Bourse posts strong gains despite political impasse

Index shoots up by almost 800 points, market closes at 28567.74 points


Web Desk August 29, 2014

KARACHI: A day after the an FIR was filed against 21 persons, including Prime Minister Nawaz Sharif and Punjab Chief Minister Shahbaz Sharif, the Karachi Stock Exchange’s (KSE) benchmark 100-share index shot up by 793.31 points.

The market has been falling steadily for the past week, leaving investors baffled, but it finally took a turn for the better on Friday.

The 2.86% percent increase landed the index at 28,567.74 at market close.

The index rose much more rapidly today than it had fallen this past week with a 0.13% or 36.92 point drop on Thursday landing the index at 27,774.43 and 1.53% and 0.97% decreases on August 27 and August 26 respectively.

Investors have been exercising caution as the political deadlock between the opposition and the government continued.

COMMENTS (13)

Imran Qadri | 7 years ago | Reply

@Pakistan stock broker

Indian bhai,stop commenting here using Pakistani user ID, are you too embarrassed to reveal that you're an Indian?

Pakistan stock broker | 7 years ago | Reply

Thanks Dawood Bhai, my portfolio is up now, i was worried a lot for a month.

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