June 20, 2021 (MLN): The benchmark KSE-100 index ended the week nearly flat at the 48,238 level, losing 66 points or 0.14% WoW.
The index started the week on a cheerful note as investors welcomed the FY22 budget. However, the index turned red later in a week as investors resorted to profit-taking due to ongoing IMF discussions, upcoming FATF review, and rupee instability which kept the market under pressure.
Sector-wise negative contributions came from, Commercial Bank (-176 pts), Fertilizer (-81 pts), Food & Personal Care Products (-52 pts), Automobile Assembler (-34 pts), and Miscellaneous (31 pts). Meanwhile, the sectors that contributed positively include Oil & Gas Exploration Companies (156 pts), Cement (74 pts), Power Generation & Distribution (38 pts), Engineering (30 pts), and Tobacco (25 pts).
Scrip-wise major losers were HBL (-87 pts), UNITY (-56 pts), TRG (-47 pts), UBL (-40 pts), and EFERT (-34 pts). While positive contributors included OGDC (99 pts), POL (64 pts), HUBC (46 pts), LUCK (36 pts) and SYS (28 pts).
Meanwhile, the KSE All Share Market Cap increased by Rs36.3billion or 0.43% over the week, being recorded at Rs8.394trillion as compared to a Market Cap of Rs8.358trillion recorded last week.
Figures released by NCCPL showed that foreigners emerged as net sellers this week, as they sold a net $6.76mn worth of stocks against a net sale of $7.467mn last week. The bulk of selling amounting to $4.717mn was done by Foreign Corporates.
On the domestic front, investors remained net buyers with major buying were reported by Individual investors ($21.43mn), and Mutual Funds ($10.85mn).
