KARACHI: Bulls strengthened their grip on the Pakistan Stock Exchange as value buying continued for the fourth straight session on Thursday, pushing the benchmark KSE-100 index above the 167,000-point mark.
The rally reflected improved investor confidence amid diplomatic efforts to end the Middle East conflict, although persistently high oil prices continued to fuel inflationary pressures, driving up the cost of doing business and slowing economic activity.
Topline Securities Ltd said the index extended its bullish momentum, gaining 1,456.68 points, or 0.88 per cent, to close at 167,193.44. The market saw sustained buying interest across key sectors and improved sentiment amid ongoing corporate earnings announcements.
The index traded between 165,907 and 167,483 points, showing resilience and a strong recovery from its intraday low. Renewed buying in heavyweight banking and fertiliser stocks drove the positive momentum, while improved participation further reinforced bullish sentiment.
Fauji Fertiliser Company, Engro Holdings, Habib Bank Ltd, MCB Bank and United Bank Ltd were the leading positive contributors, collectively adding around 924 points to the benchmark index.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained positive, supported by optimism about potential Middle East peace talks. Qatari mediators reportedly presented Tehran with a new draft deal to end the US-Israeli war in Iran. However, an Iranian official dismissed the proposals as unacceptable, keeping geopolitical uncertainty elevated.
On the corporate front, Pakistan State Oil’s earnings per share for 1QFY27 surged 172pc year on year to Rs54.44, marking a turnaround from the Rs22.8bn loss reported in 4QFY26. The improvement was driven by higher sales volumes, higher petroleum prices and inventory gains.
Market activity strengthened considerably, with trading volume surging 41.29pc to 815 million shares and turnover rising 20.37pc to Rs31.5bn. Cnergyico PK led the volume chart with 184m shares.
Analysts expect the market to remain positive amid diplomatic hopes and strong corporate earnings, though geopolitical uncertainty and oil price volatility could trigger near-term volatility.
Published in Dawn, October 30th, 2026
