KARACHI: The stock market after starting the current week with losses on Tuesday showed strong signs of recovery on the back of positive news from the political and economic front.
The benchmark KSE-100 Index was trading at 48,043 points up 31 points at 12:35 pm. The Index went as high as 48,154.56 points and declined as low as to 47,931.78 points.
It seems the market is resisting fall below 48,000 points levels, traders and analysts said. After yesterday’s fall the Index bounced back on the back of positive news, such as an increase in exports and clearance on US-Pakistan relations, that helped support market sentiments today, they added.
According to the data issued by the Pakistan Bureau of Statistics (PBS) exports from Pakistan increased by 16.42 per cent during the first eleven months of the current fiscal year compared to the corresponding period of last year.