Pakistan Share Market: Pakistani stock market crashed due to election results, Karachi Stock Exchange fell 1700 points.

Pakistan Share Market: Pakistani stock market crashed due to election results, Karachi Stock Exchange fell 1700 points.


Pakistan Share Market: Pakistan Stock Exchange’s benchmark KSE-100 index has fallen to hell today. After this, there was an uproar in the stock market. It is being told that due to confusion over the results of the general elections, a big fall has been seen in the stock exchange. Hammad Zafar of Topline Securities said that no one knows what is going to happen and who will form the next government, so it is understandable how investors are reacting today. The PSX website said the index fell 2,278 points soon after the start of trading. After this it recovered a bit and by afternoon it reached 62,423.60 points from the previous closing level of 64,143.87 with a decline of 1,720.27 points or 2.68 percent.

What are the election results?

The Election Commission of Pakistan (ECP) began announcing election results late Friday night, more than 10 hours after voting ended on Thursday amid allegations of rigging and sporadic violence, and the results included a victory in the elections supported by former Prime Minister Imran Khan’s party. Independent candidates seem to be performing surprisingly well. Counting of votes is still going on in Pakistan. Pakistani officials are counting votes at a very slow pace after the elections held on Thursday. According to the counts so far, independent candidates supported by Pakistan Tehreek-e-Insaf (PTI), disqualified and jailed Imran Khan, have performed surprisingly well. Former Prime Minister Imran Khan is in jail and is banned from contesting elections. Imran Khan (71)’s Pakistan Tehreek-e-Insaf party candidate is contesting as an independent candidate after the country’s Supreme Court stayed the Election Commission’s decision to deprive his party of its election symbol ‘cricket bat’. Has been retained. Voting took place till 5 pm on Thursday but the ECP announced the first official result 10 hours later at 3 am on Friday. Many people expressed concern about this delay and feared that the results could be manipulated.

Commission did not post the result on the website

The ECP has so far officially declared the results of only four Khyber-Pakhtunkhwa (KP) assembly seats and all these seats have been won by PTI-backed independent candidates. The commission has not uploaded a single result of the National Assembly (NA) or other provinces on its website but private media channels showed that PTI-backed candidates are ahead. According to the Express Tribune newspaper, PTI-backed independent candidates have won six NA seats while Pakistan Peoples Party (PPP) has won four and Pakistan Muslim League-Nawaz (PML-N) three. BBC Urdu reported that ‘PTI-backed independent candidates and PML-N won four seats each and PPP won three seats. According to ‘Dawn’ newspaper, PML-N has won four seats, while PTI-backed candidates won three and PPP won two seats.

Nawaz Sharif will become the Prime Minister of the country for the fourth time

Pakistan Muslim League-Nawaz (PML-N) has acknowledged the “overwhelming” turnout in favor of its arch rival PTI but is still hopeful of ousting its chief Nawaz Sharif for a record fourth term. Will become the Prime Minister of. Sharif was considered a strong contender to win the elections because he has the support of the powerful army. According to preliminary results, former Prime Minister and PML-N president Shehbaz Sharif has won NA 123 seat from Lahore with 63,953 votes. Similarly, Balochistan National Party leader Akhtar Mengal won the National Assembly constituency NA-261 by securing 3,404 votes.

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