Stocks rose Friday as investor confidence substantially improved after weeks of uncertainty ended with an accountability court’s long-awaited decision in the £190 million case against former prime minister Imran Khan and his wife, Bushra Bibi.
The benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) closed at 115,272.08 after rising 1,435.34 points, or 1.26%.
Following the court’s ruling, the market saw an increase in trading today. Ahfaz Mustafa, CEO of Ismail Iqbal Securities, stated, “The verdict puts an end to the general uncertainty that had been causing a hangover for the past two weeks.”
“It also helped to boost morale, giving investors confidence that the government is still steadfastly following the IMF plan,” he continued.
Judge Nasir Javed Rana of the Accountability Court found former Prime Minister Imran Khan guilty in a long-awaited ruling.
