{
  "id": 4773985,
  "title": "Equities lose 721 points on oil, inflation spike",
  "url": "https://urgent.news/2026/09/01/equities-lose-721-points-on-oil-inflation-spike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T02:08:10.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2026514/equities-lose-721-points-on-oil-inflation-spike"
  },
  "original_language": "en",
  "account": "The Pakistan Stock Exchange (PSX) experienced a decline of 721 points on Monday, following a slight recovery at the weekend, due to escalating tensions in the Middle East and a subsequent rise in oil prices. The KSE-100 index closed at 176,975.68, marking a drop of 720.83 points, or 0.41 percent, amid heightened concerns over US-Iranian relations. Brent crude oil prices surpassed $90 per barrel, causing apprehension about potential disruptions to oil supplies through the Strait of Hormuz. Inflationary pressures also mounted, primarily due to elevated transportation expenses and a significant hike in food prices, indicating the bank would likely maintain its current monetary policy, keeping interest rates high and potentially stifling economic growth in the short term.\n\nKey contributors to the index's decline included Attock Refinery, Oil and Gas Development Company, Fauji Fertiliser, Meezan Bank, and Cnergyico PK, which together added 408 points to the index. Conversely, United Bank, Systems Ltd, Habib Bank, Lucky Cement, and Pakistan Petroleum collectively dragged it down by 755 points. Analysts noted that the PSX remained relatively stable, oscillating within a range. However, the sector of refineries witnessed substantial buying activity ahead of anticipated agreements for refinery upgrades in the near future. As a result, National Refinery and Pakistan Refinery reached their maximum circuit levels, while Attock Refinery and Cnergyico PK surged by 8.44 percent and 7.31 percent, respectively.\n\nOn the corporate side, Indus Motor reported a profit after tax (PAT) of Rs25.5 billion and earnings per share (EPS) of Rs324.50 for FY26, marking an 11 percent increase year-on-year. Despite this, the company's PAT for 4QFY26 declined by 5 percent year-on-year to Rs6.1 billion. The firm announced a dividend of Rs47 per share, bringing its cumulative payout for FY26 to a record high of Rs195 per share. The surge in investor activity in a bearish market appears to be a result of panic selling, with trading volume increasing by 42.37 percent to 931.7 million shares and turnover value rising by 24.41 percent to Rs39.13 billion. Cnergyico PK led the trading volume chart with 293 million shares. Analysts anticipate that geopolitical developments and oil prices will continue to be pivotal factors influencing market trends.",
  "summary": "KARACHI: After a mild recovery in the weekend session, the Pakistan Stock Exchange (PSX) slipped again on Monday as rising tensions in the Middle East and the subsequent surge in oil prices rekindled investor fears about the economic outlook. Topline Securities Ltd said the benchmark KSE-100 index remained under pressure, closing at 176,975.68, down 720.83 points, or 0.41 per cent, amid renewed…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}