KARACHI —

The Pakistan Stock Exchange (PSX) concluded its third consecutive week under pronounced bearish pressure, culminating on July 24, 2026, as escalating geopolitical friction in the Middle East sent shockwaves through global energy markets.

Geopolitical Catalysts and Market Reaction

The announcement of a renewed blockade in the Red Sea by Houthi forces catalyzed a sharp surge in international Brent crude oil prices, propelling them above the US$100 per barrel threshold for the first time in nearly two months. This macroeconomic perturbation severely dampened investor sentiment, triggering broad-based liquidation across domestic equities.

Benchmark Index and Capitalization Erosion

The benchmark KSE-100 Index plummeted by 2.7 percent on a week-on-week basis, surrendering 4,781.60 points to settle at 171,021.20 points, down from the preceding week’s close of 175,802.80 points. This sustained downward trajectory reflected profound investor apprehension regarding the compounding implications of elevated global energy costs on Pakistan’s domestic inflation and external account stability.

Concurrently, the broader market witnessed a substantial attrition in aggregate value. Total market capitalization contracted by 2.6 percent, dwindling to Rs19.278 trillion from Rs19.790 trillion, representing a staggering wealth evaporation of approximately Rs512.03 billion. Denominated in US dollars, the market capitalization similarly receded by 2.6 percent to US$69.38 billion from US$71.20 billion.

Sectoral Performance Divergence

Performance across industrial sectors remained overwhelmingly dismal. Refineries emerged as the solitary major outperformer, registering a 5.5 percent advance, buoyed by higher product prices. Conversely, the Food sector contracted by 0.6 percent, while Commercial Banks and Automobile Assemblers each capitulated by 2.5 percent.

The Power sector depreciated by 2.6 percent. Exploration and Production (E&P) companies relinquished 2.8 percent, while Pharmaceuticals and Chemicals each declined by 2.9 percent. The Cement and Engineering sectors fell by 3.2 percent, Fertilizer stocks retreated by 3.4 percent, and Technology & Communication slid by 3.6 percent. Textile Composite slipped 4.1 percent, and Oil Marketing Companies (OMCs) recorded the most precipitous decline among major sectors, shedding 5.1 percent of their value.

Notable Outliers in a Sea of Red

Despite the pervasive market malaise, a select few equities defied the broader trend. YOUW emerged as the paramount performer, appreciating 8.9 percent to Rs5.60. CNERGY followed suit, gaining 4.9 percent to Rs10.29, while PGLC advanced 4.3 percent to Rs15.91. Attock Refinery (ATRL) increased by 2.2 percent to Rs919.68, Nestlé Pakistan rose 1.8 percent to Rs7,752.21, Pioneer Cement (PIOC) added 1.3 percent, and Ghani Glass (GHNI) secured a modest 1.2 percent gain during the trading week.

Note: As no specific, verified official social media embed from the PSX or corporate entities directly addressing this exact weekly wrap-up was available without risk of expiration, readers are advised to consult the official Business Recorder press release or the official PSX daily market notices for authoritative, real-time data verification.