The PSX took off to a troublesome start on Thursday. The lack of buying at the exchange can be attributed to political uncertainty originating from the Senate Election results in which the opposition alliance delivered a shocking victory against the ruling party.

The KSE100 index receded over 1,000 points at the opening bell however was able to recover from those levels as value investors jumped in. Negative sentiment at the bourse can be largely attributed to the shocking victory by PDM candidate Yousaf Raza Gillani over the PTI's Hafeez Sheikh.

Markets were further worried over the announcement that the Prime Minister would seek a vote of confidence by the National Assembly. Foreign Minister Shah Mehmood Qureshi announced that it has been decided to seek a vote of confidence after consultations with PTI party members.

The KSE100 index currently stand 537 points in the red at 45,623. (10:50PM 4/3/2021)