PSX Weekly Recap: KSE-100 Rallies 12,000 Points – The Week That Changed Everything
Published: Saturday, April 18, 2026.
You know those weeks that you remember for years? The ones where everything changes? This was one of them.
Seven days ago, the PSX was in freefall. Investors were panicking. Oil was above $104. The US-Iran talks had failed. And the KSE-100 had crashed over 6,600 points in a single day.
Fast forward to Friday. The index touched 173,444 – a level no one thought possible just a week ago.
Let me take you through this historic week, day by day. What happened. Why it happened. And what it means for you.
For a detailed look at Friday’s rally, read our [PSX closing market review for April 17 here] .
Quick Look – The Week in Numbers
| Metric | Value |
|---|---|
| Week Starting (April 13) | 160,591 points |
| Week Ending (April 17) | ~172,365 points |
| Total Weekly Gain | ▲ +11,774 points (+7.33%) |
| Highest Level | 173,444.89 (Friday) |
| Lowest Level | 160,159 (Monday intraday) |
| Total Weekly Volume | ~2.5 billion shares (KSE-100) |
| Market Breadth (Friday) | 360 advances / 93 declines |
| Foreign Buying (Thursday only) | Rs742.4 million |
Sources: Mettis Global, The Express Tribune, Pakistan Today, Daily Times
The Big Picture – A 12,000 Point Swing
Let me give you some perspective.
The KSE-100 started the week at 160,591. It dropped as low as 160,159 on Monday – a loss of over 7,000 points from the previous Friday.
Then something changed.
By Friday, the index had climbed to 173,444. That’s a recovery of over 13,000 points from the low. The net gain for the week? Nearly 12,000 points. Up over 7 percent.
I’ve been watching the PSX for years. I’ve seen rallies. I’ve seen crashes. But a 12,000-point recovery in five days? That’s rare. That’s special.
| Day | Closing | Change | What Happened |
|---|---|---|---|
| Monday (April 13) | 160,591 | -6,600 points | Crash. US-Iran talks failed. Oil at $104. |
| Tuesday (April 14) | 164,600 | +4,009 points | Relief rally. Qatar and Switzerland offer to host new talks. |
| Wednesday (April 15) | 168,519 | +3,919 points | Saudi $3 billion announced. UBL, FFC, LUCK lead. |
| Thursday (April 16) | 169,911 | +1,392 points | Saudi $2 billion received. Banking deposits hit Rs37.5T. |
| Friday (April 17) | 172,365 | +2,453 points | Trump hints at Iran deal. KSE-100 hits 173,444. |
Sources: Mettis Global, The Express Tribune, Pakistan Today
For real-time PSX data, visit the PSX official website .
Monday, April 13 – The Crash
Let me be straight with you. Monday was brutal.
The market opened gap down. Within minutes, the KSE-100 had plunged over 5,500 points. It touched an intraday low of 160,159 – a loss of over 7,000 points from Friday’s close.
What happened?
Three things. All bad.
First, the US-Iran talks in Islamabad failed completely. JD Vance flew in, sat for 21 hours, and left with nothing. Iran rejected what the US called a “final and best offer.”
Second, President Trump announced a naval blockade of Iranian ports. The US Navy began stopping every ship going in or out of Iran. The Strait of Hormuz – the most important oil route in the world – was now a war zone.
Third, oil prices exploded. Brent crude surged 8.6 percent to over $104 per barrel.
The numbers were ugly:
| Metric | Value |
|---|---|
| Close | 160,591 points |
| Points Lost | -6,600 points (-3.95%) |
| Intraday Low | 160,159 |
| Intraday High | 163,429 |
| Market Breadth | 66 advances / 377 declines |
Source: The Express Tribune, Business Recorder
93 out of 100 companies declined. Only 66 rose out of 483 traded. That’s an 85 percent decline rate. I’ve rarely seen such broad-based selling.
For a detailed breakdown of Monday’s crash, read our [PSX closing summary for April 13 here] .
Tuesday, April 14 – The Relief Rally
PSX opened green and never looked back. By the closing bell, the KSE-100 had gained over 4,000 points.
What changed?
Two things happened overnight.
First, Qatar and Switzerland offered to host the next round of US-Iran talks. The door was still open. Investors stopped panicking and started hoping again.
Second, oil prices dropped below $100. From $104 to around $99. That’s a massive relief for an oil-importing country like Pakistan.
| Metric | Value |
|---|---|
| Close | ~164,600 points |
| Points Gained | +4,009 points (+2.5%) |
| Intraday High | 165,800 |
| Intraday Low | 163,400 |
| Market Breadth | 93 advances / 6 declines |
Source: Mettis Global
93 out of 100 companies went up. That’s a complete reversal from Monday’s 93 percent decline rate.
For a full recap of Tuesday’s rally, read our [PSX closing summary for April 14 here] .
Wednesday, April 15 – The Breakout
Wednesday was the day the market crossed 170,000 for the first time since the crash.
The KSE-100 gained another 3,900 points, closing at 168,519. The index touched an intraday high of 170,640 – above the psychological 170,000 level.
