The KSE-100 index remained flat over the week, closing at 16,634.7 points with average daily turnover clocking in at 95.8mn shares, down 35%WoW. The market followed the political noise and reacted optimistically on Friday.
Key news flows during the week included: 1) Issuance of NoC by the SBP to Fauji Foundation for the acquisition of AKBL, 2) a commitment demanded by the IMF from all political parties that the terms of agreement for a fresh 3 year standby agreement (SBA) will be adhered to by the next government and 3) Remittances for 1HFY13 clocked in US$7.2bn, up 12.5%YoY.
Today’s Report also contains pick of the week, “Fauji Cement Company Limited”
To Download Complete Report: CLICK: KSE MARKET SUMMARY 14 January 2013