Bulls continued their record-setting spree at the Pakistan Stock Exchange (PSX) as shares surged another 1,200 points on Thursday, crossing the 119,000 barrier in intraday trade.

The benchmark KSE-100 index climbed 1,215.46 points, or 1.03 per cent, to reach 119,189.48 from the last close of 117,974.02 at 9:43am.

Finally, the index closed at 118,769.77, up by 795.75 or 0.67pc, from the previous close.

Mohammed Sohail, chief executive of Topline Securities, attributed the momentum to “buying by local funds is continuing in expectations” of the government reaching the International Monetary Fund (IMF) staff-level agreement (SLA) soon.

Yousuf M. Farooq, director research at Chase Securities, said, “The KSE-100 Index hit a new all-time high today, driven by improved clarity on the IMF programme, expectations of economic stability, recovering sectoral demand, and anticipated reductions in electricity prices.”

He noted that following a strong rally from October to December 2024, the market had “paused ahead of the IMF review but has now surpassed its previous........

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