Weekly Market Roundup

The KSE-100 index lost 362.63 points during the departed week and closed 45,865-mark i.e. nearly 0.78% percent lower than the closing of the previous week.

According to a report by AKD Securities, ‘expectations surrounding FATF announcement, month-end phenomena, international markets’ performance, and possible improvement in diplomatic relations with India, defined market sentiments in the outgoing week’.

The benchmark index was let down by the performance of Oil & Gas Exploration Companies, which snatched around 107 points, followed by Commercial Banks, Oil & Gas Marketing Companies, and Textile Composite, which took away 105, 78, and 40 points, respectively. Nonetheless, Cement Sector provided some respite as it contributed around 119 points to the index.

Company-wise, the scrips of OGDC, PSO, NBP, NML, and COLG emerged as the worst-performing stocks for the week as they stripped the index off by 92, 42, 41, 37, and 27 points, respectively. On the other hand, the scrips of LUCK, TRG, MEBL, FFC, and ILP contributed around 160, 56, 28, 21, and 16 points, respectively.

Meanwhile, the KSE All Share Market Cap declined by $362.5 million or 0.69% over the week, being recorded at $51.9 billion as compared to a Market Cap of $52.27 billion recorded last week.

Figures released by NCCPL showed that foreign investors purchased USD 276.3 thousand worth of stocks during the week with Overseas Pakistanis doing the bulk of the buying @ USD 3.93 million. Foreign corporates, however, sold securities worth $3.81 million.

On the local front, Broker Proprietary Trading sold USD 10.73 million worth of stocks. Excessive purchasing was witnessed locally as well as Individual Investors and Insurance Companies bought stocks worth USD 6.66 million and USD 4.72 million, respectively.

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Posted on: 2021-02-28T14:03:00+05:00

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