Karachi: After hitting a two-and-a-half month low the previous day, Pakistani stocks ended more than 3 per cent higher on Tuesday following hopes of a reintroduction of margin buying, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 3.12 per cent, or 296.63 points, higher at 9,813.05, on a turnover of 81.6 million shares.
"There are expectations that the authorities will introduce a margin trading product in the coming days," said Sajid Bhanji, director at brokers Arif Habib Ltd.
The Securities and Exchange Commision of Pakistan (SECP) called an emergency meeting yesterday with the KSE authorities, to resolve outstanding issues regarding margin trading. Details of the meeting were not available.
The Asian Development Bank said mid-August economic growth could be 3 per cent.
