The Pakistan Stock Exchange (PSX) experienced a surge in stock prices following the announcement of a National Assembly session for the induction of newly elected lawmakers and the formation of a six-party unity coalition government.
This development instilled confidence among investors, resulting in a bullish trend. The PSX-100 index gained a notable 383 points, reaching a benchmark of 63,583.
However, trading initially faced some selling pressure before rebounding. Midday, the market reached its peak, hitting 63,622 points.
Despite this upward momentum, there was a slight downturn later in the day, with the index touching a low of 63,055.64 points in the afternoon. The absence of significant positive triggers prevented a sustained upward trajectory.
Overall, the political developments and anticipation of favorable outcomes regarding the IMF loan for Pakistan contributed to the fluctuations in the stock market throughout the trading session.