KSE-100 surges over 2,500 points to cross 170,000 mark
The KSE-100 Index broke through 170,000 on Wednesday, trading at 170,585.81 by 1.19pm, up 2,566.95 points or 1.53% from the previous close of 168,018.86, as investors bet that a divided Washington could change the course of the US-Israeli war on Iran.
The buying started at the open, with the benchmark up 1,707.48 points, or 1.02%, at 169,726.34 by 10:04am, and gathered pace through the session to an intraday high of 170,695.39. The trigger, according to Token Times, was the US midterm outcome: Democrats won control of both the House of Representatives and the Senate, taking Congress from President Donald Trump's Republicans and setting up divided government when the new Congress takes office in January 2027.
Investors read that result as raising the prospect of diplomatic engagement and an easing of geopolitical tension, and appeared willing to look past the conflict itself for a more stable regional outlook. Qatar was also reported to be stepping up mediation to avert further escalation.
Oil gave back earlier losses as traders waited on Washington's next move. Brent crude futures rose 76 cents, or 0.7%, to $104.36 a barrel at 7:30am GMT, while US West Texas Intermediate gained 63 cents, or 0.7%, to $96.72, with supply-disruption risk around the Strait of Hormuz still in the price.
For Pakistani investors the session is a reminder of how much of the market's direction is set abroad: a US election result and a barrel price, not a domestic earnings release, did the work. The index's close above 170,000 now depends on whether the diplomatic opening investors priced in on Wednesday actually materialises.
