KSE MARKET TRENDS 26-9-2011
The possibility of fallouts of straining relationship between two allies weighed heavily over the market. Panic selling was witnessed by the local investors whereas positive net flow of $1 million was witnessed from the foreign investors.
Political analyst believes that there is a likelihood of de-escalating in crisis between Pakistan and the US as the former started consultation with some of its close allies including China and Saudi Arabia . The PM of Pakistan also called an All Parties Conference on September 29th to discuss the situation.
The SBP has decided to intervene to halt the depletion in the Pakistani Rupee (PKR) against the US Dollar (USD). PKR traded over Rs. 90 in the open market yesterday.
No comments:
Post a Comment