Trading improves on KSE

KARACHI (December 08 2008): Trading at Karachi share market improved during the week ending on December 7, 2008, with average daily volume increasing by 300 percent to 197,300 shares as compared to the previous week's 64,920 shares. However, KSE-100 index remained unchanged at 9,187.10 points, while no trading was seen at the futures counter.Market capitalisation declined by Rs 3 billion to Rs 2.817 trillion. A fresh inflow of $1.203 million of foreign portfolio investment at the equity market was witnessed. "The average daily volume reflecting investor confidence in the market jumped by a deceptive 301 percent, demonstrating a low base effect", Muniba Saeed, an analyst at Invest Capital & Securities said.With the floor scoring a century during the week, being in place since August 28, the KSE-100 index practically stagnant at the level of 9,187 points as activity remained insufficient to cause any visible movement in the index.The week was exceptionally eventful with terrorist attacks breaking out in Mumbai, and attention of the leadership was diverted towards effective dealing of political nuances arising after the attack. Besides, decrease in petrol and diesel prices, along with a 26.4 percent increase in forex reserves cheered up investor interest. However, all this was overweighed by uncertainty brought about with Pakistan's admission in the IMF programme.