Pakistan Stock Exchange records fourth week of losses amid regional tensions
The Pakistan Stock Exchange posted declines for a fourth consecutive week in Karachi as political uncertainty and global oil prices weighed on investors.
Benchmark index falls further
The benchmark KSE-100 index closed at 166,419 points after shedding 670 points during the week. This decline represents a drop of 0.4 per cent compared to the previous session. Sector performance showed exploration and production companies led the losses with a 330 point fall.
Oil prices drive pressure
Crude oil prices rose to $107 per barrel due to supply disruptions in the Strait of Hormuz. Rising energy costs alongside expectations of an interest rate hike by the State Bank added to market stress. Banks and cement companies also recorded significant losses during this trading period.
Political events impact trade
Emergency rule imposed in Khyber Pakhtunkhwa caused a sharp sell-off on Monday before prices recovered slightly. Global tensions involving Iran and the United States continued to influence investor sentiment throughout the week. Asian markets generally slipped as concerns over artificial intelligence funding needs grew globally.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Dawn
- Business Recorder
Reported by
2 independent outlets. Headlines as published. Links open the original report.