Trading at the Pakistan Stock Exchange (PSX) remained bullish on Monday, with the benchmark KSE-100 Index closing the day at a new record high on.
Positive momentum was observed throughout the trading session, pushing the benchmark index to an intra-day high of 133,862.01.
At close, the KSE-100 settled at 133,370.14 level, an increase of 1,421.08 points or 1.08%.
The rally was fuelled by “strong performance in banking stocks amid expectations of robust earnings and dividend payouts for the June quarter”, brokerage house Topline Securities said in its post-market report.
“Textile stocks also advanced, likely supported by optimism over a potential tariff agreement with the US,” it said.
Major contributors to the index’s upward movement included HBL, FFC, BAFL, MCB, and LCI, which collectively added 476 points. On the flip side, the index faced some pressure from negative contributions by AICL, EFERT, and MARI.
The PSX kicked off fiscal year 2026 at a record high, with the KSE-100 index surpassing the 130,000 points mark for the first time. The index closed the previous week at 131,949 points, marking a 6.1% week-on-week increase.
The KSE-100 has showcased an “outstanding performance in FY25, leading all major asset classes with an impressive return of 60.15%”, said Arif Habib Limited (AHL).
Internationally, stock markets slipped in Asia on Monday amid confusion as US officials flagged a delay on tariffs but failed to provide much detail on the change, while oil prices slid as OPEC+ opened the supply spigots more than expected.
The United States is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates to take effect on August 1.
Trump in April announced a 10% base tariff rate on most countries and higher “reciprocal” rates ranging up to 50%, with an original deadline of this Wednesday.
However, Trump also said levies could range in value from “maybe 60% or 70%”, and threatened an extra 10% on countries aligning themselves with the “Anti-American policies” of the BRICS group of Brazil, Russia, India and China.
With very few actual trade deals done, analysts had always suspected the date would be pushed out, though it was still not clear if the new deadline applied to all trading partners or just some.
Investors have grown somewhat used to the uncertainty surrounding US trade policy and the initial market reaction was cautious. S&P 500 futures and Nasdaq futures both eased 0.3%.
EUROSTOXX 50 futures eased 0.1%, while FTSE futures fell 0.2% and DAX futures held steady.
Japan’s Nikkei lost 0.5%, while South Korean stocks went flat. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.6%, as Chinese blue chips dropped 0.5%.
Meanwhile, Pakistani rupee depreciated further to hit a 19-month low in the inter-bank market against the US dollar on Monday. At close, the currency settled at 284.22, a loss of Re0.25.
Volume on the all-share index increased to 919.91 million from 733.08 million recorded in the previous close.
The value of shares rose to Rs45.31 billion from Rs34.94 billion in the previous session.
Image Pakistan was the volume leader with 48.08 million shares, followed by B.O.Punjab with 42.51 million shares, and WorldCall Telecom with 36.92 million shares.
Shares of 479 companies were traded on Monday, of which 299 registered an increase, 155 recorded a fall, while 25 remained unchanged.