PSX up 3,400 points as political instability eases

KARACHI: Just as the Pakistan Stock Exchange (PSX) had tumbled down by over 3,000 points on Tuesday after the opposition party stormed the federal capital, the benchmark index has now recovered over 3,000 points as the party activists finally leave the capital.

Yesterday, the benchmark KSE-100 index had gone down from 98,079.78 points to close at 94,574.16 points. On Wednesday (today), the index grew to 98,160.79 points, gaining 3,586.63 points merely minutes into trading.

The road blockages as a result of the Pakistan Tehreek-e-Insaf’s (PTI) protest had started causing petrol supply shortages, which added to the uncertainty of the market as well. However, with the protest being called off, and the roads being reopened all across the country, the investor confidence is returning as well.

Wednesday’s early morning trading activity showed progress across most sectors, showing an overall growth in the market. The number of traded shares also showed momentum. The stock market is likely to continue the recovery and remain bullish throughout the trading day.

Also read: Normalcy returns to the capital: roads, shops reopen