KARACHI: 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.
Earlier, the Pakistan Stock Exchange (PSX) closed lower for the week amid volatile trading, with the benchmark KSE-100 index losing 119 points.
The index fell from 170,884 points at the end of the previous week to 170,765 points on Friday.
During the week, the index traded between a high of 172,762 points and a low of 169,890 points.
Market capitalization also declined by 41 billion rupees during the week, falling to 18,996 billion rupees.
Market analysts said investors remained cautious amid fluctuations in crude oil prices and tensions between the United States and Iran.
