KARACHI: The Pakis­tan Stock Exchange (PSX) opened the week on a bullish note as value-hunting by investors and optimism over strong corporate ear­nings pushed the benchmark KSE-100 index past the 136,500 level on Monday — a fresh all-time high.

The index surged to an intraday high of 2,542 points before closing at 136,502.54, up by 2,202.77 points or 1.64 per cent. The rally was supported by active participation from local mutual funds and institutional investors.

Ahsan Mehanti of Arif Habib Corporation stated that the record close oc­­curred amid upbeat sentiment driven by earnings season expectations, up­­coming results announcements, and the IMF’s affir­mation of Pakistan’s progress in structural ref­orms under the Extended Fund Facility (EFF). Lo­­w­er inflation, rising exports, discussions over privatisation of state-owned enterprises (SOEs), and a spike in global crude oil prices also bolstered market momentum.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that the index’s sustained upward trajectory reflects growing investor confidence in key sectors. A wave of across-the-board buying was triggered by comments from the IMF’s Resident Representative, who term­­ed Pakistan’s economic re­­covery as “strong so far.”

The banking sector remained dominant, as United Bank Ltd, Habib Bank Ltd, Bank Al-Habib, MCB Bank, National Bank of Pakistan, Askari Bank Ltd, Allied Bank Ltd, and Bank Alfalah together added 1,515 points to the index—highlighting positive investor sentiment over their earnings outlook and dividend potential.

Market activity imp­roved, with traded volume rising 9.98pc to 814.45 million shares. However, the traded value declined 7.75pc to Rs37.05bn. Cres­cent Star Insurance Com­pany topped the volume chart with 47.20 million shares changing hands.

Published in Dawn, July 15th, 2025