KARACHI: Pakistan Stock Exchange (PSX) extended its bullish run on Thursday, as a sharp retreat in international oil prices and improved global risk appetite following the US midterm elections triggered broad-based buying.
The benchmark KSE-100 Index advanced by 3,366.38 points, or 1.96 percent, to close at 175,379.87 points compared with 172,013.48 points in the previous session. During the day, it reached an intraday high of 176,604.52 points and a low of 174,291.26 points.
Business Recorder’s benchmark indices also reflected positive momentum across sectors. BRIndex100 closed at 19,336.40 points, gaining 401.16 points, or 2.12 percent, on a total volume of 769.497 million shares. BRIndex30 rose by 1,544.44 points, or 2.31 percent, to close at 68,400.75 points, with total volume standing at 511.968 million shares.
West Texas Intermediate (WTI) crude declined below US$87 per barrel, while Brent fell to US$96 per barrel from US$102 in the previous session, marking a decline of more than 8 percent. The drop in oil prices improved investor sentiment, while sweeping Democratic gains in the US midterm elections fuelled optimism over a potential de-escalation in the Middle East conflict, easing concerns about further geopolitical escalation.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the market extended its bullish momentum for another session, firmly reclaiming the 175,000-point psychological barrier. He noted that UBL, LUCK, MEBL, SYS, ENGROH, BAHL, HBL, HUBC, OGDC and PPL were the major contributors to the rally, collectively adding approximately 1,981 points to the benchmark index.
Ready-market activity increased in both share volume and traded value. Total turnover stood at 999.812 million shares compared with 841.615 million shares in the previous session, an increase of 158.197 million shares, or 18.79 percent. The total traded value expanded to Rs. 46.062 billion from Rs. 35.392 billion, an addition of Rs. 10.670 billion, or 30.15 percent.
Total market capitalisation expanded by Rs. 335.771 billion to Rs. 19.113 trillion from Rs. 18.777 trillion previously. Market breadth leaned heavily positive, with 365 companies advancing, 103 declining and 33 remaining unchanged out of 501 active issues.
Cnergyico PK led ready-market turnover with 74.002 million shares. The stock closed at Rs. 12.06 against the previous close of Rs. 11.97. Bank of Punjab (B.O.Punjab) followed with 69.726 million shares. settled at Rs. 31.70 compared with Rs. 30.90 previously. K-Electric Ltd. recorded a turnover of 61.114 million shares. The stock ended the day at Rs. 6.14 against the previous close of Rs. 6.00.
Among ready-market price gainers, PIA Holding Company LimitedB recorded the largest increase, rising by Rs. 220.01 to close at Rs. 14,000.00. Thal Industries Corporation Limited followed, gaining Rs. 79.45 to settle at Rs. 873.97.
On the losing side, Unilever Pakistan Foods Limited recorded the largest decline, shedding Rs. 98.57 to finish at Rs. 25,703.00. Rafhan Maize Products Company Limited followed, falling by Rs. 56.49 to close at Rs. 8,501.25.
Sectoral performance remained strongly positive. The BR Automobile Assembler Index closed at 22,425.42 points, up 467.28 points, or 2.13 percent, on turnover of 4.447 million shares. The BR Cement Index gained 479.22 points, or 3.98 percent, to settle at 12,525.32 points, with turnover of 78.053 million shares.
The BR Commercial Banks Index advanced by 1,463.48 points, or 2.44 percent, to close at 61,424.66 points, on turnover of 107.112 million shares. The BR Power Generation and Distribution Index increased by 532.70 points, or 2.06 percent, to 26,398.60 points, with turnover of 91.563 million shares.
The BR Oil and Gas Index rose by 152.85 points, or 1.02 percent, to close at 15,191.76 points, on turnover of 69.541 million shares. The BR Tech. & Comm. Index gained 118.15 points, or 3.91 percent, to settle at 3,138.37 points, with total turnover of 112.023 million shares.
Ali Najib said the market was likely to maintain its bullish momentum amid easing oil prices and improved global risk appetite. However, he cautioned that profit-taking could emerge at higher levels, potentially keeping investors selective and cautious.
Copyright Business Recorder, 2026
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