KSE 100 index comes out of bearish moment

Amanullah Khan

Karachi

KSE 100 Index which was experiencing bearish spell for the last one and half week finally broke the downward trend with a gain of 46 points amid low market volume of 172 million shares here on the last trading session of the week on Friday. However on the back of huge profit declared by K Electric it was the volume leader with a trade of 37.96 million shares to its credit the scrip closed with a gain of 0.39 at 7.05. The other two volume leaders of the day were the Bank of Punjab and Pakistan Bulk Terminal with trade volumes of 13 million shares and 9 million shares to their credit respectively.
The latest Consumer Confidence Survey, conducted during September 5 to 9, 2017 show that, in general, consumers’ confidence on Pakistan’s economy has increased. The overall Consumer Confidence Index increased by 5.07 percent compared to the previous survey, held in July 2017. The improvement in consumer confidence is reflected in the increase in Current Economic Conditions Index as well as Expected Economic Conditions Index. Moreover, the index, showing inflation expectations also increased by 2.6 percent during this period.
It may be recalled that State Bank of Pakistan is regularly conducting Consumer Confidence surveys through telephonic calls to consumers that are selected randomly across the country. These surveys are conducted after every two months and provide information on “what people are thinking” about current and future economic conditions, future trends in inflation, interest rates, unemployment, and their household income. Such information are helpful in the monetary policy formulation.

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