KARACHI: The Pakistan Stock Exchange (PSX) continued its buying rally on Monday, with the benchmark KSE-100 Index surpassing the 163,000 level for the first time in history during intra-day trading.
The index reached an intra-day high of 163,903.62 before closing at 163,847.68, up 1,590.68 points or 0.98%.
The rally coincided with an International Monetary Fund (IMF) mission led by Pakistan Mission Chief Iva Petrova, which arrived in Islamabad to discuss the second review under the Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF).
Later in the day, Finance Minister Muhammad Aurangzeb chaired talks between the Ministry of Finance and the IMF.
Last week, the PSX saw continued gains, with the KSE-100 Index closing at a record 162,257 points, up 4,220 points or 2.67% on a week-on-week basis.
The surge was driven by strong gains in the exploration, production, power, and banking sectors, fueled by positive developments in the economic and political landscapes.
In the currency market, the Pakistani rupee appreciated 0.01% against the US dollar, closing at 281.35, up Re0.02.
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