PSX falls 0.6pc as oil prices, global tensions wei...

Summary

• The Pakistan Stock Exchange (PSX) ended the outgoing week on a negative note as escalating geopolitical tensions, high international oil prices and rising bond yields dampened investor sentiment, overshadowing optimism over Pakistan’s agreement with the International Monetary Fund (IMF).
• The benchmark KSE-100 Index dropped 1,066 points, or 0.6 per cent week-on-week, to close at 167,089 points, according to Arif Habib Ltd (AHL).
• Cut-off yields on three-, five- and 10-year bonds increased by 26 to 41 basis points, while the two-year yield declined by 19 basis points.

AI Generated Summary

The Pakistan Stock Exchange (PSX) ended the outgoing week on a negative note as escalating geopolitical tensions, high international oil prices and rising bond yields dampened investor sentiment, overshadowing optimism over Pakistan’s agreement with the International Monetary Fund (IMF).

The benchmark KSE-100 Index dropped 1,066 points, or 0.6 per cent week-on-week, to close at 167,089 points, according to Arif Habib Ltd (AHL).

Investors remained cautious amid growing security concerns around key shipping routes. Yemen’s Houthi group expanded its targets to Saudi Arabia’s civilian infrastructure and energy facilities, while Ukrainian drone attacks on Russian refineries and concerns about US energy supplies kept international oil prices elevated. According to AKD Securities Ltd, Brent crude remained above $100 per barrel.