PSX jumps over 1,500 points on broad-based buying

Banks, energy, cement, auto stocks lead gains as investor confidence remains firm

The Pakistan Stock Exchange (PSX) kicked off the trading week with solid gains on Monday, as strong buying in banking, energy, cement and auto stocks lifted the benchmark KSE-100 Index by over 1,500 points.

After opening on a positive note, the market maintained its upward momentum throughout the session, with the benchmark index touching an intraday high of 187,328.50, reflecting sustained investor confidence.

At 9:39am, the KSE-100 index had already gained 993.00 points, or 0.54%, to reach 186,365.20. By 1:44pm, the index was trading at 186,950.90, up 1,578.70 points, or 0.85%, from the previous close of 185,372.20.

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Buying interest remained concentrated in major sectors, including commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), refinery, cement, fertiliser and automobile assemblers, providing broad-based support to the market.

During the session, the market moved between an intraday low of 185,910.38 and a high of 187,328.50 while traded volume stood at 241.16 million shares, with a turnover of approximately Rs23.92 billion.

Market participants attributed the continued rally to strong investor sentiment, persistent institutional buying, and optimism over the country's improving macroeconomic outlook, with heavyweight banking and energy stocks leading the gains.