PSX experiences bullish trend as elections conclude peacefully
Pakistan Stock Exchange (PSX) witnessed a whopping surge of 699.59 points within the first hour of opening the day after elections were conducted in Pakistan. These elections are the second civilian transfer of power.
The preliminary election results indicate Pakistan Tehreek-e-Insaaf is taking the lead in the National Assembly race.
The KSE-100 index shot up 710.44 points during the first 50 minutes of trading, touching the high mark of 42,136.06 points and lowest of 41,339.22 points.
Within the first hour of trading, the top sector in terms of turnover was engineering comprising of 13.1 percent of the trading, 12.7 percent for transport, 10.8 percent for cement and 11.6 percent for chemical during the first hour of trading on Thursday.
The top advancers were Sapphire Textile Mills, Wyeth Pakistan, Sanofi Aventis Pakistan and Mari Petroleum.
While the top losers were Indus Motor Company, Shield Corporation and Artistic Denim.
This bullish trend is due to the reason that elections were conducted peacefully without any major unfortunate incident. This has given investors a lot of confidence and this upward trend can be predicted to go on for at least a week unless and until PML (N) starts any protests.