Karachi: The KSE-100 index experienced a 0.4% week-on-week decline, closing at 78,488 points, influenced by Pakistan’s exclusion from the IMF’s executive board meeting agenda. Despite global rating agency Moody’s upgrading Pakistan’s debt ratings, market participation remained robust with an average daily traded volume of 602.12 million shares.

According to AKD Securities Limited, the financial outlook was mixed, as the government sought additional funding from Saudi Arabia and Middle East-based commercial banks to bridge its external financing gap. The State Bank of Pakistan’s foreign exchange reserves increased by $112 million, totaling $9.4 billion as of August 23. The market saw a marginal rise in secondary market yields, with the three-month yield at 18.05% and the one-year at 16.95%.

The Pakistani Rupee stabilized against the US dollar, ending the week at 278.54. Sector-wise, Jute, Transport, Exchange Traded Funds, Food & Personal Care Products, and Textile Weaving outperformed, while Textile Spinning, Leather & Tanneries, Vanaspati & Allied Products, Real Estate Investment Trust, and Paper & Board lagged behind.

The Federal Board of Revenue is anticipated to fall short of its August collection target by PKR 50 billion. Other notable developments included Punjab’s extension of power relief to the federal capital and discussions on incentives to attract foreign direct investment. A plan for re-profiling $8 billion in CPEC debt is also underway, amid revised remittance incentive schemes and a notable repatriation of $139 million by foreign investors in July.