KARACHI: The Pakistan Stock Exchange’s benchmark KSE-100 Index fell 1,066 points, or 0.69%, during the outgoing business week amid global political and geopolitical uncertainty and investor concerns over rising oil prices and a widening trade deficit.
The index closed at 167,089 points, down from 168,155 at the end of the previous week, losing a key psychological level during the five trading sessions.
During the week, the benchmark index touched a high of 169,271 points and a low of 165,651 points.
The market’s total capitalization declined by Rs156 billion over the five sessions, falling to Rs18,569 billion.
Investor sentiment remained under pressure amid concerns over elevated international oil prices and the possibility of a further increase in the country’s trade deficit, alongside continuing global political and geopolitical uncertainty.
Earlier, Pakistan’s stock market remained under pressure during the outgoing week, with the benchmark KSE-100 Index falling 2,610 points to close at 168,155.
The index breached two psychological levels during the week as investor sentiment remained cautious.
The decline wiped out around Rs270 billion from investors’ wealth, while the market capitalization fell to Rs18.725 trillion.
During the week, the KSE-100 Index touched a high of 171,126 points and a low of 167,685 points.
Average daily trading volume stood at 525 million shares, while average daily traded value declined 17% to Rs18.7 billion.
Market analysts attributed the continued pressure to the lack of positive developments in US-Iran relations and elevated oil prices.
They said cautious investor sentiment kept trading activity subdued during the week.
