Pakistan's benchmark KSE-100 index fell 784.19 points, or 0.47%, on Friday 30 October to close at 166,409.25, ending a four-session winning run that had added about 4,800 points. The index had closed the previous session at 167,193.44, touched an intraday high of 167,339 on Friday, then slipped to close near the day's low. The KMI-30 index, which tracks Sharia-compliant companies, fell 986.41 points, or 0.41%, to 237,971.74.

The week still closed higher

Despite Friday's fall, the week as a whole was positive. The index closed the week ended 30 October at 166,409.25, up 4,034.37 points, or 2.48%, from 162,374.88 on 23 October. Market capitalisation rose to Rs4.660 trillion from Rs4.554 trillion over the same week, an increase of about Rs106.51 billion, or 2.34%. The recovery was linked by market reports to renewed diplomatic efforts around the Middle East conflict and strong corporate earnings during results season, with average daily trading volume sharply higher.

Why Friday turned lower

Brokers cited profit-taking after four days of gains, alongside rising oil prices and concern about Gulf tensions. Brent crude had climbed towards $118 a barrel, and reports of attacks on tankers in the Strait of Hormuz added to supply worries.

The wider October picture

October was still a negative month overall, with the index down about 3,500 points across the month, between a high of 170,688 and a low of 161,250. The State Bank of Pakistan had raised its policy rate by 50 basis points to 12% on 26 October, citing rising inflation pressures linked to the Middle East conflict, while keeping its growth forecast for the financial year at 3.5% to 4.5%.