Pakistan Stock Exchange (PSX) achieved a significant milestone on Wednesday as the benchmark KSE-100 Index reached the unprecedented level of 58,000.
After consecutive gains, the KSE-100 index surged by 732.53 points, settling at 58,104, driven by enhanced market sentiments following the successful completion of the first review of the International Monetary Fund (IMF) staff-level agreement.
During the trading session, substantial buying was observed in automobile assemblers, cement, chemical, commercial banks, fertilizer, oil and gas exploration companies, and OMCs.
Top performers included Sui Southern Gas Company Limited (SSGC), UNITY, and Fauji Foods Limited (FFL).
In recent weeks, there has been a substantial uptick in the KSE-100, accompanied by a strengthening of the local currency against the dollar in the interbank market.
Experts attribute this positive trend in the market to abundant domestic liquidity, fostering optimism in the money market.