By Hamid Mahmood ISLAMABAD, February 22 (INP-WealthPK) The market began on a low note last week (Feb 14-18) due to Russia-Ukraine tensions, which caused a surge in the international oil prices. The amplified oil prices also had their ripple effect on Pakistan, stoking fears about inflation. As a result, the market mood remained low throughout the week. Furthermore, a significant increase of 93% in trade imbalance on a yearly basis added to pessimism. The momentum was further harmed by several scrips' financial results falling short of expectations. The Senate passed the OGRA Amendment Bill, 2022, and the Weighted Average Cost of Gas Bill, keeping gas utilities and some oil market companies in the spotlight and cushioning the overall drop. According to WealthPk analysis, the KSE 100 index finished at 45,675.87 points, down 403.50 points (0.9%), the all-share index lost 333.93 points, the KSE 30 index lost 164.17 points, and the KMI 30 index dropped 802.55 points on a weekly basis.

Index	Week Start	Week End	Change	% Δ
KSE 100 Index	46,079.37	45,675.87	-403.50	-0.88339861
All Shares Index	31,589.92	31,255.99	-333.93	-1.06837121
KSE 30 Index	17,968.10	17,803.93	-164.17	-0.92209978
KMI 30 Index	74,757.68	73,955.13	-802.55	-1.08518503

Source: PSX/ WealthPk Research

Fears of an all-out military showdown between Russia and Ukraine, a scenario that has set oil prices on fire, dragged stocks into a global slump on Monday, amid a tight local political situation. After swinging between a day high of 46,128.11 and a low of 45,508.14 points, the KSE-100 share Index shed 435.28 points, or 0.94%, to conclude at 45,644.09 points. Stocks closed the day flat after trading in a narrow range for the majority of the day, owing to rising global commodity prices and geopolitical anxiety on Tuesday; however, a reduction in Russia-Ukraine tensions lifted the mood later in the day. The benchmark KSE-100 share index rose 87.61 points, or 0.19%, to 45,731.70 points during the day, with highs and lows of 45,803.05 and 45,502.93 points. Stocks hardly moved on Wednesday, as a significant spike in the price of petroleum products alarmed the market participants, who were concerned about the impact on inflationary pressures in the face of a shaky economic outlook. After ranging between 45,904.69 and 45,603.65 points, the benchmark KSE-100 share index fell 46.90 points, or 0.10%, to settle at 45,684.80 points. On Thursday, stocks plummeted, as investors penalized companies that failed to meet the market expectations for dividends and distributions in their financial statements. After reaching a high of 45,716.86 and a low of 45,257.41 points, the benchmark KSE-100 share index fell 243.70 points, or 0.53% to settle at 45,441.10 points. The gas sector sparked a capital market surge on Friday, boosted by new rules aimed at reducing circular debt and positive FDI and industrial production figures. The benchmark KSE-100 shares index ended trading on Friday at 45,675 points, up over 235 points or 0.52% from its previous closing of 45,441.

Source: PSX/ WealthPk Research

Last week, overall Foreign Investors Portfolio Investment (FIPI) sold their shares making a profit of up to $1.97 million. Mutual Fund sold their shares and earned $5.36 million which was the highest-selling of the week followed by foreign corporations with $3.43 million shares and brokers with $1.01 million. Banks purchased $4.86 million shares, the highest buying of the week, followed by individuals that purchased up to $2.45 million shares. The overseas Pakistanis purchased up to $1.45 million worth of shares. Arif Habib Limited's financial expert anticipated that the market will continue to be bullish in the following week. Prime Minister Imran Khan is slated to visit Moscow next week, with two massive gas pipeline projects on his agenda to meet the country's rapidly diminishing gas supplies. A crucial trigger will be the signing of a business deal during the visit. Given the current results season, some industries and stocks are projected to remain in the spotlight. The favored stocks for the upcoming week are from banking sectors (United Bank, Habib Bank, Meezan Bank, Muslim Commercial Bank, and Faysal Bank) petroleum (Pakistan State Oil, Oil & Gas Development Company, Pakistan Petroleum), automobile (Indus Motor) and cement sector (Fauji cement, Lucky Cement).