Karachi: The KSE-100 Index broke through the psychological 16,000 barrier and closed at an all time high of 16,102, up 1.8 percent on week-on-week basis.
Investor sentiment was upbeat at the local bourse throughout the week on expectations that October 2012 Consumer Price Index (CPI) figures dropped further, paving way for more reduction in discount rates in the next monetary policy.
The investor interest was concentrated in the cement and the textile sectors outperforming the market by 1.1 percent and 3.6 percent respectively.
The average volumes too surged by 13 percent week-on-week to 150 million shares while net buying from foreigners this week amounted to $12.6 million.
The local equities outperformed in the Asia Pacific region during the month
and posted positive return of mere 0.05 percent (based on dollar market capitalisation) as against the Asia Pacific average negative return of 1.0 percent on monthly basis.
The 100-share index’s year-to-date return is still above par than that of the regional markets’ as well as other world benchmark indices’ with 29 percent return comparing average return of Asia pacific of 20 percent during the same period. Similarly, Pakistan equities received foreign funds of $38 million as against outflows in the Asia Pacific region of $497 million during October 2012.
Pakistan and Vietnam equities stand with smallest size of inflow with only $99 million and $20 million, respectively, while regional equities combined stand with a massive inflow of $38 billion during the period.
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