PSX below 170k on weak sentiment

According to The Express Tribune, the KSE-100 index lost 2,610 points, or 1.5 per cent, over the outgoing week and closed at 168,155. Geopolitical tension, elevated oil prices and stalled US-Iran talks kept investors cautious throughout. Trading activity was thin, with average daily volume falling 22 per cent to 525 million shares and traded value dropping 17 per cent to Rs18.7 billion.

The index dipped below the 170,000 mark during the week, with Monday's 340-point slip followed by an 825-point fall on Tuesday to 169,600. Thursday's 1,332-point decline was the largest single-day drop of the period. Sentiment was also weighed by a wider trade gap and higher T-bill yields, though September inflation eased to about 10.3 per cent from 11.1 per cent in August.

FBR tax collection rose 9 per cent year on year to Rs1,344 billion in September, lifting the quarterly total to Rs3,066 billion. Crude and POL imports climbed 21 per cent in August, while refinery supplies jumped 32 per cent in September. State Bank-held reserves were $21.4 billion as of October 1, covering 3.04 months of imports.