Weekly Market Roundup

February 23, 2025 (MLN): Pakistan equities started the week on a negative note but later positive developments on the economic side strengthened investor confidence which boosted buying activity.

Thus the benchmark KSE-100 index gained 715.64 points, up by 0.64% to close at 112,800.93 compared to the previous week’s close of 112,085.29.

Intraday swings were significant, with the index reached a high of 114,444.01 (+1,643.08 points) and a low of 111,513.66 (-1,287.27 points).

Market cap

The KSE-100 market capitalization stood at Rs3.46 trillion, up 0.64% from the previous week’s Rs3.44tr. In USD terms, the market cap was recorded at $12.41 billion, compared to $12.34bn in the prior week, reflecting a surge of $62.81 million or 0.51%.

This week, the index return in USD terms remained positive 0.51%, compared to last week’s return of 1.53%.

On the economic front, breaking a 3-month streak of posting surplus consecutively, the current account recorded deficit of $420m in January 2025.

The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs258.81bn.

The book-building process of Barkat Frisian Agro Limited’ Initial Public Offer (IPO) has concluded with an oversubscription of 16.25 times, the historic development at PSX.

Furthermore, the Central Bank also auctioned floating-rate Pakistan Investment Bonds, raising Rs431.3bn through 5-year and 10-year semiannual bonds against a target of Rs350bn.

In a notable development, Prime Minister Shehbaz Sharif met the Executive Directors of the World Bank, who arrived in Pakistan to review the implementation of $40 billion funding.

Moreover, the International Monetary Fund (IMF) staff team is scheduled to visit Pakistan in early to mid-March for discussions around the first review under Pakistan’s Extended Fund Facility-supported program.

The positive economic cues helped stabilize investor sentiment, pushing the KSE-100 index’s fiscal year-to-date returns to 43.8%. However, on CYTD return stood at -2%.

Top Index Movers

During the week, Cement, fertilizers, and Automobile Assemblers contributed 549.03, 309.40, and 80.56 points to the index.

On the flip side, Commercial Banks, Oil & Gas Exploration Companies, and Pharmaceuticals dented the index by -193.80, -169.39, and -154.68 points, respectively.

Among individual stocks, FFC added 166.56 points to the index while LUCK, FCCL, and EFERT contributed to the index by 160.46, 152.67, and 118.77, respectively.

Conversely, UBL, MARI, and ABOT, eroded -215.87, -136.07, and -130.05 points, respectively.

FIPI/LIPI

This week, Foreign Investors remained net sellers, offloading the equities worth $5.13m.

Among them, Overseas Pakistanis led the selling activity worth $3.34m while Foreign Corporates sold securities worth $1.71m.

On the other hand, this week, local Investors were net buyers, purchasing equities worth $5.13m.

Insurance Companies and Individuals bought securities worth $5.82m and $4.41m, respectively.

However, Mutual Funds sold securities worth $8.64m.

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