KARACHI: Despite the gloom and doom prevailing across the political spectrum and persisting standoff, the Karachi Stock Exchange KSE-100 index shrugged off overnight losses and started the day with a positive note, gaining 364 points or 1.28 percent to cross 28858.77 in early trading on Tuesday.
The market seems to have been responded to the optimism fuelled by hopes pinned on the Supreme Court and the army amid the rallying calls for the PM’s resignation.
On Monday the KSE-100 index lost 74 points and closed at 28493.74 after braving the tremors of clashes between the police and protesters in the Red Zone.
The political crisis in Pakistan remains at fever pitch as both the PML-N led government and protesting Pakistan Tehreek-i-Insaf and Pakistan Awami Tehreek refuse to budge on their respective positions.
Prime Minister Nawaz Sharif stands firm in the face of growing pressure for his resignation, and the protesting PTI and PAT are adamant on standing their ground in the capital’s high-security red zone.
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