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KSE-100 Closes Lower After Whipsaw Session on Afghanistan Tensions

Geopolitical risk from reported operations in Afghanistan drove a sharp risk-off tone.

Overview

  • The benchmark index fell 830.92 points to 168,062.17 after dropping as much as 3,081 points intra-day before partial recovery.
  • Weekly losses totaled about 5,107 points, with the gauge sliding from 173,169 to 168,062 and swinging between a 174,336 high and a 162,953 low.
  • Major drags included United Bank, Fauji Fertiliser, Oil and Gas Development Company, Pakistan Petroleum and MCB Bank, which together cut 658 points.
  • Trading thinned to 536.24 million shares with Rs25.54 billion in value as market capitalisation slipped to roughly Rs18.93 trillion and breadth turned negative at 161 advancers versus 257 decliners.
  • Foreign investors were net sellers of approximately Rs1.5 billion, according to National Clearing Company data.