The Pakistan Stock Exchange extended its bullish run on Thursday, with the benchmark KSE-100 index gaining 3,366.38 points, or 1.96 per cent, to close at 175,379.86, reclaiming the 175,000 level for the first time since 1 September.

The index touched an intraday high of 176,604.51 and a low of 174,291.25 during the session, after closing the previous day at 172,013.48. Total traded volume reached 999.81 million shares, up from 841.62 million a day earlier, with traded value of about Rs46.06 billion. The Shariah-compliant KMI-30 index jumped 4,834 points.

Market watchers linked the buying to hopes of a quick end to the Middle East conflict after the Democrats’ gains in the US midterm elections, and to a sharp retreat in international oil prices. West Texas Intermediate crude fell below $87 a barrel, while Brent dropped to $96 from $102, a decline of more than 8 per cent. Topline Securities said the rally extended the market’s bullish momentum to a fourth consecutive session, with strong buying across major sectors.

The close is a fresh milestone for the index, but it is framed here as reclaiming the 175,000 level rather than as an all-time high: yesterday’s session had already taken it past 172,000, and the two days’ gains together reflect the same post-midterms, lower-oil rally rather than two separate records.

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