Don’t be so surprised, PSX: Image Pakistan is doing well

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Every week, Profit combs through the announcements on the Pakistan Stock Exchange (PSX) website for the benefits of our readers, in case we see an interesting development in some company. Invariably though, instead of seeing material developments, we see the same story over and over again: PSX asks a company why their stock price is shooting up. It is one of the interesting quirks of the PSX that it is somehow simultaneously a) a robust, well-performing stock exchange that consistently tops lists of stock exchanges in Asia, and b) has a long history of, for lack of better word, market manipulation. So , if a company’s stock price really increasing for a reason? Is someone just meddling? Who knows?

 

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