The Pakistan benchmark KSE-100 index rebounded on Friday, increasing 2,419.2 points (2.33%) in intraday trade to reach a summit of 105,946.01, while the feeling of the market stabilized after a high sale on Thursday.
The index had closed at 103,526.81 Thursday after falling 6,482.21 points, or 5.89%, its worst drop for a recorded day. Friday, the exchanges saw no new disruption, helping to restore the confidence of investors.
The attention of investors is now at the IMF board of directors later in the day, where Pakistan hopes to guarantee a disbursement of $ 1.3 billion as part of its current funds in progress.
The Council will also examine the request for Islamabad for access to the installation of resilience and sustainability.
If it is approved, total disbursements as part of the program will reach around $ 2 billion. Recovery follows a volatile session where the index switched between a minimum of 102,420.82 points and a summit of 105,946.01 points.
On Thursday, the actions underwent a day of jostling when the PSX saw its biggest day of a day of 6,482.21 points, because the fears of war between Pakistan and India intensified.
The market initially opened its doors, reaching an intra -day summit of 111,881.02, but the fears of the climbing of border tensions triggered another wave of sale of panic. Trading was interrupted for an hour after KSE-100 lost nearly 7,000 points. Once the trading has resumed, the index continued its spiral down, reaching an intra-day hollow of 101,598.90.
The massive sale followed the markets of market volatility, investors are increasingly afraid of a potential conflict. As the geopolitical risks rose, the market was seized by panic, causing an unprecedented decline.
