PSX gains 269 points as oil prices ease

Stocks in Karachi opened the week with a modest gain on Monday as easing crude prices and expectations of diplomatic engagement between the United States and Iran encouraged buying, according to the Express Tribune. The benchmark KSE-100 index closed up 268.58 points, or 0.16 percent, at 171,153.17. The index traded between an intraday high of 171,732.62 and a low of 170,902.76.

Arif Habib Limited said the positive sentiment was helped by a fall in crude prices as traders watched Saudi Arabia's oil shipment recovery following missile and drone attacks by Yemen's Houthis on Saturday. The brokerage's Ali Najib wrote that investor sentiment remained mixed; additional Saudi supply eased concerns, but renewed tensions involving Saudi Arabia and Iran-backed Houthi forces kept buyers cautious. He said the upcoming IMF review, elevated energy prices and external-sector risks would continue to shape market direction.

KTrade Securities also reported the index closed up 269 points, with 162 million shares traded. It noted Brent crude slipped towards $101 a barrel on hopes for easing Red Sea tensions after US intervention, while a stalemate persisted at the Strait of Hormuz. KTrade expected the market to remain cautiously positive with volatility, adding that the upcoming UN General Assembly session could provide a platform for diplomatic engagement.

JS Global analyst Mubashir Anis Naviwala said buying interest was observed at the PSX and the index gained 269 points at close, with cement and fertiliser stocks among key positive contributors and refinery and oil and gas stocks also supporting.

Lucky Cement, Attock Refinery, Fauji Fertiliser, Mari Energies and Engro Fertilisers added 255 points, while Pakistan Services, Meezan Bank, Systems Ltd, United Bank and Oil and Gas Development Company dragged the index down by 172 points.

Separately, Pakistan Today reported that oil prices rose as markets awaited potential US-Iran talks, while the Express Tribune said international oil prices slipped to their lowest level in over a week amid hopes for diplomatic progress on the Middle East conflict.

In the ready market, trading volumes increased to 692.9 million shares from Friday's 576.3 million. Of 494 traded companies, 238 closed higher, 213 fell and 43 were unchanged. Tasdeeq Information led volumes with 119.6 million shares, rising Rs0.93 to close at Rs5. Foreign investors sold shares worth Rs333.3 million, according to the National Clearing Company.

AHL also reported that Pakistan's power demand rose 5.1 percent year-on-year in August 2026 to 14,943 megawatts, 1.4 percent above the seven-year August average.