The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) posted its highest-ever single-day gain of over 10,000 points on Monday following the Pakistan-India ceasefire.
The benchmark KSE-100 index gained 10,123 points to close at 117,297 points, up 8.63 percent over the previous closing.
After days of intense military exchanges between the two nuclear armed neighbors, US President Donald Trump announced a ceasefire between Pakistan and India on Saturday.
Another factor contributing to the market’s surge was Friday’s approval of immediate disbursement of about $1 billion to Pakistan by International Monetary Fund (IMF) under the ongoing Extended Fund Facility (EFF). The lender also allowed an additional arrangement for the $1.4 billion Resilience and Sustainability Facility (RSF).
A total of 730,780,988 shares were traded during the day as compared to 516,295,988 shares the previous trading day, whereas the price of shares stood at Rs. 30.32 billion against Rs. 28.84 billion on the last trading day.
As many as 461 companies transacted their shares in the stock market, 404 of them recorded gains and 26 sustained losses, whereas the share price of 31 companies remained unchanged.
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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