Meanwhile, market participation declined 7.2%WoW to 606
million shares from 653 million shares a week ago.
Pakistan officials are in discussions with US over the finer
details of a trade deal, along with another visit of Field Martial yielding
positive outcome, with US designating BLA as a terrorist organization, a
long-standing request by Pakistan.
Passenger car and LCV sales rose 28%YoY, supported by the
low base of same period last year amid last year’s plant shutdowns.
Other major news flow during the week included: 1) 3rd IMF
tranche of US$1 billion anticipated, 2) Saudi crown prince invites Prime Minister
Shehbaz Sharif to investment conference, 3) GoP presses China on Gwadar plan,
4) Debt re-profiling with Chinese IPPs, and 5) OGRA drafts new petroleum rules
to resolve supply disputes.
Leasing companies, Textile spinning, and Auto parts were
amongst the top performing sectors, while Woollen, Jute, and OMC were among the
laggards.
Major selling was recorded by Banks and other organizations
with a net sell of US$14 million. Mutual funds absorbed most of the selling
with a net buy of US$15.3 million.
Top performing scrips of the week were: AIRLINK, THALL, YOUW,
FABL, and FHAM, while the laggards included: UNITY, GADT, PSX, BNWM, and PPL.
According to AKD Securities, PSX is expected to remain
positive in the coming weeks, with further developments over circular debt
expected to drive the market along with upcoming corporate results remaining in
the limelight.
The benchmark index is anticipated to remain on upward
trajectory, with a target of 165,215 points by end December 2025, primarily
driven by strong earnings in Fertilizers, sustained ROEs in Banks, and
improving cash flows of E&Ps and OMCs, benefiting from falling interest
rates and economic stability.
The top picks of the brokerage house include: OGDC, PPL,
PSO, FFC, ENGROH, MCB, FCCL, KOHC, INDU, and SYS.
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