Karachi: The unresolved Nato supply issue coupled and worsening of law and order in the city somewhat hurt investor sentiments over the week. However, encouraging news was worth $12 million investment made by foreigners in shares different stocks in the closing week.
Overall mixed sentiments were witnessed at the Karachi Stock Exchange with the benchmark index (KSE-100) gaining 0.5% WoW to close at 13,925 level. Average volumes also marginally improved by 8.4% WoW to 156 million shares.
Interest in the cement sector remained intact in anticipation of a positive budget for the cement sector along with increase in cement prices in the south. LUCK and DGKC both outperformed the market by 4.3% and 5.1% respectively.
Despite various discussions between the stakeholders from Pakistan and US, the issue of reopening of Nato supply routes remained unresolved, analysts said. In the Nato summit President Zardari gave no clear indication on reopening Nato supply routes anytime soon without the preconditions set by the country’s Parliament. US also remained firm on the apology issue on the Salala tragedy and its drone strikes policy.
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