KARACHI: The Pakistan Stock Exchange (PSX) on Monday extended the weekend’s sluggishness as unsettled geopolitical concerns revived fears of securing a lasting peace in the Middle East, which spiked crude oil prices.
A deal on the Strait of Hormuz between the US and Iran remained a distant possibility as disagreement persisted, triggering volatility and forcing the benchmark KSE-100 index to close in the red for the second consecutive session.
Topline Securities Ltd said the PSX opened on a positive note, with the index surging to an intraday high of 917 points at 182,347.51 amid strong early buying interest. However, the initial euphoria proved short-lived as profit-taking and selling pressure emerged, dragging the index to an intraday low of 609 points at 180,820.23. It eventually settled at 181,310.28, down 119.74 points or 0.07 per cent.
The refinery sector remained the talk of the town, with strong buying interest across the sector. Attock Refinery Ltd, Pakistan Refinery Ltd, National Refinery Ltd, and Cnergyico PK all closed in positive territory, significantly outperforming the broader market.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX recorded a range-bound session, with the index closing on a flat note.
On the corporate front, Lucky Cement reported FY26 earnings per share (EPS) of Rs60.78, up 16pc year on year, and a dividend per share (DPS) of Rs5, supported by strong local cement growth.
On the macro front, remittances rose 13pc year-on-year to $3.6bn in July, compared with $3.2bn in July 2025, and increased 5pc month-on-month.
On the index contribution front, Pakistan Petroleum, Attock Refinery, Meezan Bank, Oil and Gas Development Company, and Engro Holdings collectively added 574 points to the benchmark index. Conversely, Hub Power, Fauji Fertiliser, United Bank, Mari Energies, and Lucky Cement collectively erased 791 points amid selective profit-taking.
Investor participation improved as trading volume rose 28.10pc to 917.26 million shares and total turnover surged 31.38pc to Rs44.8bn.
Analysts expect strong corporate earnings, robust remittances, and improving macro fundamentals to keep the broader sentiment constructive. Sustained foreign flows and positive corporate results could provide a catalyst for the index to resume its upward trajectory.
Published in Dawn, August 11th, 2026
