Karachi: Pakistani stocks opened higher yesterday despite concerns over political instability, but dealers said investors were expected to remain cautious for the time being.
The US-backed government lost its parliamentary majority on Sunday when the Muttahida Qaumi Movement (MQM) announced it would go into opposition over government fuel price policies that it said were "unbearable" for Pakistanis.
Preventing a drop
President Asif Ali Zardari expressed full confidence in beleaguered Prime Minister Yousuf Raza Gilani as he scrambled to save his coalition and prevent the fall of his government.
The Karachi Stock Exchange's benchmark 100-share index was up 0.63 per cent at 11,924.60 by 0445 GMT, after falling 1.4 per cent on Monday.
