PSX soars to all-time high, crosses 78,000 milestone

Pakistan Stock Exchange 100 index is witnessing a huge boom on the first business day after Eidul Fitr.

On the first business day after Eid, the Pakistan Stock Exchange 100 index crossed the 78,000 mark after gaining more than 1,300 points. At one point the 100 index was seen trading up 1379 points at 78,085.

It should be remembered that on the last business day before the Eid holidays, the Pakistan Stock Exchange went up to 77 thousand 310 points.

Saad Ali from Intermarket Securities said  that the market rally continues as optimism for another IMF programme has risen after the budget and base power tariff hike before Eid holidays.

He added that Fitch rating thinks that the budget is good enough for an IMF program. Also, market is taking positively PM’s plan to reduce power tariff for industries.