Policy rate status quo triggers PSX rebound

The Pakistan Stock Exchange recovered modestly on Tuesday as the KSE-100 gained 1,421.67 points, or 0.85%, to end at 169,392.33. Buyers returned across several sectors after the State Bank of Pakistan left its policy rate unchanged at 11.5% on Monday, which eased worries about an unforeseen monetary policy change. The Express Tribune reported that the index ranged between 169,189 and 169,988 during the session.

Crude prices climbed nearly 2% on Tuesday after attacks on Saudi energy facilities knocked out the East-West pipeline in the kingdom, keeping supply concerns alive. The index still recovered part of its recent losses despite the unresolved US-Iran conflict and the threat to regional oil flows. Ahmed Sheraz of KASB KTrade described the session as upbeat, with bank, cement, drug and oil and gas shares lending firm support.

UBL, Fauji Fertiliser, Lucky Cement, Bank Alfalah, Pakistan Oilfields, MCB and Systems Ltd were among the major gainers, together adding 1,024 points. Turnover eased to 372 million shares from 570.5 million the day before, while traded value reached Rs17.2 billion. Mughal Iron & Steel posted a 2.6-fold jump in profit to Rs2,487 million for fiscal 2026, earning Rs7.41 per share, and declared a Rs2 dividend after two years without one. Cnergyico led volumes with 56.2 million shares and closed unchanged at Rs12.81, while foreign investors bought Rs143 million worth of shares.