The Pakistan Stock Exchange (PSX) kicked off the week on a strong note, with the market rising by over 700 points during intra-day trade on Monday, bolstered by political certainty.
In recent days, there had been significant discussion surrounding a constitutional amendment that the government was attempting to introduce. However, after burning the midnight oil in the wee hours of Monday, the ruling party successfully passed the contentious legislation.
By midday, the benchmark KSE-100 index had surged by 700.25 points, or 0.82%, reaching 85,950.34 points, up from the previous session’s close of 85,250.09 points.
Sana Tawfik, an economist at Arif Habib Limited, attributed today’s rally to the renewed political clarity, indicating that stability in governance has positively impacted investor sentiment.
This is a developing story and is being updated with more details.
