Karachi, December 1, 2020: During November, the market provided a return of 3percent MoM, closing above 41k levels (41,069) after closing below 40k in the preceding month. So far in 5MFY21, the KSE–100 has provided a healthy return of 19.3percent
Among the major sectors, top performers on MoM basis included Engineering (22.4percent), Technology & Communication (17.6percent), Textile Composite (8.3percent) and Commercial Banks (3.9percent). Moreover, E&Ps (9.8percent) also provided a healthy return during the month on the back of a rebound in oil prices on the hopes of a potent vaccine for the Coronavirus.
Foreigners pursued relentless selling, with a cumulative net sell of US$48mn in November, compared to a net sell of US$39million in October. After some profit-taking in October, individuals turned buyers once again in November (US$34million), followed by insurance companies (US$13million) and companies (US$11million).
