The Pakistan Stock Exchange extended its rally on Monday, with the benchmark KSE-100 Index crossing the 183,000 mark for the first time during intra-day trading.
By early afternoon, the index was close to 182,000 points, up nearly 3,000 points from the previous close. Buying picked up as the session progressed, pushing the market to fresh highs.
At around 2:30pm on January 5, the KSE-100 stood at 183,245 points, showing a gain of more than 4,200 points or 2.35 percent. During the day, the index touched a high of 183,473 points, while the low was recorded at 179,535 points. Trading volumes were strong, with nearly 500 million shares changing hands.
Broad-based buying lifts key sectors
Most major sectors traded in the green. Strong interest was seen in automobile assemblers, cement, commercial banks, oil and gas exploration, oil marketing companies and power generation.
Heavyweight stocks such as HUBCO, OGDC, PPL, PSO, MARI, POL, HBL, MCB, MEBL and UBL all supported the upward move. Fertiliser stocks also attracted attention after encouraging sector numbers added to positive sentiment.
Market participants said the start of the new year had brought fresh buying, especially from funds and institutional investors, who appeared more confident about near-term prospects.
Around 2:38pm, the stock market was up by 4,929.44 points to 183,964.37, the highest level ever recorded.
Rate cut hopes add to optimism
Expectations around monetary policy also played a role. Investors are looking ahead to the central bank’s policy announcement later this month. After the last rate cut, there is growing belief that another reduction, possibly of up to 50 basis points, could be on the cards. That outlook has helped keep sentiment upbeat.
The market’s strong run follows an equally positive previous week. The KSE-100 gained more than 6,600 points last week, a rise of 3.8 percent, to close at 179,035 points. Analysts linked that rally to easing inflation, solid sector performance and rising investor participation.
The attention is expected to remain on policy signals, corporate earnings and global cues to see whether the momentum can be sustained in the days ahead.
