Pakistan Stock exchange makes historic jump as PTI backs down to lockdown Islamabad

[Khan_21]

THE EXPRESS TRIBUNE > BUSINESS
PSX makes historic jump as PTI backs down from threat to lockdown capital
By Salman Siddiqui
Published: November 1, 2016
16SHARES
SHARE TWEET
KARACHI: The Pakistan Stock Exchange (PSX) made a historic jump on Tuesday as Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) postponed its November 2 ‘lockdown’ in Islamabad.

PSX’s benchmark KSE 100-share Index rose the largest gain 1,406.03 points in a single day and closed at 41,299.87. In percentage term, the index rose 3.40%.

“There was a sense in the market that the Supreme Court may give such a decision that’s why the market opened positive and maintained upward journey throughout the session,” said Ali Raza, an analyst at Elixir Securities.

Market watch: Interest seen in select scrips as KSE-100 posts marginal gain

The equity investors acquired stocks across the board where heavy weights in the banking, energy and cement sector played a major role in pulling the index above 41,000 points threshold.

As many as 412 stocks were active during the session, out of which share prices of 356 stocks closed up, 43 down, while remaining 13 closed unchanged.

Earlier during the day, the PTI chief backed down from his threat to shut down the capital city on Wednesday, vowing instead to hold a celebratory rally about the top court’s decision to pursue a case linked to the Prime Minister Nawaz Sharif’s Panama Papers controversy.

 

[Muhammad Omar]

If Imran Khan didn't back from Lockdown the Market would have crashed more to 35000

still Billions lost because of Imran Khan

 

[Kabira]

If Imran Khan didn't back from Lockdown the Market would have crashed more to 35000

still Billions lost because of Imran Khan

Some times oposition need to keep gov on their toes. Can you imagine PPP as oposition? There is a reason PTI have become popular taking PPP place.

 

[Skyliner]

That's a huge jump 1406
14 dinno ka gain ek he din may

 

[Cyberian]

Billionaire Imran Khan should be deported to Israel as he's become a liability to Pakistan's economic growth.

 

[Talwar e Pakistan]

What does it matter? It'll crash, investors will pull out, potential investors will be dissuaded, and ect... due to the Dharna. Lockdown hasnt been stopped; it was only delayed.

 

[Spring Onion]

Billionaire Imran Khan should be deported to Israel as he's become a liability to Pakistan's economic growth.

 

[Hyde]

If Imran Khan didn't back from Lockdown the Market would have crashed more to 35000

still Billions lost because of Imran Khan

Stock market runs on speculation. The billions lost from stock market doesn't count as severe as a minor positive news reverses the trend again. The stocks are higher than its peak level during anarchy march and the temporary downslide would have been reversed to bullish after the 2nd november lockdown was over

 

[Skywalker]

If Imran Khan didn't back from Lockdown the Market would have crashed more to 35000

still Billions lost because of Imran Khan

If ganja did not screw Pakistan the PSX would have crossed 50000 by now, how about that, all you goonies lives are based on ifs and buts.

 

[Bouncer]

Billionaire Imran Khan should be deported to Israel as he's become a liability to Pakistan's economic growth.

I hope that was your attempt at sarcasm.

What does it matter? It'll crash, investors will pull out, potential investors will be dissuaded, and ect... due to the Dharna. Lockdown hasnt been stopped; it was only delayed.

And then it'll rise again. People are pouring in money because they can see that fundamentals are strong and money can be made in PSX.

If ganja did not screw Pakistan the PSX would have crossed 50000 by now, how about that, all you goonies lives are based on ifs and buts.

It is the this government that enabled the index to reach new heights. Stop pulling numbers out of your rear end and learn to give credit where its due.

 

[Finer]

Last time dharna happened cost Pakistan more than 500 billion rupees as the result of hosting cities and towns as hostage, forcibly closing down the local businesses against their wills, and burning infrastructures are not exactly assuring message for the investors.

Precisely why Pakistan stock exchange garnered positive start as the result of PTI backing down. Just to show how terrible it would be for the economy of Pakistan if Islamabad lockdown takes place.

 

[Skywalker]

I hope that was your attempt at sarcasm.



And then it'll rise again. People are pouring in money because they can see that fundamentals are strong and money can be made in PSX.



It is the this government that enabled the index to reach new heights. Stop pulling numbers out of your rear end and learn to give credit where its due.

I only pull one number from my front, I don't need idiots like you to comment on my post, obviously an indiot can't understand the sarcasm intent to.

 

[Finer]

I only pull one number from my front, I don't need idiots like you to comment on my post, obviously an indiot can't understand the sarcasm intent to.

Imran Khan is the best thing ever happened to the whole mankind.

 

[Skywalker]

Imran Khan is the best thing ever happened to the whole mankind.

Thanks for letting me know your mental level. What's makes you think that I am pit follower.

 

[Zibago]

Billionaire Imran Khan should be deported to Israel as he's become a liability to Pakistan's economic growth.

You can send Nawaz to India while you are at it