Monday, May 04 2026

Positive momentum at bourse, KSE-100 up 2% in early trade
The Pakistan Stock Exchange (PSX) kicked off the week on a positive note, with the benchmark KSE-100 Index gaining nearly 3,300 points during the opening minutes of trading on Monday. At 9:29am, the benchmark index was hovering at 166,269.73, up by 3,275.56 points or 2.01%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PPL, POL, HBL, MCB, NBP and UBL, traded in the green. During the previous week, Pakistan’s equity market endured sustained pressure as persistent geopolitical uncertainty and tightening financial conditions dampened investor sentiment. The benchmark KSE-100 Index declined by 4.5%, shedding 7,677.87 points on a week-on-week basis to close at 162,994.17 points.
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Stocks edge up in Asia, oil flat amid Middle East uncertainty
Shares edged higher while oil prices flatlined in Asia on Monday, as ​investors drew comfort from signs of patchy progress in settling the Middle East conflict at the start of a week packed with ‌earnings and key economic data. President Donald Trump said the United States would begin an effort to free up ships stranded in the Strait of Hormuz on Monday morning, but gave no details of the plan. A statement from Central Command said support would include guided-missile destroyers, over 100 land and sea-based aircraft and 15,000 service members. Iran earlier said that the US had responded to its 14-point ​proposal via Pakistan and that it was reviewing the response, though Trump said it was unlikely to be acceptable. Brent crude futures were flat at $108.30 ​per barrel, having recovered from an initial drop of more than 2%, while US crude was steady at $102.01.
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Wafi Energy Pakistan delivers continued growth in Q1 2026
Wafi Energy Pakistan Limited (WEPL) reported a profit after tax of Rs2.16 billion, compared with Rs873 million in first quarter of 2026, a growth of 148 percent. The performance reflects steady operations and continued investment through a period of considerable global energy market volatility. The quarter also brought external recognition across two distinct areas of the company’s work. Wafi Energy won the Circular Economy Award at the 15th International CSR Awards for its eco-friendly Shell fuel station in Rawalpindi, which is constructed using recycled plastic. The company received an HR Metrics DEI Survey 2026 award to recognize leading representation of women at the managerial level. Wafi Energy continued to expand its retail footprint, adding 18 new Shell retail sites, 6 new Shell Select convenience stores and upgrading 6 Shell stations.
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UAE exits Arab oil exporter group OAPEC
The United Arab Emirates has left the Organization of Arab Petroleum Exporting Countries (OAPEC), an alliance that does not set production policies for its members, a statement from the intergovernmental organisation showed on Sunday. The statement follows UAE’s surprise announcement on April 28 of its departure from the OPEC and OPEC+ producer groups, to prioritise boosting its own output. OAPEC was formed in 1968 with the aim of boosting cooperation among Arab oil exporters.
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Gold dips as inflation concerns linger; markets watch US-Iran talks
Gold prices nudged lower on Monday, weighed down by inflation worries that clouded the U.S. monetary policy outlook, while markets awaited developments in U.S.-Iran peace negotiations. Fundamentals Spot ​gold was down 0.3% at $4,599.45 per ounce, as of 0114 GMT. US ‌gold futures for June delivery fell 0.7% to $4,611.40. US President Donald Trump said that Washington would start an effort on Monday morning to free ships stranded in the Strait of Hormuz as a “humanitarian ​gesture” to aid, opens new tab neutral countries in the US-Israeli war with Iran. Iranian state media ​reported that Washington conveyed its response to Iran’s 14-point proposal via Pakistan, ⁠and that Tehran was now reviewing it. Oil prices eased but held above $100 a ​barrel, with the lack of clarity around a potential U.S.-Iran peace deal remaining in focus.
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