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Zafar Bhutta
After the announcement of a ceasefire between Pakistan and India, the Pakistan Stock Exchange (PSX) experienced a historic surge in trading activity of the opening day of the week. All the previous records of market gains were shattered, signaling renewed investor confidence and economic optimism.
According to PSX data, the benchmark KSE-100 Index remained bullish by 10,072 points, reaching an unprecedented level of 117,247 points. The surge was so dramatic that within just the first two minutes of trading, the market had to be temporarily suspended for an hour.
As per PSX regulations, trading is halted when the KSE-30 Index rises by more than 5% within a short span. This threshold was crossed at 9:37 AM, prompting the suspension. Trading resumed at 10:42 AM, and the bullish trend continued. By then, the KSE-100 Index had added another 10272 points, reaching a level of 117,247.
In a media briefing at the PSX, prominent businessman Arif Habib addressed the situation. He stated that India had falsely blamed Pakistan for the Pahalgam incident and highlighted the misconception that India was emerging as a regional superpower. “The world now clearly sees the strength of Pakistan’s armed forces and its people,” he said, adding that India had misled even its own citizens.
Habib expressed that Pakistan had emerged with significant positive momentum, and the capabilities of its military had sent a clear message globally. He emphasized that a large portion of the Muslim world places its trust in Pakistan, and recent developments have renewed their belief in the nation.
He further stated that Pakistan had skillfully and successfully hit military targets, which led to widespread criticism and embarrassment for India on the global stage. “A wave of good news has followed in Pakistan, and the nation stands united,” he added.
Discussing economic developments, Habib revealed that the Prime Minister had held a budget-related meeting and hinted at offering relief to both the industrial sector and salaried individuals. “The world has now seen that Pakistan is a strong and stable country,” he said. He also pointed out that China had given a clear message of support to Pakistan.
Habib acknowledged that several sectors in Pakistan remain underutilized and stressed that the benefits of economic recovery must reach the common man. He indicated that the International Monetary Fund (IMF) now holds a slightly more positive view of Pakistan’s economy, and that signs of improvement may become visible in the upcoming national budget. “The confidence of friendly countries in Pakistan has grown,” he added.
He also noted a reduction in interest rates, which have now come down to 11%, making dollar-based investments less attractive. He observed that while the real estate sector is currently not very active, equity investment is a better option, as it is accessible to investors at all levels.
According to Habib, the priority now should be to achieve macroeconomic stability. “This is the right time to initiate a dialogue on a Charter of Economy,” he said. “Most political parties in Pakistan follow similar economic policies, and they all recognize the private sector as the engine of growth.”
He concluded by calling on politicians to foster a culture of resolving differences. “This is the moment to inspire hope,” he said. “Confidence among the youth in Pakistan will grow, and soon, the world will recognize Pakistan as not just a military power, but an economic power as well.”
It is important to note that just a few days earlier, on Thursday, May 8, the stock market had experienced a steep decline of 6,948 points, which also led to a temporary suspension of trading. Volatility continued the following day, but the current bullish trend has brought renewed optimism.
The Writer is Islamabad based Journalist
