The Pakistan Stock Exchange has crossed another historic milestone. The benchmark KSE-100 Index closed above 175,000 points for the first time ever on Thursday, 5 November 2026, gaining 3,366.38 points in a single session to settle at 175,379.86.
The rally capped a remarkable two days for the market. A day earlier, on Wednesday, the index had jumped 3,994.62 points, or 2.38 per cent, to close above 172,000 for the first time. Together, the two sessions added 7,361 points — one of the fastest two-day climbs in the market’s history — and almost completely erased October’s decline, when the index had slipped 2.1 per cent to end the month at 166,409. Thursday was the fourth consecutive session of gains for the benchmark, and the index is now up 5.39 per cent for the week.
The KSE-100 is the Pakistan Stock Exchange’s benchmark index, tracking the 100 largest listed companies by free-float market capitalisation. When the index crosses a round number such as 175,000, it is read as a signal of how investors view the economy as a whole, and Thursday’s close was the highest closing level the market has ever recorded.
A record close after a volatile session
Thursday’s session was anything but a straight line up. The index opened strongly and pushed to an intraday high of 176,604.51 — up 4,591.03 points at its peak — before profit-taking pulled it back towards its low of 174,291.25. Fresh buying in the afternoon steadied the market, and it closed near the day’s highs.
Trading was heavy. Nearly one billion shares — 999.81 million — changed hands, with the total traded value rising to Rs46.06 billion. Market breadth was firmly positive: 365 shares advanced, 117 declined and 38 closed unchanged. Among index companies, 85 closed higher, 13 lower and two unchanged. The Shariah-compliant KMI-30 Index also had a strong day, rising 4,834.26 points, or 1.96 per cent, to close at 251,232.44.
What is pushing the market higher
Investors have several reasons to cheer. Global oil prices have now fallen for four consecutive sessions, easing cost pressures for an import-dependent economy and lifting sentiment across heavyweight sectors. Cement and commercial banking stocks led Thursday’s gains.
The results of the United States midterm elections also helped. Markets took the outcome as a signal that the risk of a further escalation in Middle East tensions had eased, encouraging buying across emerging markets. At home, investors welcomed reports that the government plans to abolish the super tax, a levy that has long weighed on corporate earnings.
A flood of new investors
Behind the rally is a striking change in who is buying shares. More than 26,000 new accounts were opened at the Pakistan Stock Exchange during October, taking the total investor base past 683,000, according to figures from the Securities and Exchange Commission of Pakistan. It was the second monthly record in a row for new accounts.
The surge follows a 43.5 per cent gain in the KSE-100 during the fiscal year that ended in June, a run that appears to be drawing first-time investors into the market in large numbers. For a market that spent much of October sliding, the sudden arrival of new money has been one of the clearest signs that sentiment has turned.
What comes next
Even after the two-day surge, the market remains about 8 per cent below its 52-week high of 191,032.73, so this is a recovery rally rather than a new all-time high. The Pakistan Stock Exchange will remain closed on Monday, 9 November, for Iqbal Day, giving investors a long weekend to digest the gains. When trading resumes on Tuesday, the question will be whether the buying can hold above 175,000 — and whether the flood of new investors keeps coming.
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