Pearl Securities Limited – Weekly Point
Karachi, January 29, 2016 (PPI-OT): Weekly Roundup
Last week was very thrilling as world’s stock markets were the main drivers and dominated the atmosphere all the time. The benchmark KSE-100 touched week high level at 31,462 and concluded at 31,298.60. Total trading volumes remained on the lower note as it decelerates by 21% to 584m shares (All Share Index). Daily average of the trading volumes remained at 117m shares, showing less interest by local and foreign investors.
Results season has already started with encouraging numbers and having potential to pump up the specific sectors next week. PKR appreciation was the good news but it was totally ignored by the participants as KSE-100 index gained marginally by 1% vis-à-vis last week’s close. Monthly and yearly KSE-100 growth have portrayed negative picture. Pearl Securities Limited does not expect no change in upcoming Monetary Policy on January 30, 2016.
Some positive news have reported in outgoing week as Pakistan and Iran are expected to increase trade to USD5bn. The government has issued PKR277.9bn under PSDP against the budgeted amount of PKR700bn. Pakistan to receive upto USD500mn post MSCI re-classification from frontier to emerging market.
Category: General Business News