PSX slips in October on economic, geopolitical uncertainty

The Pakistan Stock Exchange (PSX) reversed course in October, with the KSE-100 index falling 2.33 per cent for the month, marking its first negative close since February. Market analysts attributed the decline primarily to profit-taking by insurance companies and mutual funds after an extended rally. Weak corporate earnings in the September quarter further weighed on investor sentiment, signalling a cautious near-term outlook. According to Topline Securities Ltd, investor participation increased on a month-on-month (MoM) basis, with average daily traded volume rising 90 per cent to 1.4bn shares and average daily value climbing 25pc to Rs52.7bn. Despite higher trading activity, net buying was largely from companies, totalling $9.2m, while mutual funds were the major sellers, offloading $15m during the period.