Pakistan Stock Exchange hits record high

KARACHI: Pakistan Stock Exchange (PSX) made a historic jump during intraday trading on Thursday.

The PSX-100 Index gained 260 points, crossing 42,000 points to touch an all-time new high.

On Tuesday the benchmark 100-index witnessed an upsurge of 1,400 points, regaining its seven-day losses in just a few hours after opposition party Pakistan Tehreek-e-Insaf called off its protest sit-in in Islamabad. The party decided to call off its protest after the Supreme Court’s verdict asking the government to submit its Terms of References over Panama Papers probe.

Trading volume had doubled to 506 million shares and trading value had increased to Rs.17 billion — it had been only Rs.7 billion the previous day.