The Pakistan Stock Exchange KSE-100 Index recorded a positive trading today, recording gains of 933.68 points, equivalent to a 1.89 percent increase, ultimately closing at 50,365.15 points. This milestone was last achieved six years ago.
According to financial consultancy firm Tresmark, the last time the index had surpassed the 50,000-point mark was in May 2017 when it closed at 50,592 points.
The Pakistan Stock Exchange index experienced a dip on the previous day, attributed to a global equity sell-off due to geopolitical tensions in the Middle East and the depreciation of the Pakistani rupee against the US dollar.
Notable trading activity was reported in stocks such as K-Electric Limited, Pakistan Refinery Limited, Air Link Communication Limited, World Call Telecom Limited, Sui Northern Gas Pipelines Limited, and Pakistan Petroleum Limited.
Among the top performers were Jubilee Spinning & Weaving Mills Limited, First Punjab Modaraba, AN Textile Mills Limited, and Sitara Energy Limited.
Conversely, the top decliners included Pak Agro Packaging Limited, 786 Investments Limited, Ashfaq Textile Mills Limited, and Bilal Fibres Limited.
Chief Justice Qazi Faez Isa Hints at Addressing Military Court and General Election Cases
Meanwhile, Chief Justice of Pakistan, Justice Qazi Faez Isa, has suggested that the military court case and the general election case may soon be addressed by the Supreme Court.
Justice Isa made these remarks during a hearing of a petition filed by employees of the Pak-Arab oil refinery. The petitioner’s lawyer has requested a hearing to take place in 15 days.
Chief Justice of Pakistan, Justice Qazi Faez Isa, has suggested that the military court case and the general election case.
Chief Justice Isa explained that the refinery case would need to be postponed for two months, as the court is gearing up to tackle more challenging cases that would leave little time for routine petitions. He also mentioned that the general election case and the military courts case were on the verge of being scheduled for proceedings.
Cases filed under Article 184(3) are on hold while the Supreme Court deliberated on the Supreme Court Practice and Procedure bill. With a full-court bench subsequently affirming the bill’s constitutionality, these cases can now be scheduled for hearings once again.
The military court case has been adjourned by a larger bench during the tenure of the previous chief justice following an assurance from the attorne
