KARACHI: The KSE-100 weekly loss reached 6,439 points, or 3.53%, as the benchmark closed at 175,802.79 on Friday, July 17.
The index had ended the previous week at 182,241.77. Therefore, the latest close confirmed a sharp reversal at the Pakistan Stock Exchange. Market data sources also placed the benchmark at 175,802.79 after Friday’s session.
During the week, the index traded between about 173,349 and 181,148 points. As a result, its trading range widened to nearly 7,799 points.
Selling intensified after renewed US-Iran tensions pushed global oil prices higher. Earlier in the week, the benchmark fell by more than 6,400 points in a single session as investors reduced exposure to major stocks.
However, the market recovered part of those losses before Friday’s close. Buying returned during the week, lifting the index above 175,000.
Read: Pakistan Petrol Price Rises Rs5.44, HSD Up Rs31.05
Banking, oil, cement and other heavyweight shares remained central to the volatility. Meanwhile, investors continued selective buying in smaller counters.
PSX-100 Index gained 2,837 points. However, the Pakistan Stock Exchange does not list an official index under that name. Its recognised measures include the KSE-100, KSE-30, KMI-30, and KSE All-Share indices. Therefore, the unverified 2,837-point figure has been removed.
The supplied draft also linked the decline to external financing concerns, IMF uncertainty and mutual-fund redemptions..
