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KARACHI: The Pakistan Stock Exchange (PSX) closed lower during the outgoing short week as uncertainty over a possible US-Iran agreement and the reopening of the Strait of Hormuz kept investors cautious, while elevated oil prices continued to weigh on sentiment.
According to Arif Habib Ltd (AHL), the KSE-100 index fell 0.73 per cent, or 1,325 points, week-on-week to close at 180,104.
Topline Securities Ltd noted that the index largely traded sideways amid limited progress in US-Iran negotiations and a lack of fresh market triggers.
AKD Securities Ltd said Brent crude crossed $90 per barrel during the week, compared with $84 last week, before easing to around $86. The elevated oil prices added to concerns over external-sector pressures and kept investors wary.
