Karachi, January 6, 2026: The stock market extended its bullish momentum on Tuesday, with the benchmark index crossing the 185,000-point mark for the first time, as investors rotated from fixed-income instruments into equities amid optimism over upcoming bank results.
The Pakistan Stock Exchange’s (PSX) KSE-100 Index closed at 185,062.10 points, gaining 2,653.87 points, or 1.45%, from the previous close of 182,408.23.
During the session, the index hit a new all-time intraday high of 185,481.45 points, up 3,073.22 points (1.68%), while the day’s low was recorded at 181,182.07, reflecting a decline of 1,226.16 points (0.67%).
“Due to the continued decline in fixed-income instruments, sustained buying momentum is evident as investors rotate into equities,” said Huzaifa Riaz, Director at Mayari Securities (Pvt) Limited.
“Buying interest was mainly concentrated in banking stocks, driven by optimism surrounding year-end financial results,” he added.
In single-stock milestones, United Bank Limited (UBL) became the largest listed company by market capitalisation at Rs1.27 trillion, edging past Oil and Gas Development Company (OGDC) at Rs1.26 trillion, following a strong rally in banking shares.
On the public finance front, Pakistan’s central government debt declined by Rs345 billion (-0.44%) during July–November FY26, falling to Rs77.543 trillion from Rs77.888 trillion at the end of June, according to State Bank of Pakistan (SBP) data.
Domestic debt stood at Rs54.619 trillion, up 0.26% from June, 1.21% month-on-month, and 12% year-on-year, while external debt fell by Rs492 billion (2.1%) to Rs22.925 trillion during the same period.
Authorities attributed the improvement to continued fiscal consolidation efforts and the Rs2.42 trillion SBP profit transfer in FY25.
On Monday, the benchmark index had closed at 182,408.23 points, up 3,373.3 points (1.88%), after touching an intraday high of 183,964.37 and a low of 179,535.46.
