Karachi: The Pakistan Stock Exchange (PSX) continued its post-budget rally on Friday as it crossed the 79,000 mark and touched new highs in the first hour of trading.
The benchmark PSX KSE-100 gained 1,003.49 points, or 1.27%, to 79,969.81, up from 78,801.53 previously.
The stock hit the 80,000 mark during the day’s trading – the highest in PSX history.
EFG Hermes Pakistan CEO Raza Jafri told Geo.tv that the post-budget rally continues and Fitch’s latest comments add more credence to the idea that Pakistan can secure a new International Monetary Fund (IMF) plan.
Meanwhile, Alpha Beta Core CEO and economic analyst Khurram Shehzad said the confidence of local and foreign portfolio investors has increased, paving the way for the large and long HPG program expected from the FY25 budget.
