Weekly recap: KSE-100 under pressure, retreats 2%

The KSE-100 Index came under pressure right from the start of the week, kicking off with a nearly 3% fall on Monday before retreating further. However, it saw its best day of 2022 so far on Thursday, which helped reduce the weekly loss to just over 2%.

The conflict in Ukraine continued to push oil prices upwards with Brent touching 14-year high of $130 per barrel during the week, which put stocks under pressure.

This recent boost in oil prices was brought on by US and EU discussions regarding possibilities of banning Russian oil and energy imports. On the local front, submission of a no-confidence motion against the PM also added to uncertainty.

However, the downward movement was broken mid-week as the market reacted positively to the State Bank of Pakistan’s decision to keep policy rate unchanged at 9.75% and oil prices retreated from decades high rates of $130 per barrel and settled around $113 per barrel by end of the week.

During the week, KSE-100 lost 898.02 points or 2.02%, closing at 43,653.33 points. Total market trading volume fell by around 8 million shares or 0.75%.

On a WoW basis, Technology and Communication sector remained the most active by volume with around 248 million shares followed by Chemicals (93 million shares), Food & Personal Care (92.9 million) and Cement (92.6 million).

KSE-100 ends week with 0.46% loss, volume reduces significantly

Unity Foods, TRG and Maple Leaf Cement were market leaders by volume among KSE-100 companies on WoW basis. Among these three, Maple Leaf went up by 4.68% while both Unity Foods and TRG went down by 11.93% and 1.51%, respectively, on WoW basis.

KSE-100 Volume Leaders

Unity Foods Ltd 45,225,263 -11.93% (-3.24)

TRG Pakistan 43,398,992 -1.51% (-1.19)

Maple Leaf 29,799,863 4.68% (1.53)

Pak Elektron 18,956,500 -10.83% (-1.95)

Cnergyico PK 18,786,016 -6.73% (-0.37)

KSE-100 Top Gainers

Systems Limited 11.43% (73.16) 2,352,433

National Foods 9.46% (13.33) 1,720,200

Shifa Int. Hospitals 6.11% (11.25) 15,900

Thal Limited 5.06% (17.81) 28,700

Maple Leaf 4.68% (1.53) 29,799,863

KSE-100 Top Losers

Millat Tractors -19.64% (-195.07) 254,368

Kohinoor Textile -13.31% (-8.61) 1,310,000

Unity Foods Ltd -11.93% (-3.24) 45,225,263

National Refinery -11.64% (-26.77) 2,556,119

Pak Elektron -10.83% (-1.95) 18,956,500