Bulls lead PSX to cross historic 80,000 mark

On Friday, the Pakistan Stock Exchange (PSX) shattered another record by crossing the 80,000 mark during intraday trading.

The benchmark KSE-100 index reached an all-time high of 80,001 points, up from the previous close of 78,801 points. By around 09:50 am, the KSE-100 had gained 1,199 points.

Analysts attributed this upward trajectory to the government’s efforts to secure a deal with the International Monetary Fund (IMF) following the budget.

They expect the budget for the fiscal year ending in June 2025 to set ambitious fiscal targets, strengthening the case for a new IMF bailout deal.

On Thursday, the KSE-100 index of the PSX gained 2,094.76 points, closing at a historic level of 78,801.53 points, up from 76,706.77 points the previous trading day.

A total of 452,637,253 shares valued at Rs.20.675 billion were traded, compared to 395,897,996 shares valued at Rs.21.366 billion the previous day.

Out of 447 companies that traded their shares, 256 recorded gains, 133 sustained losses, and the share prices of 58 remained unchanged.