By Muhammad Kashif
KARACHI: The Pakistan Stock Exchange (PSX) staged a modest recovery on Wednesday as investors resumed buying, encouraged by the formation of a high-level committee to address the business community鈥檚 concerns over the recently introduced taxation measures. The development helped the benchmark KSE-100 index partially recover ahead of the July 19 strike call.
Ahsan Mehanti of Arif Habib Corporation said the recovery was driven by expectations of robust financial results and dividend payouts during the ongoing earnings season. Optimism was also bolstered by reports of the finance minister presenting a positive case to Moody鈥檚, showcasing economic improvements as part of Pakistan鈥檚 bid for a credit rating upgrade.
Topline Securities reported that the KSE-100 index closed at 136,379.97 points, up 440.10 points or 0.32 per cent. The session remained volatile, with the index touching an intraday high of 137,232 and a low of 135,543, as investors engaged in profit-taking, particularly in the banking sector.