Pakistan stocks teeter following Musharraf’s death sentence, recover
Trading on the Pakistan stock market altered following the news on the sentence of death penalty for former military dictator Pervez Musharraf. The PSX was seen to then recover.
It began postive on Tuesday, continuing its aggressive trend before steeply dropping, losing almost 500 points moments after the news broke. It picked up and regained 200 points in a matter of minutes after the fall.
The market shut down a day after rallying past the 42,000 point mark.
The uptick stayed on Tuesday trading hit an intraday peak of 42,056 points.
The trading had been going well with buyers flooding in.
The index marched past a 13-month high to close at 41,644 points on Monday. This was the first time it has happened since November the previous year.