Pakistan, Feb. 26 -- With the ruling elite finally seeing the sense of snapping out of the collision course, optimism seems to have returned to the Pakistan Stock Exchange.

As the index level touched well above 62,000 points, a robust recovery has added to hopes for upcoming days while investors disregard the staggering deficit in the current account on top of steeper power generation costs in the month of January. Of course, these volatile index gains manage to attract a lot of buck money without giving a fair warning about how easy it is for the fortunes to turn their course. A lot still hinges upon the ability of the newly elected government to seal the deal with the IMF to secure further funding in March.

Keeping in view the rampant...