Staff Report
KARACHI: Pakistan Supreme Court historic verdict on Panama case against Prime Minister Nawaz Sharif brings a new life to Pakistan Stock Exchange.
Its benchmark index jumped by 3,000 points in two days. On Friday, the PSX-100 Index jumped by nearly 1,000 points and closed at 49,743.43 points, showing more than 2 per cent increase.
On Thursday, when the judgement was announced, the index rose by more than 1,900 points.
Investors and businessmen welcome the court’s verdict of forming a Joint Investigation Team (JIT) to probe the allegations against the Sharif family.
On the judgement day, the PSX-100 Index was at between 47,000 to 49,000 points for several days but the market jumped by 1,900 points as the verdict was announced.
A five percent gain was recorded after the judgment was announced by the Supreme Court.
It should be noted that Supreme Court of Pakistan has ordered Prime Minister Nawaz Sharif to appear before a joint investigation team which will be formed to probe the Panama Papers scandal.
Officials from the Inter Services Intelligence (ISI), Military Intelligence (MI), State Bank of Pakistan (SBP), National Accountability Bureau (NAB) along with other state institutions.