Sector-wise negative contributions came in banks (-167 points), oil and gas exploration companies (-163 points), power generation and distribution (-143 points), cement (-113 points), and oil and gas marketing (-101 points).
Whereas sectors which contributed positively were technology and cement (+107 points), ii) automobile parts and accessories (+20 points), and chemical (+15 points).
Scrip-wise major losers were Hubco (-124 points), Lucky Cement (-122 points), Pakistan Petroleum (-75 points), Oil and Gas Development Company (-60 points) and Pakistan State Oil (-59 points)
Meanwhile, scrip-wise major gainers were Systems Limited (+148 points), National Foods (+23 points), and Thal Limited (+20 points).
Outlook for next week
A report from Arif Habib Limited predicted: “We expect the market to remain range-bound in the upcoming week.”
With the government and Opposition seeking allies before the no-confidence motion against Prime Minister Imran Khan, “the market is expected to remain jittery”, it said.
The brokerage house noted: “On the international front, any de-escalation by Russia and successful negotiation with the West may push the commodity prices (especially oil and coal prices) down, which will improve the sentiment of the local bourse.”
“The KSE-100 is currently trading at a PER of 4.8x (2022) compared to the Asia-Pacific regional average of 13.2x while offering a dividend yield of 9.0% versus 2.4% offered by the region,” the brokerage house stated.
