KARACHI: The Pakistan Stock Exchange started new week on negative note as the benchmark 100-index shed 114 points to reach 42295 points level in early trading.
Last week, the benchmark KSE-100 index declined by 0.8 percent WoW to close at 42,409 points level. Activity continues to remain dismal, with average trading volumes of 146mn shares/day (-14 percent WoW) and average traded value of $59m/day (31 percent WoW) during the week. Key buyers were mutual funds with net buying of $6.2m, while foreigners were also net buyers of $0.5m during the week.
Participation thinned as trading took a backseat to politics; average volumes were down 14 percent while value plunged 31 percent to $59m. During outgoing week, banks sold $10.3m, while funds bought $6.2m worth of equities. Foreigners bought $0.5m compared to $0.4m last week. Buying cantered in banks ($7.5m), cement ($3.5m) & OMCs ($2.8m), while selling in E&P ($10.4m) & fertilizer ($0.7mn).
