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Karachi stock exchange -100 index gained 271 points amid International oil market recovery

Pakistan stock market saw a positive week as Karachi stock exchange-100 index climbed by 271 points during the week.The  international oil prices  made a decent recovery and this factor helped the stock market to close in the positive zone.

Domestic investors showed  considerable interest in the Pakistan stock market as compared to the foreign investors. Foreign investors were net sellers as they offloaded net equity of $ 334 million during the week.

The Karachi stock exchange-100 index started the week at 42999 points and ended the week at 43270  points.Currently Karachi stock exchange 100 index is trading at its highest level.The weekly share trading volume showed a drop of 2.31 % as compared to the last  week.The current week share trading volume was 2320 million shares as compared to the last week’s volume of 2375 million shares.

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The Karachi stock exchange-100 index started the week at positive zone after the reduction of the gas tariff reduction.The index rose by 61 points on the first day of the trading week.The Karachi stock exchange-100 index rose by 210 points during the next four days of the week.

Best and Worst Performers of the Week

Oil & Gas sector and fertilizer sector were main performers of the week.Oil & gas exploration sector benefited from the improvement in the international oil prices.International oil prices improved after the announcement of OPEC to reduce its production. OPEC has announced to decrease its production by 1.2 million barrels per day.After this announcement oil prices increased by 9.28 % to $ 49.44.barrels in a single day.The oil prices ended the week at $ 51.68/barrels.Oil & gas sector rose by 0.9 % at the Pakistan stock market.

Fertilizer sector recovery was mainly attributed to the increase in the urea prices and decrease in the gas prices.These two factors helped fertilizer sector in improving its position in the Pakistan stock market.

Oil & Gas marketing companies were worst performers at the stock market.This sector lost by 1.9 % during the week.

Future Outlook

Market analysts are upbeat about the future prospects of the Pakistan stock market.Panama case proceedings results can create some hurdles in the smooth progress of the market.The fluctuations in the international oil prices and Panama case proceedings will influence the investing behaviors of the stock traders in upcoming week.

Many political experts are expecting a disqualification of Prime Minister in the panama case.This news can really create short term uncertainty in the Pakistan stock market.

The Oil & Gas exploration sector is a good investment option for the short run.Upcoming week will be an ideal time for investing in this sector.After the announcement of OPEC,it is a great of chance of increase in the oil prices next week.It is strongly suggested to buy oil and gas based stocks in the next week.

Cement sector is also expected to be in a  positive zone next week. Nabeel Khusrhid of top line securities expects that cement sector may post 9 % sale growth in November.So this news that cement sector is a very good investment option for stock traders at Pakistan stock market.Investors can easily maximize their short term and long term returns by investing in Cement sector stocks.

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About Emaad Qureshi