The Pakistan Stock Exchange (PSX) kicked off the week with a roaring rally on Monday, smashing through previous records with an impressive jump of 3,373 points. As the index soared above the 182,400 mark, investors were all smiles, banking on hopes of a rate cut and steady economic growth.
Trading was brisk throughout the session, with the KSE-100 benchmark hitting an intra-day high of 183,964 and dipping to a low of 179,535, showing just how active the market was. Sectors like fertiliser, cement, commercial banking, and oil & gas saw the lions’ share of action.
Investor enthusiasm got a boost from fresh buying at the start of the new year and whispers of a potential rate cut in the upcoming monetary policy announcement in January.
By the time the closing bell rang, the KSE-100 had notched up a staggering gain of 3,373.31 points, climbing 1.88% to finish at 182,408.24.
“Optimism is running high thanks to expectations of easier monetary policy, stronger external accounts, and steady reforms paired with political stability,” said Mohammed Awais Ashraf, Director of Research at AKD Securities, talking to The Express Tribune.
Ashraf added that weaker returns in other markets and a stronger rupee could make stocks the go-to investment for the year 2026. He predicts the KSE-100 will reach 263,800 by December 2026—a whopping 53% rise, or 48.4% when adjusted in US dollars. This could push the index to a record $100 billion market cap. Ashraf also believes improved ties with the US and GCC nations will help revive foreign investment in Pakistan.
JS Global’s Head of Equity Research, Waqas Ghani, weighed in to say the breakout above the 180,000 mark confirms that greater macro stability and attractive market valuations can keep the rally going. He expects that investors will need to be smart about picking stocks this year, as broad gains might not be as widespread.
Topline Securities reported that the local market kicked off 2024 with a powerful performance, as heavy buying by local mutual funds set the stage for an emphatic bullish session. The anticipation of a rate cut drove investors to participate across the board.
The benchmark index scaled an intra-day high of 4,929 points before settling at 182,408, posting an eye-catching
