Pakistan’s stock market extended its winning run on Monday, with investors continuing to buy shares across major sectors, pushing the benchmark KSE-100 Index more than 1,600 points higher during intraday trading.
By 12:58pm, the benchmark index had climbed 1,632.10 points, or 0.88 percent, to 187,004.30. Trading activity also remained healthy, with more than 206.59 million shares changing hands.
The market touched an intraday high of 187,019.13 after opening the session on a firm footing. It stayed comfortably above the previous close of 185,372.20 throughout the morning, reflecting sustained investor confidence.
Buying interest was seen across several heavyweight sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing firms and refineries. Large-cap stocks such as ARL, HUBCO, MARI, OGDC, POL, PSO, MCB, MEBL and NBP remained among the key contributors to the market’s advance.
Activity was also strong in individual stocks. TPL Properties, LOTTE Chemical Pakistan, Ghani Chemical Industries, Cnergyico and Maple Leaf Cement Factory featured among the most actively traded companies during the session, while several other shares posted notable gains. At the same time, a handful of stocks came under selling pressure, although overall market sentiment remained firmly positive.
The latest gains build on last week’s strong performance, when the KSE-100 Index added more than 5,800 points, or 3.2 percent, to finish at 185,372.20. Investor confidence was supported by easing tensions in the Middle East, softer global oil prices and improving economic indicators at home.
Global markets also provided a supportive backdrop. Most Asian stock markets traded higher on Monday as investors looked ahead to the upcoming corporate earnings season in the United States. Lower oil prices also helped improve sentiment by raising hopes of reduced inflationary pressure.
Crude oil prices remained under pressure after OPEC+ agreed to raise production targets again from August. The group approved an increase of 188,000 barrels per day, following similar output hikes in June and July. Brent crude fell around 0.6 percent to about $71.70 a barrel, while US crude slipped 0.5 percent to $68.38 a barrel.
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