Karachi: The KSE-100 Index closed the week with a slight increase of 0.4%, reaching 78,570 points, despite an initially turbulent start influenced by global market concerns triggered by Japan’s interest rate hike.

According to AKD Securities Limited, the trading week saw mixed momentum with a strong finish, thanks to a significant payout from Mari Petroleum (MARI) which bolstered the energy and production sector, rejuvenating investor sentiment. This was complemented by Pakistan’s adherence to IMF conditions through successful debt rollovers, ahead of a crucial meeting expected later this month. The week also recorded a noteworthy dip in T-bill yields, prompting a decline in KIBOR rates to an 18-month low, reflecting an optimistic investor outlook towards upcoming monetary policy adjustments.

The financial landscape was further highlighted by a robust inflow of remittances totaling US$3.0 billion in July 2024, marking a 45% increase year-over-year, which supports a stable outlook for Pakistan’s current account. Despite challenges in the energy sector, governmental efforts to phase out inefficient power plants and address fertilizer policy concerns indicate proactive management of sectoral issues. Market participation notably increased, with average daily trading volumes escalating to 493 million shares.

On the corporate front, sectors such as Woolen, Textile Weaving, and Textile Spinning outperformed, while Vanaspati, Property, and Fertilizer sectors lagged. Notable company performances included gains in YOUW and BNWM, whereas PIBTL and AKBL saw declines.

Looking forward, the market anticipates continued positive momentum, driven by global market stabilization and favorable macroeconomic indicators, with sectors likely to benefit from monetary easing and structural reforms remaining focal points.