Pakistan’s stock exchange declined during the week ending September 6, with the KSE-100 index losing 1.3% to close at 175,329 points. Renewed tensions between the US and Iran, combined with higher crude oil prices, kept investors cautious throughout the trading week. The market showed initial weakness in the first half of the week before recovering somewhat in the final two sessions.
Corporate earnings and local buying provided some support despite the broader pressure. Analysts noted that the Federal Board of Revenue collected 902 billion rupees in August, though this fell short of its target. The Consumer Price Index for August reached 11.15% year-on-year, rising from 9.2% in July. Oil marketing company sales declined 3% year-on-year in August amid higher fuel prices, though refinery supplies surged.
Trade data showed Pakistan posted a 3.2 billion dollar trade deficit in August, with exports rising 3.8% and imports increasing 7.4% year-on-year. Local investors and companies purchased net equities worth around 20.7 million dollars during the week, while mutual funds and foreign corporates sold net equities. Average daily trading volume reached 767 million shares valued at 33 billion rupees.