In yet another powerful recovery, Pakistan equities extended their bullish momentum on Monday as strong buying interest lifted the benchmark KSE-100 Index sharply higher amid improving regional sentiment and investor optimism during a trading week shortened by the upcoming Eidul Azha holidays. At close, the KSE-100 Index surged by 3,881.05 points, or 2.31%, to settle at 171,725.29 points.
The market opened on a volatile note, with the benchmark index witnessing sharp swings in early trade as investors initially engaged in profit-taking following recent gains. However, renewed buying interest quickly emerged, helping the market erase losses and sustain a firm upward trajectory throughout the session.
By 1:24pm, the index was hovering at 170,423.30 points, reflecting a robust gain of 2,579.06 points, or 1.54%, during intraday trade. The benchmark touched an intraday high of 171,920.81 points, while the day’s low stood at 170,161.66 points.
Market participants attributed the sharp gains during the session to improving macroeconomic expectations, easing geopolitical concerns, and sustained investor optimism regarding Pakistan’s economic outlook.
KTrade Securities observed that the KSE-100 Index closed at 171,725 points, gaining 3,881 points (+2.31% DoD) as broad-based buying returned and lifted sentiment across the market. Activity improved as well, with 261 million shares traded within the KSE-100.
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Investor sentiment strengthened following positive developments over the weekend around progress in United States-Iran discussions and expectations of a possible interim understanding in the coming days. Easing geopolitical concerns supported a decline in international oil prices, with Brent trading around $94–98 a barrel, which remains supportive for oil-importing economies such as Pakistan.
Regional Asian markets traded positively and PSX followed the same direction from the open.
Sector-wise, gains were led by commercial banks, cements, and oil & gas, with major contributions coming from Fauji Fertiliser, United Bank, Habib Bank, Engro Holdings, Lucky Cement, Bank Al Habib and Meezan Bank.
Trading volume jumped to 506.3 million from previous close of 480.8 million. Value of traded shares stood at Rs31.1 billion while the shares of 489 companies were traded, of which 345 stocks closed higher, 107 dropped and 37 remained unchanged.
The bank of Punjab was the volume leader with trading in 27.3 million shares, rising Rs0.83 to close at Rs34.53.
Looking ahead, the report expected market direction to remain linked to developments on the US-Iran front and oil prices, with sustained softness in crude likely to remain supportive for sentiment in the near term.Latest News, Breaking News & Top News Stories | The Express TribuneOur CorrespondentRead More