PSX continues bullish run, gains over 800 points

Bulls dominated the trading floor on Thursday as shares gained over 800 points, which analysts attributed to “clarity on the formation of the new government” and the swearing-in of MNAs. According to the PSX website, the KSE-100 index gained 873.38, or 1.37 per cent, to stand at 64,576.82 at 11:43am from the previous close of 63,703.44 points. The benchmark index sustained its gains throughout the day and closed at 64,578.52 points, up 875.08 or 1.37pc. It should be noted that after posting losses overnight, the stock market had resumed its upward drive on Wednesday due to political clarity and strong corporate results as investors opted to do some cherry-picking at attractive levels. Topline Securities Ltd said the equities remained bullish almost throughout the session thanks to further clarity with regards to the formation of the new government in the Centre.