KARACHI: The news of restoration of deposed chief justice Iftikhar Muhammad Chaudhry Monday brought back the investor confidence to Karachi Stock Exchange (KSE), pushing the 100-Index up by 313 points to 6063.
The Index crossed the psychological barrier of 6,000 points on the back of aggressive buying by the investors propelled by the government’s early morning decision of reinstating the judiciary sacked on November 3, 2007.
The announcement of Prime Minister Yusuf Raza Gilani of restoring the deposed CJ and filing of review petition in the Supreme Court on Sharif brothers ineligibility cast away all the uncertainties that persisted in the previous months at KSE, dealers said.
The trade volume was recorded at 210.06 million shares.
Pakistan's market lost 58 percent of its value during 2008 due to economic turmoil, political uncertainty and incessant militant attacks, particularly in the troubled northwest.
No comments:
Post a Comment