Political clarity propels PSX upwards by over 800 points

The Pakistan Stock Exchange (PSX) experienced a bullish trend on Thursday, with the benchmark KSE-100 index surging by over 800 points during intraday trading.

Data from the PSX website indicates that the market opened on a positive note, driven primarily by clarity on the political front and positive economic developments, encouraging investors to purchase shares.

The benchmark index reached an intraday high of 64,801.63 points. By 2:30 pm, the KSE-100 index reached a level of 64,760.65, marking an increase of 1,057.21 points, or 1.66%. 

The market finally closed at the 64,578.52 level, up by 875.08 points or 1.37% from the previous close.

During intraday trading, the market saw widespread buying, with index-heavy stocks such as OGDC, PPL, and SNGPL showing gains.

In political developments, the 16th National Assembly's inaugural session took place, during which the elected National Assembly members were sworn in.

In economic news, China has agreed to extend a $2 billion loan to Pakistan, a move confirmed by the caretaker Finance Minister, Shamshad Akhtar, in response to a media inquiry.