The Pakistan Stock Exchange (PSX) KSE100-Index reached a record high on Monday, gaining 281.55 points to close at 98,079.78, surpassing the previous close of 97,798.23 points.

Trading volume for the day totaled 640,258,528 shares, a decrease from the 1,249,092,089 shares traded on the previous day. The total value of traded shares stood at Rs. 25.623 billion, down from Rs. 45.475 billion on the last trading day.

Out of 460 companies that traded shares, 220 recorded gains, 185 experienced losses, and 55 remained unchanged.

Brokerage firm Topline Securities noted that the market reached an intraday high of 99,317 points. Investor confidence was bolstered by unconfirmed reports suggesting that the State Bank of Pakistan (SBP) might offer banks some relaxation on minimum deposit rates for savers.

Key contributors to the index’s rise included Bank AL Habib Limited (BAHL), United Bank Limited (UBL), Meezan Bank Limited (MEBL), Systems Limited (SYS), and MCB Bank Limited (MCB), which collectively added 555 points to the index, according to Topline Securities