Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Wednesday as shares gained over 1,000 points, with analysts attributing the gains to consensus over the formation of the government.
After multiple rounds of talks, an agreement was reached last night between the PML-N and the PPP to share power in order to form the next government. The agreement ended 10 days of intense negotiations after an inconclusive general election did not return a clear majority.
Last week, growing doubts about the formation of a new coalition government amid raging protests against alleged manipulation of election results across the country kept the market sentiment depressed.
Today, bulls took strong hold of the KSE-100 index as soon as the opening bell rang. According to the PSX website, the index was........