Opening Bell: KSE-100 index surges by 1,058 points

April 11, 2022 (MLN): The benchmark KSE-100 index has gained 1,058 points or a 2.35% increase [10:19 PST] so far in morning trade and is currently trading at 45,503 after much clarity on the political front.

To recall, Pakistan's lower house of parliament on Sunday voted in favour of removing Prime Minister Imran Khan from office, following which PML-N President Shahbaz Sharif seems all set to be elected as the new prime minister in National Assembly’s session today.

For now, the market is likely to focus on the relative calm after the high political noise over the last few weeks, a note by Intermarket Securities said.

The KSE100 rose by 1.5% on Friday, after the Supreme Court ruled for the No-Confidence Vote to go ahead.

Commercial Banks, Cement, Technology & Communication, and Fertilizers sectors have witnessed the maximum gains so far.

Scrip-wise, LUCK, SYS, HUBC, UBL, MEBL, and TRG observed the highest-buying activity.

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