AHL Research’s weekly report on PSX noted that geopolitical tensions impacted the KSE-100 index, which declined by 2% WoW to 170,672 points amid delays in US–Iran negotiations. Oil prices rose due to unrest in the Strait of Hormuz, affecting global equities and investor sentiment.

In other developments, the World Bank reclassified Pakistan to the MENAAP region effective FY2026. Pakistan received the final USD 1bn tranche of Saudi Arabia’s support package and repaid USD 3.45bn to the UAE.

Gas production fell by 3.1% WoW to 2,962 mmcfd, and oil production decreased by 1.1% WoW to 66,838 bopd. Pakistan raised an additional USD 250mn through Eurobond issuance, totalling USD 750mn. In March, repatriation of profits and dividends dropped 35.1% YoY but rose 110.3% MoM to USD 102.4mn. As of April 17th, SBP reserves increased by USD 18mn to USD 15.1bn, and the PKR appreciated slightly against the USD to 278.85.

The outlook for the KSE-100 remains linked to US–Iran developments, with March-quarter earnings and monetary policy decisions influencing market direction. Currently, the KSE-100 trades at a P/E of 8.3x and offers a dividend yield of ~6.3%. Top stock picks include OGDC, PPL, FFC, LUCK, NBP, HUBC, PSO, and ATRL.