The KSE-100 index briefly surged past the 99,000 mark on Monday, driven by a strong performance in the banking sector, while the broader Pakistan Stock Exchange (PSX) showed mixed trends.
The index started the session in negative territory, dipping to an intra-day low of 97,137.63 by 9:40 AM. However, market activity picked up as buying momentum pushed the index above 99,000, reaching an intra-day high of 99,317.47. By noon, the KSE-100 hovered at 98,127.89, showing an increase of 329.66 points, or 0.34%.
According to a report by Business Recorder on Monday, the rally was led by commercial banks, fertilizers, and pharmaceuticals, with stocks like HBL, NBP, MEBL, UBL, MCB, HUBCO, PSO, SSGC, and FFC all trading in the green.
Meanwhile, political unrest remained a key concern. Thousands of loyalists of Imran Khan, jailed founding chairman of the Pakistan Tehreek-e-Insaf (PTI), initiated a “decisive” long march toward Islamabad, overcoming government barricades.
In response, authorities arrested hundreds of PTI supporters in Rawalpindi and Islamabad as protesters rallied for the release of political detainees, the abolition of the 26th Constitutional Amendment, and the return of what they allege was PTI’s “stolen mandate.”
On the global front, Asian stocks saw a significant rally on Monday, with MSCI’s broadest index of Asia-Pacific shares climbing 1.6%. Meanwhile, US equity futures gained 0.5%, driven by optimism over Scott Bessent’s selection as the next U.S. Treasury secretary. The dollar weakened against other currencies, while bond yields fell, further boosting market sentiment.
Updates:
As of the latest data, the KSE-100 index has shown fluctuations, reaching a high of 99,317.47 before stabilizing just below 99,000. As of 12:32 PM on Monday, the index stands at 98,323 points, according to the PSX website.
The ongoing political unrest and mass protests have added volatility to the domestic market, as investors keep a close watch on the developments.
