KARACHI: The Pakistan Stock Exchange (PSX) ended the week in negative territory, with the benchmark KSE-100 Index declining 1.74% as heightened geopolitical tensions and rising global oil prices dampened investor confidence.
The KSE-100 Index lost 3,131 points during the five trading sessions, closing at 182,241 points, down from 185,372 points a week earlier. The decline pushed the market below three key psychological levels during the week.
Despite touching an intraday weekly high of 188,126 points, the benchmark index later fell to a weekly low of 179,411 points before recovering slightly by the close.
Market capitalization also contracted by Rs259 billion over the week, falling to Rs20.503 trillion, reflecting broad-based selling pressure across the market.
Market experts attributed the downturn primarily to renewed tensions between the United States and Iran, coupled with higher international crude oil prices.
They said the uncertain external environment weakened investor sentiment, while profit-taking by investors further accelerated the market’s decline.
More read, PSX hits 185,000 milestone after five months
Earlier, Pakistan Stock Exchange (PSX) continued its winning streak for a fourth straight session, with the benchmark KSE-100 index closing above the 185,000-point level as improving geopolitical conditions and stronger economic sentiment supported the market.
The index rose 0.5%, or 930 points, to close at 185,464, moving closer to its all-time high of more than 189,000 reached on Janurary 23.
According to Topline Securities, investor confidence remained strong due to lower international oil prices, which are expected to ease pressure on Pakistan’s external account.
The gains were mainly led by United Bank Ltd., Oil and Gas Development Company, Fauji Fertilizer Company, Mari Energies and Pakistan Petroleum Ltd. These stocks together added around 611 points to the index.
