Saturday, 28 June 2008

Depressed Karachi stock market volumes

The Karachi stock market has seen a slump in trading volume in the wake of rollover week pressure and the falling rupee value against the US dollar. Extremely low volumes of between 26m and 35 million shares are currently being seen.

The rupee pressure has seen currency balances fall to near to USD 195 million, reflecting foreign outflow. Volume has also been hit by the downside cap on price movements of one percent. Good two way business is still being seen in KESC, MCB Bank and EFU General Insurance.

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