PSX hits to all-time high above 80,000 as bulls dominate trading floor

KARACHI – The Pakistan Stock Exchange (PSX) maintained its record-breaking spree as the benchmark KSE 100 index soared to an all-time high above 80,000 during intraday trading on Friday.

The spectacular rally comes despite growing concerns over the proposed budgetary taxation measures for the fiscal year 2024-25.

The KSE-100 gained over 1,200 points to cross the 80,000 mark as it closed at 78,801 a day earlier when it also registered bullish trend.

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.