On May 9, 2014, according to the pet perceptions of the analysts, the KSE was unable to show any enormously supportive week on week figures. There are several reasons behind the unswerving analyzed stance last week, will be discussed later in this article. At the onset, KSE 100 index closed on 28,494.54 points after losing 16.48 points during the week whereas KSE 30 index closed on 19,872.25 after having a loss of 49.29 points. The average week on week volume was quite stationary i.e., 80.186 Million USD. Average KSE all closed on 21,237.96 with a net change of -59.46 points.
Overall trading activity was not supportive for local as well as for international investors. They seemed to be reluctant in investing and this embossed a total effect of bearish market activity however many supportive news appeared on the scene but they remained failed to touch the investors’ sentiments. The new wheat price i.e., Rs. 1200 per 40 Kg by the government has down strained the sentiments sufficiently. Government is still reluctant to reduce the fuel prices despite of decline in international market.
Next week will remain still as per the momentum, given all the expectations remain on the same drive. There is a little hope of market resuming activities this and this trend is expected to stay in act until the federal budget FY 14-15 announce in the month of June.
Following is the list of top gainers, losers and volume leaders:
|Top Gainers||Top Losers||Volume Leaders|
Top news that affected the market activity are as follows:
– Finance minister Mr. Dar has reported that Pakistan is about to get 550 million USD from IMF after getting board member approval
– IMF has put praise on performance of Pakistan on working and struggling for macroeconomic development and growth. This could be a positive sentiment for investors but it did not emboss any noticeable impact a session after news announcement
– Imran Khan is now actively pursuing his political opposition activities after a long time since elections
– Dollar prices are following downward trend throughout the Asia region
– Ahsan Iqbal revealed that Government is taking serious measures to cope up the energy crisis
– Despite of Dollar price steadiness in Asian region due to Ukrainian tensions, it has starting getting back against Pakistani Rupeeby