The benchmark KSE-100 Index gained 672.08 points or 1.11% and was trading at 61131.82 levels in the intraday trading.

The KSE-30 Index added 211.46 points or 1.04% and was trading at 20,558.31 levels.

The rally in the local bourse came a day earlier amid clarity on the political front as the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples’ Party (PPP) held another round of talks for government formation in the centre.

Meanwhile, Fitch Ratings has warned that an extended negotiation or failure to secure an International Monetary Fund (IMF) deal would increase external liquidity stress and raise the probability of default.

On the economic front, it said that Pakistan’s external position has improved in recent months, with the State Bank of Pakistan reporting net foreign reserves of $8 billion as of February 9, 2024, up from a low of $2.9 billion on February 3, 2023.