Pakistan stock market saw a mixed week as Karachi stock exchange-100 index climbed by 49.46 points during the week. Profit taking and fluctuations in the oil prices affected behavior of the investors working at Pakistan stock market.
Karachi stock exchange-100 index started the week at 46584 points and ended the week at 46633 points.The weekly share trading volume showed increased by 17.5 % as compared to the last week.The weekly share trading volume was 1682.6 million shares as compared to the last week’s volume of 1432 million shares.
Local Institutions showed special interest in the Pakistan stock market. Foreign investors remained net sellers throughout the week.They offloaded net equities of $ 46 million during the week.
Source : Express Tribune
Karachi stock exchange-100 index started the week on a positive note as index climbed by 354 points during the first trading day.The positive buying in the financial sector helped index climb upwards.Karachi stock exchange-100 index lost collective 597 points during the last four trading days of the week.The profit taking by investors and negative trend in the international oil prices were reasons for negativity in the Pakistan stock market.
Best and Worst Performing Sectors
Financial sector was the best performing sector of the week.The commercial banks such as Habib Bank ,Bank alfalah, Habib Metro and Bank -Al-Habib performed exceptionally well during the week. Habib Bank Limited , Habib Metro Bank , Bank AL Habib Limited and Bank Alfalah added 159.7 points ,44.6 points ,36.2 points and 34.2 points to the Karachi stock exchange -100 index during the week.They were top index movers during the week. Textile sector performed very well as November 2016 exports rose by 9.71% as compared to last year November.
Market analysts are expecting a positive sentiment in the upcoming week.Domestic political environment and fluctuations in the oil prices can create instability in the Pakistan stock market. Corporate results can also play an important role in affecting the trading behaviors of the investors. PPP has decided to hold its power show on 27th December 2016.They have announced start a street movement against the ruling PML-N after 27 December.
Oil and gas exploration sector is a very good investment option for the stock market investors. The OPEC members have announced to decrease their daily oil production by 1.2 million barrels.OPEC will start decreasing its production from 1st January 2017.So,investors are expecting more increase in oil prices from the start of the next year.They are also expecting huge fluctuations in the oil prices as Libya also announced to bring back oil supply of 270000 barrels/day in next 3 months.So this means that oil based stocks are very good investment option for the short run.In the long run day trading strategies can be very helpful for the investors.