Karachi, January 23, 2026 – Pakistan’s stock market staged another blockbuster session on Friday as the benchmark KSE-100 Index soared to an all-time high of 189,167 points, extending its bullish momentum on growing expectations of a policy rate cut by the State Bank of Pakistan (SBP) later this month.
Investor sentiment remained firmly upbeat throughout the session, driven by strong speculation that the SBP may slash interest rates in its January 26 monetary policy announcement, potentially bringing borrowing costs back into single-digit territory after nearly four years.
The index closed at 189,166.82 points, posting a solid gain of 1,478.66 points (0.79%) from the previous close, while intraday trading witnessed heightened volatility and robust participation.
KSE-100 Index Performance Summary
| Current Index | 189,166.82 |
| Change | +1,478.66 |
| Percent Change | +0.79% |
| Day High | 189,566.64 |
| Day Low | 186,637.57 |
| Volume | 407,933,410 shares |
| Previous Close | 187,688.16 |
| Total Value | Rs42.83 billion |
Broad-based buying was witnessed across key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration, OMCs, power generation and refineries. Heavyweight stocks such as ARL, HUBCO, OGDC, POL, PPL, SNGPL, FFC, MCB, MEBL, NBP and UBL led the charge, closing firmly in the green.
Market optimism is being fueled by expectations that the SBP will deliver a 75 basis points rate cut, potentially lowering the policy rate to 9.75%. Analysts cite cooling inflation, a stable rupee, an improving macroeconomic outlook, manageable current account dynamics and easing global oil prices as key drivers supporting the case for monetary easing.
With liquidity improving and industrial activity showing early signs of recovery, investors remain hopeful that the current rally has further room to run, keeping the PSX firmly in record-breaking territory.