- The analyst attributes the development to improvement on the macro front.
- Total traded volumes reached 904 million shares at close.
- The overall market turnover rose to Rs47 billion during the session.
The Pakistan Stock Exchange (PSX) closed at a new all-time high on Monday as gains pushed the bourse to over 170,500 points.
The KSE-100 Index concluded the trading session on a high note, closing at 170,741 points, registering a gain of 876 points.
The benchmark index remained positive during the day, hitting an intraday high of 171,001 points and a low of 170,292 points, reflecting sustained investor confidence and improving market outlook.
The index’s key heavyweights – PPL, SYS, MLCF, NBP and UBL – led the rally, collectively contributing around 651 points to the index’s overall advance.
Market activity remained buoyant, with total traded volumes reaching 904 million shares, while overall market turnover climbed to Rs47 billion. PIBTL emerged as the most actively traded stock of the session, with 123 million shares.
Explaining the reasons for today’s rise, Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, said: “Improved macroeconomic expectations, monetary easing and better corporate earnings expectations are driving the market. »
Sana Tawfik, head of research at Arif Habib Limited, attributed the rally to strong buying in energy and banking stocks.
She said the market was likely to maintain its positive momentum after the State Bank of Pakistan (SBP) cut its policy rate by 50 basis points, which surprised market participants.
These developments helped the benchmark index extend its rally and “potentially unlock new highs in the coming sessions”, Sana added.
The SBP, in a surprise move earlier in the day, cut the policy rate by 50 basis points to 10.5% despite food-related inflationary pressures and external considerations.
The market has also been largely positive since the Executive Board of the International Monetary Fund (IMF) approved a $1.2 billion loan for Pakistan after completing the second review of the country’s economic reform program under the Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF).
