The Pakistan Stock Exchange surpassed another milestone on Monday, with the benchmark KSE-100 Index climbing to an all-time intraday high of 133,862 points before closing at a record 133,370, up 1.08%, or 1,421 points.
The market rally was driven by a series of positive developments, including a $2 billion investment agreement signed between Pakistan and Azerbaijan, which lifted investor sentiment.
The government also finalized a 10-year industrial policy following consultations with the business community. In addition, progress in trade discussions with the United States raised expectations of export growth.
“The market remained bullish, supported by key economic and policy announcements,” an analyst at Al Habib Capital Markets said.
According to an analyst at Topline Securities, the rally continued throughout the day, led by strong gains in banking stocks on expectations of robust June-quarter earnings and potential dividend payouts. Last week, the index gained more than 6,000 points, of which 4,000 points were contributed by the banking sector.
Textile stocks also advanced, likely fueled by optimism over a possible tariff agreement with the U.S.
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