The May 11, elections have breathed a new life into the Karachi Stock Exchange and the hundred index has crossed all time high of 20,000. The results of the election have renewed investors confidence, and the business friendly PML-N victory has enhanced the faith in the financial market. This much needed boost comes after weeks of uncertainty during the election campaign. The doubts are now largely over and stocks are beginning to rise steadily, with several blue chips amongst the major gainers. According to analysts, the decisive election result has been the main reason for the impetus in the stock market. Contrary to the expectation of a hung Parliament and weak coalition government, the election outcome has given PML-N a solid majority in the parliament thus improving the chances of a stable government, which is a good sign for the market.
AWAIS SARWAR,
Karachi, May 16.