A wave of positive developments kept the Pakistan Stock Exchange buoyant this week, with the KSE-100 index surging 2,779 points (1.66%) to close at a record high of 169,865.

The rally was sparked by the IMF Executive Board’s approval of a $1.2 billion loan tranche early in the week, setting a confident tone for investors. Additionally, encouraging progress on resolving the power sector’s circular debt further bolstered market sentiment.

In this episode of Stock Watch, presented by HBL and powered by Chase Securities, Nukta’s Shuja Qureshi and Shahbaz Ashraf sit down with Mustafa Mustansir, Director Research at Taurus Securities, to explore the market outlook for 2026, including key triggers and potential risks on the horizon.