By Hamid Mahmood ISLAMABAD, May 18 (INP-WealthPK): Last week (May 9-13), the market began to fall due to concerns over the IMF program, which includes subsidies on petroleum items and power prices. As a result, the exchange rate parity versus the dollar reached an all-time low of PKR 192.53. Foreign reserves have dropped significantly to a 23-month low of $10.31 billion (down by USD 190 million week over week). Furthermore, inflationary fears have increased, with worldwide oil prices rising again after falling earlier in the week. According to WealthPK analysis, the market finished at 43,386.46 points, down 1,354.35 points, (3.02%). On a weekly basis, the All-Share Index fell 906.57 points, KSE-30 Index fell 606.56 points, and the KMI-30 Index fell 2,467.16 points.

Index	Week start	Week-end	Change	% Δ
KSE-100 Index	44,840.81	43,486.46	-1,354.35	-3.020351327
All Shares Index	30,480.30	29,573.73	-906.57	-2.974281749
KSE-30 Index	17,148.53	16,541.97	-606.56	-3.537096183
KMI-30 Index	72,989.51	70,522.35	-2,467.16	-3.380156957

Source: PSX/WealthPK research Petroleum subsidy was not being passed on in a targeted manner by the new administration, and there was no news on the Saudi and United Arab Emirates money and oil facilities, or the International Monetary Fund. Stocks plummeted on May 9, as expanding economic flaws combined with a worldwide sell-off mood of the investors. Experts said the rupee depreciation, unproductive Saudi visits, and IMF uncertainty hurt commerce. After touching a high of 44,841.41 and a low of 43,235.32 points, the benchmark KSE-100 Index fell 1,447.67 points, or 3.23%, to settle at 43,393.14 points. Equities rebounded in tight trade on May 10, from Monday's ashes, as fresh IMF loan bets sparked bargain-hunting in oversold stocks. The KSE-100 Index rose 111.22 points, or 0.26%, to conclude the day at 43,504.36 points, with intraday highs and lows of 43,646.93 and 43,261.98 points, respectively. On May 11, stocks got off to a sailing start, but a shaky political situation and a bleak economic outlook knocked the wind out of the rally's sails. After bouncing between a day high of 43,642.39 and a low of 42,391.93 points, the KSE-100 Index fell 641.21 points, or 1.47%, to 42,863.15 points. Stocks bounced violently on May 12, closing a few ticks higher as the rupee depreciated and there were no notable trading triggers. After reaching a high and low of 43,028.58 and 42,273.27 points during the day, the KSE-100 Index gained 35.29 points, or 0.08%, to close at 42,898.44 points. Stocks rose on May 13 as a slew of encouraging news lifted economically sensitive industries, alleviating some of the country's generally grim economic outlook. Investor mood was buoyed by higher-than-expected remittance inflows, over 10% growth in the large-scale manufacturing sector, and reports of increased money from the Asian Development Bank (ADB) for budgetary support. The KSE-100 Index closed at 43,486.46 points, up 588.02 points or 1.37%, after hitting a day high of 43,505.75 and a low of 42,853.50 points. [caption id="attachment_67132" align="aligncenter" width="696"] Source: PSX/WealthPK research[/caption] By selling its shares last week, the Foreign Investors Portfolio Investment (FIPI) made a profit of up to $1.88 million. Individuals made the most money this week, selling their shares for $10.37 million, followed by mutual funds with $3.19 million and insurance firms with $2.67 million. Banks purchased up to $16.29 million in shares, followed by other organizations, which purchased $1.53 million in stock. Brokers purchased up to $1.14 million worth of stock. Irfan Ahmed, a financial expert at Arif Habib investment banking and research firm, said clarity on some economic measures would emerge next week, boosting the market mood. The administration is believed to be planning to eliminate gasoline and energy subsidies in order to get the IMF clearance, which will be beneficial to the market. 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 expected to be among the most popular stocks this week.