Skip to main content

Pak MSCI Review: 12th Week

In general a mix performance this week.

The oil sector remained under pressure, with PPL declining by 5%, OGDC down by 4.6%, and SNGP by 3.5%.


Lucky Cement was also under pressure, declining by 3.6% on a weekly basis amidst a general decline in the cement sector.


In the banking sector, Habib Bank experienced the most significant decline at 7.6%, adjusted for payout.


Systems Ltd also experienced major declines, down by 3.46% for the week.


As for gainers, MCB and BAFL gained more than 3%, while FFC and Engro were up more than 2%. TRG also reversed its declining trend, rising by more than 1.6% for the week.




Popular posts from this blog

Brent Crude Logs Biggest Weekly Drop Since September on Weak Demand, Easing Tensions

Oil prices were under pressure this week. Brent crude oil futures fell 1.9% to $73 per barrel on Friday, registering the biggest weekly loss since early September, with prices dropping over 7%. The decline was attributed to weaker demand forecasts from OPEC and the International Energy Agency (IEA), slowing economic growth in China, and signs of easing geopolitical tensions in the Middle East. Both OPEC and the IEA revised down their demand forecasts for 2024 and 2025. China's refinery output declined for the sixth consecutive month, impacted by weak fuel demand and the growing adoption of electric vehicles (EVs). Meanwhile, U.S. crude oil production reached a new record last week. Although a drawdown in U.S. crude inventories and stronger-than-expected retail sales in September provided some support to oil prices, easing concerns about a broader conflict in the Middle East exerted additional downward pressure on the market.
 A Snapshot of Exchange Traded Funds at PSX

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.