LAHORE: Pakistan’s stock market extended its record-breaking run on Monday, with the benchmark KSE-100 Index closing at an all-time high, as steady buying pushed prices deeper into uncharted territory.
The index ended the session at 170,741 points, up 0.52%, after touching an intra-day peak above 171,000, the highest level ever recorded. Gains were sustained throughout the day, despite some profit-taking signalling confidence rather than a short-lived spike.
The latest milestone adds to what has already been a remarkable year for Pakistani equities. The KSE-100 has risen nearly 36% in the current fiscal year and more than 48% so far this calendar year, placing the market among the strongest performers globally.
Analysts say the rally reflects a combination of improving macroeconomic conditions and shifting investor preferences.
“The market is being supported by sustained investor confidence and a more favourable outlook,” Topline Securities said, pointing to continued interest in energy stocks and expectations of monetary easing.
Index heavyweights including Pakistan Petroleum Limited, Systems Limited, Maple Leaf Cement, National Bank of Pakistan and United Bank Limited were among the main contributors to the day’s gains, together accounting for a significant portion of the advance.
Sentiment was further buoyed by expectations of a policy rate cut, which later materialised when the State Bank of Pakistan’s Monetary Policy Committee decided to reduce the policy rate by 50 basis points to 10.5%. The move will further strengthen the appeal of equities at a time when returns on bank deposits have fallen sharply.
The record close follows last week’s strong performance, when the benchmark index also ended at an all-time high, gaining 1.7% on a weekly basis as economic indicators continued to improve.
Pakistan’s equity rally has also drawn international attention. Bloomberg in its report last week described the KSE-100 as one of the best-performing markets in the world, noting gains of over 47% this year, with valuations now approaching long-term averages and prospects improving for fresh equity offerings.
