Pakistan, June 12 -- The Pakistan Stock Exchange (PSX) continued its strong upward trend for the third straight day on Thursday. The KSE-100 index reached a record high of 126,025.99 points during intra-day trading. It gained 1,673.31 points, or 1.35%, marking a new milestone for the market. The previous close was 124,352.68 points.

This rally followed a positive reaction to the recent federal budget announcement. Investors welcomed the budget because it kept equity taxes unchanged and raised withholding tax on bank deposits. Analysts say this budget supports capital markets and the economy. The fiscal deficit is projected at 3.9%, with a Rs1 trillion federal development plan.

Trading was lively across many sectors, including cement, oi...