Bulls remain in charge in the Pakistan Stock Exchange on Wednesday as investors’ sentiment improved following clarity on federal government formation.

The benchmark KSE-100 gained 1,094.91 points, or 1.81% to settle at 61,559.16 levels at the market closing.

A day earlier, the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples’ Party (PPP) reached an agreement on sharing power.

Addressing a press conference at Bilawal House, Bilawal Bhutto-Zardari said that Shehbaz Sharif would be the joint candidate for prime minister while Asif Zardari would be the joint candidate for president.

“The party known as Sunni Ittehad Council does not have the numbers to form a government,” Bilawal said.

A total of 362.77 million shares valuing Rs12.492 billion were traded during the day as compared to 364.44 million shares valuing Rs10.928 billion the last day.

As many as 347 companies transacted their shares in the stock market; out of which 242 recorded gains and 84 sustained losses, while the share prices of 21 remained unchanged.