Pakistan's benchmark KSE-100 index closed higher on Wednesday, 28 October 2026, gaining 1,269.55 points, or 0.77 per cent, to finish at 165,736.75. It traded in a range of 1,744.51 points, reaching a high of 166,100.33 and a low of 164,355.82, according to Mettis Global's closing report. Of the 100 index companies, 63 closed up, 34 closed down and three were unchanged, while the broader All-Share Index gained 628.92 points to 100,358.83.

Banks and fertiliser lead the advance

Commercial banks and fertiliser companies provided the strongest support, contributing 536.03 and 443.54 index points respectively. Among individual contributors, Fauji Fertilizer Company added 338.39 points and National Bank of Pakistan added 185.21 points. The top percentage gainers were Ghandhara Nissan, up 10.00 per cent, Tariq Glass Industries, up 7.03 per cent, and National Bank of Pakistan, up 6.58 per cent.

What to watch next

The advance came a day after the State Bank of Pakistan raised its policy rate to 12 per cent, a move also followed by gains on Tuesday. Market commentary noted that investors appeared to look past the rate rise, with strong company results helping sentiment, but that is commentary, not a proven cause. The wider market traded 578.12 million shares worth Rs26.20 billion across 496 companies, and a substantial minority of shares still fell.

On the downside, investment banks and securities companies dragged the index lower by 105.49 points, while technology shares fell back by 49.01 points. The largest percentage fallers included Nishat Power, down 4.75 per cent, and Nishat Chunian Power, down 4.64 per cent. The next signals will be whether the advance holds above 165,000 and whether banking and fertiliser strength continues. Share prices can fall as well as rise, and one day's gain does not by itself establish a trend.

Sources: Mettis Global and PSX Terminal.