KSE: Approval of FY13 Budget halts the slide
- A three-day slide was quickly reversed on Thursday upon successful passage of the FY13E Budget by Parliament which enabled the market to sustain in green territory (+0.8% WoW).
- Domestic politics garnered a fair share of market attention, whereas stock specific developments saw notification of final tariff for Hubco’s Narowal Project.
- Volumes dipped further to 86mn shares/day down 9.3% WoW. FPI outflow of US$83.6mn included one-off strategic sale of 200mn Hubco shares at PRs 31/sh (~US$66mn); excluding which the outflow amounts to US$17.6mn.
- Philip Morris Pak Ltd, Media Times Limited, Standard Chartered Bank, Rafhan Maize and Pak Suzuki Motors were the major gainers while Sui Northern Gas Ltd, Unilever Pakistan Foods, Ibrahim Fibers, Indus Dyeing and Pakistan Tobacco Company were major losers in the benchmark KSE-100 this week.
News This Week
- Lucky Cement interested in acquiring 75.8% stake in ICI Pakistan
- Remittances up 13.6% YoY in May-2012
- MSCI Annual Review on 20th June
- Govt. failed to meet T-bill auction target
- NA passed Finance Bill 2012 with amendments
No comments:
Post a Comment