KARACHI: A series of positive triggers continued to drive bullish momentum at the Pakistan Stock Exchange (PSX), which scaled an all-time high in two record-setting sessions, thanks to the improved economic outlook in the outgoing short week, settling for the first time above the 121,000 barrier.

The optimism following the government’s finalised agreements for a historic loan package of Rs1.275 trillion with approximately 18 commercial banks to address circular debt sent the benchmark index to new highs. The other key positive development was the approval of $800 million loan by the Asian Development Bank under Pakistan’s public finance programme.

In May, inflation, as measured by the Consumer Price Index, saw a significant increase, rising to 3.5pc from a record low of 0.3pc in April. This sudden spike could be a major concern for investors, as it may halt the ongoing trend of interest rate cuts by........

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