PSX rises 269 points as oil market steadies

According to The Express Tribune, the KSE-100 closed 0.16 per cent higher on Monday, adding 268.58 points to finish at 171,153.17. Buying emerged as crude prices eased and hopes grew for diplomatic progress in the US-Iran conflict, although the early rally lost some strength. Intra-day trading ranged between 170,902.76 and 171,732.62.

Market participants tracked how quickly Saudi Arabia restored oil shipments after Yemen's Houthis launched missile and drone attacks on Saturday. Pakistan's power demand climbed 5.1 per cent year-on-year in August to 14,943 megawatts, which is 1.4 per cent higher than the August average recorded over the past seven years, though it remained below the 16,176 MW peak of August 2021.

KTrade Securities put trading volume at 162 million shares for the session. The National Clearing Company reported that foreign investors sold Rs333.3 million worth of shares. JS Global noted that cement and fertiliser names were the main positive contributors, with refinery and oil and gas stocks also providing support.