KARACHI: The Pakistan Stock Exchange started new week on positive note after recouping 454 points to regain 40,000 mark and reached 40301 points level in early trading on Monday.
Last week the PSX benchmark KSE-100 index closed below 40,000 after almost a year by shedding another 1,466 points this week (-3.5 percent WoW), taking losses in YTD 2017 to an astonishing 17 percent.
The overall activity remained abysmal as average traded volumes and traded value clocked-in at 146 million shares per day (+4.1 percent WoW) and $59 million per day (-16.5 percent WoW), respectively. Local Mutual Funds ($30m), Individuals ($8m) and Brokers ($6m) were key net sellers during the week, while foreigners were net buyers of $39 million.
The majority of the investors kept away from the market as their battered confidence failed to find any support as domestic politics and economy continues to attract headlines for all the wrong reasons.
During the week, top 10 worst performers as per KSE-100 index points were LUCK (-8 percent WoW), HBL (-3 percent), ENGRO (-4 percent), DAWH (-8 percent), SNGP (-8 percent), MARI (-9 percent), HUBC (-4 percent), PSO (-5 percent xDxB), MLCF (-14 percent), and SEARL (-11 percent), with cumulative negative contribution of 659 points. While only 12 of the KSE-100 index cripts managed to post gains, accumulating 184 points out of which POL added a solid 131 points.