Bulls remain in charge in the Pakistan Stock Exchange as the benchmark KSE-100 Index crossed the 62,000 mark on Monday.

The 100-Index gained 801.80 points or 1.30% to reach 62,493.05 while the KSE-30 Index gained 274.29 points or 1.33% to reach 20,828.86 at the closing of the trading session.

Experts have attributed the positive sentiment in the market to the staff-level agreement between Pakistan and the International Monetary Fund on the first review of a $3 billion bailout, where the country will receive $700 million after approval from the Fund’s Executive Board.

Last month, Saudia Arabia extended the term for the deposit of $3 billion placed with the State Bank of Pakistan.

Meanwhile, rupee also maintained its upward momentum against the dollar in the interbank foreign exchange market on Monday.

The greenback shed 45 paisas and was trading at Rs284.52 at the closing of the market, as against the closing of Rs284.97 on December 1.

In the open market, the buying of the dollar was recorded at Rs283.7 while it was quoted at 286.5 for selling at the time of filing the story.