July 25, 2021 (MLN): The benchmark KSE-100 index ended the short trading week with a meager loss of 41 points, WoW to settle at 47,793 points. The trading activity remained dull due to the Eid holidays andrising COVID cases as the delta variant is spreading quickly.
Apart from this, the worsening situation in Afghanistan and the closure of borders, rising current account deficit, depreciation of PKR against the greenback, and expected increase in inflationary readings in upcoming months due to drastic increase in petroleum product prices kept investors’ sentiments in check.
Sector -wise, Cements (-49pts), Food and Personal care (-19pts), Refineries (-14pts), Technology and Communication (-12pts), and Textile Composite (-11pts) emerged as the worst performing sectors. Scrip-wise major losers were TRG (-30pts), ENGRO (-25pts), PSO (-14pts), LUCK (-12pts), and HBL (-11pts).
Meanwhile, the KSE All Share Market Cap increased by a Rs16.15billion or 0.19% over the week, being recorded at Rs8.36trillion as compared to a Market Cap of Rs8.34 trillion recorded last week.
Flow-wise, foreigners turned net sellers during the week with a net outflow of $21mn, compared to a net inflow of $4.6mn during the previous week with Foreign Corporates doing the bulk of buying amounting to a net $25mn.
On the local side, Individuals and Companies turned out to be the net buyers with $9mn and $5.6mn, respectively.
