Karachi, May 19, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed with a modest gain of 40 points on Monday, as the market continued to hover around its record highs in what analysts described as a consolidation phase.
The KSE-100 index settled at 119,689 points, up from the previous close of 119,649 points recorded on Friday. The index came close to its historic peak of 119,962 points, achieved just last week on May 15, 2025.
Analysts at Topline Securities Limited noted that the market remained range-bound during the session, as investors appeared to adopt a cautious approach near all-time highs. The KSE-100 index experienced significant intraday volatility, recording a wide range with a high of 636 points and a low of 398 points, before eventually posting a mild increase of 0.03%.
The consolidation was underpinned by investor confidence following the release of a comprehensive report from the International Monetary Fund (IMF), which clarified the country’s macroeconomic outlook and policy framework. The report helped anchor expectations and encouraged selective buying.
Adding further momentum, news surrounding renewed efforts to resolve the longstanding circular debt issue helped attract investor interest in key energy and utility stocks. Among the major gainers were Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC), and Pakistan State Oil (PSO), along with gas sector giants SNGPL and SSGC.
Heavyweights such as ENGROH, PPL, and PSO added a combined 246 points to the KSE-100 index, while losses in MARI, United Bank Limited (UBL), and Lucky Cement (LUCK) collectively shaved off 224 points from the benchmark.
Overall market activity showed signs of cooling, with total traded volume declining to 424 million shares and a traded value of PKR 22.2 billion. Fauji Foods Limited (FFL) led the volume charts with 60.6 million shares traded.
As the KSE-100 index consolidates just below its all-time high, analysts suggest the market may be preparing for a fresh rally, provided that stronger economic triggers or policy signals emerge. The index’s resilience reflects continued investor confidence in Pakistan’s equity market outlook.