PSX: Bulls seen rejoicing the New Pakistan!

KARACHI: As the political noise was settling down bulls entered the bourse in full force on the last trading day of the week.

Benchmark KSE-100 Index closed in the green (42,446) with an augmentation of 485 points today when Rs. 6.1b worth of 111.8m shares changed hands.

Today’s top five traders of the shares were: Bank of Punjab (39m shares); WorldCall Telecom Ltd. (8.4m shares); Unity Foods Limited (7.4m shares); Engro Polymer & Chemicals Ltd. (6.5m shares); Pak International Airline Corp Ltd. (6.2m shares).

A relevant piece published earlier:

Imran Khan has been elected the 22nd prime minister of Pakistan. He was supported by 176 MNAs while his opponent Shehbaz Sharif bagged only 96 votes. 

In his first (12-minute) address as the PM, Imran Khan said that his first priority would be strict accountability of each and every person who had plundered the country’s wealth. Noting that the money meant for the people had been pocketed by few, he promised the nation that he would bring the looted money back from abroad. He said, as prime minister of Pakistan, he would respond to questions twice a month in the House. He said no dacoit would be let scot-free by means of NRO. Acknowledging that he became the PM with the support of youth, Imran Khan promised that measures would be taken for ameliorating their condition. Asserting that PTI was not involved in any rigging, Khan said that he would assist all those who resort to protest on the roads against ‘rigging’. Imran Khan stressed that (unlike others) he was not supported by any dictator. 

PML-N’s Shehbaz Sharif delivered an over 20-minute speech. While talking to the Parliament amid ruckus orchestrated by PML-N MNAs, he claimed that the 2018 elections were the most controversial elections in the history of the country. He said that the Media all over the world had run pieces about the rigging. Pointing towards the 33 constituencies where rejected votes were more than the difference, he demanded the formation of a Parliamentary Commission to probe the matter and present report in 30 days.  

PPP-P’s Bilawal Bhutto Zardari, in his first speech in the House, termed the Parliament as the mother of all institutions and congratulated Imran Khan calling him the PM of the nation, and not of any party. He hoped that the new PM would bury the politics of hatred. He said it was yet to be seen how the new PM fulfilled the promises to the nation. Bilawal Bhutto Zardari held that Pakistan was alone in the world and asked what choice the country had except going to the IMF. (Published on 17th August 2018).