The Pakistan Stock Exchange (PSX) extended its bullish run on Thursday, with the benchmark KSE-100 Index surging over 3,365 points, or around 2%, to close at 175,380, reclaiming the 175,000 psychological barrier for the first time since September 1, as a sharp decline in international oil prices improved investor sentiment and triggered broad-based buying. The market opened on a positive note, buoyed by a sharp correction in international oil prices following the Democrats' sweeping gains in the US midterm elections. WTI crude declined below USD 87/bbl, while Brent fell to USD 96/bbl from the previous session's USD 102/bbl, marking a decline of over 8%, said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. On the geopolitical front, sweeping Democratic gains in the elections fuelled optimism over a potential de-escalation in the Middle East conflict, easing concerns over further geopolitical escalation and supporting a broader recovery in global risk appetite. From the index contribution perspective, UBL, LUCK, MEBL, SYS, ENGROH, BAHL, HBL, HUBC, OGDC and PPL were the major contributors to today's rally, collectively adding approximately 1,981 points to the benchmark index. Market activity remained robust, with trading volume reaching 997 million shares and total traded value amounting to Rs46 billion. CNERGY led the volume chart with 74 million shares traded. Going forward, the market is likely to maintain its bullish momentum amid easing oil prices and improved global risk appetite. However, profit-taking may emerge at higher levels, keeping investors selective and cautious.