PSX slips 721 points over mounting ME tensions

The Express Tribune reported that the KSE-100 index finished Monday at 176,975.68, a fall of 720.83 points or 0.41 per cent. Selling was concentrated in auto assemblers, cement, commercial banks, oil marketing firms and power producers. Investors turned cautious as oil prices rose nearly 3 per cent after the US struck an Iranian island and Tehran responded, in a conflict now in its sixth month.

Within minutes of the opening bell, the index was already down 570 points, and it ranged between 178,138.69 and 176,944.91 during the session. Trading volume rose to 937 million shares from 658 million the previous Friday, with the value traded reaching Rs39 billion. Of the 503 stocks traded, 302 declined, 169 advanced and 32 were unchanged, while foreign investors, per the National Clearing Company, sold Rs1.05 billion worth of shares.

Refineries were the standout performers, with National Refinery and Pakistan Refinery reaching upper circuits and Attock Refinery up 8.44 per cent. Indus Motor posted FY26 profit after tax of Rs25.5 billion, up 11 per cent, and declared a Q4 dividend of Rs47 per share. KTrade Securities' Ahmed Sheraz said September's direction may hinge on regional developments, crude prices and inflation expectations.