KSE-100 adds 3,987 points as oil and remittances lift market

The KSE-100 index gained 3,987 points, or 2.29 per cent, to close the outgoing week at 177,874, the Express Tribune reported, as falling international oil prices and strong October remittances lifted the Pakistan Stock Exchange while late profit-taking capped the rise.

Monday's session was lost to the Iqbal Day holiday, and the market returned on Tuesday with a 5,449-point gain, or 3.13 per cent, to 179,335. The index shed 252 points on Wednesday to 179,881 after approaching 180,000, then fell 1,710 points, or 0.95 per cent, to 177,374 on Thursday when an early rally above 180,000 faded. On the final day the index climbed as much as 1,911 points during the session to 179,284 before closing near 178,000.

Arif Habib Limited said the continuously declining oil price had eased inflation concerns among market participants. Remittances from overseas Pakistanis rose 14 per cent year on year to $3.9 billion in October 2026 from $3.4 billion in October 2025, and were 8 per cent higher than in the previous month. Inflows in the first four months of the current fiscal year reached $14.8 billion, up 14 per cent from a year earlier.

Mohsin Shafi Qureshi of JS Global said oil had slid to its lowest level since late August after Washington signalled restraint towards Iran, then rebounded on Thursday. Brent averaged $94 a barrel for the week, 6.2 per cent below the previous week's $100, and closed at $96.

Petrol and diesel prices were cut. Arif Habib Limited put the reductions at Rs21 a litre for motor spirit, to Rs332, and Rs22 for high-speed diesel, to Rs360; JS Global gave Rs20.59 and Rs22.25. The rupee gained 0.02 per cent to close at Rs276.60 to the dollar from Rs276.66.

Average trading volumes rose 27 per cent week on week to 1,083 million shares and traded value rose 36 per cent to $140 million, JS Global said.

The government raised Rs587 billion in a treasury bill auction, with cut-off yields falling 22 to 48 basis points across all tenors, according to Arif Habib Limited. Pakistan posted a budget surplus of Rs1,274 billion, or 0.9 per cent of GDP, for the first quarter of FY27, with FBR revenue at Rs3,086 billion, up 7 per cent, and markup payments at Rs1,700 billion, up 23 per cent.

Foreign exchange reserves stood at $26.8 billion on November 6, down $25.8 million, with the State Bank holding $21.6 billion and commercial banks $5.3 billion, equal to 3.03 months of import cover. The Asian Development Bank approved a second $500 million tranche for disaster resilience, and the Federal Constitutional Court dismissed review petitions against its super tax judgment.

Nepra notified an incremental tariff of Rs25.30 per unit for industrial and agricultural consumers, up from Rs22.98. Car sales rose 62 per cent month on month and 41 per cent year on year in October to 24,400 units; excluding Sazgar Engineering Works, which did not report its numbers, growth was 93 per cent and 53 per cent.