PSX soars to all-time high, crosses 80,000 milestone

The 100 index of the Pakistan Stock Exchange made a new history today.

Pakistan Stock Exchange 100 index is witnessing a sharp rise for the second consecutive business day after Eidul Fitr. The 100 index saw a rise since the opening of business today and at one point the index was seen trading at 80.001 after a gain of 1.199 points.

It should be remembered that on the first business day after Eidul Fitr, the 100 index of Pakistan Stock Exchange closed at 78.802 points with an increase of 2.o95 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.