Pakistan Stock Exchange (PSX) reached a new milestone on Wednesday, with the KSE-100 index violating the 121,000-point mark for the first time during trading on the day.

The index amounted to 121,690.71 and won 1,239.84 points or 1.03% at the time of this report’s filing.

The highest point reached during the session so far was 121,736.39, while the lowest was 120,896.13. The total trading volume amounted to 218,586,173 shares with a transaction value of 18,626,764,104. The previous closure was 120,450.87.

The positive momentum at PSX follows the recent approval of a financial package of $ 800 million from the Asian Development Bank (ADB) for Pakistan under the Resource Mobilization Reform program (Sub-Program-II).

Read more: ADB approves $ 800 million. Financial package to Pakistan

The package consists of a $ 300 million policy -based loan (PBL) and a program -based $ 500 million (PBG) warranty, which has helped to strengthen the investor’s mood.

Previously, ADB had postponed the approval of a $ 800 million financing package. For Pakistan for five days at the request of India, who sought time to evaluate the loan documents, which vulnerable deficiencies in the lender’s rulebook allowing such extensions.

Earlier on Tuesday, the PSX also saw a record-breaking tight, with the KSE-100 index, which ended at 120,450.87, which marked its first ever close over the 120,000-point threshold.

ALSO READ: PSX closes over 120,000 points for the first time

The market got 1,573.07 points, or 1.32%, during the session, reaching an intra-day high of 120,693.83 and a low level of 119,129.51. Trade volume that day was 315,235,806 shares with a total value of 20,897,236,653. The winnings on Tuesday were reportedly attributed to positive feelings in the market ahead of this month’s budget message.

Despite a sharp fall in the market earlier this week, which saw the KSE-100 index falls by 813 points (0.68%) Monday due to concern over proposed tax increases and inflation, the record heights reflect the confidence of the investor as the country’s budget is approaching.