Zubair Yaqoob
Karachi
The week ended nearly where it began, i.e. near 43K level. During the week, the index did slip towards 42800 but closed the week above 43k. Among OMCs, PSO made an upward move whereas E&P & Refineries remained largely unchanged and declined respectively.
Throughout the week, political uncertainty reverberated that cautioned otherwise optimistic investors and therefore a halt in index performance. By the end of session, news of further foreign inflows of $500M in T-Bills broke that proved to be single highest inflow in a single day yet. Positive sentiment was observed in the equity market as well but MoC activity pulled the index back. Banking sector again led the pack with 46.9M shares, followed by Technology (42.7M) and Cement (20.5M).
