KARACHI: The bearish note continued at the Pakistan Stock Exchange as the benchmark 100-index dropped another 138 points to drop to 41175 points level till midday on Monday.
Earlier, the stocks started new week on negative note after shedding 108 points to reach 41204 points level in early trading.
The benchmark KSE-100 index lost 1,948 points (-4.6 percent) during the first three days of the week; however, spurt of positive sectors-related news flows helped the index gain 844 points (+2.1 percent) on Friday.
Overall, the KSE-100 index closed 1,097 points WoW lower (-2.6 percent) at 41,312, with activity still reasonably low as average traded volumes and traded value clocked-in at 140 million shares per day and $71 million per day, respectively.
The market participation remained thin, with first day of the week (89 million shares) marked the dullest day since mid-2015. Overall, ADTO reduced 5 percent to clock-in at 140 million shares while ADTV inclined by 20 percent to reach $71 million, during the week.
Major inflows, amounting $14.38 million and $6.7 million were witnessed from banks and companies, while Insurance and Brokers remains net sellers worth $15.4 million and $6.6 million, respectively. Whereas, foreign investors off loaded $9.75 million worth of equities during the week.
On the macro front, inflation numbers of 3.9 percent came-in for the month of September 2017, largely in-line with the market expectations. Resultantly, the CPI for the 1QFY18 stood at 3.4 percent, well below SBP target of 6 percent. Furthermore, during the week, SBP’s currency reserves tapered-off by $276 million (-1.95 percent WoW) to $13.8 billion (two-year low).
