Pakistan Stock Exchange rockets 5,700 Points in Biggest Rally of the Week

2026-02-18 - 13:03

KARACHI – After days of falling numbers, Pakistan Stock Exchange woke up to different rhythm on Wednesday. Investors, who had been biting their nails as the KSE-100 tumbled, watched in amazement as the market rallied like a phoenix rising from ashes. Benchmark KSE-100 Index skyrocketing 3.3%. Investors were treated to a rollercoaster session as the index swung dramatically, eventually closing at 178,853.09, up 5,702.68 points! The day started with strong momentum, pushing the index toward the 177,000 level on robust buying interest. Afternoon profit-taking briefly slowed the rally, dropping it to 175,000–175,500, before a surge in late trading sent it to an intraday high of 178,974.16. This electrifying recovery coincides with a major economic turnaround: Pakistan’s current account returned to surplus in January 2026, fueled by rising workers’ remittances. The State Bank of Pakistan reported a $121 million surplus, reversing December 2025’s $265 million deficit, and improving from January 2025’s $393 million deficit year-on-year. Tuesday’s gloom couldn’t have been more different: the market was weighed down by foreign and local selling, with broad declines across banking, energy, power, and telecom sectors, dragging the KSE-100 down 1,303.52 points to 173,150.42. Internationally, Asian markets defied AI fears. Japan’s Nikkei 225 climbed 0.93% to 57,090.14, Australia’s S&P/ASX 200 added 0.5%, while China, Hong Kong, Singapore, Taiwan, and South Korea stayed closed for Lunar New Year. Wall Street’s cautious optimism carried overnight: the Dow Jones rose 0.07% to 49,533.19, the S&P 500 climbed 0.10% to 6,843.22, and the Nasdaq Composite gained 0.14% to 22,578.38, bouncing back from early losses. Pakistan stocks drop by over 6,400 points in single day