The benchmark KSE-100 Index of the Pakistan Stock Exchange continued its positive rally on Monday as it gained 724.99 points or 1.23% to reach 59,811.34 levels at the closing of the market.

The KSE-30 Index gained 223.29 points or 1.14% to reach 19,860.54 levels at the closing of the trading session on Monday.

On November 24, the KSE-100 Index created history by crossing the 59,000 mark.

Confidence in the market has grown as the International Monetary Fund team departed from Pakistan with an agreement.

After the Fund’s board approves the agreement, Pakistan will receive the second tranche of $710 million.

The market recovered to the 53,000-point mark in early November after a gap of six years, till then its highest level in history.

Read: IMF team arrives in Islamabad for tax talks

In addition to the IMF deal, analysts have attributed the performance of the market to fiscal discipline by the government as well as a clampdown on the smuggling and manipulation of the dollar.