By Hamid Mahmood ISLAMABAD, Mar. 16 (INP-WealthPK): The market began last week (March 07-11) on a sour note as worldwide oil prices hit a 14-year high (Brent surged to $139/bbl) as the US and EU considered banning Russian oil imports, prompting concerns about the current account situation. The opposition parties' submission of a no-confidence motion against Prime Minister Imran Khan in the National Assembly added to the investors' difficulties. Despite political turmoil, the SBP retained the policy rate at 9.75% at its monetary policy meeting, which re-energized the market. Later in the week, worldwide oil prices plummeted, owing to a statement by the UAE ambassador to the United States pushing OPEC (the Organization of the Petroleum Exporting Countries) to raise output, which helped to soften the total loss. The market ended the week at 43,653.33, down 898.02 points (about 2.01%). The All-stock index fell 725.41 points, the KSE-30 fell 452.77, and the KMI-30 Index fell 1849.70, respectively, on a week-on-week basis.

Index	Week Start	Week-End	Change	% Δ
KSE-100 Index	44551.35	43653.33	-898.02	-2.01569649
All-Shares Index	30698.21	29,972.80	-725.41	-2.3630368
KSE-30 Index	17428.85	16,976.08	-452.77	-2.59781913
KMI-30 Index	72494.71	70,645.01	-1,849.70	-2.55149652

Source: PSX/ WealthPK Stocks went into a spiral on Monday, tagging along with a worldwide sell-off, mostly as a result of crude oil hitting its highest level since 2008, and also due to local political turbulence that's gathering pace by the day. After dramatically bouncing between a high of 44,551.35 and a low of 43,049.41 points in the day session, the KSE-100 Index, the country's major measure of the capital market, lost a startling 1,284.38 points or 2.88% to end at 43,266.97 points. Stocks fell for a second session on Tuesday as investors panicked and sold their holdings after opposition political parties moved the Lower House of Parliament to hold a no-trust vote against the incumbent prime minister, exacerbating the government's woes in the face of the ongoing economic downturn. Closing at 42,878.35 points, the KSE-100 Index fell 388.62 points or 0.90%. Equities recovered from a two-day low on Wednesday, as the central bank's dovish monetary policy stance boosted recovery optimism and prompted buying in oversold stocks, but late profit-taking capped the gains amid political instability. The KSE-100 Index rose 164.61 points, or 0.38%, to 43,042.96 points, with highs and lows of 43,218.13 and 42,865.22 points, respectively. Stocks soared on Thursday as crude oil fell after Russia and Ukraine agreed to hold talks to resolve the conflict, which remains a huge danger to the global economy despite record-high commodity prices. After fluctuating between a day high and low of 43,867.93 and 43,042.96 points, the KSE-100 Index gained 810.66 points, or 1.88%, to end at 43,853.62 points. Stocks dipped on Friday as investors stayed out, or departed the market, fearful that the political tensions may aggravate further. The KSE-100 Index fell 200.29 points (0.46 %) to close at 43,653.33 points, after touching a day high of 43,966.28 points and a low of 43,596.51 points. [caption id="attachment_64890" align="aligncenter" width="626"] Source: PSX/ WealthPK[/caption] Last week, overall Foreign Investors Portfolio Investment (FIPI) sold their shares and made a profit of up to $3.13 million. Mutual Fund sold their shares and earned $7.08 million which is the highest-selling of the week followed by foreign corporates with $5.68 million shares and insurance companies with $0.56 million. Companies purchased $5.45 million shares, the highest buying of the week, followed by other organizations that purchased up to $3.67 million. Overseas Pakistanis purchased up to $2.71 million worth of shares. According to financial analysts, the market is projected to remain range-bound in the coming week. The market is anticipated to remain uneasy as the government and opposition seek alliances ahead of the no-confidence vote against the prime minister. On the international level, any de-escalation by Russia and successful negotiations with the West may cause commodity prices (particularly oil and coal prices) to fall, boosting local market sentiment. The banking sector (United Bank, Habib Bank, Meezan Bank, Muslim Commercial Bank, and Faysal Bank), petroleum (Pakistan State Oil, oil and gas development business), automobile (Indus Motor), and cement (Lucky Cement, Fauji Cement) industries are among the most popular stocks for the next week.