Index ends the week on bullish note as Rupee tumbles

Pakistan Stock Exchange – KSE100

During the last week ending Thursday, KSE-100 witnessed a total fall of 930.05 points, a 2.3% all in its value from the previous week. The index has gone on to shed more points as the political uncertainty deepens in the country. Political Analysts continue to pose a significant case for early elections as a range of protests from different political parties is expected to ensue in the coming weeks.

Furthermore, the reserves went down dramatically during the last reported week. The intake of $ 2.5 billion from the Sukuk and Euro is expected to bolster the crisis situation in the external front of the economy.

The exchange rate was let go from the State Bank in the previous week as SBP announced it plans to change the approach towards Exchange Rate adjustments and the let market forces decide the rate after a series of warnings from different international bodies and financial institutions which include IMF, WB, UN etc,

The KSE-100 lost a total of 930.05 points during the week, with a close of 40010.36 on Friday last week and a close of 39080 points on Friday, 8^th December.

NCCPL Data

By Investor

Overseas Pakistani, Banks/DFIs, Brokers, Companies, Individuals, Insurance Cos., Mutual Funds, NBFC, and other organizations were net buyers throughout the week whereas Foreign Corporates offloaded their investments by 38 million in the market.

By Sector

Cement, Food & Personal Care Products, Oil & Gas Marketing Companies Oil & Gas Exploration Cos., Power Generations Cos., Commercial Banks, Technology & Communications, Textile Composite and Other Sectors were the pick of investors. Meanwhile, Fertilizer was the least favorite of investors who couldn’t garner much interest from any investors.

Weekly Reserves

The total liquid foreign reserves held by the country stood at US$18,744.9 million on 30November2017.The break-up of the foreign reserves position is as under:-

The break-up of the foreign reserves position is as under:-

During the week ending 30 November 2017, SBP’s reserves decreased by US $ 887 million to US $ 12,660.5 million, due to external debt and other official payments.

Weekly SPI

According to figures released by the Pakistan Bureau of Statistics, weekly SPI for the combined group decreased by 0.13% compared to the previous week (Nov 29, 2017) and 1.95% compared to the corresponding period (Dec 08, 2016) last year.

Of the 53 items monitored, the average weekly price of 14 items registered an increase, 10 decreased while 29 remained unchanged.

Weekly Oil Prices – WTI & BRENT

After sinking for much of the week, oil prices recovered slightly on Thursday and Friday. Analysts attributed the rise to tensions in the Middle East after the Trump administration announced the U.S. would move its embassy in Israel to Jerusalem, a move that was met with widespread protest in the region. Meanwhile, data from China showed strong crude import data for November – imports jumped above 9 million barrels per day, up from 7.3 mb/d a month earlier.

WTI Month

BRENT Last month