Weekly Market Roundup

The KSE-100 fell 4,044.84 points, or 2.43%, over the week ended October 23, closing at 162,374.88, Mettis Global reported. The benchmark had ended the previous week at 166,419.72, while PSX market capitalisation contracted by Rs126.46 billion to Rs4.554 trillion. The report cited escalating Saudi Arabia-Houthi hostilities and higher global oil prices as factors weighing on sentiment, alongside concerns about Pakistan’s import bill and external account.

The weekly retreat was broad: commercial banks subtracted 924.59 index points, followed by technology and communication, investment and securities companies, cement, and power. ENGROH led individual-stock losses with a 488.87-point drag; SYS, LUCK, ATRL and HUBC also weighed on the index. On the positive side, PSEL added 26.33 points, the largest individual contribution. Foreign investors were net equity sellers of Rs1.57 billion, while local investors recorded net purchases of the same amount. The roundup also reported September external financing of $3.74 billion and foreign profit and dividend repatriations of $306.8 million.