The benchmark KSE-100 index for Pakistan saw its worst decrease in eight quarters (two years), falling 8% on a quarter-over-quarter (QoQ) basis and 12% in FY22.
According to a report by Topline Securities, the benchmark index also declined 17 percent in US Dollar (USD) terms in the second quarter of the current fiscal year (Q2FY22).
According to the research, the market was still being impacted by the IMF program’s delay, rising political unpredictability, inflation, and a widening current account deficit (CAD) during the third quarter. Compared to a rise of 38% in FY21, the KSE-100 index decreased by 12% in FY22.
Pakistan’s performance throughout this time did not place it among the best or worst, according to Bloomberg statistics. The worst-performing markets during the quarter were Sri Lanka (-33%) Namibia (-27%) and Peru (-27%) while the best-performing markets were Lebanon (+145%), Russia (+33%) and Jordan (+11%).
The average daily traded volume in the Cash and Ready market decreased by 63 percent year over year (YoY) in 2Q2022, but it increased by 9 percent quarter over quarter to 250 million shares. During Q2FY22, the average daily traded value decreased by 64 percent YoY while remained unchanged on a QoQ basis at Rs. 7.2 billion.
Additionally, the average daily volumes in the futures market decreased by 28% YoY while growing by 7% QoQ to 106 million shares. To Rs. 3.4 billion per day, the average traded value of the same decreased by 65 percent YoY and 10 percent QoQ.
The main board did not display any initial public offerings (IPOs) during the quarter under consideration. However, Supernet Limited (GEMSPNL) only offered one IPO on the GEM Board during the quarter, raising Rs. 475 million at a strike price of Rs. 22.5 per share.
To read our blog on “Over 2,000 points are lost in 20 minutes on the KSE-100 index,” click here.