KARACHI: Defying a surge in inflation for October, the Pakistan Stock Exchange (PSX) extended its upward march on Monday, with investors pursuing value-hunting across the board. The benchmark KSE-100 index crossed the 162,000-point threshold, sustaining last week’s bullish momentum.

The index gained 1,172.42 points, or 0.72 per cent, to close at 162,803.16, after touching an intraday high of 163,935 points, up 2,303 points or 1.43pc. Mild profit-taking towards the close trimmed some early gains.

“Following Friday’s strong rally, the PSX continued its upward trajectory with a session of positive consolidation,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. He added that sentiment remained optimistic as investors built positions in key blue-chip counters.

On the economic front, the Consumer Price Index (CPI) climbed to 6.2pc year-on-year in October, the highest since the same month last year, compared to 5.6pc in September. Higher food and energy costs mainly drove the rise amid seasonal and supply-side pressures.

Sector-wise, fertiliser, banking, power, and technology stocks led the charge. Trading volumes slipped marginally by 0.36pc to 948 million shares, while the traded value increased 12.57pc to Rs47.5 billion. Hascol Petroleum dominated the volume chart, accounting for 119.5 million shares.

According to Topline Securities, the market’s upward momentum was fuelled by institutional inflows, particularly from local mutual funds, as reflected in NCCPL data.

Heavyweights, including Fauji Fertiliser, Engro Corporation, National Bank, Hub Power, and TRG Pakistan, were major contributors, collectively adding 1,131 points to the index’s rise. Analysts said the index remains within its consolidation range of 160,000-170,000 points, but sustained buying could see it test and possibly breach the 165,000 mark later this week.

Published in Dawn, November 4th, 2025