Stock Market at a Glance

MARKET THIS WEEK The law and order situation stole the headlines in a chaotic week cut short by an additional holiday on Friday. The benchmark index alternated between the green and red but ultimately ended the week flat (+0.1% WoW). Cumulative foreign inflows in the four trading sessions were recorded at US$0.99mn versus US$4.8mn outflow in the comparable period last week. Volumes declined by 8% on low investor participation however value traded marginally increased by 2%. For corporate results, the short week was a mixed one with Indus (EPS: PRs34.9; DPS: PRs10.0) and LOTPTA (EPS: PRs0.8) both reporting above-expected set of numbers. Packages, on the other hand reported a dismal LPS of PRs3.97 plagued by higher raw material prices and increased finance costs. From a macroeconomic perspective, news flow suggested that the base year for price index calculations was being altered along with the weight-ages of certain components, although clarity on the same is yet to emerge.