KARACHI: Amid signs of thaw in the prevailing political impasse that have gripped Pakistan for the past one week, stocks witnessed a sharp rise on Thursday as Karachi Stock Exchange 100-index rose by 200.41 points and crossed the level of 28865.25.
On the other hand, in inter-bank market, the dollar fell to Rs 100.90 as it saw a slight decline of 20 paisa.
The foreign investors with net purchases of $0.21 million worth of stocks also helped to lift sentiments.
The market has been fidgety due to the ongoing protests by Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT).
Bears have been running through the stocks for the past over a week a due to Imran Khan-led PTI and Dr Tahirul Qadri-led PAT’s marches and sit-ins in the capital city of Islamabad. Imran Khan’s call for civil disobedience has also taken its toll on the stocks and other sectors of the economy.
Diesel price cut by Rs134.81, petrol down Rs11.83
ISLAMABAD: In a major relief for inflation-hit consumers, the government has reduced petroleum prices, slashing petrol by Rs11.83 per litre...
