Equity market sees bearish trend

By Nasir Dehlvi

Equity market witnessed bearish trend last week. Post budget rally forced investors for making short term strategy and find ways not to remain in the sidelines.
However, market participants enjoyed a bullish sentiment on Wednesday when the benchmark KSE 100 index gained 202.97 points. The masters pointed out some positive news regarding US aid of $7.5 billion, a pundit said.
The holdings are in the safe houses as previously indicated by this scribe so the market was running in smooth way. There were no sudden changes that could be expected, the pundit added.
The budget failed to attract investors, as clarifications from various sources during the week were unable to draw them to the market, an analyst said. Jahangir Siddiqi and Co, DG Khan Cement, Lucky Cement, Arif Habib Securities Ltd and MCB were the volume leaders of the week, cumulatively accounting for 31 percent of the total volumes, the analyst added.
The bench mark KSE 100 index shed 16.58 points and closed at 7039.73 points. Market participants recorded total volume of 508.16 million shares during the last week. The daily turnover decreased to three month low at 64.4 million shares in a single session on Tuesday. (NC Report)

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