By Hamid Mahmood ISLAMABAD, March 24 (INP-WealthPK): The stock exchange started last week (March 14-18) on a sour note, owing to investor fears over Russia-Ukraine conflict and ongoing political difficulties in Pakistan. Nonetheless, net purchasing was seen in the middle of the week as investors hailed a drop in global oil prices as well as peace negotiations between Russia and Ukraine. Following a drop in coal prices, the cement industry, in particular, has stayed in the spotlight. However, as the week drew to a close, the market was unable to maintain gains as the rupee fell to a new low, passing the 180 mark, and oil prices resumed their upward trend. According to WealthPK research, the market settled at 43,029.97 points, losing 623.36 points (down by 1.42%). All-share index (494.40 points), KSE-30 index (543.02 points), and KMI-30 index (1505.29 points) also faced losses on weakly basis.

Index	Week Start	Week-End	Change	% Δ
KSE-100 Index	43,653.33	43,029.97	-623.36	-1.427978118
All Shares Index	29,972.80	29,478.40	-494.40	-1.649495543
KSE-30 Index	16,976.08	16,434.06	-542.02	-3.192845463
KMI-30 Index	70,645.01	69,139.72	-1,505.29	-2.130780362

Source: PSX/ WealthPK research On 14th March, stocks bowed under selling pressure, with participation falling to a 20-month low, owing to worries of a political implosion as the opposition is expected to escalate its attack on the administration in the coming days. After swinging between a high of 43,767.77 and a low of 43,324.83 points during intraday trade, the benchmark KSE-100 share index fell 286.44 points, or 0.66%, to end at 43,366.89 points. Stocks rose in a safe-haven rally on 15th March, mostly due to lower crude oil prices, but investors remained apprehensive about the country's present political  conflict. After climbing to 43,793.57 point and dipping to 43,325.59 points during intraday trade, the KSE-100 shares index ended at 43,719.82 points, up 352.93 points (0.81%). On 16th March, investors flocked to cement, banking, and energy sectors, buoyed by lower worldwide commodity prices and hopes of a ceasefire between Russia and Ukraine. The KSE-100 index finished at 43,975.69 points, up 255.87 points or 0.59%, after bouncing between a daily high and low of 44,283.88 and 43,719.82 points, respectively. Stocks fell on 17th March due to profit-taking, fuelled by concerns that shifting political allegiances will badly distract the administration, which is now battling the worst economic flames of its tenure. After reaching highs and lows of 44,194.26 and 43,796.65 points in the day trading, the benchmark KSE-100 index fell 168.46 points, or 0.38%, to 43,807.23 points. On the 18th of March, stocks plummeted after a conflict between government and opposition supporters sparked a major sell-off amid a currency depreciation. The KSE-100 index fell 777 points to 43,029.97 points, or 1.77%. [caption id="attachment_65245" align="aligncenter" width="696"] Source: PSX/WealthPK research[/caption] Last week, overall Foreign Investors Portfolio Investment (FIPI) sold their shares and made a profit of up to $4.90 million. Foreign corporates sold their shares and earned $5.25 million which was the highest-selling of the week followed by Individuals with $3.15 million shares and brokers with $1.74 million. Banks purchased $4.38 million shares, the highest buying of the week, followed by companies that purchased up to $2.87 million. Insurance companies purchased up to $2 million worth of shares. Domestic political conflict together with the opposition’s planned long march against the government is likely to keep the bourse under pressure. A key event to look out for is the OIC (Organisation of Islamic Cooperation) meeting. On the international front, any de-escalation by Russia and successful negotiation with the West may push the commodity prices down, which will improve the sentiment of the local bourse. The banking sector (United Bank, Habib Bank, Meezan Bank, Muslim Commercial Bank, and Faysal Bank), petroleum (Pakistan State Oil, Mari Gas, Oil & Gas Development Company Limited), automobile (Indus Motor), and cement (Lucky Cement, Fauji Cement) industries are among the most popular stocks for the next week.