Stock Market’s extraordinary rally; over 1,900 points jump

KARACHI: After posting hike all three days of the current trading week, and breaking the record twice on Tuesday and Wednesday, the Pakistan Stock Exchange (PSX) took an extraordinary stride on Thursday afternoon around 2:03 PM.

The benchmark KSE-100 index jumped by 1,905 points to trade at 89,100 points. This hike was short-lived, but the index maintained its strength.

PSX posts impressive hike as stability returns to power corners

The ballooning value might cause profit taking and lead to losses in the coming few days, but for now the market analysts are attributing the positive sentiment to stable causes, including improving economic indicators, rising political stability and the likely agreement with China towards green financing.

The passage of the constitutional amendment and the nomination of the next chief justice has offered much needed respite to the political uncertainty that was looming over the investor sentiment.

Around 2:30 PM, the index showed this position: