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Pakistan's Stock Exchange crossed the magical figure of 1 lakh for the first time.
Pakistan Stock Exchange (PSX) has touched the 1 lakh mark for the first time. According to the report of Pakistani website Dawn, shares of PSX increased by more than 900 points on Thursday. On Wednesday, PSX closed at 99,269.25 points, today it reached 100,216 points.
The stock market continues to rise in Pakistan for the last two days. On November 26, PSX had gone up to 94,180 points. But as soon as Imran Khan's performance ended yesterday morning, the stock market gained momentum. The maximum rise was seen on Wednesday. There has been a jump of about 6 thousand points in the last 2 days.
PSX shares were around 40 thousand points 16 months ago. It has increased by 150% points in less than one and a half years.
PSX can touch the figure of five lakhs by 2034 Mohammed Sohail, chief executive officer, Topline Securities, said the PSX used to be around 1,000 points in the late 90s. It has increased 100 times in the last 25 years. He said that Pakistan's stock market can touch about 5 lakh points in the next 10 years.
Sohail said that there is enthusiasm among investors due to the improvement in economic policies along with the help of IMF. The performance of the stock market has improved due to higher than expected rise in inflation and interest rates.
Imran Khan's party's protest ended, army dispersed The reason for the rise in PSX shares is believed to be the end of the performance of Imran Khan's party Tehreek-e-Insaf (PTI). PTI's protest ended on Wednesday morning. The party said that the government wanted to violently suppress their peaceful demonstration. To stop this, they ended the protest.
Imran Khan supporters reached D-Chowk in Islamabad on Tuesday afternoon. Parliament, PM, President's office and Supreme Court are located in this area. However, Pakistani police and army pushed back the protesters after 8 pm.
PTI supporters clashed with security personnel in the federal capital throughout the day on Tuesday. More than 60 people were injured during the clash as tear gas and rubber bullets were used by both sides. To deal with the violence, Section 245 was imposed in the capital Islamabad. Orders were given to shoot the protesters at sight.
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