The Pakistan Stock Exchange crossed the magic number of 1 lakh for the first time.
The Pakistan Stock Exchange (PSX) touched the 1 lakh mark for the first time. According to the report by the Pakistani website Dawn, shares of PSX rose by more than 900 points on Thursday. On Wednesday, the PSX closed at 99,269.25 points, today it reached 100,216 points.
The stock market continues to rise in Pakistan for two days. On November 26, the PSX had risen to 94,180 points. Then, as soon as Imran Khan’s performance ended yesterday morning, the stock market went up. The maximum increase was observed on Wednesday. There was a jump of around 6,000 points in the last 2 days.
PSX stock was around 40,000 points 16 months ago. It has increased by 150 percentage points in less than a year and a half.
The PSX could reach the five lakh mark by 2034. Mohammad Sohail, CEO of Topline Securities, said that in the late 90s, the PSX was around 1,000 points. This figure has increased 100-fold over the past 25 years. He said that Pakistan’s stock market could reach around 5 lakh points in the next 10 years.
Sohail said there was enthusiasm among investors due to the improvement in economic policies with the help of the IMF. Stock market performance improved due to higher than expected inflation and interest rates.
Imran Khan’s party protest ended, army chased him out. The reason for the rise in PSX shares is said to be the end of the protest by Imran Khan’s Tehreek-e-Insaf (PTI) party. The PTI protest ended on Wednesday morning. The party said the government wanted to violently suppress their peaceful protest. To stop this, they ended the protest.
Imran Khan’s supporters reached D-Chowk in Islamabad on Tuesday afternoon. The Parliament, Prime Minister, President’s office and the Supreme Court are located in this area. However, Pakistani police and army dispersed the protesters after 8 p.m.
PTI supporters clashed with security personnel in the federal capital throughout the day on Tuesday. More than 60 people were injured in the clashes following the use of tear gas and rubber bullets by both sides. To deal with the violence, Section 245 was imposed in the capital Islamabad. The order was given to shoot the demonstrators on sight.
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