"Sector-wise, positive contributions were noted in pharmaceuticals (up 272 points), power (up 164 points), technology (up 123 points), leather and tanneries (up 115 points), and cable and electrical equipment. In contrast, negative effects were observed from E&P (decreasing 132 points) and OMCs (decreasing 25 points).
Individual stocks that contributed positively included Dawood Hercules (up 146 points), Service Industries Ltd (up 115 points), Kot Addu Power (up 70 points), GlaxoSmithKline Pakistan Ltd (up 67 points) and Hainan Laboratories. Ltd. (incorporated). 63 points). On the other hand Engro Fertilizers (deducted 122 points), Oil and Gas Development Company Limited (deducted 59 points), Meezan Bank Limited (deducted 48 points), Mari Petroleum Limited (deducted 40 points) and negative contribution from Pakistan. Seen. Petroleum Ltd. (deduction of 39 points).
Foreign investment was $2.7 million for the week, down from the previous week's net buying of $8.0 million. Significant investment was seen in fertilizers ($2.2m) and cement ($1.4m). Domestically, sales activity was reported by brokers ($1.9m), followed by 'other organisations' ($4.7m).
Looking ahead, AHL expects a positive market sentiment in the coming week, with investors keeping a close eye on developments regarding the new IMF program, Saudi Arabia and Qatar's investments, and the upcoming budget for 2024-25.
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