Weekly Market Roundup

September 27, 2020 (MLN): The KSE-100 index lost around 803 points during the departed week and closed at 41,701-mark i.e. nearly 1.89% percent lower than the closing of the previous week.

According to AKD Securities, happenings over the political front (leading opposition parties taking tough stance on establishment in the APC) together with rollover week pressure and rising COVID case count strengthened bears in the outgoing week.

E&Ps, Commercial Banks, Power Generation, and Cement emerged as the worst performing sectors during the week, as they snatched 271, 185, 80, and 71 points respectively from the benchmark index.

Company-wise, the scrips of OGDC, PPL, UBL, HUBC, and TRG emerged as the top losing scrips as they snatched 120, 95, 76, 70 and 52 points from the index.

Figures released by NCCPL showed that foreign investors sold USD 10.49 million worth of stocks during the week with foreign corporates doing the bulk of selling.

On the local front, insurance companies purchased USD 9.08 million worth of stocks, followed by USD 7.01 million worth of stocks bought by local companies. Other significant transactions included USD 7.6 and USD 4.01 million worth of stocks sold by Mutual Funds and Broker Proprietary Trading, respectively.

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