Pakistan Stock Exchange continued to depict lacklustre performance throughout the last week as increased economic concerns and rising political uncertainty kept investors on the back foot.

Positive news of lower Current Account Deficit of US$ 545Mn and settlement of the longstanding Reko Diq case failed to revive Investors Interest.

T-bill yields across all tenors increased significantly which raised the market expectations of Increase in Policy Rate going ahead.

Moreover, PKR devaluation against the USD (↓0.8% this week) and decline in forex reserves (↓3.8% this week) increased investors’ concern.

Benchmark KSE100 index recorded highs and lows of 43,686 and 42,936 points to settle at 43,551 (↑521 pts or 1.2% WoW). Volumes, on the other hand declined to only 58.7Mn shares (↓4.8% WoW).

Stock wise, top performers included FFBL (+7.4%WoW), TRG (+6.7%WoW), EPCL (+6.2%WoW), AVN (+5.3%WoW), and LUCK (+5.3%WoW), while Top Losers included BOP (-10.3%WoW), BNWM (-5.0%WoW), THALL (-4.7%WoW), SHFA (-4.7%WoW), JSCL (-3.6%WoW).

Stock Market is expected to remain range bound amid political uncertainty with regards to no confidence vote. Moreover, increased global commodity prices will further more Pressure.

Furthermore, ongoing IMF review and resultant outcome will be keenly tracked by Investors.

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