In an outgoing week, ‎trading commenced on a negative note ‎partly carried from the previous week as investors were ‎doubtful about the success of prime minister s visit to ‎China. ‎

Another round of negotiations between Pakistani and Chinese, ‎which did not yield any tangible positive outcome yet forced ‎the index to slide. ‎

In addition to this, MSCI reduced Pakistan s weight to 0.046% ‎after down grading Lucky Cement and UBL from main index to ‎small index and deleted Honda Car and Maple Leaf Cement ‎from small index.

However, the index rebound post MSCI ‎announcement on last two trading days due to domestic ‎financial institutions and high net worth individuals showing ‎interest which pushed the index upwards. ‎

The benchmark KSE-100 rose by 272 points or 0.66 percent to ‎close at 41,661 points.‎

During the week, foreigners were net sellers amounting to $24.1 ‎million versus $9.4 million in the previous week, this is their ‎‎28th consecutive-week of foreign selling. While on local front, ‎Mutual Funds and individuals were net buyers of $9.2 million.

Top five best performing sectors during the week were ‎commercial banks up by 193 points amid rate hike expected by ‎‎100 basis points in upcoming monetary policy, cements 94 ‎points due to declining international coal prices by 3 percent ‎and chemical 42 points given healthy margins. ‎

While, sectors that contributed negatively to the index were oil ‎and gas exploration and production drop by 78 points due to ‎slump in international oil prices by 9 percent, technology and ‎communication 32 points, and food and personal care 16 m ‎points. ‎

‎"We expect the market to remain range bound given lack of ‎positive triggers ahead. Unfavorable economic conditions ‎owing to higher current account deficit, depleting foreign ‎exchange reserves and expectation of another rate hike of 100 ‎basis points in the upcoming monetary policy are also likely to ‎keep investors cautious", an analyst from Arif Habib Securities ‎said. ‎

However, any positive announcement from prime minister s ‎visit to Malaysia (which is expected on 20th Nov) could provide ‎some confidence to the investor sentiment.