The Pakistan Stock Exchange (PSX) continued its upward trend on Friday, reaching a new all-time high and surpassing the 59,000 milestone. At 10am, the KSE-100 index was at 59,402.82 points, up 0.85% from the previous close. The market has seen steady gains throughout the week, attributed to the positive macroeconomic outlook following the IMF programme review. The IMF is expected to disburse the second tranche of the $3bn bailout package next month. Analysts believe that despite the recent rally, valuations remain attractive and the government’s focus on the economy has helped manage risks. The stock market is also said to be recovering from losses in recent years. The future performance of the market is said to depend on declining oil prices, with technical indicators suggesting potential support levels and upside targets for the index.