PSX Gains 269 Points as Oil Prices Ease, KSE-100 Tops 171,000
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange (PSX) ended Monday’s session modestly higher, with the benchmark KSE-100 Index gaining 268.58 points, or 0.16%, to close at 171,153.17, as easing international oil prices and recovering Saudi crude shipments provided some support to investor sentiment.
Official PSX data confirms the benchmark’s closing level and gain. The index touched an intraday high of 171,732.62 and a low of 170,902.75, compared with the previous close of 170,884.58. KSE-100 volume stood at about 162.5 million shares.
The positive close came as crude prices declined amid hopes for diplomatic progress over the Middle East conflict and signs of a partial recovery in Saudi oil shipments. Brent crude fell to a 12-day low during Monday’s international session as markets monitored developments surrounding this week’s United Nations meetings.
Despite the improvement, analysts remained cautious about continuing geopolitical risks, particularly developments affecting the Strait of Hormuz and regional energy flows. KTrade Securities said sentiment was mildly positive but noted that the situation around Hormuz remained a key market risk.
Several heavyweight stocks supported the benchmark. Lucky Cement, Attock Refinery, Fauji Fertiliser, Mari Energies and Engro Fertilisers collectively contributed 255 points, while Pakistan Services, Meezan Bank, Systems Limited, United Bank and Oil & Gas Development Company pulled the index down by a combined 172 points, according to market commentary cited by the Tribune.
Activity in the broader ready market increased, with 692.9 million shares traded, compared with 576.3 million shares in the previous session. Of 494 companies traded, 238 advanced, 213 declined and 43 remained unchanged.
Tasdeeq Information led the volume chart with 119.6 million shares traded, while foreign investors were net sellers of shares worth Rs333.3 million, according to National Clearing Company data cited in the report.
Analysts said lower oil prices could provide support to both equities and Pakistan’s external position, but elevated energy costs, geopolitical uncertainty and the upcoming IMF review remain important factors for market sentiment.
