KSE recovers 84 points on fresh buying

ISLAMABAD: Share prices at Karachi Stock Exchange (KSE) recovered on Tuesday after cautious trading on Monday, spurred by hopes thatties between strategic allies the United States and Pakistan areimproving, analysts said.

The Karachi Stock Exchange (KSE) benchmark 100-share indexended 0.60 percent, or 84.9 points, higher at 14,313.67 points,with a volume of 123.2 million, compared to Monday's close of 14,228.77 points.

"There have been positive statements from both the United States and Pakistan about progress on issues, which helped lift the market today," said Atif Zafar, a research analyst said.

Pakistan's top civilian and military leaders are expected tomeet Tuesday night to discuss the re-opening of importantoverland NATO supply routes to neighbouring Afghanistan.

Islamabad suspended the routes after a friendly fireincident involving NATO aircraft killed 24 Pakistani soldiers inNovember last year. The episode plunged already troubled tiesbetween Pakistan and the United States to their lowest pointsince Islamabad joined the U.S.-led war on militancy in 2001.

Pakistan has received billions of dollars in aid in return,described by some analysts as critical to Pakistan's strugglingeconomy. The unstable, nuclear-armed South Asian nation has,however, often been described as an unreliable ally. (Reuters)