Summary The index surpassed previous best of 1406 recorded in November 2016.
KARACHI (Dunya News) - Pakistan Stock Market made new records and recorded a single largest gain of 1905 points after Panama verdict was announced favoring sitting Prime Minister Nawaz Sharif enticed investors, easily breaching 49000 points level.
Pakistan Stock Exchange 100 index since morning fighting strongly and investors build fresh position across the stock market. The index following the verdict for Panama case made a single largest rise of 1905 points, surpassing previous best of 1406 recorded in November 2016.
Buying from local investors especially mutual funds and financial institutions supported the index. Several companies which topped the volume scored gain of 40 paisa to 11 rupees per share. The volume was around 281 million shares and the value changed hands was nearly Rs 17 billion.
As investors were anxiously waiting the Panama outcome, the index decided it final course after the decision.
Supreme Court of Pakistan announcing the highly-anticipated reserved judgment, has on Thursday ordered to constitute a joint investigation team in Panama Papers case. A split judgement was announced which is 3-2 among the bench. Two dissenting notes in the judgement were given by Justice Khosa and Justice Gulzar. The two judges ruled against PM Nawaz Sharif, whereas the other three were in favour of forming a JIT.
