From the onset of the new calendar year, the benchmark’s performance remained subdued as the index touched a low of 11,194 points. Within a short span of time market recovered the major losses to close at 11,282 points. The major economic concerns overshadowed the attractive valuations. The expected depreciation of PKR versus USD kept the foreign inventors away from the local market.
KSE 100 index closed at 11282.01 levels with the loss of 65.65 points, while KSE-30 index gained 16.17 points to close at 10195.20 levels. All Share index closed at 7815.14 levels after losing 41.68 points. Total 105 scrips advanced 103 declined and 119 remain unchanged out of total 327 scrips traded. Bilal Asif at HMFS believes that the 2nd Half of FY12 would be fairly crucial especially the current account numbers, trade balance and sustainability of remittances over $12 billion mark, while considering the energy related issues and political jolts may impact the investor sentiment. Fertiliser stocks including Fatima and FFC bounced back aggressively while Engro and FFBL followed the sector leaders. With onset of the result season we may witness better volumes but rising political temperature and economic concerns may continue to overshadow the corporate sector performance, he added.
