PSX closes lower as geopolitical uncertainty weighs

Dawn reported that the Pakistan Stock Exchange ended the short week lower, as traders stayed wary of a possible US-Iran agreement and the timing of the Strait of Hormuz reopening. According to Arif Habib Ltd, the KSE-100 index slipped 0.73 per cent, a fall of 1,325 points, week-on-week to settle at 180,104. Brent crude rose above $90 per barrel during the week from $84 earlier, before easing to around $86, keeping pressure on sentiment.

Trading activity improved despite the softer tone. Daily trading volume averaged 853.3 million shares, up 14 per cent week-on-week, and average traded value grew 13 per cent to $137m. Exploration and production companies contributed 297 points to the index and refineries 159 points, while leather and tanneries added 76 points. Power, technology and cement were the main drags, costing the index 445, 236 and 234 points respectively.

Hub Power was the heaviest single drag, taking 435 points off the index, while Habib Bank was the top positive contributor at 280 points. Other domestic figures in the report showed July car sales up nearly 80 per cent year-on-year, workers' remittances at $3.6bn, and an FY26 fiscal deficit of Rs3.313 trillion, its lowest since FY18.