Stock Watch.

Byline: Raees Uddin Khan,

Index manages to end flat after wild fluctuations

Summary

The two issues one economic and the other political kept the investors guessing and bringing high and low in Pakistan Stock Exchange (PSX) index movement. The PSX started when the market dipped 647 points on Monday on aggressive foreign selling and ended at $4.02m. The overall foreign selling during the week was $13.33m. The index also lost 661.30 points on Wednesday on issue of the non-clarity of appointment of DG ISI by the government. The opposition tried to play on against the government on this issue which was finally cleared when a statement in this regard issued by the Information Minister, Fawad Chaudhry. Another issue of economic nature was the completion of IMF review successfully and the departure of Finance Minister Shaukat Tarin to USA for IMF meeting on October 11-17. The chances are the release of around $1 billion in near future by the IMF while the release of IMF positive fiscal indicators also created positive impact in the market.

During the week the KSE-100 Index increased by 344.29 points or 0.77 per cent to close at 44,821.53 points. Trading activity increased as daily average volume on ready was 373 million from 265 million shares previous week. Foreign investors remained net seller of $13.33m and total market capitalization increased by Rs.9 billion to Rs.7,795 trillion.

Monday: KSE-100 index at 43,829.35 Change (-647.90) Vol 227m Mkt Cap Rs.7,678 trillion.

Tuesday: KSE-100 index at 43,883.08 Change (+53.73) Vol 405m Mkt Cap Rs7,686 trillion.

Wednesday: KSE-100 index at 43,221.78 Change (-661.30) Vol 355m Mkt Cap Rs.7,583 trillion.

Thursday: KSE-100 index 44,333.68 Change (+1.111.90) Vol 389m Mkt Cap Rs 7,748 trillion.

Friday: KSE-100 index 44,821.53 Change (+487.45) Vol 489m Mkt Cap Rs7,795 trillion.

Participants/Activity

Foreigners were net seller $13,33m during the week; companies were seller $3.36m, Banks were buyer $1.53m; Mutual fund net buyers $3.40m individuals net seller $3.26m and Insurance were buyer $12.21m.

Volume leaders during the were: World Call 212m; Telecard 78m; Byco Petroleum 16m; Unity Foods 70m; Treet 64m; Hascol Petroleum 53m; Services Fabrics 34m; TRG Pak 23m; BOP 16m and Hum Network 8m.

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