PSX rises back above 170,000 as oil eases

The rebound trimmed the weekly loss to 2.75%, though the index was still down 3.65% in the month to date and 2.04% for calendar year 2026.On Friday, market breadth was constructive, with 69 stocks advancing and 30 declining.

Meezan Bank, Fauji Fertiliser and Lucky Cement contributed the most to the day's gains, while Habib Bank, Pakistan Oilfields and Bank AL Habib were the largest drags.Regular-market turnover reached 687.5 million shares, valuing at Rs33.7 billion, with Pakistan Refinery, National Refinery and Maple Leaf Cement among the most actively traded names, as per AHL.Geopolitics remained a key overlay.

A six-member Gulf bloc was considering talks with Iranian officials on the future of the Strait of Hormuz, while Houthi forces advanced towards Red Sea coastal areas near the Bab el-Mandeb Strait as fighting with Saudi-backed Yemeni forces intensified.Among corporate news, Kapco reported 4QFY26 earnings per share of Rs1.14, up 7.7 times year-on-year, as gross profit recovered after earlier power-purchase-agreement disruptions.

An International Monetary Fund (IMF) staff mission is expected to arrive on September 23 for the fourth review of the Extended Fund Facility and third review of the Resilience and Sustainability Facility."Technically, Friday's close held July lows near 170,000; the coming week will test whether a durable bottom is in place or only a counter-trend rally is underway," added AHL.Topline Securities' market review stated that the KSE-100 index opened on….

The top positive contribution to the index came from Meezan Bank, Fauji Fertiliser, Lucky Cement, Pakistan Petroleum, OGDC and Engro Fertilisers, as they cumulatively contributed 1,032 points.Traded value-wise, Maple Leaf Cement (Rs1.65 billion), HBL (Rs1.47 billion), Cnergyico (Rs1.31 billion), Attock Refinery (Rs1.29 billion) and PPL (Rs1.1 billion) dominated the activity, said Topline.Overall trading volumes were recorded at 687.47 million shares compared with the previous session's tally of 628.67 million.

The value of shares traded during the day was Rs33.70 billion.

In the ready market, shares of 500 companies were traded.

Of these, 248 stocks closed higher, 210 fell, and 42 remained unchanged.Cnergyico Pk was the volume leader with trading in 104.27 million shares, gaining Rs0.56 to close at Rs12.93.

It was followed by Pakistan Refinery with 66.01 million shares, gaining Rs4.70 to close at Rs85.63, and Media Times with 35.45 million shares, gaining Rs0.22 to close at Rs6.92.

Foreign investors sold shares worth Rs1.8 billion, the National Clearing Company reported.