The Pakistan Stock Exchange (PSX) reached a record high on Thursday, with the KSE-100 Index climbing 2.66 percent to hit 78,801 points by 4:15 pm, up from 76,706.77 points the previous week.
The market opened strong after Eid ul Adha, with the KSE-100 crossing 77,000 points and gaining 730 points by 09:44 a.m.
The automobile, banking, fertilizer, oil, and gas sectors experienced significant buying, boosting stocks like ODGC, POL, SHEL, SNGPL, MEBL, and HBL.
Fitch Ratings labelled Pakistan’s fiscal 2024-25 budget as “ambitious,” which may enhance prospects for an IMF agreement.
Last week’s bullish trend was fueled by maintained tax rates on dividends and capital gains for filers, pushing the KSE-100 up by 2,952.75 points to a record close.
