The Pakistan Stock Exchange (PSX) experienced a significant surge on Friday, breaking past the 80,000-point mark for the first time in intraday trading. The KSE-100 index soared to an all-time high of 80,001 points, up from the previous close of 78,801 points, gaining 1,200 points by 09:50 AM. Analysts credit this remarkable rise to the government's efforts to secure an International Monetary Fund (IMF) deal following the recent budget announcement. The fiscal budget for the upcoming year is expected to set ambitious targets aimed at achieving a new IMF bailout. On the previous day, the KSE-100 index had already gained over 2.66 percent, closing at 78,801 points, an increase of 2,094.76 points from the prior trading session. Out of the 447 companies that traded shares, 256 recorded gains, 133 sustained losses, and 58 remained unchanged. The bullish trend continued as investors responded positively to the fiscal year 2024-25 budget proposals and ongoing IMF negotiations. Experts predict that if this upward momentum persists, the PSX could surpass the 100,000-point milestone within the next 12 months.
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