After the 26th Amendment was enacted, investors who had been closely following the political backroom deals over judicial changes gorged on blue chips on Monday, sending stocks surging higher. This was done to capitalize on the ongoing earnings season.
The parliamentary body, following an extended sitting, adopted the constitutional amendments that give the legislators the authority to choose the top justice of Pakistan’s Supreme Court. a decision that provoked strong condemnation from opposing parties, who claimed it was an attempt to weaken the legal system.
After reaching a high of 86,172.79 points in early trading, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Shares Index jumped 807.42 points, or 0.95%, to finish at 86,172 points. This was up from the previous session’s close of 85,250.09 points.
