The Pakistan Stock Exchange (PSX) continued its record-breaking streak as the KSE 100 index surged to an all-time high above 80,000 points during intraday trading on Friday.
Despite concerns over proposed budgetary tax measures for fiscal year 2024-25, the index gained over 1,200 points, closing at 78,801 after a bullish trend the previous day.
Read more: PSX Reaches Record Milestone, Surpassing 78,000 For The First Time Ever
Market analysts attribute the buying spree to government progress in finalizing an agreement with the International Monetary Fund (IMF) following the announcement of Budget 2024-25.
The budget aimed to achieve fiscal targets crucial for securing a new IMF bailout deal. Additionally, statements from rating agencies Fitch and Moody’s also contributed to the market rally.
