PSX closes marginally higher at 166,564 after volatile Monday session
The KSE-100 index rose 154.81 points, or 0.09%, to close at 166,564.07 on Monday. The index had fallen earlier in the day before recovering.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- KSE-100 gained 154.81 points, or 0.09%, to settle at 166,564.07 on Monday.
- The index touched an intra-day low of 165,776.85 and a high of 166,989.76.
- Global oil prices fell more than 4%, according to The Express Tribune.
- All refineries hit their lower limits after a government pricing change.
The Pakistan Stock Exchange closed marginally higher on Monday after recovering from an earlier decline, The Express Tribune Business reported. The benchmark KSE-100 index rose 154.81 points, or 0.09%, to settle at 166,564.07.
The index opened cautiously. At 9:34 am it stood at 166,169.41, down 239.84 points or 0.14%. By 12:29 pm it had fallen to 165,776.85, a drop of 632.40 points or 0.38%. It later climbed to an intra-day high of 166,989.76 before settling in positive territory.
Daily Pakistan Urdu also described mixed, volatile trading that ended in positive territory. It reported that the index fell by more than 400 points to 165,939 at the opening of the first trading day of the week, and closed up 154 points at 166,564.
According to The Express Tribune, global oil prices fell more than 4% amid renewed hopes of diplomatic progress on the US-Israel war with Iran. Lower oil prices eased concerns over energy costs and pressure on Pakistan's import bill.
Arif Habib Limited said 41 shares rose while 58 fell. Mari Energies, Fauji Fertiliser and Engro Holdings contributed most to the index's gains, while Attock Refinery, OGDC and PSO were the biggest drags.
The Express Tribune reported that all refineries hit their lower limits after the government shifted the impact of higher petrol import costs onto local refineries. The ex-refinery motor spirit price rose Rs15.13 to Rs282.26 per litre.
A petroleum levy cut of Rs14.71 and an inland freight equalisation margin cut of Rs0.42 offset the rise. As a result, the ex-depot petrol price remained unchanged at Rs377.91 per litre.
Why it matters
Movements in the KSE-100 matter to local investors whose savings are tied to the market. Oil prices and petrol pricing changes also bear on Pakistan's import bill and on refinery shares.
