The index hit an intraday peak of 1,646 points before profit-taking trimmed some gains, but aggressive institutional buying kept the momentum intact.

According to Topline Securities, the rally was largely fuelled by local mutual funds, with NCCPL data showing hefty net purchases carried over from Friday’s session.

Major support came from Fertilizer, Oil & Gas, and Banking heavyweights, with FFC, PSO, HBL, NBP, and FABL together contributing +1,017 points.

However, selling pressure in ENGROH, LUCK, DGKC, and MTL shaved off 206 points from the index.

Overall market participation was healthy, though slightly slower than the previous session.

A total of 1.282 billion shares were traded across 482 companies, with a value of Rs65.7 billion. WorldCall Telecom (WTL) led the volumes chart with 118 million shares changing hands.

Analysts said strong institutional inflows, coupled with improving investor sentiment, helped the bulls extend their run and push the market into uncharted territory.