PSX extends losses for fourth straight week amid economic uncertainty

Dawn reported that the Pakistan Stock Exchange logged a fourth straight weekly fall as domestic political unrest, geopolitical strains, inflation worries and the prospect of a rate increase weighed on sentiment. According to Arif Habib Ltd, the benchmark KSE-100 ended the week 0.4 per cent lower, a fall of 670 points that left it at 166,419.

AKD Securities noted that the heaviest single-session fall came on Monday, when the index lost 1,965 points following the imposition of emergency and governor's rule in Khyber Pakhtunkhwa. Part of that loss was recovered as early selling pressure faded. Brent crude climbed to $107 a barrel during the week, with supply disruptions through the Strait of Hormuz and renewed attacks on Saudi energy sites continuing even after the International Energy Agency released extra emergency oil reserves.

Sector data showed oil and gas exploration stocks pulled the index lower by 330 points, while banks and cement removed 319 and 136 points, with fertiliser counters providing the strongest support at 171 points. On the external front, the current account deficit widened to $356 million in September from $73 million in August, and the trade gap reached $3.53 billion in the month. Analysts said the September-quarter results season, starting next week, alongside geopolitical developments, would remain key drivers.