Saturday, August 13, 2022
HomeEquityWeekly Market Roundup

Weekly Market Roundup

Market Roundup

The KSE-100 Index gained nearly 1,399.9 points during the departed week and settled at 42,207-mark, i.e. up by 3.43% as compared to the previous week’s closing of 40,807 points.

During the week, the marker participation also invigorated as the daily average traded volume in bourse and its value surged by 57% and 69% WoW respectively.

The market sentiments during the week revived as national CPI numbers eased down to 8.35% in Nov’20 from 8.91% in Oct’20.

According to the report by Aba Ali Habib Securities, investors’ confidence was further cemented on improved export numbers and government’s initiative to do away with peak/off-peak tariffs mechanism to support SME and export-oriented businesses. Positive sentiments prevailed across all heavy-weighted sectors on improved oil sales and revision in cement/steel prices.

Coronavirus tally remained on higher side during the week, however, uncertainty was diffused after federal government’s announced to start mass vaccination by April next, the report added.

Commercial Banks emerged as the top gainers during the week as it added 248 points to the index followed by Technology & Communication (+148 pts), Cement (+137 pts), Power Generation & Distribution  Companies (+136 pts) and Oil & Gas Exploration Companies (+130 pts).

Company wise, the scrips of HUBC (+132 pts), TRG (+111 pts), MCB (+81 pts), LUCK (+73 pts) and UBL (+59 pts) benefited the most.

Meanwhile, the KSE All Share Market Cap increased by Rs.210.3 billion or 2.80% over the week, being recorded at Rs. 7.729 trillion as compared to a Market Cap of Rs. 7.5 trillion recorded last week.

Figures released by NCCPL showed that foreigners remained net sellers during the week as they sold net USD 30 million worth of stocks during the week with foreign corporates doing the bulk of selling amounting to net USD 36 million.

On the local front, individual investors purchased net USD 20.82 million worth of stocks, followed by USD 8 million worth of stocks bought by Brokers and USD 7.79 million by Insurance Companies. Other significant transactions included USD 7.1 million and USD 4.73 million worth of stocks sold by Companies and Banks/DFI respectively.

 Copyright Mettis Link News

Posted on: 2020-12-06T15:52:00+05:00


Previous articleWeekly Economic Roundup
Next articleWeekly News Roundup
- Advertisment -

Most Popular