By Muhammad Kashif
KARACHI: The stock market continued its bullish run for the second straight week, crossing the 134,000-point threshold amid strong macroeconomic fundamentals and persistent buying by local mutual funds. A surge in workers’ remittances, robust auto sales, and improved foreign exchange reserves provided a solid backdrop for investor optimism, helping offset subdued participation and minor currency depreciation.
The benchmark KSE-100 index closed at 134,299.77, gaining 2pc or 2,351 points on a weekly basis. According to Topline Securities Ltd, the rally was largely driven by mutual funds, which recorded net inflows of $30m month-to-date as of Friday’s close. The average traded volume stood at 948m shares, while traded value amounted to Rs38.8bn.
Key macro indicators underpinned market sentiment. Workers’ remittances rose to a historic $3.4bn in June, up 8pc year-on-year, taking full-year FY25 inflows to a record $38.3bn — a 27pc increase over the previous year. Concurrently, the State Bank of Pakistan’s fo