Monday Jul 31, 2017
KARACHI: Investors were active in the stock market as the KSE-100 index went up by over 1,100 points on Monday, when the market opened after a politically charged weekend.
The benchmark index crossed 47,000 points at around 11am.
According to financial analyst Muhammad Sohail, the Pakistan Stock Exchange was facing tumult since the past two months due to the Panama case in the apex court.
However, he added that after the Supreme Court announced its decision — the disqualification of Nawaz Sharif as prime minister on Friday — the market has become stable.
But the market was still 6,000 points below its peak, Sohail maintained. “There is a margin of increase of 1,000 to 2,000 points.”
Out of the 324 companies trading in the market on Monday, the value of shares of 267 companies went up.