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KSE-100 surges 1,800 points after Panamagate case verdict

The benchmark KSE-100 index has reacted positively to the Panama case verdict, with the index surging more than 1,869 points in the moments following the verdict.

Volumes surged as 126 million shares worth Rs12.46 billion were traded.

However, the benchmark index could not maintain the full momentum and adjusted to a gain of approximately 1,000 points in the hour after the verdict was announced.

The Panama Papers scandal had taken a toll on the stock exchange in recent weeks, with the market mostly hovering between 47,000 and 49,000 points. Yesterday’s trading session had seen the greatest single day volatility when the benchmark index made an enormous swing of 1,668 points between the intra-day high and low.

Courtesy : Dawn News

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