PSX gains momentum after ECP announces elections in January

KARACHI: The 100-index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Thursday and gained 312.55 points following the announcement by the Election Commission of Pakistan to hold elections in January.

The KSE-100 index displayed a notable improvement, recording a 0.68 percent gain and closed at 46,202 points after gaining 312 points.

In a statement today, the Election Commission of Pakistan (ECP) announced that general elections would be held in the last week of January 2024.

The ECP said that it reviewed work on delimiting constituencies and decided that the initial list for the delimitation of constituencies would be published on September 27.

“The final delimitation list will be published on November 30,” said ECP, adding that general elections will be held in the last week of January 2024 following the 54-day election schedule.

The electoral body was under immense pressure from the political parties regarding the announcement of the election date.

The announcement comes a day after the ECP said it had scheduled a meeting with political parties next month to discuss the code of conduct for general elections.

The ECP spokesperson mentioned Wednesday that a draft of the code of conduct has been provided to political party leaders in advance, allowing them to provide feedback more effectively during the consultation.

Earlier, President Arif Alvi had also written a letter to Chief Election Commissioner Sikandar Sultan Raja, stating that polls should be held by November 6.