Karachi: The foreign investors pumped in funds of worth $1.6 million at Karachi Stock Exchange (KSE) in the closing week as compared to a net outflow of $0.84 million recorded in the previous week.
The positivity continued this week as well as the market witnessed bullish activities on account of better result season alongside rising oil and fertilizer prices.
Investors remained focused on healthy corporate earnings and the benchmark KSE100 index breached the psychological level of 12,700 points, up 1.69 percent week-on-weekand closed the week at 12,707 points.
The volumes were also better at the bourse as they hit 22-month high at 322 million shares during the second day of the week. Despite swelling country’s current account deficit and ever-rising government borrowings and surge in int’l oil prices, the market sentiments remained positive and the benchmark index continued its run-up to 13,000 points level.
On local front, finance ministry looked realistic to achieve GDP growth of 3.6% in FY12 while Rupee also stayed firm against the Dollar regardless of the IMF repayment of $417 million on the last day of trading.
The average traded volumes during the week stood at 240 million shares, up 37 percent WoW, while average traded value went up by 45 percent to USD 72 million.
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