KARACHI: The bulls staged a comeback at the Pakistan Stock Exchange (PSX) on Tuesday cheering the finance minister’s assurance the much-awaited International Monetary Fund (IMF) programme will be revived within two days.
Constant assurance from the top leadership that the stalled $6 billion International Monetary Fund (IMF) programme will be revived this week strengthened investors’ sentiment as players cherry-picked stocks that lost valuation during the last bearish spell.
The benchmark KSE-100 index traded between hope and despair, which eventually let loose the bulls, who pulled the bourse into the green.
The KSE-100 index gained since the morning bell rang, but some dips were seen at regular intervals. The uptrend turned steeper at midday as the index once again breached the 42,000-point mark.
At close, the benchmark KSE-100 index closed at 42,525.95 points after surging 748.97 points or 1.79%.