Pakistan Stock Exchange (PSX) began the new year on a strong footing, with the benchmark KSE-100 Index scaling a fresh all-time high amid broad-based buying by investors.

The KSE-100 Index surged by 2,301 points, or 1.32 per cent, to close at a record 176,355, crossing the key 176,000 milestone for the first time.

The rally persisted throughout the session, reflecting strong investor confidence and renewed interest at the start of the calendar year.

Market participants attributed the sharp rise to aggressive buying by local institutions, which helped sustain momentum across major sectors.

According to a market report by Topline Securities, institutional inflows at the beginning of the year played a key role in driving the index to new highs.

Heavyweight stocks led the advance, with United Bank Limited (UBL), Oil and Gas Development Company (OGDC), Engro Holdings, Habib Bank Limited (HBL), Lucky Cement and Bank Alfalah collectively adding more than 1,200 points to the index.

Trading activity remained robust, with shares of 565 companies changing hands.

Total volume stood at around 1.4 billion shares, while the traded value reached approximately Rs48 billion.

By value, OGDC, Pakistan International Bulk Terminal (PIBTL), The Searle Company, K-Electric and Bank of Punjab dominated the session.

Sector-wise, automobile assemblers, cables, cement, chemicals and banking stocks remained in the spotlight, reflecting broad-based participation.