Overview
- The KSE-100 closed marginally higher at 166,564.07, a gain of 154.81 points, after an intraday swing that saw the index fall more than 632 points before a late recovery.
- Global oil prices fell by more than 4 percent on renewed hopes of diplomatic progress in the Middle East, a move that helped ease investor concern about Pakistan’s import bill and supported the late rally.
- The government shifted the impact of higher petrol import costs onto local refineries, pushing all refinery stocks to their lower-circuit limits and raising the ex-refinery motor spirit price by Rs15.13 to Rs282.26 per litre.
- Despite the ex-refinery increase, reductions in the petroleum levy (down Rs14.71) and IFEM (down Rs0.42) kept the ex-depot petrol price unchanged at Rs377.91 per litre, leaving consumers’ pump prices stable.
- Trading liquidity and breadth weakened sharply as ready-market volume fell to 443.432 million shares and traded value to Rs17.731 billion while futures turnover dropped to 119.359 million shares, a decline that could amplify short-term volatility and keep pressure on refinery shares.