The Pakistan Stock Exchange makes history again with a bullish trend at the start of the business today with the KSE-100 index gaining more than 1480 points crossing the benchmark of 78,000 points.

Mohammed Sohail, Chief Executive Of Topline Securities, attributed the bullish trend to “positive sentiments amid hope that new budget will help secure long term IMF deal”.

Raza Jafri, Chief Executive Of EFG Hermes Pakistan, said, “the market is pricing in the favourable news over the Eid holidays, including fitch’s dovish view on inflation outlook and the proposed reduction in electricity tariffs for industries.”

Yousuf M Farooq, Director Research At Chase Securities, highlighted the upward trajectory was due to “’declining fixed income yields, no additional capital gains and dividend taxes in the Budget, rationalisation of energy tariffs, improving economic sentiment and reduced uncertainty over the balance of payments situation”.