The Pakistan Stock Exchange had a rough week.
The KSE-100 Index started the week at 175,328.82 points and ended Friday at 170,511.85, losing 4,816.97 points, or 2.75%, over the five sessions. The index’s weekly high was 175,353.67 on Monday, while its lowest point came on Friday at 166,141.19.
The pressure was visible from the opening session. On Monday, renewed US-Iran tensions and higher international oil prices unsettled investors. The index fell 1,692.74 points, with heavyweight names including UBL, OGDC, PPL, MCB and FFC among the major drags. Trading remained active, with around 679 million shares worth Rs23.69 billion changing hands.
Tuesday brought another decline. The KSE-100 lost 993.92 points as investors booked profits amid the continuing geopolitical uncertainty and rising oil prices. The index moved as high as 173,736 before falling to 171,491 during the session. CNERGY, Media Times and Pakistan Refinery were among the most actively traded stocks.
Selling continued on Wednesday, although at a slower pace. The benchmark slipped another 698.57 points to 171,943.59. The market weakened particularly toward the close as renewed attacks in the Middle East kept investors cautious. CNERGY remained the volume leader, followed by Aisha Steel and Thatta Cement.
Then came Thursday.
It was the week’s toughest session. The KSE-100 plunged 3,078.54 points, or 1.79%, to close at 168,865.05. The index fell to 168,472 during the day as the sharp rise in oil prices and renewed US-Iran attacks intensified concerns about inflation, the import bill and Pakistan’s external account. CNERGY alone accounted for almost 100 million shares of volume.
Friday finally changed the tone.
The market opened under pressure after fresh attacks on Saudi energy facilities pushed crude prices higher. Later, reports that Gulf countries were considering discussions with Iran over the Strait of Hormuz helped bring oil prices down. The KSE-100 recovered strongly and finished at 170,511.85, gaining 1,646.81 points, or 0.98%. MEBL, FFC, LUCK, PPL, OGDC and EFERT were among the strongest positive contributors. Trading value also reached roughly Rs33.6 billion, the highest of the week.
Despite Friday’s recovery, the week’s overall picture remained weak. Investors were primarily watching oil, geopolitics and their possible impact on Pakistan’s inflation and external financing position.
For the next week, those factors are likely to remain important. The market has shown that it can recover quickly when oil and geopolitical fears ease, but Thursday’s sell-off also showed how quickly sentiment can turn when those risks intensify.
In short: Friday provided relief, but it wasn’t enough to erase a difficult week.
