PSX extends losses on oil, geopolitical risks

At the close of trading, the KSE-100 index fell 352.63 points, or 0.21%, and settled at 167,089.28.Arif Habib Limited's (AHL) trading-floor note recapped the PSX session of Friday, saying the KSE-100 closed down 352.6 points, or 0.21%, and extended the weekly decline to 0.64%.

Breadth was mildly positive, with 52 shares advancing against 45 decliners.

EFERT (+0.82%), TPLRF1 (+7.65%) and ENGROH (+0.27%) made the largest positive index contribution, while heavyweight banks such as HBL (-1.37%), UBL (-0.57%) and MCB (-1.27%) were the principal drags.The note highlighted the State Bank of Pakistan's data that showed total foreign-exchange reserves at $26.8 billion as of October 2 and also flagged ongoing Pakistan-United Kingdom discussions on aviation cooperation that could involve Airbus and Rolls-Royce equipment for PIA, potentially backed….

Technical levels cited for the coming week place resistance near 170,000 points and support near 165,000.AHL noted that overall the update presented a modestly softer close inside a still-elevated index range, with selective strength in fertilisers and certain mid-caps offset by pressure in the banking sector, against a backdrop of stable reserves and prospective foreign commercial arrangements.Topline Securities noted that a range-bound activity was observed at the exchange during the….

The lacklustre performance reflected investors' preference to remain on the sidelines amid a lack of fresh market triggers and persistently elevated oil prices.Top positive contribution to the index came from EFERT, TPLRF1, ENGROH, PSEL and POL, as they cumulatively contributed 131 points; whereas the major negative contribution came from HBL, UBL, MCB, OGDC and FFC, as they weighed down the index by 334 points.Topline said that traded value-wise, PSO (Rs616….

The value of shares traded during the day stood at Rs15.44 billion.

Shares of 497 companies were traded in the ready market.

Of these, 243 stocks closed higher, 203 fell, and 51 remained unchanged.Cnergyico Pk was the volume leader with trading in 27.28 million shares, gaining Rs0.13 to close at Rs12.52.

It was followed by Pakistan Refinery with 24.12 million shares, gaining Rs1.95 to close at Rs93.07, and Treet Corp with 22.90 million shares, gaining Rs1.47 to close at Rs23.72.

Foreign investors sold shares worth Rs19 million, the National Clearing Company reported.

PSX extends losses on oil, geopolitical risks Our Correspondent | Updated 3 minutes ago | KSE-100 falls 353 points; rising bond yields add to pressure.