Pakistan’s KSE-100 Reference Index recovered on Friday, increasing 2,419.2 points (2.33%) in intradic negotiation to reach a maximum of 105,946.01, since the feeling of the market was stabilized after the steep sale of Thursday.
The index had closed to 103,526.81 on Thursday after falling 6,482.21 points, or 5.89%, its worst day of a single day registered. Early trade on Friday did not see new interruptions, helping to restore investor confidence.
The attention of investors is now at the meeting of the IMF Executive Board later today, where Pakistan hopes to ensure a disbursement of $ 1.3 billion under its extended fund installation in progress.
The Board will also review the Islamabad application for access to the resistance and sustainability installation.
If approved, the total disbursements under the program will reach approximately $ 2 billion. The recovery follows a volatile session where the index was balanced between a minimum of 102,420.82 points and a maximum of 105,946.01 points.
On Thursday, the actions underwent a day of stampede, since the PSX witnessed its greatest day of a single day of 6,482.21 points as the fear of war between Pakistan and India intensified.
Initially, the market opened strong, reaching a maximum intradic of 111,881.02, but the fears for the growing border tensions triggered another wave of panic sales. The trade stopped for an hour after the KSE-100 fell almost 7,000 points. Once the trade resumed, the index continued its descending spiral, reaching a minimum of 101,598.90 per day.
The mass sale followed the previous volatility days of the market, with increasingly fearful investors of a possible conflict. As the geopolitical risks were mounted, the market seized panic, which resulted in an unprecedented decrease.
