Stocks settle above new record 168,000 mark
The Pakistan Stock Exchange (PSX) extended its winning streak on Thursday, with the benchmark KSE-100 index closing above the 168,000-point mark for the first time, marking its sixth consecutive record-setting session. The index finished the day at 168,489.63, up 2,849.29 points, or 1.72 per cent. It briefly peaked at an intraday high of 168,619. The bullish momentum was largely driven by sustained buying from mutual funds, which bolstered investor confidence throughout the session. The banking sector was a key driver of the rally, with heavyweights such as Meezan Bank, United Bank, Bank Al-Habib, Habib Bank, and National Bank contributing 1,827 points to the index. However, gains were partially offset by profit-taking in stocks like Lucky Cement, Hub Power, and Systems Ltd, which together pulled back 192.05 points.