After the 26th constitutional amendment was approved by the Senate and the National Assembly, the Pakistan Stock Exchange witnessed a strong bullish trend today and the benchmark SE-100 index gained 711 points.
According to the PSX website, the KSE-100 index rose 711 points or 0.83 percent to 85,961 at around 12 noon on the first day of the trading week, which had closed at 85,250 the previous day.
It should be noted that after the Senate, the 26th Constitutional Amendment Bill was also approved by the National Assembly with a two-thirds majority.
The session of the National Assembly which was convened at 6 p.m. on Sunday began after several hours of delay at 11:30 pm under the chairmanship of Speaker Ayaz Sadiq, which was adjourned at approximately 11:58 pm, after which the session resumed at 12:00 a.m. It happened at 5:00 p.m. and it continued until 5:00 a.m. on Monday morning.
In the session of the National Assembly, Prime Minister Nazir Tarar presented a motion to present the amendment, 225 members of the assembly voted for the approval of the motion while 12 members voted against it.
It may be recalled that on October 16, the benchmark KSE-100 index in the Pakistan Stock Exchange reached a high of 86,205 after increasing by 365 points.
Owais Ashraf, director of research at AKD Securities, said that investors are optimistic about the improvement in promises of additional financing from the ongoing Shanghai Cooperation Organization summit in Pakistan and the visit of the Chinese premier.
On October 9, the Pakistan Stock Exchange benchmark SE-100 index rose 627 points to hit a new high of 86,000. It was closed at 669.
On October 8, there was also a strong bullish trend and the benchmark KSE-100 index rose by 753 points to touch an all-time high of 85,663 points.
On October 7, the KSE-100 index closed at 84,910 with an increase of 1378 points or 1.65%.
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