Pakistan’s benchmark KSE-100 index surged over 1,200 points on Monday, closing above 99,000, despite an initially weak start.

The market rebound was driven primarily by gains in the banking sector, with significant increases seen in stocks like HBL, NBP, MEBL, UBL, and MCB. Fertilizer and pharmaceutical companies also contributed to the positive performance.

However, the rally occurred amidst ongoing political uncertainty domestically and against a backdrop of global market optimism.

Asian markets rallied, boosted by a decline in US bond yields following the appointment of Scott Bessent as the likely next US Treasury Secretary, and US futures also pointed upwards.