KARACHI: Pakistan’s stock market recorded a steep weekly decline, with the benchmark KSE-100 Index falling 3.5% as geopolitical tensions and higher global oil prices dampened investor confidence.
The KSE-100 Index lost 6,439 points during the five-day trading week, closing at 175,802 compared with 182,241 at the start of the week. The benchmark also fell below seven key psychological levels during the period.
The index reached a weekly high of 181,148 points and touched a low of 173,349 before recovering slightly by the close of trading.
Market capitalization declined by Rs712 billion over the week to Rs19.79 trillion, reflecting broad-based selling across the market.
Trading activity remained robust, with investors exchanging 3.69 billion shares worth approximately Rs171 billion during the week.
Market analysts attributed the sharp decline to heightened tensions between the United States and Iran, coupled with elevated crude oil prices, which weighed on investor sentiment and increased uncertainty in financial markets.
More read, KSE-100 loses ground despite active trading volume
Earlier, Pakistan’s stock market came under heavy selling pressure, with the benchmark KSE-100 Index losing three key psychological levels as investors reacted to a widening current account deficit and increased selling activity.
During the trading session, the KSE-100 Index fluctuated between an intraday high of 178,694 points and a low of 175,790 points. The benchmark had closed at 178,123 points in the previous session.
Trading remained active, with 618.6 million shares changing hands in deals worth approximately Rs29 billion. A total of 566 companies were traded during the session.
Market breadth remained firmly negative, as share prices of 101 companies advanced, while 367 companies declined.
Market experts said investor sentiment weakened after the country’s current account shifted from a surplus to a deficit, while sustained selling pressure further accelerated the market’s decline.
