On Thursday, the Supreme Court ruled in favour of a no-confidence vote against Prime Minister Yousuf Raza Gilani, and the central bank took action to reverse the investor mood. The KSE-100 Index rose by 658 points in the final trading session of the week, while both the volume and value of shares traded also increased. According to Capital Stake, “clarity on political front following Supreme Court judgment and rise in interest rate by State Bank of Pakistan (SBP) functioned as a good trigger for investors” Stocks rose 720.79 points to an intra-day high of $44,507.62, buoyed by a bullish feeling that persisted throughout the day. By Friday’s close, the benchmark index had climbed 657.75 points, or 1.50 percent, to conclude the day at 44,444.58. The index fell 1.57 percent on a weekly basis, despite a gain on the final day of the week. While defending the SBP’s decision to rise the interest rate, the General Secretary of the Exchange Companies Association of Pakistan, Zafar Paracha stated on Thursday while talking with Daily Times that it was the correct judgment made at the appropriate time. He stated that, at the moment, there is almost no government in Pakistan, and that the SBP is the only institution that is doing its job correctly, he added. Zafar Paracha predicted on Thursday that the value of the rupee will stabilize following the hike in interest rates and the ruling of the Supreme Court, and the value of the dollar would decline. A no-confidence motion against Prime Minister Imran Khan was rejected on Thursday by the Supreme Court, which then reinstated the National Assembly, stating that the PM’s suggestion to the president to dissolve it was illegal and contrary to the Constitution. Another request for a NA session on Saturday, April 9, 2022, was made by the speaker, who was also instructed to have a session immediately and not later than 10:30 a.m. on April 9, 2022. According to Tawfik, the rupee, which had been on a record depreciation binge and had plunged to a low of 188 versus the US dollar, has also recovered. There is a general sense of optimism in all markets, she said. And in order to combat inflation and maintain external stability, the SBP’s Monetary Policy Committee (MPC) decided in an emergency meeting on Thursday to raise the key policy rate by 250 basis points (bps) to 12.25 percent. Because of the worsening inflation outlook and rising external instability risks since the last meeting, the committee felt this firm and aggressive policy reaction was necessary. April 19, 2022, marked the date of the next meeting of the MPC. Although this is a difficult time for business, the committee felt compelled to convene early in order to determine the policy rate. Dr. Reza Baqir, Governor of the SBP, presided over the committee meeting. According to Tawfik, “apart from a policy rate hike, SBP’s import curtailment measures were also implemented at the proper moment.” In order to ease the pressure on the yen, the SBP announced on Thursday a 100 percent cash margin on the import of 177 products, which will take effect immediately. Ghani Global Glass Limited has told the stock exchange that the company has successfully installed and fired its 25 TPD (2nd) glass tubing manufacturing furnace. It reads: “With the installation of the second furnace, the plant’s output capacity has increased by 125 percent.” Banks (318.40 points), oil and gas exploration (83.74 points), and cement were among the sectors that helped lift the benchmark KSE 100. (47.77 points). The volume on the all-share index jumped from 141.01 million on Thursday to 227.88 million on Friday. Shares traded increased in value as well, rising to Rs6.79 billion from Rs4.98 billion in the previous day.There were 19.72 million shares in Telecard Limited, followed by 17.72 million in Ghani Global Holdings, and 16.88 million in Treet Corporation. On Friday, shares of 325 firms were traded, with 235 seeing their prices rise, 72 seeing their prices fall, and 18 seeing their prices stay the same.