By Hamid Mahmood ISLAMABAD, November 24 (INP-WealthPK): The market started the last week on a low note due to uncertainties regarding IMF (International Monetary Fund) disbursements and rising inflationary pressure, but regained pace after the government agreed to pay Rs190 billion to IPPs (independent power producers), and gasoline prices remained steady. The Pakistan Stock Exchange (PSX) ended the week with a positive note. The market mostly stayed in the green zone on the last day of the week mainly led by the banking sector, because the State Bank of Pakistan (SBP) announced its interest rate at the end of the day. However, the Monitory Policy Committee (MPC) announced a 150bps hike in the interest rate following the release of data on the current account deficit, which increased to $5.1 billion in 4MFY21, against a positive balance of $1.3 billion last year. The Karachi Stock Exchange (KSE) 100 Index trading started at 45,749.15 on Monday and concluded at 46,489.41 on Friday, an increase of 740 points or 1.6 percent recorded week on week basis. Stocks hardly moved on Monday as persistent economic and political uncertainty cut participation to insignificance. The benchmark KSE-100-Share Index of the PSX finished at 45,736.26 with a loss of 12.89 points, or 0.03 percent, with the highest and lowest points of the session being 45,910.68 points and 45,544.99 points, respectively. Stocks soared on Tuesday, as the clearance of a second tranche worth Rs135 billion to private manufacturers sparked buying in cement and energy stocks, as well as renewed IMF loan bets. The KSE-100 Index rose 806.65 points, or 1.76 percent, to 46,542.91 points, after reaching highs and lows of 46,628.70 and 45,736.26 points, respectively, during the day. Fears of forceful monetary tightening by the central bank during its pre-scheduled meeting on Friday prompted profit-taking in careful trade. The KSE-100 Index fell 348.49 points, or 0.75 percent, to 46,194.42 points. The stock market closed down in a roller-coaster day ahead of a monetary policy meeting expected to be controlled by inflation hawks with IT firm TRG leading the losses. The KSE-100 Index fell 83.92 points, or 0.18 percent, to settle at 46,110.50 points, after hitting a day high of 46,293.08 points and a low of 45,728.54 points. Stocks rose on Friday, with banks stealing the show ahead of the SBP statement, which came amid positive large-scale manufacturing (LSM) statistics. At PSX, the KSE-100 Index rose 378.91 points, or 0.82 percent, to 46,489.41 points, reaching a day high of 46,600.82 and a low of 46,005.03 points (PSX).

Index	Week End	Week Start	Change	% Δ
KSE 100 Index	46,489.41	45,749.15	740.26	1.59232
All Shares Index	31,728.08	31,225.51	502.57	1.58399
KSE 30 Index	18,037.74	17,725.86	311.88	1.72904
KMI 30 Index	75,476.97	73,822.67	1654.3	2.19179

Source: PSX Source: PSX Last week, foreign investors bagged profits and made $24.96 million due to rupee continued depreciation. Foreign corporates earned $26.71 million profit, banks earned $3.54 million, and individuals earned $2.03 million. Insurance companies bought shares up to $13.51 million which is highest buying of the week followed by companies buying up to $7.70 million and mutual fund buy up to $6.28 million shares. Following clarity in the monetary policy post Friday’s meeting, experts believe that the market will react accordingly this week. They believe that the market sentiment will depend on announcement of the IMF package. Once through, the market is likely to post a rebound. This week, preferred stocks are refinery, banking, cement and automobile sectors.