KARACHI: The Pakistan Stock Exchange (PSX) recorded a decline of 670 points during the business week, as geopolitical tensions between the United States and Iran and concerns over a possible interest rate hike weighed on market sentiment.
The benchmark KSE-100 Index closed at 166,419 points, down from 167,089 at the end of the previous week.
During the five trading sessions, the index touched a high of 166,988 points and a low of 164,060 points, reflecting fluctuations in investor sentiment amid uncertainty over geopolitical developments and the interest rate outlook.
Market activity remained subdued as investors weighed the potential impact of regional tensions and higher borrowing costs on economic and corporate prospects.
The market’s total capitalization fell by Rs89 billion during the week to Rs18.479 trillion, reflecting a decline in the overall value of listed companies.
Earlier, 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.
