Karachi, July 27, 2019: During the outgoing week, the benchmark index lost 356 points down by 1.1 percent WoW to close at 32,103 points.
The index started on a positive trajectory during this trading week as first 2 sessions cumulatively added 257 points to the index. Recovery in the first half of the week was on the back of a
Investors remained uncertain owing to weak macro indicators i.e. 1) LSM contraction of 3.78 percent YoY, & 2) SBP reserves down by US$389 million to US$7.6 billion.
During the week, Power & Distribution companies dragged the index by 71 points, followed by Food & Oil marketing companies cumulatively eroded the index by 177 points.
Based on NCCPL data, foreigners continue to remain net buyers amounting to US$8.4mn. On the local’s side, Mutual Funds remained net seller of US$13.4mn, respectively.