Broad-based buying and lower global oil prices lift investor confidence as PSX extends record-breaking rally
KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) began the week on a strong footing, surging 2,082 points on Monday as broad-based buying and improving investor sentiment propelled the market to a fresh record high.
The KSE-100 Index closed at 187,454 points, up 2,082 points, or 1.12%, after climbing as much as 2,174 points above the previous close during intraday trading.
Broad-Based Buying Drives Rally
The market maintained positive momentum throughout the trading session, with strong buying interest across major sectors supporting the benchmark index.
Analysts said the rally reflected sustained investor confidence, extending the record-setting performance witnessed at the end of last week as optimism over Pakistan’s macroeconomic outlook continued to strengthen.
Lower Oil Prices Boost Sentiment
Investor sentiment also received support from declining international crude oil prices.
West Texas Intermediate (WTI) crude traded around $68 per barrel, easing concerns over Pakistan’s import bill, inflation outlook and external account. Lower oil prices are generally viewed as positive for the country’s economy because they reduce energy import costs and help ease pressure on foreign exchange reserves.
Institutional buying remained robust throughout the session, providing additional momentum and helping the benchmark index register another all-time closing high.
Banking and Blue-Chip Stocks Lead Gains
Among the index heavyweights, Habib Bank Limited (HBL), Meezan Bank Limited (MEBL), National Bank of Pakistan (NBP), Lucky Cement (LUCK) and Mari Energies (MARI) emerged as the largest contributors to the day’s advance.
Collectively, these stocks added approximately 827 points to the benchmark index.
Trading Activity Strengthens
Market participation also improved, with investors trading 888 million shares during the session.
The total traded value reached approximately Rs49.9 billion, highlighting strong investor interest across the market.
TPL Properties Limited (TPLP) topped the volumes chart, with around 66 million shares changing hands.
Outlook
Market participants are expected to closely monitor international oil prices, macroeconomic indicators and upcoming corporate developments for further direction.
Analysts believe continued economic stability, favourable commodity prices and sustained institutional participation could help support the market’s upward momentum in the near term.