PSX sheds 670 points amid economic concerns

Summary

• The Pakistan Stock Exchange (PSX) lost around 670 points, or 0.4%, during the outgoing week as geopolitical uncertainty, high crude oil prices and fears of a possible interest rate hike weighed on investor sentiment.
• The benchmark KSE-100 index started the week on a negative note, falling 1,965 points, or 1.18%, on Monday to settle at 165,124 amid political uncertainty.
• In its weekly report, Arif Habib Limited (AHL) attributed the market’s overall decline to persistent geopolitical uncertainty, noting that the benchmark lost 670 points on a week-on-week basis.

AI Generated Summary

The Pakistan Stock Exchange (PSX) lost around 670 points, or 0.4%, during the outgoing week as geopolitical uncertainty, high crude oil prices and fears of a possible interest rate hike weighed on investor sentiment.

The benchmark KSE-100 index started the week on a negative note, falling 1,965 points, or 1.18%, on Monday to settle at 165,124 amid political uncertainty. Selling pressure continued on Tuesday, pushing the index down another 348 points, or 0.21%, to 164,776, below the key psychological level of 165,000.