index reports mix week; oil prices bullish as OPEC nears

Pakistan Stock Exchange – KSE100

KSE-100 witnessed a total fall of 595.99 points during the week. After closing positive on Friday last week, the index opened the week on a negative note losing a total of 527 points on Monday. 

Pakistan Exchange suffered from a lack of any positive triggers throughout the week, as a religious sit-in took the Federal Capital hostage.

The KSE-100 lost a total of 595.99 points during the week, with a close of 40844.40 on Friday last week and a close on 40248.41 points on Friday.

NCCPL Data

By Investor

Overseas Pakistanis, Companies, and Insurance Cos., were net buyers throughout the week whereas Foreign Corporates and Individuals, Banks/DFIs, Brokers and Mutual Funds sold their positions in the market.

By Sector

Cement, Fertilizer and all other sectors were the pick of net positive investors. Meanwhile, Food & Personal Care, Oil & Gas Marketing Companies, Oil & Gas Marketing Cos. and Commercial Banks were the net losers from the ongoing negative sentiment in the market.

Weekly Reserves

During the week ending 17 November 2017, SBP’s reserves decreased by around US $ 137 million to US $ 13,541 million.

Weekly SPI

According to figures released by the Pakistan Bureau of Statistics, the Weekly SPI for the combined group decreased by 0.31% compared to the previous week (Nov 16, 2017) and 2.06% increase over the corresponding period from last year (Nov 24, 2016)

Of the 53 items monitored 9 registered an increase, 11 decreased while 33 remained unchanged. Of the items increased, Farm, Broiler, Live Chicken prices increased by 10.85%. On the other hand to the relief of general populace prices of tomatoes -12.82% and onions -11.55% reported substantial decrease.

Weekly Oil Prices – WTI & BRENT

WTI prices got a serious boost this week after TransCanada shut down the Keystone pipeline following a leak of 5,000 barrels in South Dakota. The leak could not have come at a worse time for the Canadian pipeline builder and operator: just three days after the leak Nebraska’s regulatory authorities removed the last hurdle standing in front of Keystone XL.

WTI Month

BRENT Last month