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Weekly Market Roundup

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July 18, 2021 (MLN): The benchmark KSE-100 index witnessed range bound activity during the departed week as the index closed the week at 47,834 levels, managing to post a slight gain of 271 points over last week’s closing.

During the week index gained some momentum despite investors' concerns of rising covid cases and difficult geopolitical situation as $1bn Eurobond inflow, a record level of $29.4bn remittance inflow, 14.57% growth in Large Scale Manufacturing during 11MFY21, FATF amendment bill, and PSGP helped the market perform.

The index hit a high of 47,890 pts and a low of 47,388 pts during the week, respectively. Moreover, the average trading volumes fell by 4% WoW to settle at 467Mn shares, while the traded value decreased by 10% WoW to average at USD 96Mn.

Sector-wise Commercial Banks (82pts), Technology & Communication (75pts), iii) Cement (46pts), Textile Composite (37pts), and v) Inv.Banks/Inv.Cos./Securities Cos. (28pts) emerged as the best performing setors. Whereas the sectors that contributed negatively include Fertilizer (-28pts), Power Generation & Distribution (-16pts), Pharmaceuticals (-13pts), Oil & Gas Exploration Companies(-12pts), and Automobile Parts & Accessories (-7pts).

Scrip-wise SYS (79pts), LUCK (62pts), PSX (36pts), UNITY (33pts) and BAFL (30pts) endured the maximum gains. Whereas negative contribution came from POL (-15pts), EFERT (-15pts), KAPCO (-11pts), CHCC (-11pts), and ENGRO (-10pts).

Meanwhile, the KSE All Share Market Cap increased by a Rs31.28billion or 0.38% over the week, being recorded at Rs8.347trillion as compared to a Market Cap of Rs8.316 trillion recorded last week.

Flow-wise, foreigners turned net buyers during the week with a net inflow of $4.6mn, compared to a net outflow of $5.19mn during the previous week with Foreign Corporates doing the bulk of buying amounting to a net $2.67mn.

On the local side, Insurance and Banks turned out to be the net buyers with $12.7mn and $1.7mn, respectively while Individuals and Brokers squared their positions indicated by net sell of $9.98mn and $6.3mn, respectively.

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Posted on: 2021-07-18T15:49:00+05:00

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