PSX extends losses for fourth straight week amid economic uncertainty
KARACHI: The Pakistan Stock Exchange (PSX) recorded a fourth consecutive week of declines as domestic political uncertainty and geopolitical tensions weighed on investor sentiment amid inflation concerns and the prospect of an interest rate hike. As a result, the benchmark KSE-100 index fell 0.4 per cent week-on-week, shedding 670 points to close at 166,419, according to Arif Habib Ltd (AHL).…
The Pakistan Stock Exchange (PSX) saw a fourth consecutive week of declines due to political uncertainty, geopolitical tensions, and inflation concerns. The benchmark KSE-100 index dropped 0.4 percent week-on-week, closing at 166,419 points after shedding 670 points. Brent crude prices surged to $107 per barrel amid energy supply disruptions and attacks on Saudi infrastructure.
The State Bank of Pakistan (SBP) anticipates monetary tightening, further dampening investor sentiment. Exploration and production firms led the decline, while banks, cement, investment banks, and power companies also suffered. Fertilizer stocks provided the biggest support, while oil marketing companies and refineries suffered losses.
The trade deficit widened to $3.53 billion in September, with exports growing and imports rising. Pakistan's real effective exchange rate increased to 108.93, while the rupee appreciated slightly. Record 25,280 investor accounts were added to the PSX, totaling 656,000 unique identification numbers. Analysts noted that geopolitical developments and the September-quarter results season would continue to drive market sentiment.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
