The first day of the week has been very dull with low volumes. The Imran Khan saga finally finished in Islamabad where he protested against the rigging in the elections and further said that he would continue to protest in different cities until and unless his demands are met. this has created a kind of political bubble in the making where the incumbent government need to resolve the issue as soon as they can.
This week the monetary policy will be announced as well, other reason for low volumes. whether the government maintains the status quo or cuts the rate by 50 or 100 basis points will be closely watched by the investors and decide the future on how locals invest in the market but at the same time the foreigners individuals and institutions are buying at every opportunity. the figures below represents the net buying and selling of foreigners since the start of 2014 and movement of kse 100 during those months.
| fipi | kse 100 | ||||
| Jan-14 | 31,790,699 | 1288 | rates in $ | ||
| Feb-14 | 9,522,581 | -1108 | |||
| Mar-14 | -5,202,632 | 1133 | |||
| Apr-14 | 91,863,206 | 1244 | |||
| till 12th may | 22,245,528 | 577.25 |
Positive news from IMF and other organizations is helping KSE to attract foreign investment but the question would be whether they would continue to invest in Pakistan since a lot of other markets at the moment are offering quite good returns.
sold pkgs on 10% gain, was going to buy treet corp in the range of 106-110 but it got upper capped, will wait for it to come down to buy in that range. bought IBL Healthcare, a subsidiary of searle company. Cherat packaging looks interesting and will buy it on wednesday by selling Hum network shares on last day of its spot.
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