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.
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