Geopolitical tensions drag stocks down

The Pakistan Stock Exchange extended its losses in the past week, with the benchmark KSE-100 closing 1.3 per cent weaker at 175,329 points, according to The Express Tribune. Renewed US-Iran tensions and higher crude oil prices kept investors cautious, although corporate earnings and local buying gave the index some support. Declines in the first half of the week were followed by a modest recovery in the final two sessions.

On Monday, the index lost 721 points, or 0.41 per cent, to close at 176,976, before a fall of 508.69 points on Tuesday left it at 176,466.99. Wednesday brought the steepest decline of the week, as 1,690 points (0.96 per cent) were erased and the index settled at 174,777. A marginal 153-point gain on Thursday and a 399-point rise on Friday then brought the benchmark back to 175,329 by the week's end.

Arif Habib Limited highlighted economic readings for the week, including August consumer inflation of 11.15 per cent, up from 9.2 per cent in July. The FBR collected Rs902 billion in August, Rs28 billion below its Rs930 billion target, while 2MFY27 collections reached Rs1,722 billion. Among corporate items, Naya Nazimabad Apartments REIT drew an 8x oversubscription at the upper ceiling of Rs23, raising Rs1 billion, while urea offtake fell 14 per cent overall but Engro Fertilisers recorded 18 per cent growth.