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KARACHI: Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on November 04, 2022 due to fresh buying on available attractive low levels.

The benchmark KSE-100 index increased by 715.97 points on week-on-week basis and closed at 41,856.31 points.

Trading activities slightly improved as average daily volumes on ready counter increased by 7.0 percent to 228.80 million shares as compared to previous week’s average of 213.78 million shares however average daily traded value on ready counter declined by 10.6 percent to Rs 5.55 billion against previous week’s Rs 6.21 billion.

BRIndex100 gained 90.04 points during this week to close at 4,171.03 points with average daily turnover of 167.693 million shares.

BRIndex30 surged by 516.05 points on week-on-week basis to close at 15,415.15 with average daily trading volumes of 115.091 million shares.

Total market capitalization increased by Rs 60 billion during this week to Rs 6.733 trillion.

“The bourse witnessed an overall volatile week as the political instability raged on, squeezing investor confidence and overall volumes alongside it”, an analyst at AKD Securities said.

Company-wise, amongst main boards, BNWM, TRG and SNGP companies were amongst the top performers, up 13.8 percent/ 9.3 percent/ 7.7 percent respectively. On the other hand, AICL, Nestle and IGIHL was amongst the worst performers with a declines of 5.6 percent/4.2 percent/4.0 percent on WoW.

Flow wise, major net selling was recorded by Insurance companies and Mutual funds (net sell: $4.63million). On the other hand, Individuals absorbed most of the selling with net buy of $4.68 million.

Sector wise top performers were woollen (up 13.8 percent), tobacco (up 6.0 percent), OMCs (up 5.7 percent), TECH and COMM (up 5.0 percent) and SUGAR (up 4.0 percent), while top laggards were vanaspati (down 3.9 percent), FOOD and PERSONAL CARE (down 2.1 percent), leasing co. (down 2.0 percent), inv banks/INV. cos. (down 1.8 percent) and COMM. BANKS (down 1.0 percent).

An analyst at JS Global Capital said that the market followed an upward trend during the week before closing on a negative note following the attack on ex PM Imran Khan. The KSE-100 index closed the week at 41,856 points, up 1.7 percent on WoW.

Tech (up 5.0 percent) and OMCs (up 6.0 percent) sectors were among the key out performers whereas Banks (down 1.0 percent) and the Food (down 2.0 percent) sectors remained primary underperformers during the week.

Copyright Business Recorder, 2022

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