Karachi stock exchange-100 index has seen a positive week as it climbed up 1077 points during the week.The positivity in the cement sector and fluctuations in the oil prices played an important role in the gains made by the Domestic stock market.
The foreign investors showed lots of interest in the market as they bought net equities of $ 3.6 million during the week.
Karachi stock exchange-100 index started the week at 45560 points and ended the week at 46637 points.
The experts at Money and Matters are expecting a mixed week at the Pakistan stock market.The negative macroeconomic indicators and fluctuations in the international oil prices can affect the Pakistan stock market.
The NAB cases against the former prime minister Nawaz Sharif have entered into the last and decisive phase.It is expected that he will be convicted in the final verdict of the NAB courts. Any decision against the Sharif family can create uncertainty in the market.
The macroeconomic conditions of the country are also not satisfactory.Pakistan must burrow from IMF to stabilize its currency and economy.It is expected that Pakistan may devalue its currency in next few weeks.The bad condition of the economy can force investors to take a backseat in the upcoming weeks.
The deteriorating US-Iran relations are affecting the oil prices.However, it is also a very good chance for the short-term traders to earn short-term returns from investing in the oil-based stocks.
Long-term traders must hold their investments in blue-chip stocks in growing sectors. It is expected that Karachi stock exchange-100 index may hover between the 44000-47000 points in the pre-election period.The pre-election period is very important for creating a profitable long-term portfolio.