Karachi, Dec 10 : Shillong, December 10: The Pakistan Stock Exchange (PSX) wrapped up the trading week on a historic note as the benchmark KSE-100 index soared to an unprecedented all-time high above 66,000 points, a media outlet reported.

This record-setting close was fueled by the visit of caretaker Prime Minister Anwaarul Haq Kakar, who marked the launch of a Pak Rs 30 billion Ijara Sukuk, Express Tribune reported.  The index witnessed an impressive increase of 4,532 points, or 7.3 per cent week-on-week (WoW), settling at 66,223.63. The remarkable surge was attributed to the outstanding performance of major sectors, including banks, fertilisers, and exploration and production (E&P).  Throughout the week, bullish sentiments dominated the trading floor, bolstered by several encouraging factors.

These included anticipation of the International Monetary Fund’s (IMF) executive board meeting on January 11 for the approval of a $700 million loan tranche, the media outlet reported. 

The Prime Minister’s remarks about the improvement in Pakistan’s fiscal and external accounts, along with extensive participation from foreign investors, high returns, and a stable exchange rate, contributed to the rapid advance of the index.