KEY POINTS
- KSE-100 Index jumps 2,436.69 points to close at 166,242.90 on Monday.
- Surge driven by Pak-Afghan ceasefire and improved investor sentiment.
- Banking, oil & gas, and fertilizer sectors lead gains.
- Minor declines in textile and power stocks; some large-cap industrials unchanged.
- Outlook remains cautiously positive ahead of Istanbul follow-up talks
ISLAMABAD: Pakistan bourse bagged 1.49 per cent on Monday by registering a fresh bullish momentum following positive signals from the international financial institutions and a ceasefire agreement with the Afghan Taliban.
The Pakistan Stock Exchange (PSX) witnessed a sharp uptick during the opening session of the week as a buying spree sent the benchmark KSE-100 Index soaring by 2,436.69 points to close at 166,242.90.
The intra-day high touched 166,421.33 points, reflecting robust buying sentiment across key sectors.
Market Performance
The session opened at 163,098.19 points and moved steadily upward amid strong participation from institutional and retail investors.
Trading activity was robust with a total of over 1.478 billion shares exchanged, valued at PKR 51.87 billion across 451,094 trades.
By the close, the KSE-30 and KMI-30 indices also recorded appreciable gains, while the All-Share Index advanced, consolidating the week’s upward trend.
Market breadth showed 324 gainers, 128 losers, and 58 unchanged scrips, indicating broad-based support for equities.
Factors Driving the Rally
Investor optimism was largely fueled by the announcement of an immediate ceasefire following high-level talks in Doha, Qatar.
Defence Minister Khawaja Asif confirmed that both countries had pledged to respect each other’s sovereignty and territorial integrity.
The next round of discussions is scheduled for October 25 in Istanbul, Turkiye, to establish a monitoring mechanism.
Market sentiment was further strengthened by the positive spillovers from Pakistan’s staff-level agreement with the International Monetary Fund (IMF), reassuring investors on the economic policy front.
Global cues, including stronger-than-expected Chinese economic data and a rebound in Asian equity markets, also contributed to the upbeat mood.
Sector Highlights The banking sector led the gains, supported by robust earnings and steady investor interest.
Oil and gas exploration companies recorded healthy upticks, while fertiliser stocks demonstrated resilience amid the broader rally.
Conversely, select textile and power generation stocks experienced minor declines due to profit-taking, while several large-cap industrial and cement stocks remained largely unchanged.
Outlook
Analysts noted that while the immediate surge reflects confidence in regional stability and economic measures, investors are expected to remain cautious ahead of the Istanbul follow-up meeting and upcoming global economic releases.
The market’s trajectory in the coming days will likely hinge on both domestic policy clarity and evolving geopolitical developments.
