KSE: Post-budget blues engulf the market
- KSE exhibited a lackluster response to the FY13E budget and gradually fell victim to selling pressure, closing down 2.3% WoW, as investors stuck to the sidelines in anticipation of MPS announcement. A status quo transpired on Friday after market close.
- Volumes were sluggish, dropping to 95.3mn shares/day, down 32% WoW whereas FPI outflow was substantial with US$16.8mn exiting the bourses.
- Grays Of Cambridge, Rafhan Maize, Bata (Pakistan), Nestle Pakistan Limited and IGI Insurance were the major gainers while Media Times Limited, Agritech Limited, BYCO Petroleum, P.I.A.C. (A) and Pace (Pak) Ltd were major losers in the benchmark KSE-100 this week.
News This Week
- NRL cuts base oil prices by PRs7.15/litre
- Govt raises PRs35.7bn through PIB auction
- FBR agrees to opposition proposals regarding listed companies
- Cement Sales up 9% in 11MFY12; APCMA unhappy with the budget
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