KARACHI: Stocks steadily built on the overnight gains and rose by 271.59 points or 0.92 percent to take the Karachi Stock Exchange benchmark KSE-100 to 29857.19 points, shrugging off several pressing problems the country has been grappling with at different fronts, in the midday trading on Tuesday.
The KSE-100 opened on an upbeat note and kept on upwards march aggressively, boosting confidence of the investors.
Once the market plummeted to 29585.60 points but rebounded quickly to leave little room for bears to haunt back. The KSE remained buoyant due to another round of talks between the government and the protesting Pakistan Tehreek-i-Insaf (PTI) in which Shah Mehmood Qureshi claimed that some progress had been made between the two sides.
Several market players think the market has priced in the effects of political turmoil. The investors even ignored the flash flood triggered by torrential rains that have been roaring down at Punjab districts, playing havoc with life, property and standing crops.
LPG prices may drop by Rs30-40 as Iranian supplies resume
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