KARACHI: Pakistani stocks extended their new year rally and breached the 182,000-point mark for the first time ever on Monday, with analysts attributing the gains to a fresh wave of cash inflows driven by increased liquidity.
The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) gained 3,373.30 points, or 1.88%, to close at 182,408.23, up from the previous close of 179,034.93.
Shahid Ali Habib, chief executive officer (CEO) at Arif Habib Limited, said a fresh wave of inflows from domestic institutions has fueled the strong start to the new year, with the index continuing to touch new all-time highs.
“Aggressive buying was seen today in blue chips which took the KSE-100 through the 180k mark,” he told Arab News.
“UBL (United Bank Limited), HBL (Habib Bank Limited) and ENGROH (Engro Holdings) contributed more than 1,000-points of the total 3,300-points DoD (day to day) gain (+1.88%).”
