Pakistan Market: Mar’18 Review

Developments on the macro front alongwith relative calm on the political front (Senate elections held on Mar 3’18) drove market performance during the month with the benchmark index gaining 5.4%MoM in Mar’18. In this regard, currency depreciation and consequent firming up of interest rate hike expectations were the most prominent highlights, rejuvenating interest in select sectors (Textiles, Electricity, Oil&Gas and Banks). While foreigners were net sellers during Mar’18, we saw a reversal of tr...