Karachi, July 02, 2021 (PPI-OT): KSE100 closes the week flat at 47,686 level

The benchmark KSE100 index closed today at 47,686 level, having gained just 83 points over last week’s closing. Investor participation also declined as average daily volume dipped by 10% WoW to 622mn shares while value traded averaged at US$107mn per day, down 4% from last week. On the news front, the FATF announced last Friday its decision to keep Pakistan on the grey list until all items on the FATF and APG action plans are met. Furthermore, Pakistan formally signed the agreement for the US$4.5bn three-year facility from ITFC to fund imports.

On the economy front, the Finance Bill was passed by Parliament. Moreover, as per Prime Minister Imran Khan’s tweet, inflows in the Roshan Digital Account have exceeded the US$1.5bn mark. A number of other economic indicators were also reported during the week including the Current Account balance (US$153mn surplus during 11MFY21 vs. US$4.3bn deficit in 11MFY20), domestic petroleum sales (19.5mn tons in FY21, up 18% YoY) and a trade deficit (US$30.8bn for the full year FY21, up 33% YoY). The inflation reading for June-2021 came in at 9.7% YoY taking the full year CPI to 8.9%.