The Pakistan Stock Exchange (PSX) ended a turbulent week on Friday with the benchmark KSE-100 Index closing slightly higher at 163,089 points, after briefly dipping below the 163,000 mark during the session. This marked the fifth consecutive day of volatility, driven by rising geopolitical tensions and uncertainty over the Staff-Level Agreement (SLA) with the International Monetary Fund (IMF). According to Topline Securities Ltd, the index dropped by 1,433 points (0.87%) during the session, reflecting weak investor confidence. Market pressure intensified following reports that Pakistani forces allegedly carried out strikes on Tehreek-i-Taliban Pakistan (TTP) leadership inside Afghanistan, sparking diplomatic unease between the two neighbors. Major blue-chip stocks including Engro Holdings, Systems Ltd, MCB Bank, Habib Bank, and Engro Fertiliser were the biggest drags on the index, collectively erasing 732 points. Trading activity also cooled significantly, with volumes falling to 1.39 billion shares and turnover value down to Rs47.7 billion. K-Electric dominated trading with nearly 200 million shares, driven by corporate updates linked to its ownership transition. On the corporate front, two key MoUs were signed, signaling progress in K-Electric’s restructuring. One covers the transfer of shares from KES Power, while the second, between K-Electric and Trident Energy, focuses on strategic collaboration in Pakistan’s power sector. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that since hitting its record high of 169,988 points on October 3, the index has lost around 6,890 points (4.05%). The day’s trading saw extreme swings, with the benchmark plunging over 2,000 points intraday to 162,411, before recovering partially on late buying — only to face renewed profit-taking toward closing. Adding to the uncertainty, Afghanistan’s accusation of airspace violations further fueled geopolitical stress, while mixed domestic economic data left investors cautious. Weekly inflation edged up slightly, but a 20% month-on-month surge in car sales hinted at pockets of consumer resilience. Analysts predict that the KSE-100 could find technical support between 160,000–162,000 points, while resistance near 167,000 may define short-term market direction in the upcoming week. Overall, investors remain on edge, awaiting clarity on the IMF deal and regional stability before committing fresh positions in the market.