KARACHI: Shrugging off the prevailing regional and political turmoil, which poses serious risks to macroeconomic stability amid inflationary pressures stemming from elevated oil prices and higher energy costs, the Pakistan Stock Exchange (PSX) on Thursday managed to sustain gains above the 166,000 level as equity investors continued their value-hunting for the second straight session, helping the benchmark KSE-100 index close higher.
Topline Securities Ltd said the index closed higher on Thursday, gaining 768.66 points, or 0.46 per cent, to settle at 166,186.17. It traded between 165,613 and 166,877, sustaining positive momentum throughout the session amid renewed buying interest.
The market’s recovery was supported by selective accumulation in key index-heavy stocks after the recent correction. However, investor sentiment remained cautious amid fluctuations in international oil prices, developments in the Middle East and locally, domestic macroeconomic indicators, and institutional fund flows.
Index sustains gains above 166,000 level on value-hunting
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX recorded another positive session, reclaiming the 166,000 level.
The market opened on a positive note and maintained its upward momentum throughout the session. However, profit-taking in select stocks at higher levels trimmed some of the gains.
On the geopolitical front, continued Houthi attacks on Saudi Arabia, targeting airports and oil facilities, heightened regional security risks.
Pakistan Telecommunication Company, Fauji Fertiliser, Systems Ltd, Hub Power, Oil and Gas Development Company, Meezan Bank, Lucky Cement, Habib Bank, Pakistan Petroleum and United Bank collectively contributed 560 points to the index.
Investor participation weakened, with trading volume dipping 11.65pc to 517.6 million shares. However, turnover rose 17.42pc to Rs23.5 billion. Cnergyico PK led the volume chart with 62.8 million shares.
Analysts believe that sustained gains above 166,000, supported by broad-based buying, signal a constructive near-term outlook. However, profit-taking near the intraday high, signalling that market participants are inclined to “sell on strength,” and escalating Houthi attacks on Saudi Arabia may keep investor sentiment cautious amid heightened geopolitical risks.
Published in Dawn, October 16th, 2026
