Pakistan stock index hits fresh record high for second straight session

Pakistan's benchmark share index closed at an all-time high for the second consecutive session on Thursday, up 1%, data from the Pakistan Stock Exchange website showed.

The index is extending a rally for that followed a staff-level agreement with the International Monetary Fund signed in March, which, if cleared by the global lender's board, will release about $1.1 billion to the struggling South Asian nation.

"This robust performance is primarily attributable to political clarity, successful SLA with the IMF, attractive valuation and foreigners interest and inflow in the market," said Tahir Abbas, Director Research at Arif Habib Limited.

The market crossed 68,000 points to close at 68,416.78 points, hitting a fresh high, a day after the index settled at a record close of 67,142.12 on Wednesday.

Reuters