Stock Watch.

• Position: Pakistan Stock Exchange or KSE-100 Index

Stocks suffer the loss of 7,832 points by end of Fy 2018-19

Summary

At the end of the fiscal year June 2018-19 the KSE-100 Index was standing at its lowest close after ending the week on Friday June 28, 2019 at 33,901.58. Last fiscal on July 2, 2018 the Index was at 41,734.05, resulting with a loss of 7,832 points during the year and a decline of around 19 percent.

The market during the week remained volatile as heated debate over the passing of 2019-20 budget were carried out in the parliament, which according to the Speaker was the longest in parliament history. The opposition in its All Parties Conference (APC) and other meetings had decided to oppose the Budget. Besides investors were also spooked by the exchange rate uncertainty as it touched the highest in the interbank on Wednesday Rs.162.25 from Rs.157.00 a day earlier. The investors also remained worried for the release of Rs.20 billion market fund for stock exchange; held their breath as IMF executive board is scheduled to meet on July 3 to consider three-year 'extended fund facility' of $6 billion for Pakistan and nervousness over the Financial Action Task Force black listing.

KSE-100 Index declines 3.5% WoW to close at 33,901.58. The average volume increased to 146m shares and market capitalization decreased by Rs177 billion to Rs.6.887 trillion. Foreign buying clocked upto $7.93m this week while Mutual Fund remained seller for $14.65m.

On Monday KSE-100 Index declined by 653.30 on budgetary measure requiring the presentation of CNIC for the purchase of cement. The Index closed at 34,471.95. Cement sector loses 106 points.

On Tuesday, there was absence of positive trigger in the market which brought Index by 281.33 to close at 34,190.62

On Wednesday, the Index continued declining. The KSE-100 Index shed 102.06 points to close at 34,088.56 due to heavy selling as volume increased from 145m to 159 m shares.

Volatility in the market continued on Thursday and the Index shed 314.13 points to close at33,774.43 points on concern of inflation with June CPI initial figures at 9.5 percent.

On Friday, the market managed to break the losing streak as sign of passing the budget seemed eminent. The Index gained 127.15 points to close at 33,901.58.

Participants/Activity

On average shares of 339...