KARACHI: The Pakistan Stock Exchange (PSX) continued to rally after KSE-100 index witnessed an increase of 1450 points on Monday morning as country is set to elect a new prime minister with Opposition candidate Shehbaz Sharif having a clear majority in the National Assembly.
The KSE-100 index traded crossed the 45,000 mark today and traded at 45,894 point at the beginning of the day. The PSX began the trading with 1300 points up.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) on Friday reversed its bearish trend soon after its opening and surpassed 44,000 mark, a day after the Supreme Court of Pakistan nullified the deputy speaker’s ruling against no-confidence motion.
The benchmark KSE-100 index gained 411 points as trading continued at 44, 198 in the PSX.
The stock market is being under pressure from Monday when it fell like a house of cards and lost over 900 points amid country’s current political crisis that erupted with National Assembly deputy speaker deeming the no-confidence resolution against Prime Minister Imran Khan “unconstitutional”.
The stock market came under intense selling pressure from the start of trading as the KSE 100-index shed over 1200 points.
The investors said that the PSX is witnessing a bearish trend as the investors are not showing trust in the market after the tense political situation in Pakistan.
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