KARACHI: Pakistan’s equity market finished the week ended September 18 with a modest gain, although trading remained volatile as investors monitored developments in the Middle East and movements in international oil prices.

The KSE-100 Index closed at 170,884.59 points, compared with 170,512 points a week earlier. This represented a weekly increase of approximately 372 points, or 0.22%.

Market activity was particularly uneven during the first half of the week. The index fell sharply on Monday before recovering on Tuesday, declining again on Wednesday and then posting stronger gains during the final two sessions.

On Friday alone, the benchmark climbed 1,841.39 points, or 1.09%, providing support to the weekly performance. (The Express Tribune)

Oil prices remained an important factor for investors because Pakistan is heavily dependent on imported energy. Brent crude had reached a four-month high of $109.07 per barrel before concerns about immediate supply disruptions eased somewhat.

Meanwhile, the State Bank of Pakistan kept its policy rate unchanged at 11.5%, with seven of the 10 members of the Monetary Policy Committee voting in favour of maintaining the rate.

Other economic indicators also attracted attention. Pakistan’s current account deficit narrowed to $98 million in August, while net foreign direct investment increased substantially during the month.

The market’s direction is likely to remain sensitive to global energy prices, geopolitical developments and Pakistan’s upcoming engagement with international financial institutions.