Karachi equities showed volatility triggered primarily by uncertainty over the Chinese economy and added 0.2 percent Week-on-Week. The KSE-100 index was "dull" and closed at 32,823 points amid lacklustre volumes ahead of Eid holidays.
Trading turnover averaged on 124.2 million shares per day, down 8 percent while the traded value slid by 11 percent to stand at Rs 5.6 billion. During the week under review saw banks, local mutual funds and foreign investors selling net portfolios of $2.0 million, $1.9 million and $1.1 million, respectively.
Major gain was seen in sectors such as technology hardware and equipment (4.7%) and support services (4.3%), and real estate investment and services (4.2%) while major losers were electronic and electrical goods (2.8%) oil and gas (2.5%) and automobile and parts (2.1%).
"Asian markets remained volatile on continued worries about the Chinese economy," said Topline analysts.
They said following the regional market coupled with lack of interest from local investors'' ahead of Eid holidays, the KSE remained dull.
"Shaky sentiments at the bourse kept the market range-bound," said Faizan Ahmed of JS Research.
The analyst said that overall lack of optimism due to the fears of the NAB investigations against high profile industrialists and brokers continued to hamper the market performance despite upbeat corporate valuations.
"Lack of triggers kept the market volatile with activity in selective stocks and shaky uptrend," Ahmed said.
Other key highlights of the week were: LSM numbers, which stood 4.67% YoY higher in July-15, release of oil import numbers (down 41%YoY and 39%MoM in August 2015; down 35%YoY in 2MFY16), release of textile export numbers (up 11%YoY and 8%MoM in August 2015; down 1%YoY in 2MFY16), B3 rating assigned by Moody''s to upcoming Eurobond offering and 20% YoY decline in cotton arrival numbers.
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