Stocks staged strong rebound on Wednesday as news filtered into the market relating to a warm welcome accorded by international fund managers to the Pakistan’s offer of five-year sovereign sukuk.
There were indications that the government had received bids of $2.3 billion against the target of $1bn.
The KSE-100 index rose by 230.73 points or by 0.74 per cent to close at 31,454.47 points.
For the time being investors set aside worries over the heating up of political temperature in the wake of arrival of the cleric-turned-politician Tahirul Qadri of Pakistan Awami Tehreek (PAT) and a major protest rally on Nov 30 called by Pakistan Tehreek-i-Insaf (PTI).
Foreign portfolio outflows continued for the second day with a net sale of $2.43 million worth stocks by foreign investors.
The volumes stood high at 246m shares compared to 160m shares traded the earlier day.
