KSE-100 gains 2,653 points as banks, cement, oil & gas, and automobile stocks lead rally
The bullish momentum at the Pakistan Stock Exchange (PSX) remained firmly intact on Tuesday, as aggressive buying drove the benchmark KSE-100 index past the 185,000 mark, setting yet another historic high. The market posted fresh intra-day highs and a record close, reflecting strong investor confidence at the advent of CY26.
The index recorded an intra-day high of 185,481.45 and a low of 181,182.07, before adding 2,653.87 points, or 1.45%, to close at 185,062.11.
Buying interest was broad-based, with strong participation seen across key sectors including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation, and refineries. The depth of sectoral participation highlighted the strength of the ongoing rally.
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On the energy front, oil production increased by 0.9% week-on-week to 64,709 bopd, while gas production rebounded to 2,836 mmcfd, supported by higher output from Mari, Uch, Qadirpur, and Sui. Gas volumes had earlier been impacted by ATA at FFC’s Plant-II and subdued power sector demand, making the rebound a notable positive development for the sector.
In another key market development, United Bank Limited (UBL) emerged as the largest listed company on the PSX, with its market capitalisation surpassing Rs1.29 trillion (approximately $4.6 billion), overtaking Oil and Gas Development Company (OGDC), a milestone reflecting strong investor confidence in the banking sector.
KSE-100 on a historic run
From banks to cement, autos to telecom — these KSE-100 stocks didn’t just perform well, they outperformed the benchmark index for two consecutive years on total return basis.
2024 set the pace. 2025 kept the momentum alive.
Consistency is the real alpha pic.twitter.com/viHeQGDY85— PSX (@pakstockexgltd) January 6, 2026
Overall, the market’s upward trajectory continued to be supported by liquidity-driven buying, ongoing asset class conversion, and upbeat investor sentiment, keeping the rally persistent and reinforcing a positive outlook for equities.
KTrade Securities noted in its market wrap that PSX sustained its bullish momentum, closing the session firmly in the green as the KSE-100 index advanced 2,653 points, +1.45% day-on-day (DoD) to settle at 185,062 points.
The rally remained broad-based and orderly, reflecting continued investor confidence amid improving macro conditions. All-share volumes stood at a healthy 1.3 billion shares, indicating sustained participation and liquidity, it added.
Sector-wise, commercial banks once again led the charge, supported by cements and investment banking companies, which collectively anchored the market’s upside. In terms of index contribution, heavyweights including MCB Bank, United Bank, Meezan Bank, Hub Power, Habib Bank, Lucky Cement, Engro Holdings, National Bank and Attock Refinery added the bulk of points, providing depth and stability to the rally.
Overall market sentiment remained upbeat, with momentum favouring large-cap and fundamentally strong names. “As macroeconomic indicators continue to improve, KTrade expected the ongoing rally to continue, keeping the broader trend positive with further upside potential in the near term.”
Overall trading volume decreased to 1.30 billion shares compared with Monday’s tally of 1.38 billion. Value of traded shares stood at Rs85.3 billion. Shares of 485 companies were traded. Of these, 238 closed higher, 218 fell and 29 remained unchanged. K-Electric led the volume chart with trading in 109.7 million shares, rising Rs0.22 to close at Rs6.56.
