The KSE-100 index gained 1,018 points during the departed week and closed 44,434-mark i.e. nearly 2.34% percent higher than the closing of the previous week.
According to a report by Aba Ali Habib Securities, the index gained a high of 44,874.86 points during the week on extension of construction relief and improved macro indicators. On the other hand, AKD Securities stated that a confluence of reported meeting between IPPs and the Government providing clarity on settlement mechanism of outstanding receivables boosted the benchmark index’s performance.
Moreover, the decline in inflation to 7.97% for the month of December, as well as an increase in exports by 18.3% tilted activity towards mainboards with KSE-100, the report added.
The benchmark index was lifted due to the performance of sectors such as Power Generation & Distribution, Oil & Gas Exploration Companies, Technology and Communication, and Oil & Gas Marketing Companies, as they contributed around 193, 182, 136, and 134 points respectively.
Company-wise, the scrips of HUBC, TRG, PPL, PSO and OGDC landed in the green zone, as they gained 153, 118, 100, 79, and 75 points, respectively.
Meanwhile, the KSE All Share Market Cap increased by $1.2 billion or 2.62% over the week, being recorded at $50.88 billion as compared to a Market Cap of $49.58 billion recorded last week.
Figures released by NCCPL showed that foreign investors dumped USD 46.22 million worth of stocks during the week with overseas Pakistanis doing the bulk of the selling @ USD 40.14 million. On the local front, Companies picked up USD 41.09 million worth of stocks. Excessive selling was witnessed locally as well as Banks/DFIs sold stocks worth USD32.1 million.
