Weekly Market Roundup

Mettis Global reported that the benchmark KSE-100 closed the week ended September 4 at 175,328.82 points. That was a weekly loss of 2,367.69 points, or 1.33 per cent, from 177,696.51 points on August 28. Investor sentiment stayed cautious as fresh hostilities involving the US and Iran raised fears of disruption to crude flows from the Middle East. Regional uncertainty also weighed on risk appetite.

The PSX market capitalisation shrank by Rs70.97bn over the week to Rs4.947tr, a decline of 1.41 per cent. In dollar terms, the figure dropped by roughly $250.05m. Foreign investors were net sellers of equities worth $7.41m, with foreign corporates selling $12.04m of shares.

Commercial Banks were the largest drag on the index at 1,317.84 points, followed by Cement at 334.08 points. Fertilizer stocks provided the main support with 82.30 points of gains. Local investors, meanwhile, were net buyers of equities worth Rs2.05bn.