KARACHI: The Pakistan Stock Exchange (PSX), on Wednesday, experienced a significant surge over 1000 points in market, driven by newfound clarity on the political landscape.
As a result of this positive development the market led to a notable upsurge in the KSE-100 index benchmark. As of 10:14 am on Wednesday, the index surged to 61,519.17 points, marking an impressive increase of 1,054.93 points or 1.74% from its previous close of 60,464.24 points on Tuesday.
This clarity emerged following the official announcement of an alliance between the Pakistan Peoples’ Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N). This alliance, confirmed on Tuesday, signifies a pivotal step towards government formation at the Centre.
With both parties now united under a shared vision for governance, investors gained confidence in the stability and predictability of the political environment.
This surge in the stock market reflects investors’ optimism and enthusiasm about the prospects of a stable government formation, which is seen as conducive to economic growth and market stability.
