The main opposition party’s proposal for a “do-or-die” demonstration on November 24 caused political instability, but the stock market managed to pull off a huge comeback on Thursday, breaking the 97,000 mark for the first time.
After reaching an intraday high of 97,437.15 points, the benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) jumped 1781.94 points, or 1.86%, to close at an all-time high of 97,328.39.
“Stocks bullish led by scrips across the board as investors weigh drop in government bond yields and robust economic data for current account surplus, remittances, exports, and foreign direct investment,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities, also highlighting the factors driving today’s record surge.
