), where an attack on tourists led India to initiate “the Sindoor operation”.
Islamabad rejected the allegations of India and qualified strikes as an unjustified assault, causing martyrdom of at least 31 Pakistani civilians. Pakistan retaliated by lowering five Indian Air Force jets and several drones.
Meanwhile, the feeling of investors remains focused on the next IMF board meeting scheduled for May 9, which will decide a tranche of $ 1.3 billion under prolonged funds (EFF).
The agenda also includes Pakistan’s demand for performance criteria adjustments and access to additional funds via resilience and sustainability installation (RSF).
Approval of the package would increase total disbursements as part of the current program to around $ 2 billion.
Tuesday, KSE-100 had dropped by 3.13%, or 3,559.48 points, ending at 110,009.02 following a strong sale pulled by geopolitical uncertainty.