PSX gains 1446 points after Imran withdraws Islamabad ‘lockdown’ call


KARACHI: Pakistan Stock Exchange (PSX) registered a hefty gain and the index easily crossed the 41000 level after Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan backed down from his threat to shut down the federal capital in the wake of Supreme Court’s decision to set up a judicial commission to investigate Panama leaks.
PSX 100-index registered an increase of more than 1400 points, which was the single largest increase in the history of stock market. The index was up around 1446 points to stand around 41340 points.
“The market has almost recovered which was lost last week and only 150 odd points left to reach the October 20 level of 1454 points,” said Zeeshan Afzal, director research at Insight Securities.
Investors welcomed the decision of the Supreme Court for setting the commission for the Panama leaks, Afzal said.
Moreover, the S&P Rating Agency lifted Pakistan’s rating to B from B- which also gave strength to the mood of the investors.


Please enter your comment!
Please enter your name here