By Hamid Mahmood ISLAMABAD, April 12 (INP-WealthPK): The stock market saw a tumultuous week (April 4-8) as it shed 1,250 points due to political uncertainty. The Pakistani rupee also fell to an all-time low of 188 against the US dollar as foreign exchange reserves declined and political instability persisted. This forced the State Bank of Pakistan to jack up the policy rate to record 12.25%, reports WealthPK. Nonetheless, the market welcomed a sharp resurgence of investor confidence, owing to the clarity provided by the Supreme Court's ruling restoring the National Assembly, as well as lower oil prices adding to the gains. According to WealthPK research, the Pakistan Stock Exchange (PSX) finished at 44,444.58 points, down by 707.53 points or 1.56% on Friday. On a weekly basis, the All-Share Index dropped 486.26 points, the KSE-30 Index dropped 224.16 points, and the KMI-30 Index dropped 1,521.46 points, respectively.

Index	Week Start	Week-End	Change	% Δ
KSE 100 Index	45,152.11	44,444.58	-707.53	-1.56699211
All Shares Index	30,855.54	30,369.28	-486.26	-1.57592445
KSE 30 Index	17,238.29	17,014.13	-224.16	-1.300361
KMI 30 Index	73,239.27	71,717.81	-1,521.46	-2.0773828

Source: PSX/WealthPK Research Stocks fell over 3% in a wide sell-off on Monday (April 4) as simmering political tensions frightened investors and heightened fears about the economy's already shaky recovery. After hitting a high of 45,152.11 points and a low of 43,821.31 points throughout the session, the benchmark KSE-100 Shares Index fell by 1,250.06 points, or 2.77 %, to finish at 43,902.05 points. Stocks hardly moved on Tuesday (April 5) after bouncing up and down due to a lack of political clarity that prompted investors to reduce their exposure to areas where they felt insecure, while others generally sat on the sidelines as the rupee touched record lows against the greenback. After posting the day’s high and low of 44,289.56 and 43,782.27 points, the benchmark KSE-100 Shares Index gained 26.03 points, or 0.06 %, to conclude the day at 43,928.08 points. Despite another rupee drop, equities broke out of a two-day slump on Wednesday (April 6) as investors chose to ignore political noise and harvest value stocks, with third-tier names staying in high demand. After touching a high and low of 44,377.60 and 43,928.08 points throughout the session, the KSE-100 Shares Index gained 183.02 points, or 0.42%, to end at 44,111.10 points. Stocks fell even more on Thursday (April 7) as economic worries grew as the rupee plummeted to fresh all-time lows amid a prolonged constitutional crisis. The benchmark KSE-100 Shares Index fell 324.27 points or 0.74 % to end at 43,789.83 points. Stocks made a strong recovery on Friday (April 8) in response to the Supreme Court's decision to reinstate parliament, which also helped balance the immediate impact of a large interest rate rise on Thursday. After ranging between 44,507.62 and 43,786.83 points throughout the day, the benchmark KSE-100 Shares Index closed higher by 657.75 points, or 1.50%, to 44,444.58 points. [caption id="attachment_65934" align="aligncenter" width="696"] Source: PSX/WealthPK Research[/caption] Last week (April 4-8), the Foreign Investors Portfolio Investment (FIPI) realised a profit of $3.78 million after selling its shares. Mutual funds sold their shares for $12.40 million, the greatest amount of money made during the week under review, followed by foreign corporates with $5.59 million and insurance companies with $4.59 million. Individuals bought up to $14.83 million worth of stocks, followed by banks buying $4.69 million worth of stocks. Overseas Pakistanis bought shares valued at $1.79 million. Financial analysts predict that the stock market will show strong indications of recovery during the coming weeks as clarity on the political front appeared certain. Furthermore, a rollover of Chinese loans of $2.3 billion is expected, which will help preserve the declining reserves. Further, a drop in international oil prices owing to a slowdown in Chinese demand and the International Energy Agency's emergency crude stockpile releases, is projected to push the market into the green zone. The banking, petroleum, automobile and cement sectors are projected to be among the most popular stocks for the next week.