Investor sentiment saw a turnaround on Friday, with the stock market clawing back yesterday’s losses, as a lack of fresh escalation on the geopolitical front offered much-needed relief.
“After falling sharply by 6% yesterday due to drone attacks, Pakistani stocks have recovered and are up 2% in the first 30 minutes of trading on Friday,” said Topline Securities CEO Mohammad Sohail.
“So far, there has been no news of any major escalation helping in restoring confidence,” he added.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 105,946.01 points, gaining 2,419.2 points, or 2.33%, from the previous close of 103,526.81.
The index recorded a low of 103,792.35, still up 265.54 points, or 0.26%, indicating steady upward momentum through early hours.
This is a developing story and is being updated with more details
