Index tumbles 2,541 points on Mideast tensions

The Pakistan Stock Exchange extended its losses on Monday, with the benchmark KSE-100 index falling 2,541.20 points, or 1.49 per cent, to close at 167,970.66, according to Dawn. The slide followed a worsening conflict in the Middle East, higher crude prices and tighter supplies, which together raised worries about inflation and the economic outlook. Topline Securities linked the selling to Oman's announcement that a planned meeting between Iran and Gulf states on the Strait of Hormuz had been put off.

Oil prices climbed after the postponement, which deepened worries about supply, the import bill, price pressures and the country's external position. Investors were also waiting on the monetary policy decision from the State Bank of Pakistan, due later that evening; most market participants expected the policy rate to remain at 11.50pc. Cnergyico PK led the volume chart with 96.9m shares, while trading volume fell 17.01pc to 570.4 million shares and turnover dropped 26.79pc to Rs24.6 billion.

Pakistan Petroleum posted FY26 earnings of Rs36.21 per share, a 7pc increase over the Rs33.82 recorded in FY25, and declared Rs6 per share as a final payout, bringing the total for the year to Rs12 per share. Among the heaviest drags were MCB Bank, Systems Ltd, Habib Bank, Bank Al-Habib, United Bank, Lucky Cement and Oil and Gas Development Company, which together erased 1,331 points.