KARACHI: Pakistan’s stock market staged a powerful recovery during the week ended April 10, 2026, as the benchmark KSE-100 Index rebounded sharply, driven by easing geopolitical tensions, falling global oil prices and improved macroeconomic sentiment.
The KSE-100 Index surged by 16,792.67 points on a week-on-week basis, or 11.2 percent, to close at 167,191.37 points, compared with 150,398.70 points in the previous week. The index maintained strong upward momentum throughout, reflecting a renewed investor confidence.
The BRIndex100 opened at 16,721.22 points, touched a high of 18,885.03 points, and closed at the same level of 18,885.03 points, with total turnover of 3.09 billion shares. Meanwhile, the BRIndex30 opened at 57,551.20 points, reached a high of 66,595.14 points, and closed at 66,595.14 points, with turnover of approximately 2.27 billion shares, highlighting robust activity in blue-chip stocks.
The rally was primarily fuelled by improving geopolitical sentiment after Pakistan successfully brokered a temporary ceasefire between the United States and Iran, with further negotiations scheduled in Islamabad. This development significantly reduced regional risk perception and triggered broad-based buying across sectors.
A key supportive factor for the market was the decline in international oil prices. Arab Light crude fell by 12 percent during the week to around USD98 per barrel, easing inflationary concerns and contributing to a broad-based decline in KIBOR across all tenors, which improved liquidity conditions and equity valuations.
On the external front, Pakistan demonstrated strong debt management by successfully repaying an USD1.43 billion Eurobond, including USD1.3 billion principal along with accrued interest. Additionally, the government decided to repay USD2 billion in UAE deposits along with 6 percent interest, while an additional USD1 billion deposit maturing in July 2026 may also be repaid, taking the total potential outflow to USD3.5 billion.
Workers’ remittances remained robust, with inflows recorded at USD3.8 billion in March 2026, reflecting a 5 percent year-on-year decline. However, cumulative remittances for 9MFY26 reached USD30.3 billion, posting an 8 percent year-on-year increase, providing continued support to the external account. Meanwhile, foreign exchange reserves held by the State Bank of Pakistan remained stable at USD16.4 billion on a week-on-week basis.
Market capitalisation witnessed a significant expansion in line with the sharp rise in equities. Total market capitalisation increased to Rs18.47 trillion (USD66.21 billion), up 10.5 percent from Rs16.73 trillion (USD59.93 billion) in the previous week, reflecting a substantial improvement in investor wealth and valuations.
Trading activity also strengthened markedly. Average daily traded volume on the ready market was up by 55.5 percent to 764.75 million shares, compared with 491.83 million shares in the preceding week. In value terms, average daily turnover increased by 47.3 percent to Rs41.33 billion, while in dollar terms it rose 47.4 percent to USD148.11 million, indicating strong participation and renewed risk appetite.
Sector-wise, the rally was broad-based, with nearly all major sectors posting strong gains. Cement led the performance with a 17.3 percent increase, followed by engineering (16.9 percent), textile composite (13.8 percent), technology and communication (13.4 percent), pharmaceuticals (12.0 percent), fertiliser (11.4 percent), and automobiles (11.4 percent). Other sectors including oil marketing companies (10.7 percent), banks (10.2 percent), exploration and production (9.4 percent), power (9.4 percent), chemicals (7.4 percent), food (3.5 percent) and refinery (2.5 percent) also posted notable gains.
In terms of trading volumes, technology and communication and investment banks each accounted for 15 percent of total activity, followed by the power sector at 13 percent, banks at 9 percent, refinery at 7 percent, while other sectors collectively contributed 41 percent.
Among individual stocks, Ghani Automobile (GAL) emerged as the top gainer, surging 27.5 percent, followed by Kohinoor Textile Mills (KTML) up 27.4 percent, Maple Leaf Cement (MLCF) gaining 26.4 percent, DG Khan Cement (DGKC) rising 26.1 percent, Fauji Cement (FCCL) increasing 25.4 percent, Pakistan Aluminium Beverage Cans (PABC) up 24.6 percent, and Bank of Punjab (BOP), advancing 24.0 percent.
On the losing side, Pak Gulf Leasing Company (PGLC) declined 3.3 percent, Nestlé Pakistan fell 2.3 percent, and Dolmen City REIT (DCR) slipped 1.4 percent, indicating limited downside compared to the strong upside momentum in the broader market.
Overall, the week marked a decisive turnaround for Pakistan’s equity market, as easing geopolitical risks, declining oil prices and improved liquidity conditions drove a strong rally across sectors. Market participants now remain focused on the outcome of ongoing diplomatic engagements and global commodity price trends, which are expected to play a crucial role in determining the sustainability of the current upward momentum.
Copyright Business Recorder, 2026