The Pakistan Stock Exchange (PSX) hit a new high, crossing the 59,000 milestone. The KSE-100 index reached 59,402.82 points, up 0.85% from the previous close. The gains are due to the improving economic outlook after a successful review of the IMF programme. The IMF is expected to issue the second tranche of a $3bn bailout package next month. Foreign institutional buying has contributed to the rally, and the completion of the IT export policy has boosted the tech sector. The stock market is recovering from losses in recent years, and the finance minister’s remarks about potential funds from the IMF have also helped. There is a possibility of declining oil prices affecting the market’s performance. The index’s upside target is 59,294, with support expected in the range of 58,450-58,700 levels. A breach below 58,246 might trigger a corrective trend. This is a developing story.

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By hassani

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