The KSE-100 Index ended the week at 21,005 points, down by 3.19%WoW, a second consecutive weekly decline after shedding 3.74% last week. Average daily volumes during the week also slipped to 207mn shares, a decline of 35.6%WoW. Major news flows included, i) the government finalized its Energy Policy to ease the energy crisis, ii) the ECC approved settlement of the PkR503bn circular debt in two installments following an MoU with IPPs, iii) the government decided to increase CNG prices by over 80% and withhold a power tariff increase of PkR2.61/unit, iv) IMF expressed displeasure over the recent 50bps cut in DR, and v) the NA passed the Finance Bill 2013 amidst a boycott by the opposition. Top gainers in the AKD Universe during the week included PSMC (+6.3%WoW), PTC (+5.5%WoW), LUCK (+4.5%WoW), FATIMA (+1.7%WoW) and HBL (+1.3%WoW). Losers this week were MCB (-13.7%WoW), ENGRO (-8.2%WoW), DAWH (-6.7%WoW), AICL (-6.2%WoW) and NML (-5.9%WoW). Volumes during the week were led by FCCL (89.37mn shares), PTC (82.75mn shares), MLCF (52mn shares), JSCL (47.26mn shares) and BOP (43.96mn shares).
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