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Wednesday Nov 09, 2016
By
Web Desk

PSX recovers after initial shock at Trump surprise

By
Web Desk
PSX recovers after initial shock at Trump surprise

KARACHI: As the results for the US election tilted in favour of Donald Trump global financial markets reacted with all major benchmark indexes opening in red. The Pakistan Stock Exchange benchmark 100 index too reacted similarly starting the day down by 759 points. 

Closing Tuesday above the 42,000 mark the market plummeted down to 41,355 points at 9:40AM seeing how the US Presidential Elections were unfolding. 

After the initial shock the market started to recover as some semblance of hope for Clinton hung by a thread, by 10:00AM it had climbed back to 41,703 and an hour later was over 41,870 points recovering from the initial shock. 

By noon it was becoming clear that Trump was going to be elected president and the uncertainty was back the PSX which was down by 500+ points. 

It was only after the 45th President Elect of the United States Donald Trump addressed his supporters and assured that he would be president for all of America.

"To all Republicans and Democrats, it's time for us to come together as one nation. I pledge I will be the president of all America"

"It’s been very, very special. Our campaign included people from all backgrounds, religions. We will all work together to make America great again"

By 1:50PM the Pakistan Stock Exchange benchmark 100 index had recovered from all the shock and was down by only 25 points at 42,088 points. 

 

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