The Pakistan Stock Exchange (PSX) 100-Index surged by 469.84 points, or 0.48 percent, on Friday, closing at an all-time high of 97,798.23 points, up from 97,328.39 points on the previous trading day.

The trading volume also saw a significant increase, with 1,249,092,089 shares exchanged, compared to 969,907,357 shares on the prior day. The total value of traded shares rose to Rs. 45.47 billion, up from Rs. 35.167 billion.

According to Topline Securities, the rally was primarily driven by the banking sector, as the index reached an intraday high of 2,295 points. This surge was largely fueled by rumors that the Pakistan Bankers Association proposed the removal of the Minimum Deposit Rate (MDR) on savings deposits for conventional banks.

However, some profit-taking occurred later in the day as investors considered the fact that the rumor had not been confirmed by authorities. The banking sector made a significant contribution to the index, with MEBL, BAHL, MCB, HBL, BAFL, and HMB collectively adding 1,139 points.

A total of 449 companies participated in the stock market, with 112 recording gains, 296 experiencing losses, and 41 remaining unchanged.

In terms of traded value, HBL led with Rs. 2.8 billion, followed by PSO with Rs. 2.3 billion, MARI with Rs. 2.1 billion, FFC with Rs. 1.93 billion, and OGDC with Rs. 1.74 billion.

Brokerage house Arif Habib Limited noted that market activity reached a 7.5-year high, with a traded value of Rs. 45.5 billion ($164 million). This marks the highest activity in the regular market since May 31, 2017, the day of the MSCI reclassification. Excluding that day, it is the highest traded value recorded since April 11, 2008, nearly a 17-year high.