September 8, 2019 (MLN): The benchmark KSE 100 index gained 795 points or 2.68% during the departed week which witnessed mixed activity on the trading floors.
August 2019’s Consumer Price Inflation (CPI) figure of 10.5% under the new base year 2015 – 2016, as well as the expectation of a stable interest rate announcement contributed towards uplifting the index which had been through a bumpy ride in the past few weeks.
On the other hand, anticipation regarding Financial Action Task Force (FATF)’s meeting which is scheduled to take place today, prevented the index from making larger gains as pessimism loomed the trading floors.
The index closed the last session at 30,467 points against the previous week’s closing value of 29,672 points. During this time, Exploration and Production Sector, Commercial Banks, Power Sector as well as Fertilizer Sector helped the index gain momentum as they collectively contributed 662 points.
In particular, the scrips of HBL, OGDC, PPL, HUBC and POL collectively contributed 499 points to the benchmark index.
Meanwhile, the KSE All Share Market Cap rose by Rs.105.7 billion or 1.74% over the week, being recorded at Rs.6.2 trillion compared to a Market Cap of Rs.6 trillion recorded last week.
This week, the local investors leaned towards a purchase of securities by buying a net worth of Rs.850 million shares. Amongst them, Individual investors emerged as the largest net buyers as they bought Rs.977 million worth of securities.
On the other hand, mutual funds continued to lead a sell-off as they sold securities worth Rs.498 million during this time.
Foreign corporates in the meanwhile, sold a net of Rs.808 million worth of shares during the departed week.
Copyright Mettis Link News