ISLAMABAD: Pakistan’s stock market maintained its bullish momentum on Monday, buoyed by reports of potential US investment in the energy sector and comments from the state finance minister that Islamabad and Washington would fine tune the details of a trade pact in the months ahead.
The KSE-100 Index climbed past the 147,000 points mark during intraday trading and closed at 146,929.84, up 1,547.05 points, or 1.06 percent, from Friday’s close of 145,382.79.
Positive investor sentiment has been underpinned by US President Donald Trump’s 19 percent tariffs on Pakistani imports announced last month, which officials say will pave the way for renewed investment by American firms and deepen economic ties between the two countries.
Topline Securities, a Karachi-based brokerage, said market giants like Mari Petroleum Company (MARI), Bank AL Habib Limited (BAHL), Oil and Gas Development Company (OGDC), Meezan Bank Limited (MEBL) and Muslim Commercial Bank (MCB) dominated Monday’s rally, collectively adding 959 points to the index.
“Sentiment surged after reports of US firms gearing up to invest in Pakistan’s energy sector, further reinforced by better-than-expected corporate results that added to the market’s upbeat tone,” the report said.
