The Karachi Stock Exchange 100 index posted a return of 15 percent in May 2013 as equity investors cheered the change in political setup after May 11 elections.
“Further support was added by strong foreign flows,” said a report issued on Friday by Topline Research. The benchmark KSE100 index gained 2,841 points in May.
The report said bifurcating the numbers, index rallied 934 points before elections while post elections it gained 1,907 points. “This is the highest monthly return posted by the market since March, 2009, where the market was in the recovery phase post 2008 crisis,” the report said.
Average daily traded volume stood at Rs 10 billion ($102.8 million) during the month, up 96 percent against the 12 month per day average of Rs 5.2 billion ($52.4 million), while they are the highest since October, 2009. In share terms, average volume stood at 340.7 million a day in May.
Net foreign buying recorded at $265 million, which included $172 million worth of net buy in ULEVER, according to NCCPL data (May 30, 2013).
