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Midday: Pious hope keeps KSE afloat, gains 53 points

Midday: Pious hope keeps KSE afloat, gains 53 points

KARACHI: The agreement may seem fragile in the federal capital but the ongoing hectic parleys and hope for an amicable resolution to the prevailing political standoff kept stocks afloat and the KSE-100 index gained 53 points or 0.18 percent to reach 29567.43 in the midday trading on Monday.
Although the market failed to sustained its gains of 207.04 points in early trading at the opening of the day on Monday.
The market opened with positive sentiments and kept on marching upward, giving boost to the investors’ confidence.
Investors were comforted as they sensed a thaw in the political crisis since both the negotiating teams – Govt vs Imran Khan’s led PTI and Tahirul Qadri’s PAT — claim progress in talks.

Talking to reporters following the three-hour meeting — held at the residence of PTI secretary general Jehangir Tareen — PTI vice chairman Shah Mehmood Qureshi declared that “meaningful dialogue has begun” and that both sides were making “serious efforts to rescue the nation from the prevailing impasse”. This was the first time the PTI expressed such positive sentiments about the fate of the talks.