Pakistan’s benchmark KSE-100 Index surged 3,826.85 points, or 2.46%, to an intraday high of 159,604.06 on Thursday, as institutional investors returned amid easing fuel-supply concerns and rising global oil prices.
The market was supported by Saudi Arabia’s commitment to facilitate crude shipments to Pakistan via the Red Sea port of Yanbu, following Iran’s closure of the Strait of Hormuz, which threatens a major portion of global energy flows. Federal Minister for Petroleum Ali Pervaiz Malik confirmed that Saudi authorities assured priority oil shipments for Pakistan, with one vessel already scheduled for dispatch.
Global crude prices climbed sharply amid regional tensions. Brent crude rose 3.26% to $83.99 per barrel, and US West Texas Intermediate (WTI) gained 3.70% to $77.42 per barrel, reflecting concerns over supply disruptions from Iraq, Qatar, and other Gulf producers.
“Stocks staged a recovery at PSX amid institutional activity on easing fuel supply fears,” said Ahsan Mehanti, CEO of Arif Habib Commodities. He added that expectations of the next IMF tranche and positive economic indicators further bolstered investor sentiment.
The previous session had seen the KSE-100 Index fall 0.86% to 155,777.21 points, as the market reacted to regional uncertainty and rising oil prices.