The Pakistan Stock Exchange (PSX) resumed the trading session with a bullish tone on Monday after first round of the US-Iran talks ended in Switzerland.

The KSE-100 index climbed 1,223 points, breaching the psychological barrier of 180,500 points at the start of the first trading day of the week.

Last week the market had closed in the negative zone as the KSE-100 index lost 2,475 points to close at 178,922 points.

In the last session, the index had an intraday high of 182,185 points and a low of 177,836 points.

After 30 newly elected members were sworn in on Sunday, the Gilgit-Baltistan Assembly will convene here on Monday at 3 p.m. to elect a speaker, deputy speaker, and leader of the house.

The lawmakers were sworn in by Assembly Speaker Nazir Ahmed Advocate, who then adjourned the meeting till today.

The Pakistan Muslim League-Nawaz (PML-N) has agreed to support a coalition agreement, while the Pakistan People’s Party (PPP), which emerged as the largest party in the recently concluded assembly elections, is expected to form the next government in Gilgit-Baltistan.

According to political insiders, the PPP and the PML-N have reached a deal that is comparable to their federal power-sharing arrangement, guaranteeing the coalition a sizable majority in the assembly.

The PPP is now the largest party in the 33-member house after winning 11 seats, according to the election results. The Istehkam-e-Pakistan Party won four seats, while the PML-N won six. Other parties and independents supported by the PTI were also elected to the legislature. However, because to ongoing legal actions, notifications of the results of three constituencies have not yet been released.

Amjad Hussain is the party’s nominee for chief minister, according to PPP Chairman Bilawal Bhutto Zardari. Following the completion of the reserved seat allocation procedure, party leaders expressed confidence that the coalition would easily secure the necessary numbers.

Before choosing the leader of the house, the assembly is supposed to elect its speaker and deputy speaker. After the polls, weeks of political unpredictability are probably coming to an end with the formation of the new government.

According to observers, the PPP-PML-N collaboration is anticipated to stabilise the political environment in the area and represents the two parties’ greater national cooperation.

The most senior member of the Supreme Court of Pakistan, Justice Munib Akhtar, has been sworn in as Pakistan’s acting chief justice.

At the Supreme Court Branch Registry in Karachi, Justice Muhammad Shafi Siddiqui delivered the oath to Justice Munib Akhtar in a ceremonial but straightforward ceremony.

While CJP Yahya Afridi travels overseas, Justice Munib Akhtar will serve as Pakistan’s chief justice.

The event was attended by judges from the Federal Constitutional Court and the Supreme Court.

Senior authorities and staff members attended the hearings, which were led by the Supreme Court registrar.