When the stock exchange had begun its upward spiral and the index had already soared to record levels, a PTI voter called me and asked, "Why are Memons so much against Imran Khan?" He said that even though inflation was rampant and nothing had happened to indicate that the country was progressing phenomenally, he couldn't understand why the share market was so optimistic, unless the Memons were manipulating it. I told him that Memons are not the only ones who trade in shares, but the reason (in my opinion) was political stability as there was every indication that Imran Khan would not be released. Every trader feared that in case he was let out of prison, he would do his best to create further chaos.
After the passage of the 26th Amendment, the market has gone crazy. The index, which was hovering between 84,000 and 85,000 has soared to 89,000 today due to the certainty that the government will not be sent home by the apex court's judges (who appear to love Imran Khan).
But the release of Bushra Begum (Imran's wife) and the letter to Biden by 60 US congressmen asking him to get Imran released could stop the bullish trend (unless Imran Khan publicly agrees not to destabilize the country). Let's wait and see.
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