Updated as on 16th June 2012
“Hope is what keeps you going” The coming session will better point on the move of the week
Past week quite precisely followed the indicated threat of downslide in last week call, but on Thursday bulls surprised everyone by moving up like crazy and that only session made possible for bulls to close week with the addition of 107 points comparing WoW basis, though they were failed to continue in last session but at least drag index out from depressing sentiments.
Past week noticed with skepticism of foreign investors as they found with panic selling whereas the local institutions and investors were bit relaxed and noticed with targeted buying. In last sixteen months outflows of USD$ 216,829,566 recorded in KSE and June alone so far reflecting outflows of USD$ 97,042,861 which is 44.75% of the total outflows of 16 months, quite scary right!
Participation of stakeholders remained un changed as the volumes only declined by 3.02% in KSE-100 comparing to earlier week.
One positive development right on the edge of announcement i.e restoration of NATO Supply, and for sure that will ease the donors policies for deserving and ailing economy, the current decline in POL prices easing consumer a little bit but for short period of time, it will not going to impact much on inflation figures unless government borrowing abjured. Major threat to economy in current scenario are the steps taken by the government in recent budget announcement focusing more on incoming election instead of supporting the ailing economy and having corrective measures for declining growth due to various reason one of those are gas and power shortage, and last but not the least we are going to face terrifying consequences of bad governance and law n order situation in Karachi as the business community is in the severe anxiety because of killings of business men for extortion money and it is expected to have more in coming days as we are heading towards Ramadan which is the major season generates revenues.
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