Karachi, June 01, 2023 (PPI-OT): Pakistan Strategy - May’23 Market Review and Outlook

KSE100 Index closed on a negative note during the month, with the index decreasing cumulatively by 250ppts to end at 41,331 points, a decline of 0.6%MoM

In April'23, Pakistan recorded a current account surplus of US$18mn, a significant decrease from the previous month's surplus of US$750mn.

Cement, paper and board and food sectors remained in the limelight on the main board during May’23, majorly due to declining coal prices internationally and overall sentiment regarding increasing authorized share capitals.

With regards to the FIPI movement, E and Ps and Banks remain the favourites of foreigners with net buy of US$7.8/0.3mn, while Food and Others remained the least favourite with a monthly outflow of US$3.2/3.15mn.

Going forward, a successful IMF program following the annual budget to be announced in early June’23, alongside much sought after political stability will determine the market’s fate.