Stock Watch - Politically-animated week with dull participation led index lose 0.6%wow.

Summary

The JUI-F Azadi March with the aim of resignation of Prime Minister Imran Khan gathered momentum this week as its impact on KSE-100 index losing 213 points. History has proved that investors remain cautious as such political agitation may give rise to violence and can create law and order issues. During 2014 similar kind of sit-in led to market down by close to 5 percent in 14 trading session.

The market although under tension during the week remained positive for three sessions and was able to control a big fall as market is witnessing some positive changes which has kept the hope alive for investors. The average volume declined to 15 million from 140 million last week. The foreigners who were seller turned buyer this week with $2.77m and market capitalization fall was controlled from $132 billion to $1 billion this week standing at Rs.6,640 trillion. The KSE-100 index stood at 33,762.48 on Friday close.

The market witnessed the biggest fall on Monday as the news of indiscriminate and ruthless shelling from across the line of control past midnight in which six civilian and a soldier of the Pakistan Army embraced martyrdom. The KSE-100 Index shed 785.42 points to close at 33,084.73. FATF official statement negative impact were also considered by the investors.

On Tuesday the foreigners continued to buy worth $1.85m. The trend continued for fourth day and the market gained 114.23 points to close at 33,198.96. The volume however declined to 84m from 130m on Monday.

The decision on Wednesday by the government to allow marchers to proceed with their protests was welcome by the opposition who agreed to hold talks with government's negotiating team. The index climbed 240.73 points to close at 33,439.69. The volume improved to 117m.

On Thursday Pakistan and India signed the historic Kartarpur Corridor Agreement allowing Sikh pilgrims a visa-free access to Darbar Sahib where the founder of Sikhism Guru Nanak spent last 18 years of his life. Besides aggressive stance by the opposition of JUI (F) march seemed to have toned down . The market gained 322.79 points to close at 33,762.48.

Stocks remained choppy on Friday as the political concern arose on the news of failing health of the former prime minister Nawaz Sharif and the pending post-arrest bail with courts on medical grounds .The market shed 105.02 points to close at 33,657.46. The volume improved to 171 m.

Participants/Activity

On average shares of 351 companies were traded. Of these...