KSE 100 share index finally recorded a gain of 2% after a loss of 7.8% with 49,526 points on June 9, 2017.
The week started with a gain of 1,565 points but then the rest of the week remained quiet. Most of the gains in index were contributed by steep discounts available in the MSCI large and mid-cap stocks.
The regular volumes went down from 295 million shares to 239 million which is a 19% loss. The dominance on stock market was by Engro Polymer and Chemicals, Dost Steels, Dewan Farooque Spinning, Azgard Nine and Aisha Steel Mills. They together accounted up to 28% of the total trade volumes.
260 points were added by Lucky Cement, United Bank and Engro while Mari Petroleum and Bank Al Habib together added 85 points to the index.
The companies that brought the index down by 107.64 points are Oil and Gas Development Company, Kohinoor Textile Mills, Hub Power, Nishat Mills and Sui Northern Gas Pipelines
The sector that performed well throughout the week was of automobile assemblers gaining +4% every week and on second number it was pharmaceuticals with +3% gains.
Sectors that didn’t do well were cement and oil and gas exploration with -2% loss each. Tension between Saudia and Qatar, resulted in decline in world’s crude prices thus creating problems in oil sector.
The main performer in terms of Stocks was Engro Polymer with +18% gain.
Foreign investors turned net buyers of $14 million through the week. Though the issue was that traded volume came down to 239 million shares per day which was quite a loss.