KARACHI: Signs of political turbulence have intensified as the federal government hinted at imposing governor’s rule in PTI-led Khyber Pakhtunkhwa amid a deteriorating law and order situation driven by rising terrorist attacks.
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Despite the uncertainty, equity investors showed remarkable resilience, pushing the Pakistan Stock Exchange (PSX) higher for the fourth consecutive session on Monday. The benchmark KSE-100 index surged past the 168,000-point milestone, closing at 168,062.19—up 1,384.50 points or 0.83 per cent—according to data from Topline Securities.
Throughout the session, the index fluctuated between an intraday high of 168,246 and a low of 166,024, with sentiment boosted by robust institutional buying reflected in NCCPL statistics.
Major contributions came from heavyweights including Hub Power, Oil and Gas Development Company, Lucky Cement, Mari Petroleum and MCB Bank, which collectively added around 622 points to the day’s rally.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market opened December on strong footing, building on last week’s bullish momentum as investors increased equity exposure.
Energy stocks fueled the upward trend amid expectations of a circular debt–related payment this week. Investors also drew confidence from easing inflation, with CPI dropping to 6.1pc in November from 6.2pc in October, supported by improved supply chains and stable perishable food prices. Analysts said the macroeconomic backdrop provided a favourable environment for continued buying.
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Market activity remained vibrant, with trading volumes rising 24pc to 735.5 million shares. The total traded value also increased 10pc to Rs46.1 billion, while First National Equities Ltd led the volume chart with 70 million shares. Analysts predict the bullish run will continue, with the index likely to set new all-time highs next week. However, they caution that the 164,000–165,000 range will serve as the immediate support level.