KARACHI: Pakistan Stock Exchange (PSX) on Monday witnessed bullish trend as KSE-100 index gained nearly 500 points, with the analysts attributing the ongoing trend to clarity on the government structure.
The KSE-100 index gained 490 points to stand at 63,304 from the previous close of 62,815.81.
Pakistan Stock Exchange (PSX) experienced a week of positive trends and notable growth in business activities on the hopes of political stability after general elections.
At the close of the business week, the KSE-100 index stood at 62,815 points, marking a gain of 2,943 points or (4.92%).
During the week, the KSE-100 index reached its peak at an impressive 62,815 points, reflecting the confidence of investors in the hopes of political stability in Pakistan after the February 8 polls.
Read more: PSX WITNESSES BEARISH TREND, LOSES 391.59 POINTS
Trading during the week the market witnessed a volume of total 1.69 billion shares worth Rs63.50 bln were transitioned.
Earlier today, Pakistan Muslim League-Nawaz nominee, Maryam Nawaz, has been elected as the first female chief minister of Punjab province amid a boycott of proceedings by the Sunni Ittehad Council (SIC).
The PML-N Senior Vice President Maryam Nawaz, who has become the first-ever female chief minister of Punjab, won the elections after receiving 220 votes.
Her opponent, Sunni Ittehad Council’s (SIC) candidate Rana Aftab Aftab Ahmad, received zero (0) votes due to the boycott.
The daughter of three-time prime minister has also become the fourth member of the Sharif family to get elected as Punjab CM.
PML-N supreme Nawaz Sharif, his brother Shehbaz Sharif and Hamza Shehbaz had earlier served as Punjab chief minister between 1985-2022.
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