Pakistan stocks ended the week on a positive note with KSE100 index gaining 1.3 per cent to close at 33,080 points. The number of shares traded daily averaged five per cent down on 167 million, while the traded value depleted 13pc to Rs7.9 billion or $75 million Week-on-Week (WoW).
Sector-wise, general industrials, pharma, bio-tech, travel and leisure gained the most by growing from 4.1 to 7.0pc. The week''s major losers were from chemical and food sectors, which lost 2.6 and 2.0pc to bears. Foreign portfolio investment ended in the red, settling on net sale of $7.6 million. Major buying of $6.5m was seen in cement sector whereas net selling of $6.6m was seen in chemicals.
Analysts at Topline Research said triggers were absent in the beginning of the week at Pakistan bourse. "But uptick in international oil prices and interest in banking stocks boded well for the market," they viewed.
The index landed in the green despite that profit-taking was the trend.
"Persistent with the momentum set in motion over the past few weeks, the KSE100 index finished the week with a return of 1.3pc," said AHL analysts.
Furthermore, they said, Pakistan frontier market (FM) index (0.2pc) and Emerging Market (EM) index (2pc) held green flags, as well.
In tandem, they said, major global economies yielded a similar exuberance with the US FED adapting a more dovish stance parallel to the Bank of England''s status quo monetary policy position.
Meanwhile, commodity prices picked some pace with oil, backed by the weak US inventory count, chained with excitement over the April''16 OPEC/Non-OPEC meeting and a rebound in iron and steel amid commencement of peak construction season in China.
"The all-purpose optimism in offshore markets/commodities translated well into the equity bourse at home," said the market observers.
Major highlights of the week included trade deficit expanding 4.2pc to $15.1bn in 8MFY16, Foreign Direct Investment growing 4.8pc in 8MFY16, Economic Co-ordination Committee approving auto policy, Oil (Arab light) prices edging up by 3.34pc since last Friday, government announcing to issue Rs 80bn Islamic bonds during the month and NIB and MCB banks talking a possible merger.
"With State Bank of Pakistan (SBP) set to announce the upcoming monetary policy by next weekend, we expect it to be a non-event for the market," said AHL researchers.
Going forward, they said, the market shall be dictated by short-term triggers. "However, foreign selling and unpredictable commodity prices remain risks to the index performance".
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