Much-awaited consensus among the political parties over the 18th Constitutional Amendment immediately after, apparently, successful Pak-US Strategic Dialogue boosted up the sentiment of stock trade on the local bourses during the week ending Friday last.
Still some players remained cautious in the wake of ongoing proceedings in the apex courts regarding the implementation of its earlier judgement against the defunct as well as infamous National Reconciliation Ordinance.
Traders opened the week under review on a negative note and the market shed almost a percentile in one go. Apart from other deterrents, the players kept on sidelines due to fact that the State Bank of Pakistan kept the interest rates unchanged in its latest quarterly review.
Political uncertainties emanating from the pressure building up on President Asif Ali Zardari as well as the Government for reopening of the Swiss cases forced some major players to stay out of the wring throughout the week.
Pundits attributed the day one shedding during the week that was, partially to the profit taking by majority of position holders. Renewed interest on part of the foreign fund managers however reversed the sentiment during the second session of the week.
Although the Karachi Stock Exchange’s KSE-100 index failed to surge significantly on Tuesday last, still it set a direction for the rest of the week. Analysts were of the view that the market was tied to the divergent pull. Local players were weird of political as well as security vulnerabilities. On the other hand, the foreign investors remained buying in an aggressive mood. (Nation)
Still some players remained cautious in the wake of ongoing proceedings in the apex courts regarding the implementation of its earlier judgement against the defunct as well as infamous National Reconciliation Ordinance.
Traders opened the week under review on a negative note and the market shed almost a percentile in one go. Apart from other deterrents, the players kept on sidelines due to fact that the State Bank of Pakistan kept the interest rates unchanged in its latest quarterly review.
Political uncertainties emanating from the pressure building up on President Asif Ali Zardari as well as the Government for reopening of the Swiss cases forced some major players to stay out of the wring throughout the week.
Pundits attributed the day one shedding during the week that was, partially to the profit taking by majority of position holders. Renewed interest on part of the foreign fund managers however reversed the sentiment during the second session of the week.
Although the Karachi Stock Exchange’s KSE-100 index failed to surge significantly on Tuesday last, still it set a direction for the rest of the week. Analysts were of the view that the market was tied to the divergent pull. Local players were weird of political as well as security vulnerabilities. On the other hand, the foreign investors remained buying in an aggressive mood. (Nation)
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