Paksitan stocks defy political uncertainty

Karachi: Stocks ended up Tuesday on hopes of healthy corporate results, but dealers said investors were cautious because of a potentially destabilising dispute between the Supreme Court and the president.

The Karachi Stock Exchange (KSE) benchmark 100-share index .KSE ended 0.70 per cent, or 67.87 points, higher at 9,769.68. Volume was at a one-month low as 74.3 million shares were traded.

"The market overcame the political issues in anticipation of upcoming results," said Asad Iqbal, managing director at Esmail Iqbal Securities.

Corporate results for six months ending December 31 will be announced in the coming days. The political uncertainty is likely to keep investors away including foreign investors, he said. "Volume still indicates a jittery investment climate," he added.