KARACHI: The Pakistan Stock Exchange (PSX) surged past the 182,000-mark on Monday as local investors drove a record-setting rally despite economic challenges, including declining exports and a widening trade deficit.
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The benchmark KSE-100 index hit an intraday high of 184,000 before closing at 182,408.24, up 3,373 points or 1.88pc. The session marked the third consecutive day of strong gains, underscoring resilient investor confidence. Trading volume surged 24.36pc to 1.38 billion shares, while the traded value climbed 21.37pc to Rs77.9 billion.
Experts attributed the rally to abundant market liquidity and expectations of a potential interest rate cut after December inflation fell to 5.6pc. “Investors are looking for superior real returns in equities as confidence builds around policy stability and reform expectations,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
Top contributors to the rally included United Bank, Habib Bank, Engro Holdings, MCB Bank, Engro Fertiliser, and Fauji Fertiliser. Strong sectoral performance, particularly in fertilisers, supported the bullish trend.
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Analysts said the market is forward-looking, discounting near-term economic softness, and identified 180,000 as the immediate support level. Optimism around privatisation, reforms, and corporate earnings is expected to sustain the momentum.