Selling pressure dominated the Pakistan Stock Exchange on Tuesday, pushing the benchmark KSE-100 Index down 993.91 points, or 0.57%, to close at 172,642.16. The index opened near 173,500 and reached an intra-day high of 173,736.19 before falling to a low of 171,490. A late recovery brought the market back towards 173,000. UBL, LUCK, MEBL, NBP and PPL collectively pulled the index down by approximately 485 points, while PSEL, MCB and ATRL contributed around 199 points. In the previous session, the KSE-100 had declined 1,692.74 points, or 0.97%, to close at 173,636.08.

The Pakistan Stock Exchange has partnered with the UK’s MOBILIST programme to attract private investment for sustainable development and climate-transition projects in Pakistan. MOBILIST will collaborate with PSX issuers and market intermediaries to identify eligible initial public offerings and new listed products. The programme will provide equity capital, technical assistance and advisory services to help Pakistani businesses access capital markets and develop sustainable investment opportunities.

The KSE-100 Index experienced volatile trading but closed the week at 177,696 points, gaining 530 points or 0.3%. Brent crude declined 5% to around $89.70 per barrel, while domestic petrol and diesel prices increased. Moody’s upgraded Pakistan’s sovereign credit rating from Caa1 to B3, and foreign exchange reserves held by the State Bank remained stable at $17.1 billion. Meanwhile, preparations continued for the IMF’s fourth EFF review, power distribution company privatization and gas tariff restructuring.