Stock Market at a Glance

MARKET THIS WEEK Devoid of any notable triggers, the market depicted a range bound trend closing almost flat WoW (-0.5%). Despite positive FPI flows this week (US$4.78mn net inflow versus US$16mn net outflow last week), investors chose to stay on the sidelines with volumes declining 44% WoW. Amongst the week's newsflow, the two worth highlighting include: 1) Moody's maintaining its B3 credit rating with a stable outlook for Pakistan and 2) announcement to restore the forward cover facility by the SBP, after remaining suspended since 2008.