Three things drove this rally.
First, Saudi Arabia committed an additional $3 billion in financial support to Pakistan. They also extended their existing $5 billion deposit for another three years.
Second, Fitch Ratings reaffirmed Pakistan’s credit rating. This signaled to foreign investors that Pakistan is on the right track.
Third, oil stayed below $100.
| Metric | Value |
|---|---|
| Close | 168,519 points |
| Points Gained | +3,919 points (+2.38%) |
| Intraday High | 170,640 |
| Market Breadth | 92 advances / 7 declines |
Source: Mettis Global
UBL, FFC, and LUCK alone added over 1,200 points to the index. Banking and fertilizer led the charge.
For a detailed look at Wednesday’s breakout, read our [PSX closing summary for April 15 here] .
Thursday, April 16 – The Consolidation
Thursday was a consolidation day. Not exciting. But not bad either.
The KSE-100 gained 1,392 points and closed at 169,911 – just 88 points away from 170,000.
Two major developments happened after the market closed.
First, the State Bank of Pakistan confirmed receipt of $2 billion from Saudi Arabia. This was the first tranche of the $3 billion package. The remaining $1 billion is expected in the coming days.
Second, banking sector deposits surged to Rs37.51 trillion – an 18.1 percent jump from last year. This is a massive number. It shows the banking system is healthy.
| Metric | Value |
|---|---|
| Close | 169,911 points |
| Points Gained | +1,392 points (+0.83%) |
| Intraday High | 170,899 |
| Market Breadth | 66 advances / 32 declines |
Source: Mettis Global
UBL added over 320 points alone. OGDC added 234 points. HUBC added 162 points.
For a complete recap of Thursday’s session, read our [PSX closing summary for April 16 here] .
Friday, April 17 – The Explosion
Then came Friday. And wow.
PSX didn’t just open higher. It exploded.
The KSE-100 climbed to an intraday high of 173,444.89 – a gain of over 3,500 points from Thursday’s close. By the closing bell, the index settled at approximately 172,365 points, up over 2,450 points for the session.
What drove this?
One man. One statement.
President Donald Trump said the next meeting between the US and Iran may take place over the weekend – right when the current ceasefire is due to expire.
The market is now pricing in a genuine possibility that this war could end soon. Not pause. End.
| Metric | Value |
|---|---|
| Close | ~172,365 points |
| Points Gained | +2,453 points (+1.42%) |
| Intraday High | 173,444.89 |
| Intraday Low | 170,758.25 |
| Trading Volume | 330+ million shares |
| Market Breadth | 360 advances / 93 declines |
Sources: The Express Tribune, Pakistan Today
360 stocks advanced, only 93 declined. That’s a 4-to-1 advance-decline ratio. Broad-based buying at its finest.
For a full recap of Friday’s historic rally, read our [PSX closing market review for April 17 here] .
What Changed This Week? The Five Catalysts
Let me summarize what turned this week around.
1. US-Iran Peace Deal Hopes
This is the biggest story. Trump said the next meeting may happen this weekend when the current ceasefire expires. A Lebanon-Israel ceasefire also went into effect. If both hold, the entire region could stabilize.
Ahfaz Mustafa, CEO of Ismail Iqbal Securities, put it perfectly: “The expectation of a possible deal in the Middle East has created a sense of urgency among investors. Many are entering positions early, anticipating positive developments in the coming days” .
2. Saudi Arabia’s Financial Support
The Kingdom committed an additional $3 billion to Pakistan. The first $2 billion has already been received. The existing $5 billion deposit has been extended for another three years.
What does this mean for the market? Foreign reserves get a boost. External financing pressure eases. And investors see that Pakistan has friends who will step up when needed.
3. Current Account Surplus
Pakistan recorded a $1.07 billion current account surplus in March – up from just $231 million in February. Lower import bills and strong remittance inflows drove this improvement.
When the country earns more foreign currency than it spends, the rupee strengthens. When the rupee strengthens, corporate profits look better.
4. Banking Sector Strength
Banking sector deposits surged to Rs37.51 trillion – an 18.1 percent jump from last year. Advances grew 12.1 percent to Rs14.53 trillion. Total assets climbed 14.1 percent to Rs50.78 trillion.
This is not a weak banking system. This is a strong one.
5. Foreign Investment Returns
Foreign investors bought shares worth Rs742.4 million on Thursday alone. After weeks of foreign selling, this is a significant reversal.
When foreigners start buying, the market takes notice.
For live updates on Pakistan’s economic indicators, check the State Bank of Pakistan website .
Which Stocks Won the Week?
Let me give you the names that actually moved the market this week.
