KARACHI: Equity investors remained in a bullish frame of mind on Thursday, as expectations of a quick end to the Middle East conflict, following the Democrats’ surge in the US midterm elections and a sharp reversal in oil prices, allowed the Pakistan Stock Exchange (PSX) to reclaim the 175,000 milestone.
Topline Securities Ltd said the PSX extended its bullish momentum for the fourth consecutive session, as strong buying interest across major sectors continued to support the benchmark index, which gained 3,366.38 points, or 1.96 per cent, to close at 175,380 points, further strengthening investor confidence and market sentiment.
The positive momentum was driven mainly by easing geopolitical concerns, declining international oil prices, and expectations of improved global economic stability following developments in the US midterm election.
Buying activity remained broad-based, with key sectors including commercial banks, cement, automobile assemblers, oil and gas exploration companies, and oil marketing companies attracting significant investor interest.
The index touched an intraday high of approximately 176,605 points before witnessing some profit-taking at higher levels. Nevertheless, the broader market maintained a positive tone,
United Bank, Lucky Cement, Meezan Bank, Systems Ltd, Engro Holdings, Bank Al-Habib, Habib Bank, Hub Power, Oil and Gas Development Company and Pakistan Petroleum were the major contributors to the rally, collectively adding approximately 1,981 points. Their performance provided substantial support for the market’s overall upward movement.
Investor participation improved further as trading volume rose 18.79pc to 999.8 million shares and total traded value increased 30.14pc to Rs46.1 billion.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX extended its bullish momentum, buoyed by a sharp correction in international oil prices following the Democrats’ sweeping gains in the US midterm elections. WTI crude fell below $87 per barrel, while Brent fell to $96 per barrel from $102 per barrel, marking a decline of over 8pc.
The sharp retreat in oil prices improved investor sentiment, triggering broad-based buying and helping the benchmark index reclaim the 175,000 level for the first time since Sept 1.
The US election results fuelled optimism about a potential de-escalation in the Middle East conflict, easing concerns about further geopolitical escalation and supporting a broader recovery in global risk appetite.
Published in Dawn, November 6th, 2026
