Pakistan’s stock market demonstrated strong bullish momentum as the KSE-100 Index surged 2,185 points to close at 165,373. This robust 1.34% gain marked the benchmark’s first close above the psychologically significant 165,000 level in 25 days.
According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, the sustained rally stemmed from investor optimism surrounding Pakistan’s upcoming IMF Board meeting on December 8. The market responded positively to the Staff-Level Agreement for the $7 billion EFF program and $1.4 billion RSF facility review.
Additional bullish sentiment came from reports that the Reko Diq mining project will achieve financial close within two weeks, securing $3.5 billion for the copper and gold venture.
Read: Pakistan Targets Zero Circular Debt Inflow for IMF $1.2bn Tranche
Exploration and production stocks led the charge, with PPL and OGDC contributing a combined 303 points to the index gains. FATIMA and LUCK also saw significant buying interest due to their mining sector exposure, adding another 331 points collectively.
Trading activity remained healthy, with 495.7 million shares changing hands, generating a total turnover of Rs 30.5 billion. DSL topped the volume chart with 48.4 million shares traded.
With the KSE-100 successfully reclaiming the 165,000 level, analysts anticipate the bullish trend may continue. The index could potentially extend its gains through Friday, supported by end-of-month window dressing activities, and possibly break out of its current 160,000–170,000 consolidation range.
