KARACHI: The Pakistan Stock Exchange witnessed a bullish trend on Thursday as Investors rejoiced at Pakistan’s 11th general elections and Pakistan Tehreek-e-Insaf’s (PTI) victory.
The Pakistan Stock Exchange saw a significant increase in activity during afternoon trading, a day after the country voted for its second consecutive democratic transfer of power, as the benchmark KSE-100 index gained 749 points to close at 42,089 points.
A strong government, signified by majority seats in the National Assembly, is widely seen by investors as a positive for Pakistan that is heading towards another bailout due to a looming balance of payments crisis. The agenda is likely to be at the forefront of economic planning for the new government.
The post-polls session at the PSX saw the index climb 797 points to touch an intra-day high of 42,136.06 before profit-booking erased close to half the gains. At noon, the KSE-100 was at the 41,852 level, an increase of 513 points or 1.24%. Stocks across the board gained with cement, banks, and steel sectors attracting attention.
