Stock market resistant to political upheavel, gains nearly 500 points


Pakistan stock exchange (PSX)

KARACHI: Bears maintained control over the Pakistan Stock Exchange (PSX) on Tuesday, causing a substantial decline in its benchmark index by over 900 points. Much of this decline was attributed to the political upheaval experience in the country yesterday.

PSX sheds 900 points amidst political uncertainty

However, on Wednesday (today), the benchmark KSE-100 index seemed to have developed resistance against political developments. After opening at 61,841.74 points, the index climbed to the highest of the morning at 62,399.53 points, before settling down to 62,328.51 points around 11 AM. This is nearly 500 points above the opening level.

The growth came from various sectors, showing an overall stability in the market, despite some fluctuations in the KSE-100 movement.

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