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Government of Pakistan

(Federal/State Govt. / Local Govt./Govt. Bodies) Islamabad PAKISTAN
Power News
Pak bourses boom after Chaudhry 's restoration    

As the political turmoil ebbs in Pakistan following the government's decision to reinstate all deposed judges, the country's stock markets soured with the benchmark index surging by over 300 points at one moment.

The bourses went upbeat after President Asif Ali Zardari agreed to reinstate Chief Justice Iftikhar Muhammad Chaudhry and other judges as also meet other demands of opposition leader Nawaz Sharif who then called off his "long march".

The dramatic announcement by Prime Minister Yousuf Raza Gilani put a lid on the ongoing political crisis that raised fears of instability and extremist violence in the country.

In Karachi Stock Exchange, the KSE-100 index was seen persistently recording gains and at one moment surging by over 300 points and breaching the 6000 psychological barrier, TV channels here reported.

The shares prices of all KSE-registered companies recorded an increase of 5 per cent. Lahore and Islamabad stock exchanges also witnessed indexes soaring.

The tense mood on the streets turned festive after the government's early morning announcement, with hundreds of lawyers, civil society activists and opposition political workers coming out to celebrate their victory.

Government of Pakistan 's City : Islamabad
Government of Pakistan 's Country : PAKISTAN
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