The Pakistan Stock Exchange recorded another positive session as the investors’ sentiments got a boost from government formation in Punjab and Sindh on Monday.

The benchmark KSE-100 Index gained 490.11 points or 0.78% and was trading at 63,305.93 levels at the market closing as against 62,815.82 the previous trading day.

A total of 452.86 million shares valuing Rs16.491 billion were traded during the day as compared with 377.97 million shares valuing Rs16.011 billion the last day.

As many as 345 companies transacted their shares in the stock market; out of which 207 recorded gains and 114 sustained losses, while the share prices of 24 remained unchanged.

The three top trading companies were K-Electric Limited with 54.06 million shares at Rs4.44 per share, Kohinoor Spining with 53.37 million shares at Rs4.57 per share, and WorldCall Limited with 22.97 million shares at Rs1.31 per share.

Experts attributed such a bullish run to a Bloomberg report that while quoting a government official said that Pakistan had planned to seek a new loan of at least $6 billion from the International Monetary Fund to help the incoming government repay billions of dollars in debt.

“This positivity can be attributed to the start of the process of forming a provincial government as the Punjab Assembly held its first session,” the Topline Securities had said in its report.