The bullish streak at the Pakistan Stock Exchange (PSX) strengthened on Thursday as the benchmark KSE-100 Index surged 2,849 points, or 1.72%, to close at an all-time high of 168,489.

The index maintained strong upward momentum throughout the session, hitting an intraday peak of 168,619, driven largely by aggressive mutual fund buying that fueled investor confidence and market sentiment.

According to a report by Topline Securities, the banking sector spearheaded the rally. Meezan Bank Limited (MEBL), United Bank Limited (UBL), Bank AL Habib Limited (BAHL), Habib Bank Limited (HBL), and National Bank of Pakistan (NBP) collectively added 1,827 points to the index.

However, profit-taking in select heavyweights, including Lucky Cement Limited (LUCK), Hub Power Company Limited (HUBC), and Systems Limited (SYS), trimmed 192 points from the overall gains.

Market activity remained exceptionally robust, with traded volumes soaring to 1,569 million shares and turnover clocking in at Rs70.1 billion. Bank of Punjab (BOP) dominated the volume chart, with 148 million shares changing hands during the session.

Thursday’s strong close followed a mixed performance a day earlier, when the KSE-100 Index had added a modest 146.75 points to settle at 165,640.34 amid volatile intraday swings.