Overview
- The KSE-100 closed at 163,098 on Oct. 10, down 1,433 points, after plunging to 162,411 intraday before a partial rebound.
- The benchmark lost 5,892 points for the week, a 3.49% decline that halted a five-week winning run, with banks, power, and oil and gas the biggest drags.
- Turnover stayed elevated with about 1.39 billion shares traded and Rs47.7 billion in value on Friday, following 1.57 billion shares and roughly Rs50.5 billion the previous session.
- Traders cited persistent selling by local institutions and some foreign corporates as the main pressure on prices, with profit-taking overpowering early recoveries.
- IMF talks were described by Mission Chief Iva Petrova as making substantial progress toward a staff-level agreement, while the World Bank cut Pakistan’s growth forecast to 2.6% and SBP reported Q1 remittances up 8% year-on-year to about $9.6 billion as global worries, including a US government shutdown, weighed on sentiment.