KARACHI; The bullish momentum at the Pakistan Stock Exchange (PSX) continued on Thursday as the benchmark KSE-100 Index soared by 2,849 points, or 1.72 percent, setting a new record high at 168,489 points.
The index demonstrated consistent strength throughout the trading session, touching an intraday peak of 168,619. Analysts attributed the rally largely to aggressive mutual fund buying, which boosted investor confidence and market sentiment.
According to a report by Topline Securities, the banking sector played a pivotal role in driving the surge. Major contributions came from Meezan Bank Limited (MEBL), United Bank Limited (UBL), Bank AL Habib Limited (BAHL), Habib Bank Limited (HBL), and National Bank of Pakistan (NBP), which together added 1,827 points to the index.
On the other hand, profit-taking in select heavyweight stocks, including Lucky Cement Limited (LUCK), Hub Power Company Limited (HUBC), and Systems Limited (SYS), trimmed 192 points from the overall gains.
Market activity reached remarkable levels, with traded volumes climbing to 1,569 million shares and turnover hitting Rs70.1 billion. Bank of Punjab (BOP) led the session in volumes with 148 million shares traded.
The strong closing came a day after a relatively modest performance, when the KSE-100 Index had risen by only 146.75 points to close at 165,640.34 amid volatile intraday movements.
