PSX Recovers 155 Points to Close Higher
PSX recovers 155 points on Monday, November 2, 2026, as the Pakistan Stock Exchange closed higher after a volatile session. The benchmark KSE-100 index gained 154.81 points, or 0.09 per cent, to settle at 166,564.07 points, reversing an earlier slide that had taken the market more than 630 points lower during the day.
The recovery came late in the session. Investors weighed hopes of diplomatic progress in the Middle East against selling pressure across key sectors, and the late buying proved enough to push the index back into positive territory by the close.
PSX recovers 155 points after a weak start
Trading opened on a cautious note. The index slipped to 166,169.41 points by 9:34am, down 239.84 points, or 0.14 per cent. Selling then deepened through the morning, and by 12:29pm the index had fallen to 165,776.85 points, down 632.40 points, or 0.38 per cent, from the previous close of 166,409.25 points.
The market later touched an intraday high of 166,989.76 points and an intraday low of 165,585.42 points before settling in positive territory.
| Session point | KSE-100 level | Change from previous close |
|---|---|---|
| Previous close | 166,409.25 | – |
| Morning low, 9:34am | 166,169.41 | -239.84 points |
| Midday low, 12:29pm | 165,776.85 | -632.40 points |
| Intraday high | 166,989.76 | – |
| Close | 166,564.07 | +154.81 points |
Oil prices and diplomacy hopes supported the close
The positive close came as global oil prices fell by more than 4 per cent on Monday. Traders took comfort from renewed hopes of diplomatic progress towards ending the US-Israeli war on Iran, which eased concern over energy costs and pressure on Pakistan’s import bill.
Oil prices fell after Iranian and Qatari officials held a third consecutive day of talks aimed at ending the conflict, raising hopes of fewer disruptions to Middle East energy supplies. The absence of any major military escalation over the weekend also supported sentiment in international markets.
Feature Pakistan has reported separately on how falling oil prices and diplomacy hopes moved markets on Monday, in oil prices fall on US-Iran diplomacy hopes.
Refinery shares fell as petrol costs shifted
Not every part of the market shared in the recovery. Refinery shares came under heavy pressure after the government shifted the impact of higher petrol import costs onto local refineries, rather than passing it on to consumers, under the October 31 pricing notification.
The ex-refinery price of petrol rose by Rs15.13 a litre to Rs282.26 a litre. That rise was fully offset by a Rs14.71 a litre cut in the petroleum levy collected through refineries and a Rs0.42 a litre lower inland freight equalisation margin, leaving the ex-depot price unchanged at Rs377.91 a litre.
Arif Habib Limited estimated the burden at Rs9.4 billion a month before tax, or Rs5.9 billion after tax, on the sector excluding PARCO, with local refineries accounting for 30 per cent of petrol supply. The measure applies for 30 days, and the brokerage assumed the impact for November only. Attock Refinery fell 10.0 per cent to its lower limit, while Oil and Gas Development Company lost 1.66 per cent and Pakistan State Oil fell 2.33 per cent.
On the other side, Mari Energies rose 3.15 per cent, Fauji Fertiliser gained 0.92 per cent and Engro Holdings added 1.57 per cent, contributing the most to the index gains.
Inflation still sits above the State Bank target
October inflation also weighed on sentiment. Consumer prices rose 9.6 per cent year on year in October, still above the State Bank of Pakistan’s 5 to 7 per cent target range, with energy costs high because of the Middle East conflict. Feature Pakistan reported the inflation reading in Pakistan’s October inflation eases to 9.6 per cent.
Trading volume fell to 443.4 million shares from 825.4 million on Friday, while the value of traded shares stood at Rs17.7 billion. In total, shares of 496 companies traded in the ready market. Of these, 137 closed higher, 319 fell and 40 remained unchanged.
What happens next
Arif Habib Limited flagged resistance at 167,500 to 168,000 as the key level to watch over coming sessions. A move above that band would confirm that Monday’s late recovery has legs. A failure there would leave the market inside the same volatile range that framed Monday’s trade, with oil prices and diplomacy headlines likely to set the tone.
Frequently asked questions
What is the KSE-100 index?
The KSE-100 is the benchmark index of the Pakistan Stock Exchange. It tracks 100 leading listed companies and serves as the main gauge of how the country’s stock market performs.
Why did the PSX recover on Monday?
The market recovered late in the session as falling global oil prices and hopes of diplomatic progress on the US-Israeli war on Iran eased concern over energy costs and Pakistan’s import bill.
Why did refinery shares fall?
Refinery shares fell after the government shifted higher petrol import costs onto local refineries under the October 31 pricing notification, rather than raising the price consumers pay at the pump.
What level should investors watch next?
Arif Habib Limited pointed to resistance at 167,500 to 168,000 as the key level to watch over coming sessions.
