Despite a slow start, Pakistan’s benchmark KSE-100 index rose more than 1,200 points on Monday, closing above 99,000.
Gains in the banking industry were the main driver of the market recovery, with notable increases observed in equities such as HBL, NBP, MEBL, UBL, and MCB. The good performance was also a result of fertilizer and pharmaceutical firms.
Nonetheless, the surge took place against a backdrop of optimism in the global market and continued political unpredictability at home.
Following Scott Bessent’s confirmation as the likely next US Treasury Secretary, US bond yields dropped, which helped Asian markets rally. US futures also headed higher.
