Bulls reigned supreme in the Pakistan Stock Exchange on Wednesday as investors welcomed clarity on the domestic political front.
The benchmark KSE-100 Index gained 926.92 points, or 1.51% to settle at 62,153.84 levels at the closing of the trading session as against 61,226.93 the previous trading day.
Similarly, the KSE-30 Index gained 269.59 points or 1.30% to reach 20,954.7 levels at market closing.
A total of 303.88 million shares valuing Rs14.687 billion were traded during the day as compared to 435.54 million shares valuing Rs15.972 billion the last day.
As many as 342 companies transacted their shares in the stock market; out of which 267 recorded gains and 56 sustained losses while the share prices of 19 remained unchanged.
The three top-trading companies were K-Electric Limited with 33.41 million shares at Rs4.47 per share, Oil and Gas Development with 32.23 million shares at Rs122.01 per share and Pak Petroleum with 15.5 million shares at Rs107.37 per share.
The political uncertainty was dampened a day earlier after the Pakistan Peoples Party (PPP) announced its support to Pakistan Muslim League-Nawaz (PML-N) in the formation of a government in the centre.
The PML-N also announced party Chief Organiser Maryam Nawaz as the candidate for the chief minister of Punjab.
Meanwhile, the Pakistan Tehreek-e-Insaf (PTI) came up with Ali Amin Gandapur’s name for Khyber Pakhtunkhwa’s chief minister slot paving the way for government formation in three provinces as PPP had announced to form government in Sindh.
