The equity market rallied further on Thursday, with the benchmark KSE-100 Index hitting a new all-time high in early trade, continuing its upward trajectory as investors maintained buying momentum across key sectors.
The rally follows gains underpinned by easing geopolitical tensions and expectations of a stable economic roadmap under the International Monetary Fund’s (IMF) supervision.
The Pakistan Stock Exchange’s (PSX) benchmark index surged to a new historic high of 120,668.42 points, rising 736.97 points, or 0.61%,, during the intra-day trader, up from the previous close of 119,931.45.
The index also marked a low of 120,210.56, still up 279.11 points, or 0.23%, during the early session, maintaining a firm bullish tone throughout.
“It’s a continuation of the rally post relief from Indo-Pak war,” said AAH Soomro, an independent investment and economic analyst. “The market overall remains attractive with more investors deploying funds consistently.”
“Agreement with IMF on the budget is likely to give impetus to growth sector stocks and continue bull run eventually towards 150,000 in a year,” he added.
The rally follows Wednesday’s strong performance, when the KSE-100 Index closed at 119,931.45, gaining 960.33 points, or 0.81%.
