Pakistan Stock Exchange (PSX) hit a record high on Tuesday as investor confidentiality rose in front of the federal budget message as the KSE-100 index increased by 782.56 points, the current index of 122,423.56, which received 0.64% during trading on the day.

Resumption of activity after Eidul Azha holidays began the trade session with a positive momentum and built on the market’s strong performance. The investor’s confidence, reflected in Pakistan Stock Exchange’s record performance, follows Moday’s presentation of Pakistan’s economic study 2024-25.

The market briefly touched at a highlight of 122,611.53 points before settling at 122,423.56 points during intraday trade.

Trade volumes remained robust with 144,033,353 shares exchanged and the total value of traded shares reached RS 7.78 billion. The previous day close was registered at 121,641.00 points.

At the end of the previous week, the PSX continued its positive momentum, with the Benchmark KSE-100 index reaching a highest height of 121,798 points on June 4 before setting down to 121,641, marking a weekly win of 1,950 points (+1.63%).

Read more: PSX makes history of macro boost

The rally was driven by positive developments, including successful budget negotiations with the IMF, the Asian Development Bank’s approval of a $ 800 million financing package and the completion of an RS1,275 trillion circular debt resolution with banks.

Macroeconomic indicators also supported the mood, with a 10% increase in petroleum sales yoy, CPI-based inflation that eased to 3.5% and a 23% morror reduction in the trade deficit.

However, the State Bank’s reserves fell slightly by $ 7 million to $ 11.5 billion.

Sectoral, commercial banks, power production, fertilizer and food led the gains.

Foreign sales amounted to $ 14.7 million, an increase compared to the previous week.