The Pakistan Stock Exchange (PSX) soared to a new all-time high on Monday, surpassing its previous record set just last week. The benchmark KSE-100 index jumped 1.76% or 1,203 points to close at 69,619, eclipsing the prior high of 68,416.
The rally began with the opening trade at 68,420 points and continued steadily throughout the day. By 1:30 PM, the index had already reached a new peak of 69,720.
The positive momentum was broad-based, with strong participation across all sectors. The KMI 30 index and the KSE All Share index also saw significant gains, closing at 116,884 and 45,697 respectively.
Analysts attributed the surge to a favorable ruling by the Lahore High Court for the pharmaceutical sector. The court decision, which nullified a stay order against price deregulation, led to a surge in pharmaceutical stocks. SEARL, AGP, and ABOT were among the top gainers, with their share prices rising by over 4.8%.
The strong performance continued throughout the day, with over 335.6 million shares traded and a total value exceeding Rs. 15.3 billion. This indicates a continued increase in investor confidence and potential for further growth in the near future.
Pakistan Telecommunication Company (PTC) led the trading volume with over 33.7 million shares exchanged, followed by The Searle Company (SEARL) and Worldcall Telecom (WTL).
Market observers believe that the PSX is nearing a liquidity level of Rs. 70,000 billion, indicating a potentially robust market environment. Investors are reportedly focusing on value hunting, particularly in blue-chip stocks, suggesting a continued preference for established companies.