Top Performers of the Week
| Stock | Sector | Performance |
|---|---|---|
| United Bank (UBL) | Banking | ▲ +2.87% (Friday only) |
| OGDC | Oil & Gas | ▲ +3.48% (Friday only) |
| Hub Power (HUBC) | Power | ▲ +2.2% (Friday only) |
| LOTCHEM | Chemical | ▲ +10.00% (Thursday) |
| GAL | Automobile | ▲ +6.64% (Thursday) |
| SSGC | Gas Utility | ▲ +10.02% (Wednesday) |
Index-Heavy Stocks That Drove the Week (Points Contribution)
| Stock | Sector | Points Added |
|---|---|---|
| UBL | Banking | +446 (Wed) +320 (Thu) |
| FFC | Fertilizer | +292 (Wed) |
| HUBC | Power | +279 (Wed) +162 (Thu) |
| OGDC | Oil & Gas | +234 (Thu) |
| Meezan Bank | Islamic Banking | +123 (Wed) |
Most Active Stocks of the Week (Volume Leaders)
| Stock | Volume (One Day) |
|---|---|
| K-Electric (KEL) | 124.9M (Thu) |
| WorldCall (WTL) | 76.9M (Thu) |
| Bank of Punjab (BOP) | 76.1M (Thu) |
| Unity Foods | 70.5M (Fri) |
| Hascol Petroleum | 46.2M (Fri) |
Sources: Mettis Global, Daily Times
For a complete list of weekly top gainers and losers, visit Mettis Global .
What the Experts Said This Week
Let me share what analysts said during this historic week.
Ahfaz Mustafa, CEO of Ismail Iqbal Securities (Friday):
“The expectation of a possible deal in the Middle East has created a sense of urgency among investors. Many are entering positions early, anticipating positive developments in the coming days” .
Mohammed Awais Ashraf, Director Research at AKD Securities (Wednesday):
*”Anticipation of the resumption of US–Iran talks, along with Saudi Arabia’s approval of $3 billion for Pakistan and the three-year extension of its existing $5 billion deposit, has boosted investor sentiment.”*
Ahsan Mehanti of Arif Habib Limited (Wednesday):
“Equities rebounded sharply as investors responded to indications of a possible second round of US-Iran peace talks, along with remarks suggesting the conflict could soon de-escalate.”
Mettis Global analysts (Thursday):
*”Stocks at the Pakistan Stock Exchange continued their upward trajectory on Thursday, with the benchmark KSE-100 Index posting further gains as improved liquidity outlook and foreign inflows boosted investor confidence.”*
For more expert analysis, visit Topline Securities and Business Recorder .
What to Watch Next Week
Now that this historic week is behind us, here’s what I’m watching for the week ahead.
1. US-Iran Talks – The Main Event
The current ceasefire expires this weekend. Trump said the next meeting may take place over the weekend. If a deal is announced – or even if progress is confirmed – expect another rally on Monday.
If talks fail or are delayed, expect some profit-taking.
2. Oil Prices
Oil is currently below $100 a barrel. This is critical for Pakistan’s economy. If oil stays below $100, the rally has room to run. If it spikes back above $104, expect pressure.
Track live oil prices on Reuters .
3. The Remaining $1 Billion from Saudi Arabia
The first $2 billion has been received. The remaining $1 billion is expected in the coming days. Any confirmation will be positive for sentiment.
4. Corporate Earnings Season
Banks and other companies will announce quarterly results in the coming days. Strong earnings could fuel further gains. Weak earnings could trigger selective selling.
5. Foreign Investment Flows
Foreign investors bought shares on Thursday. If this continues, the rally has legs. If they turn sellers again, expect a pullback.
For US economic updates, check the US Bureau of Labor Statistics .
Key Levels to Watch Next Week
Here are the numbers I’m actually looking at.
| Level | Value | What It Means |
|---|---|---|
| Immediate Support | 170,750 | Friday’s low. If we hold this, good. |
| Secondary Support | 168,200 | Thursday’s low. If we break this, bad. |
| Immediate Resistance | 173,444 | Friday’s high. Need to break this for more upside. |
| Secondary Resistance | 175,000 | Next psychological level. |
| Major Resistance | 180,000 | Long-term target. |
For real-time charts, check TradingView .
The Bottom Line – What a Week
This was a week that will be remembered.
The KSE-100 gained nearly 12,000 points (+7.33%)
The index recovered over 13,000 points from Monday’s intraday low
Saudi Arabia committed $3 billion – $2 billion already received
The current account recorded a $1.07 billion surplus
Banking sector deposits hit Rs37.5 trillion
Trump hinted at a possible Iran deal this weekend
But here’s my honest advice.
Don’t get carried away by one week’s rally. The market is still sensitive to headlines. Oil could spike. Talks could fail. Investors could take profits.
What I’m doing:
I’m holding my positions. The trend is up.
I’m watching for weekend news on the Iran deal.
I’m not chasing at these levels.
What you should do:
Watch the 170,750 support level
Watch for news from US-Iran talks
Watch oil prices
Don’t make emotional decisions
The market will give you another opportunity. It always does.
This week was historic. But next week could be even bigger if that peace deal actually happens.
Let’s see what the weekend brings.
*Data based on PSX closing figures from April 13-17, 2026. Sources: Mettis Global, The Express Tribune, Pakistan Today, Daily Times, Business Recorder, GTV News, Dunya News.
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