Market Weekly Performance Summary

Weekly Report

Pakistan Stock Exchange witnessed a very docile week. As the market activity was subdued. The week was marred by the shocking performance during the last week. The market last week dropped 7.8 percent in just a week. The markets on last Friday closed on a tally of 48,555 points. After the last weeks episode of carnage the market started the current on a positive note by adding more than 1000 points on Monday recovering some of the previous week’s losses. However, the rest of the week was relatively uneventful when compared to Monday’s stellar performance. Tuesday to Friday, market was unmoved.

The market gained 2.0 Percent during the week, increasing the market cap by 1.7percent.

Autos sectors were most profitable during the week as government led schemes helped strengthen the position of overall industry and the index. Auto sector led 7-8% during the week where as the E&P was unmoved despite the falling oil prices.

Events in the week

• SCO Summit in Astana, Pakistan becomes a member
• World Bank reports forecasts strong agriculture growth
• KSA led Gulf States sever diplomatic ties with Qatar
• Sindh Government unveils Rs 1.04 trillion budget
• Moody forecasts 5percent growth in economy fit the coming fiscal year
• SSGC warns of supply cuts to 11 government defaulters
• SECP notifies draft regulations under the Companies Act and Limited Liability Partnership Act
• Seventh Round of negotiations on Pak-Turk FTA continues in Turkey
• Pakistan to continue gas Agreement with Qatar

Monday

Market shrugged off last week ‘s carnage subsided on the first day of incumbent week. With market crossing the 50,000 points threshold, as automobile assemblers, automobile parts and accessories, cement, chemical, commercial banks, fertilizer, oil & gas exploration, oil & gas marketing and power generation and distribution sectors ended the session with most scrips in green. 

The week started on a bullish note as seasoned investors saw the drop in prices as an opportunity to invest more deeply into the market. The market increased by a total of 1565.63 points. 

Market closed on a tally of 50,120.93 points or a +3.22%. The market was in a much better position today compared to the last week. The session’s trajectory was all in ascending after an initial dip downward during the early hours of the morning.

Tuesday 

The market activity graph on Tuesday looked synonymous to an ECG graph. The market went up and down throughout the day but closed near to almost neutral at the end of the session. The market increased by 23.70 points or 0.05 percent. 

The market remained bearish for the most part, as 193 of 365 scrips traded ended up in red.

Banking trio; UBL, HBL, MCB ended the day in green in addition of LUCK whereas OGDC and ENGRO ended the session in red.

Wednesday 

The markets were relatively unmoved during today’s session continuing on Tuesday’s placid activity. The market added a total of 18.18 points or a 0.04percent increase. The rise in markets was insignificant for the last two days as Index added a total of 41.88 points, whereas Monday saw an upraise of 1656.63 points. 

Thursday 

KSE100 Index ended Thursdays trading session at 49,958.33 down 204.48 points or 0.41 percent. Commercial Banks contributed 83.90 points to the decline, followed by Cement 50 points, Fertilizer 34.90 and Oil and Gas Exploration Cos 32.6 points

Friday

Friday’s market session ended the week in decline. The market continues to stay placid and hold on to Monday’s gains. On Friday, markets shed a total of 431.41 points or a 0.86percent. The markets were unmoved as the activity was slower because of half day. The market was mostly in red as more than 64% of the KSE-100 listed companies were in negative.