February 23, 2025 (MLN): Pakistan equities started the week on a negative note but later positive developments on the economic side strengthened investor confidence which boosted buying activity.Thus the benchmark KSE-100 index gained 715.64 points, up by 0.64% to close at 112,800.93 compared to the previous week’s close of 112,085.29.Intraday swings were significant, with the index reached a high of 114,444.01 (+1,643.08 points) and a low of 111,513.66 (-1,287.27 points).Market capThe KSE-100 market capitalization stood at Rs3.46 trillion, up 0.64% from the previous week’s Rs3.44tr. In USD terms, the market cap was recorded at $12.41 billion, compared to $12.34bn in the prior week, reflecting a surge of $62.81 million or 0.51%.This week, the index return in USD terms remained positive 0.51%, compared to last week’s return of 1.53%.On the economic front, breaking a 3-month streak of posting surplus consecutively, the current account recorded deficit of $420m in January 2025.The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs258.81bn.The book-building process of Barkat Frisian Agro Limited’ Initial Public Offer (IPO) has concluded with an oversubscription of 16.25 times, the historic development at PSX.Furthermore, the Central Bank also auctioned floating-rate Pakistan Investment Bonds, raising Rs431.3bn through 5-year and 10-year semiannual bonds against a target of Rs350bn.In a notable development, Prime Minister Shehbaz Sharif met the Executive Directors of the World Bank, who arrived in Pakistan to review the implementation of $40 billion funding.Moreover, the International Monetary Fund (IMF) staff team is scheduled to visit Pakistan in early to mid-March for discussions around the first review under Pakistan’s Extended Fund Facility-supported program.The positive economic cues helped stabilize investor sentiment, pushing the KSE-100 index’s fiscal year-to-date returns to 43.8%. However, on CYTD return stood at -2%.Top Index MoversDuring the week, Cement, fertilizers, and Automobile Assemblers contributed 549.03, 309.40, and 80.56 points to the index.On the flip side, Commercial Banks, Oil & Gas Exploration Companies, and Pharmaceuticals dented the index by -193.80, -169.39, and -154.68 points, respectively.Among individual stocks, FFC added 166.56 points to the index while LUCK, FCCL, and EFERT contributed to the index by 160.46, 152.67, and 118.77, respectively.Conversely, UBL, MARI, and ABOT, eroded -215.87, -136.07, and -130.05 points, respectively.FIPI/LIPIThis week, Foreign Investors remained net sellers, offloading the equities worth $5.13m.Among them, Overseas Pakistanis led the selling activity worth $3.34m while Foreign Corporates sold securities worth $1.71m.On the other hand, this week, local Investors were net buyers, purchasing equities worth $5.13m.Insurance Companies and Individuals bought securities worth $5.82m and $4.41m, respectively.However, Mutual Funds sold securities worth $8.64m.Copyright Mettis Link NewsPosted on: 2025-02-23T22:08:38+05:00The post Weekly Market Roundup appeared first on Mettis Global Link.