PSX hits historic milestone, closes above 80,000 points for first time

The Pakistan Stock Exchange (PSX) achieved a historic milestone on Wednesday as the KSE-100 index closed at 80,233.67 points, marking the first time it has ended a session above the 80,000 mark.

This significant surge follows a continued bullish trend, with the index gaining 680 points from the previous session.

During intra-day trading, the index reached a high of 80,193.76 points at 11:28 AM, driven by rising global crude oil prices, strong dividend expectations from the oil sector, and ongoing positive discussions for an International Monetary Fund (IMF) bailout deal.

The market's upward momentum has been consistent, with the index crossing the 79,000 points mark on Tuesday.

Earlier in the week, the PSX gained nearly 380 points on the first trading day of the new fiscal year and saw a substantial 892-point increase on Tuesday.