September 5, 2021 (MLN): This week the benchmark KSE-100 index lost nearly 179 points and closed at 46,957 level.
The major events that impacted market sentiments during the week include S&P’s reaffirmation of Pakistan’s long and short-term sovereign credit at B- and B respectively with a stable outlook, CPI inflation for Aug’21 clocked in at 8.4% YoY, and SBP’s reserves hitting an all-time high of $20.15bn on account of SDR amount of $2.75bn coming in from IMF last week.
From a sector-specific lens, negative contributions came from Commercial Banks (-301pts), Cement (-100pts), Automobile Assembler (-77pts), Textile Composite (-23pts), and Oil & Gas Marketing Companies (-19pts). Whereas the sectors that contributed positively included Technology & Communication (176pts), Power Generation & Distribution (76pts), Refinery (51pts), Chemical (26pts), and Fertilizer (19pts).
Scrip-wise major laggards were HBL (-100pts), MEBL (-80pts), UBL (-63pts), MCB (-48pts), and MLCF (-48pts). Whereas major gainers were SYS (141pts), HUBC (82pts), TRG (33pts), EPCL (28pts) and NRL (19pts).
Meanwhile, the KSE All Share Market Cap decreased by Rs9.83billion or 0.12% over the week, being recorded at Rs8.24trillion as compared to a Market Cap of Rs8.25tn recorded last week.
Flow-wise, foreign investors continued to be net sellers with an outflow of $5.87mn against a net sale of $4.38mn last week. The major selling was done by foreign corporates amounting to a net $6.39mn.
On the local side, major buying was reported by Individuals ($5mn) and Insurance Companies ($3.95mn). Other significant transactions included $3.84mn worth of stocks sold by Mutual Funds.
