KARACHI: Pakistan Stock Exchange (PSX), while bouncing back after initial shake on post US election uncertainty, added 1,008 points or 2.4 percent in outgoing week to close at 42,849 points. “We expect the market to take cues from the ongoing court proceedings and emerging clarity on Donald Trump’s stance regarding relations with various countries including Pakistan. We recommend market weighted portfolios with the gradual profit booking especially in financial stocks,” said Sultan Mahmood, an analyst at Habib Metropolitan Financial Services. He added that the market offered a mix of tumult and relief during the outgoing week as the index came in touching distance with the 43,000 level. The eventful week witnessed the court proceedings’ on the politically charged Panama scandal move ahead smoothly, while the election of Donald Trump against all odds in the US presidential polls toyed with global markets. JS Research’s analyst Faizan Ahmed said taking cue from Trump’s statements on trade, race and world affairs during the campaign; global markets witnessed hefty intra-day sell-off and flight towards safe-haven assets like Gold and Yen, only to recover partially towards the end of the day after hearing a well composed statement from the President elect. PSX followed international equity markets and continued to extend positive returns. Overall activity spiked up as well as gauged from increase in average volumes, up by 2 percent Week on Week (WoW), to 494 million shares per day. In line with global jitters, foreigners turned to be net sellers of a hefty $28 million during the week where value buying by local mutual funds ($16 million) provided respite to temporary plummet. The local benchmark index, like most global equities, took a nosedive on Trump’s surprise victory, but erased losses as sanity settled in. The major movers at the bourse were cement and banking names that kept alpha hunters busy.