The Pakistan Stock Exchange (PSX) continued its bullish run on Monday, as the benchmark KSE-100 Index gained 1.23% to close near the 60,000-point level.
The index witnessed a strong buying spree in the second half of the session, led by banks and cement sectors.
The volume and value of shares traded on the all-share index decreased slightly to 657.5 million and Rs20.2 billion, respectively.
The PSX has been setting new records since the government reached a staff-level agreement with the IMF on the first review of the $3 billion Stand-By Arrangement (SBA) last week.
The agreement is expected to unlock the second tranche of the SBA and pave the way for inflows from other lenders.
The market is also anticipating a policy rate cut in the upcoming MPC meeting in December, which would improve the liquidity situation at the bourse.
The KSE-100 Index soared by more than 2,000 points in a week and broke the 59,000 barrier for the first time ever on November 24. It ended the week at a record high of 59,086.35 points.
Pakistani Rupee depreciation
Meanwhile, the Pakistani rupee depreciated for the third consecutive session against the US dollar in the inter-bank market on Monday.
According to data released by the State Bank of Pakistan (SBP), the local currency settled at 285.64, down by Re0.274.
