By Hamid Mahmood ISLAMABAD, Mar 08 (INP-WealthPK): The stock market started off on a high note last week (February 28-March 04) when Russia and Ukraine began discussions, but things quickly deteriorated as the talks broke down, causing global crude oil prices to jump beyond USD 114/bbl, and predictions that the price would go up further. The announcement of an industrial package sparked purchasing midweek, albeit the bullish momentum was short-lived as the market plunged amid Russia-Ukraine conflic ts and rising commodity prices. The trade deficit increased by 82% to $31.96 billion, and inflation increased by over 12 percent year-on-year basis, putting pressure on the market index. According to WealthPK research, the market finished at 44,551.35 points, up 567.11 points (1.289 percent). Last week, the All-Shares Index gained 480.78 points, while the KSE 30 Index 337.79 gained points and KMI 30 Index gained 1674.89 points.

Index	Week-Start	Week-End	Change	% Δ
KSE 100 Index	43984.24	44551.35	567.11	1.289348185
All Shares Index	30217.43	30,698.21	480.78	1.591068466
KSE 30 Index	17091.06	17,428.85	337.79	1.9764134
KMI 30 Index	70819.82	72,494.71	1,674.89	2.365001775

Source: PSX/ WealthPK Research Stocks swung back and forth between losses and gains before finishing strong, with investors counting on some positive financial news last week amid a worldwide surge. After touching highs and lows of 44,557.10 and 43,639.17 points, the benchmark KSE100 Shares Index gained 476.77 points, or 1.08% to end at 44,461.01 points. After the prime minister raced to cool down inflation-ravaged people and sectors with medium-term relief on fuel, power, and taxes, stocks soared for the second day on Tuesday, riding a new wave of confidence. The KSE 100 Index finished at 44,803.58 points, up 342.57 points or 0.77 %, after hitting a high of 45,017.68 and a low of 44,461.01 points. Stocks fell sharply in early trade on Wednesday, owing to rising global commodity prices, but recovered some of their losses as record-high oil prices sparked a rally in the energy sector as the crisis in Ukraine raged on. The KSE 100 Index declined 289.46 points (0.65%) to 44,514.12 during the session, hitting a top of 44,803.58 and a low of 44,133.58. Stocks were scarcely moved on Thursday as panic selling continued throughout the day, largely owing to geopolitical and economic worries, with international crude oil markets continuing to reach record highs. The KSE 100 Index closed at 44,525.72 points, up 11.60 points or 0.03%, after reaching highs of 44,706.46 and lows of 44,312.74 points. Stocks sailed through Friday for the second day in a row on weak volume, pulled down by concerns that rising commodity prices may cause larger inflationary surges in the near future. After swinging between a high of 44,723.19 and a low of 44,457.55 points, the KSE 100 Index rose 25.63 points, or 0.06%, to 44,551.35 points. [caption id="attachment_64595" align="aligncenter" width="450"] Source: PSX/ WealthPK Research[/caption] Last week, foreign investors’ portfolio investment sold and made a profit of up to $ 2.21 million. Foreign corporates made the most money last week, earning $3.27 million, followed by mutual funds with $1.91 million shares and insurance companies with $0.45 million shares. Companies purchased $1.68 million shares, the highest buying of the week, followed by brokers, who purchased up to $1.03 million shares. Overseas Pakistanis purchased up to $1.01 million worth of stock. Due to global tensions and rising commodity prices, financial analysts at Arif Habib Limited anticipate that the market will stay unsettled in the short term. The monetary policy meeting, the FATF judgment, and the ongoing IMF review are all developments that will have an influence on the market. Given the current results season, some industries and stocks are projected to remain in the spotlight. “We recommend that investors exclusively invest in long-term blue-chip stocks. Banking sector (United Bank, Habib Bank, Faysal Bank, Meezan Bank, and Muslim Commercial Bank), petroleum (Pakistan State Oil, Oil & Gas Development Company, Pakistan Petroleum), automobile (Indus Motor), and cement sectors (Lucky Cement, Fauji Cement) are the favoured stocks for the next week.”