PakStox Outlook

KSE100 Index added 2150 points this week and closed at 46,602, up 4.85% over previous week. Trading volume also increased substantially. Rupee also strengthened by around Rs 8/-. This shows the level of confidence in the new administration after the dramatic event around vote of no confidence against PTI government last week. The new coalition Administration still has to take shape though. Till this evening cabinet has not been formed.  "Foreigners' continued to be net sellers except last day of the week. As usual selling remained restricted to banking sector. In overall terms including Overseas Pakistanis, it was net buying by $1.23mn for the week. Individuals were major net buyers. Mutual Funds massive net sellers for the week to the tune of $9.89mn. Insurance companies were also massive net sellers and sold more than $7mn worth of shares in the week. As Kibor of +13% corporates and Mutual Funds preferred to be in money market and took advantage of  liquidity in the market ...

Good build up by PSX on yesterday's historic performance. KSE100 Index today added 262 points closing at 46,407 up 0.6%. Traded volume just slightly less today remaining 493mn shares. Market was mostly in red till 1pm. Foreigners were as usual net sellers in Banks. Good activity by 'Individuals' after a long time. Mutual Funds just slightly net sellers today. YTD Funds have been net sellers of  more than $66mn worth of shares. Insurance sectors another major seller have year to date have net selling of over $16mn. Rupee gained further against US dollar and was up by 90 paisas. The annual inflation rate in the US rose  to 8.5% in March of 2022. This is the highest since December of 1981. In February before the impact of high oil prices following Ukraine war the inflation was recorded 7.9%, i.e. at 40 years high. Market expectations for March 2022 was 8.4%.  Core reading was however below expectations, indicating that inflation could be peaking. DJI added 100 points on t...

Historic one day rise of KSE100. High volume of over 550mn shares. PTI government ousted. Coalition takes power. New PM announces some populist economic measures; increases minimum wage, increases pensions. 46,145  1,700 (3.83%) 'Overseas Pakistan' good amount of net buying, $2.46mn, restricted to two counters. Mutual Funds and Insurance Companies were massive net sellers today, taking advantage of market activity they sold $7.8mn and $5mn respectively. Individuals were net buyers of $11.3mn. WTI crude futures trading below $94 dropping close to 5%. This lowest in over three weeks. Decline attributed to China lockdown, a major consumer, and announcements of other major consumer economies plans release crude from strategic reserves.