The KSE100 Index jumped 1.5% on Wednesday, its best day since January 1, at the provisional close. Most Pakistan's dollar bonds edged higher, with notes maturing 2029 up half a cent to 81.2 cents on the dollar, according to indicative pricing compiled by Bloomberg.
Former premier Shehbaz was nominated as the country's new leader on Tuesday after a rival group pledged support, ending a deadlock after last week's national elections delivered a split mandate. Sharif, who was PM from 2022 until last year, was crucial in securing the nation's $3 billion International Monetary Fund bailout, which is set to end in April.
"The initial anxiety will end when the new government comes to power," said Amjad Waheed, chief executive officer in Karachi at NBP Fund Management. "The stock market will change direction as the government is formed and it will gradually start to rise." Pakistan's markets had been&nbsp;under pressure after Thursday's inconclusive polls, with investors waiting for a new administration to announce policies to tackle the nation's economic crisis and plans for another bailout.
Stocks had rallied going into the election, with the KSE-100 Index being the best-performing gauge in dollar terms among 90 major indexes tracked by Bloomberg since late June, when the nation clinched its IMF deal. The rupee is also among the best-performing currencies in Asia in the period. "It is clear that another coalition government is in formation, leading to stability," said Memoona Tanveer, head of corporate and HNIS at Dawood Equities.

Pakistan stocks rally as Shehbaz is set for second term as PM

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