Dawn : Pakistan stocks up on Musharraf resignation

Pakistan stocks up on Musharraf resignation

KARACHI, Aug 18 (AFP): Stocks jumped 4.5 percent on Monday after President Pervez Musharraf announced that he was leaving office after nine years in power, dealers said.

The benchmark Karachi Stock Exchange KSE-100 Index finished the day up 460.91 points to close at 10,719.62.

“The market has gone upward now that the uncertainty regarding the country's political scenario is over with the resignation of Pervez Musharraf,” said analyst Azhar Ahmad Batla of WE Brokerage House.

“The market could grow more and the rupee could get stronger against the dollar if the country sees good governance in future.”