The benchmark index started the week on an exciting note as investors welcome the FY22 budget and the KSE-100 Index surged by 421pts. However, the bourse then followed a declining path as profit-taking emerged due to uncertainty related to approval of budget FY22 from IMF. During the week, the benchmark index marked it’s high and low at 48,982 and 48,023 points before it settled with a meager loss of 66pts WoW at 48,239.

The average daily turnover jumped to 42% WoW as it clocked in at 442mn as compared to the previous week’s level of 310mn shares, while value traded surged by 25% WoW to PKR 17.4bn. The oil scrips shined in the market as crude oil prices remained on an upward trajectory during the week and peaked at $72.15. The jump was mainly due to the resumption of economic activities across the world.

Courtesy – Spectrum Research’