KARACHI: With two trading sessions remaining, Pakistani stocks have provided a return of 1.7 per cent while the MSCI Pakistan is down 16pc for 2015.
The return is in sharp contrast to the handsome 33pc on average dished out by the capital market in last three years.
An unplugged foreign outflow of $313.5 million during the year was a major reason for the equities to end flat.
The pharma sector stood out as the best performer, posting a return of 17pc while oil and gas was the worst performer giving out a negative return of 31pc.
“The pharmaceutical sector rallied following approval of the drug pricing policy and launch of hepatitis ‘C’ medicine Sovaldi by Ferozsons (FEROZ),” said analyst Saad Hashemy at Topline Securities.
The automobile sector remained in limelight due to improving car sales volume amid Punjab taxi scheme, launch of new Corolla model and increasing car financing due to lower interest rates.
Meanwhile the chemical sector rallied by 13pc on the news of award of concessionary gas to Engro Fertiliser (EFERT) and Fauji Fertiliser Bin Qasim (FFBL)’s diversification into different business ventures.
Food producers and textile sectors underperformed with a decline of 7pc and 14pc, respectively.
Index heavyweight sectors including oil and gas and commercial banks which together have an overwhelming 40pc weight in the KSE-100 index remained under pressure during 2015 because of lower oil prices and reduction in interest rates, respectively. Commercial banks were down 16pc.