Shares at the Pakistan Stock Exchange traded in the green on Monday, gaining nearly 500 points, with the analysts attributing the ongoing trend to clarity on the government structure.
The KSE-100 index gained 904.03, or 1.44 per cent, to stand at 63,719.84 at 1:03pm from the previous close of 62,815.81. It finally closed at 63,305.93, up 490 points or 0.78pc.
Mohammed Sohail, chief executive of Topline Securities, credited the rally to “clarity on the new government structure”.
Tahir Abbas, head of research at Arif Habib Limited, also attributed the “clarity on the political front regarding the formation of the new government” to the upward movement.
However, he highlighted that “robust results announcement” boosted investor confidence. Abbas said investors will continue to closely monitor the economic roadmap of the newly elected government, including the new International Monetary Fund programme and the new budget.
