August 22, 2021 (MLN): This week's trading activity remained sluggish due to reduced working days as the KSE100 closed the week at the level of 47,600, a gain of 430 points over last week’s closing.
The week commenced on a negative note, as the Taliban-led Afghanistan has been the concerning factor for the investors in the international markets where Asian markets remained net sellers during the outgoing week. Regardless of the better financial results of LOTCHEM and PRL for the year FY21, investors remained pessimist. Further, the rise in RDA inflows to $2bn in 11 months along with the historical high LSMI numbers for FY21, also failed to lift investors' sentiments.
However, trading activity gathered some pace and the market recuperate some losses during the week on the back of peaceful takeover Kabul falls, decline in international commodity prices, reopening of borders with Afghanistan as a result of which trading activity witnessed a drastic jump and a slowdown in Covid-19 infection ratio.
From a sector-specific lens, positive contributions came from Cements (151pts), Commercial Banks (86pts), Power Generation and Distribution (72pts), Oil and Gas Marketing Companies (65pts), and Fertilizer (41pts). Whereas the sectors that contributed negatively included Oil & Gas Exploration Companies (-35pts), Miscellaneous (-14pts), Food & Personal Care (-9pts), Insurance (-8pts), and Automobile Parts &Accessories (-4pts).
Scrip-wise major gainers were MEBL (73pts), HUBC (62pts), PSO (57pts), DGKC (40pts), and MLCF (36pts). Whereas major laggards were PPL (-18pts), KTML (-16pts), NESTLE (-11pts), PSEL (-11pts) and MARI (-10pts).
Meanwhile, the KSE All Share Market Cap increased by Rs52.18 billion or 0.63% over the week, being recorded at Rs8.3trillion as compared to a Market Cap of Rs8.26tn recorded last week.
Flow-wise, foreign investors emerged as net sellers with an outflow of $10.82mn against a net buy of $3.95mn last week. The major selling was done by foreign corporates amounting to a net $10.8mn.
On the local side, major buying was reported by Local Companies ($7.78mn) and Mutual Funds ($5.86mn). Other significant transactions included $1.33mn worth of stocks sold by Banks/Dfi.
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