KARACHI: The Pakistan Stock Exchange Monday opened slightly optimistic and added 44.22 points to reach 39917.10 points in early trading.
Last week, the overall activity suffered due to political uncertainty in the country and the local bourse closed at 39,872 level, down 1,419 points (3.44 percent) WoW. Both average traded volumes (down 28 percent WoW to 341 million shares/day) and value (down 22 percent WoW to $110 million/day) declined.
Out of the key sectors, Oil & Gas (-5.1 percent WoW), Cements (-2.8 percent WoW), Banks (-3.2 percent WoW) and Fertilizers (-2.5 percent WoW) were the major losers. Average daily volumes for the outgoing week slashed by 28 percent WoW to 341 million shares while average daily value decrease 22 percent WoW to Rs12 billion/$110 million over the week.
Textile composite was the only gainer over the week, up 0.9 percent. Top three losers over the outgoing week were auto assemblers, oil& gas exploration companies and commercial banks, declining 8 percent, 5 percent and 3 percent, respectively. Foreigners were the net buyers of $14 million during the week. Electricity and Cement sectors saw net buying of $7.7 million and $5.5 million, respectively, whereas the chemical sector saw net selling of $3.4 million.
