Pakistan’s Stock Market Is Up Over 47% in 2025

“Ik vari fer history made!” — the Pakistan Stock Exchange (PSX) just shattered another ceiling as the benchmark KSE-100 Index crossed 172,000 points for the first time ever. In 2025 alone, the index has delivered over 47% year-to-date returns, building on a blistering 60% gain in the previous 12 months. For perspective, silver is up 90% over a similar recent period, while GDX (the gold miners ETF) has roughly doubled that at around 130–180%.

Finance textbooks warn: “Past performance is no guarantee of future results.” But as Mark Twain observed, “History doesn’t repeat itself, but it often rhymes.” And right now, Pakistan’s stock market is rhyming louder than ever.

This isn’t just another bull run. It’s a multi-year resurrection story that has repeatedly placed the PSX among the world’s top-performing markets — often when global investors weren’t even looking.