PSX Rally Extends as KSE-100 Gains 3,450 Points
The Pakistan Stock Exchange extended its strong run on Thursday, with the benchmark KSE-100 index climbing to 175,464.01 by midday. The PSX rally added 3,450.53 points, or 2.01 per cent, to the previous close of 172,013.48.
The index touched an intraday high of 176,604.51 and a low of 174,291.25 during the session. Trading stayed active, with volume reaching 268.12 million shares and value standing at Rs22.68 billion while the market remained open. The Express Tribune reported the midday figures on Thursday. The market has now moved firmly above the 175,000 level, though it eased slightly from the session high.
The gains build on a strong session on Wednesday, when the KSE-100 rose by nearly 4,000 points to close at 172,013.48 amid broad-based buying. Over the two sessions, the benchmark has advanced by around 7,400 points, one of the sharpest two-day gains in recent months.
What drove the PSX rally
Buying interest continued as geopolitical concerns eased after the United States midterm elections. Results from the polls reduced the near-term risk of further escalation involving Iran, and that calmer outlook supported risk appetite across markets in the region.
International oil prices also remained under pressure, which helped sentiment in Pakistan. The country imports most of its oil, so lower crude prices ease pressure on the import bill and on inflation. That link matters for stocks in import-dependent sectors, where falling energy costs can lift margins.
Activity was visible across several counters early in the session. Banking, cement, and power-related stocks contributed to the overall volume, and buying spread beyond a few heavyweights. The broad base of the rally suggests that investors are acting on the wider outlook, not on a single stock or sector.
The rupee also posted a marginal gain against the dollar in interbank trading. A steadier currency adds to the case for holding local assets, and it reduces the fear that gains in rupee terms will be wiped out by depreciation.
A rally built on a strong week
The market has been moving up for several sessions, and the scale of the move is now hard to ignore. Feature Pakistan reported on an earlier PSX session this week, as buying stayed firm across the board. The latest two sessions have added far more than that in a single stretch.
New investors have also joined the market. Feature Pakistan reported that young investors have pushed PSX accounts to 656,218, a sign that the rally is reaching beyond the usual trading desks.
Oil prices and the wider economy
The rally has a clear link to energy prices. Oil has fallen for a fourth straight day as the risk of war with Iran eases, and Feature Pakistan reported that oil fell for a fourth day on expectations of lower risk. Cheaper oil helps Pakistan’s external account, and it supports the case for lower inflation.
External financing has also steadied the outlook. Pakistan has secured loan rollovers from China and Kuwait worth $4.3 billion, and Feature Pakistan reported that China and Kuwait assured Pakistan of $4.3 billion in loan rollovers. That support, alongside the earlier Saudi rollover, reduces the risk of a funding gap and gives investors more confidence.
What investors will watch next
Investors will watch global energy prices and any further cues from international markets as the session closes. The market has now moved firmly above 175,000, but it has eased from its high, and the close will show whether buyers hold their ground. Two-day gains of 7,400 points are rare, and markets often pause after such a run, so a short pullback would not undo the gains.
Frequently asked questions
How much did the KSE-100 gain on Thursday?
The KSE-100 index climbed 3,450.53 points, or 2.01 per cent, to 175,464.01 by midday on Thursday, 5 November 2026. It had closed at 172,013.48 on Wednesday.
How much has the market gained over two sessions?
The benchmark has advanced by around 7,400 points over Wednesday and Thursday. It rose by nearly 4,000 points on Wednesday and by 3,450 points by midday on Thursday.
What is driving the PSX rally?
Easing geopolitical concerns after the US midterm elections, lower international oil prices, broad-based buying in banking, cement, and power stocks, and a steadier rupee. External financing support from China, Kuwait, and Saudi Arabia has also helped sentiment.
What were the trading figures at midday?
Volume reached 268.12 million shares, with value standing at Rs22.68 billion. The index touched a high of 176,604.51 and a low of 174,291.25 during the session.
Will the rally continue?
That depends on oil prices, the geopolitical outlook, and whether buyers hold above the 175,000 level. Markets often pause after sharp gains, so some profit-taking would be normal.
