After witnessing correction of almost 6,000 points since Feb 2015 market flipped on its head in current week observing a Positivity of almost 2,400 points. Recovery in foreign inflows broke the shackles of bearish phase and became the foremost reason for market Positivity. 11 year
record low CPI of 2.5% YOY & anticipation of further key rate cut in next MPS, US-IRAN nuclear deal, declining international oil prices, SBP received US$499.09mn trench from IMF, Signing of MOU led to ease in political confrontation between Karachi related political giants, new discoveries of oil well in Tal Bloc at Mardankhel by POL and invitations of EOI for appointment of financial advisor to divest shares of Kapco were other major reasons helping market to end in green zone.
The benchmark KSE-100 index was up by 1,456.13 points to close at 31,413.96 points. KSE All Share Index increased by 719.94 points to end at 22,270.03, KSE 30-Index improved by 817 points to conclude at 19,886.19.
The ready market average volume improved by 45.28 to 253.82 million shares compared to 174.72 million shares traded on last week. The market capitalization of KSE enhanced by Rs 221.32 billion to Rs 6.934 trillion against Rs 6.713 trillion observed last w eek. K-Electric limited remained overall volume leader during the week at 121.41 million shares, up by Rs 0.67 to close at Rs 7.43. Second on the volume leader was, Pakistan Elektron Limited increased by Rs 6.23 to close at Rs 50.78 by trading nearly 109.27 million shares. Bank of Punjab remained as the third volume leader of the week by trading well over 89.46 million shares got better by Rs 0.50 to close at Rs 8.31.
In the past week 380 scrips traded in which 268 scrips advanced, 103 declined while the value of 9 scrips remained intact. Rafhan Maize and Siemens Pakistan remained the top gainer by Rs
188.86 and Rs 165.53 to close at Rs 9,889.86 and Rs 1,047.82 respectively, while Unilever Foods and Wyeth Pakistan were among the major loser which lost Rs 445.95 and Rs 375 to close at Rs 8,055.05 and Rs 2,300 respectively.
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