ISLAMABAD: Pakistan’s benchmark stock index surged to a record high on Wednesday, driven by a sharp rally in banking stocks and a strengthening currency, as investors bet on continued macroeconomic stability and easing industrial tariffs under the country’s $7 billion IMF program.
The KSE-100 Index gained 2,051 points, or 1.43 percent, to close at 145,088 after rising more than 2,150 points during intraday trade.
“Banking stocks remained the star performers as HBL, NBP, MEBL, and UBL collectively contributed 1,017 points to the benchmark,” said Maaz Mulla, Vice President of Equity Sales at Topline Securities.
“HBL and NBP hit their upper circuits during intraday trade, although mild profit-taking toward the close trimmed some gains.”
Investor appetite remained strong, with traded volume climbing to 784 million shares and turnover reaching Rs 52.7 billion, both notably higher than in recent sessions. Bank of Punjab (BOP) led volumes with 67 million shares traded.
