Pakistan Stock Exchange Recovers After Oil Price Volatility

The Pakistan Stock Exchange experienced a volatile two-day period, with the benchmark KSE-100 index recovering on Wednesday, October 21, 2026, after a significant drop the previous day. The index closed Wednesday at 165,930.99, gaining 779.34 points or 0.47 percent, which reversed much of the bearish momentum from Tuesday.

On Tuesday, the index fell 814 points to close at 165,151.64. This decline was driven by cautious investor sentiment as Brent crude prices hit a five-month high of approximately $109 per barrel. Market pressure was further intensified by regional geopolitical tensions, including Houthi attacks on Saudi infrastructure and vessels in the Gulf. Broad-based weakness hit the technology, commercial banking, refinery, and power sectors, though Attock Refinery reported a 13-fold increase in net profit.

Wednesday's recovery saw market capitalization rise to Rs 18.38 trillion. While regular-market turnover decreased to 379.9 million shares from Tuesday's 446.8 million, the total traded value increased to approximately Rs 21.28 billion. Pak Refinery led the volume chart, while Unilever Pakistan Foods Limited and PIA Holding Company Limited B emerged as top gainers. KTrade Securities noted that the market's near-term direction remains contingent on corporate earnings, geopolitical developments, and global oil prices.