Karachi: The Karachi Stock Exchange (KSE) witnessed slight decline this week following flat performance of last week besides the volumes also remained on the lower side.
KSE-100 index was down only 24pts (-0.18%) WoW to close at 13,273 points. The week started with a huge decline of 219 points in its first trading session owing to profit-taking witnessed from the local participants taking the market to recent lows of 13,077 points
However, on the following day, the market recovered pulling back 225 points on the back of foreign and local interest mainly in E&P, Cement, Fertilizer and the Banking sectors stocks. However, in the last two trading sessions, the market remained dull and hovered in the range of 13,200 points and 13,300 points level.
On the economic facade, country’s current account deficit ballooned to $2.95 billion in 8MFY12. However, on the other hand, World Bank approved funds of $1.09 billion for energy and irrigation systems, which would create fresh liquidity in the system.
On the political front, the verdict on the PM-related issue continued to be held during the week, which kept investors on the sideline. As a result, average traded value during the week stood at $75.1 million, down 4.4%WoW, while average traded volumes were at 249mn shares, down 38% WoW.
On the other hand, foreign inflows to equities continued to be in green and stood at $2.9 million against $1.6mn recorded last week, showing foreign interest in Pakistan equities.
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