KARACHI: The Pakistan Stock Exchange (PSX) experienced a sharp decline during the outgoing week, as investor sentiment was undermined by a combination of global and domestic uncertainties.

The KSE-100 index fell by nearly 3.5 per cent, weighed down by concerns over the delayed staff-level agreement (SLA) with the International Monetary Fund (IMF), geopolitical tensions in the region, and widespread profit-taking.

According to Topline Securities, the benchmark index slipped by 3.48pc on a week-on-week basis, closing at 163,098 points. This decline came as market participants reacted to reports early in the week that the IMF had raised concerns over a $11bn trade data gap. Although the State Bank of Pakistan (SBP) clarified the situation later, investor concerns persisted.

Additionally, the selling pressure from the insurance sector, which saw a net sell of $25m, further dampened market sentiment. Geopolitical risks, particularly the recent blast in Kabul, added to the unease, heightening fears of escalating tensions with Afghanistan.

Other key developments during the week........

© Dawn Business