Equities surge past 156,000-point milestone despite flood challenges

Amid ongoing economic challenges, including the aftermath of devastating floods, Pakistan’s stock market extended its bullish momentum for a seventh consecutive session on Monday. This remarkable rally saw the benchmark KSE 100 Index surpass the 156,000-point mark for the first time in the history of the Pakistan Stock Exchange (PSX), driven by strong corporate earnings reports. According to Topline Securities Ltd, the market began the week on a strong note, with the KSE 100 index reaching an all-time high of 156,199 points. Investor optimism fuelled an impressive intraday rally, as the index gained as much as 1,922 points before closing at 156,087 points, a rise of 1,810 points or 1.17 per cent. The rally was primarily supported by better-than-expected corporate earnings and strong liquidity from local institutional investors, propelling the index into uncharted territory.