The bullish momentum from previous sessions carried over into Thursday’s market, fuelled by strong institutional support, particularly from local mutual funds, pushing the KSE-100 Index to a new all-time high.

The index surged by 993 points intraday, before closing with a net gain of 559 points at 145,647 points.

According to NCCPL data, institutional inflows were robust, particularly from local mutual funds, which underpinned the market’s optimism.

The rally was largely driven by index-heavyweights, including Pakistan Petroleum Limited (PPL), Habib Bank Limited (HBL), Engro Fertilizers Limited (EFERT), Systems Limited (SYS), and Oil & Gas Development Company (OGDC).

Collectively, these stocks contributed a massive 738 points to the index’s upward trajectory.

Market participation remained strong, with total traded volume reaching 711 million shares and a traded value of Rs55.6 billion. PPL led the volumes chart, with 33 million shares changing hands during the session.

Ahsan Mehanti of Arif Habib Corp attributed the market’s record close to several key factors, including the 17 per cent YoY surge in export data for July 2025.

He also highlighted the stability of the Pakistani rupee, rising global crude oil prices, positive global equities, and expectations of a favourable US-Pakistan tariff deal as significant catalysts in today’s rally.