Bulls continued to dominate proceedings at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index crossed the 62,000 level on Monday for the first time in history.
At 10:20am, the benchmark index was hovering at 62,431.79 level, an increase of 740.54 points or 1.2%.
Across-the-board buying was witnessed, with index-heavy shares such as OGDC and PPL gaining more than 4%. Auto assemblyrs, chemical companies, commercial banks, oil and gas exploration companies, OMCs, and refineries were also in the green.
During the previous week, the bourse continued with its upward rally. It hit new record levels on the back of continuous healthy buying by local and foreign investors and institutional support.
The benchmark index surged by 2,604.90 points weekly and crossed 61,000 to close at its then-highest-ever level of 61,691.25 points.
The buying spree comes from a staff-level agreement between Pakistani authorities and the International Monetary Fund (IMF) on the first review under the nine-month $3 billion Stand-By Arrangement (SBA).
