Pakistan Stock Exchange’s benchmark index remained on a bullish trend on the fifth consecutive day and crossed another milestone by reaching a historic level of 89,993.97 points on Friday.

According to the PSX website, the KSE-100 index gained 1,047.98 points, showing a positive change of 1.18 per cent when compared to last day’s trading of compared to 88,945.99 points.

In the intraday trade, the benchmark index soared past the 90,000-point mark during intra-day trading, peaking at 90,087.41 points at 10am.

A total of 695,544,676 shares were traded during the day as compared to 757,648,007 shares the previous trading day, whereas the price of shares stood at Rs37.873 billion against Rs36.047 billion on the last trading day.

As many as 457 companies transacted their shares in the stock market, 181 of them recorded gains and 222 sustained losses, whereas the share price of 54 companies remained unchanged.

Investor confidence has been bolstered by positive economic reforms and government initiatives, with a total of 62,341,937 shares traded, indicating robust market activity. The total value of shares traded reached approximately Rs5.06 billion.

On Thursday, the KSE-100 index surged nearly 1,750 points, closing at 88,945.99, as investor interest in blue-chip stocks grew amid expectations of significant policy rate cuts in the upcoming monetary policy announcement. The market saw steady advancement, with the index hitting an intra-day high of 89,126.16 points after midday.

Ahsan Mehanti, Managing Director of Arif Habib Corp, noted, “Stocks closed at an all-time high, led by blue-chip shares, amid speculation in the earnings season.”

The rally was fueled by rising global crude oil prices, positive discussions regarding Chinese energy debt restructuring, and potential cuts in the State Bank’s policy rate.

Topline Securities reported that the index reached an all-time high of 89,126, closing up 1,751.45 points, or 2.01%. Investor optimism surrounding the November 4 monetary policy meeting, where further policy rate cuts are anticipated, contributed to a wave of stock buying.

Arif Habib Limited highlighted strong performance from blue-chip stocks, while notable gainers included Fauji Fertiliser Company (+6.7%) and United Bank Limited (+5.33%). Conversely, Systems Limited (-1.53%) and Interloop Limited (-2.74%) were among the largest decliners.

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In corporate earnings news, Maple Leaf Cement reported an EPS of Rs1.28 for Q1 FY25, down 17% year-on-year, attributed to a 16% decline in local dispatches. Interloop Limited saw a sharp 94% drop in EPS to Rs0.24 due to increased tax rates and lower gross profit.

Looking ahead, analysts expect a policy rate cut of 200 to 250 basis points in the upcoming monetary policy meeting, which could further shift investments from fixed income to equities. Trading volumes climbed to 757.6 million shares, with K-Electric leading the volumes at 113.2 million shares, closing at Rs4.82. Foreign investors sold shares worth Rs2.68 billion, according to the NCCPL.