KARACHI – Pakistan Stock Exchange touched new heights, crossing 78,000 mark during intraday trading on Thursday.
On the first working day of the week, the benchmark KSE-100 index hit an all-time high of 78,115, up from the previous close of 77,213. In single day trading, the flagship KSE-100 gained over 1,400 points.
Experts link the buying spree with the government's move to finalise a deal with the International Monetary Fund (IMF) after Budget 2024-25 announcement.
This years' budget was aimed to meet fiscal targets to bolster the case for a new IMF bailout deal.
Recent statements from rating agencies Fitch and Moody’s also pushed market rally.