Political noise is likely to subside next week and the market is expected to recover Friday’s losses.

Heavy selling to end the week eroded earlier gains to close flat on the week @ 80,117
17 shares rose while 83 fell SNGP PA (+3.63%), THAL PA (+2.62%) and MARI PA (+0.57%) were the biggest upside contributors while HUBC PA (-4.37%), FFC PA (-4.73%) and HBL PA (-4.35%) provided the largest index drags
Declines were seen following reluctance from the Election Commission to implement a Supreme Court order verdict that awarded 24 reserved seats to the PTI
Pakistan’s FY24 CAD of USD 691mn vs USD 3.3bn YoY, is the lowest in the last 13-yrs. This is on the back of a -6% reduction in the trade deficit and +11% increase in remittances
The board of FFC PA (-4.73%) approves in principle to evaluate a potential merger with FFBL PA (-2.36%). FFC PA currently holds 49.88% of FFBL PA and the potential merger is expected to allow synergies which are likely to add value to the combined enterprise and enhance future returns to shareholders
Political noise is likely to subside next week and the market is expected to recover Friday’s losses.

Courtesy – AHL Sales