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PSX Sheds 3,700 Points, Marks Sixth Weekly Decline as Oil Spikes

Markets now look to Monday’s SBP policy decision, with a widely expected hold at 10.5%.

Overview

  • KSE-100 closed at 157,496, down 3,715 points or 2.30%, after swinging between an intraday high of 161,436 and a low of 157,073.
  • Large-cap drags including UBL, Engro Holdings, FFC, Lucky Cement, Hub Power, Meezan Bank, Systems, OGDC and others erased roughly 2,100–2,162 points from the index.
  • Turnover cooled sharply from the previous session, with volumes at about 363 million shares and traded value at roughly Rs23.11 billion.
  • Market capitalization fell by nearly Rs403.6 billion to about Rs17.70 trillion, and breadth skewed negative with far more decliners than gainers.
  • The index posted a sixth straight weekly loss of around 10,280 points (about 6%) as investors de-risked on USIran tensions and higher oil prices, with near-term direction seen hinging on geopolitics and the SBP outcome.