100 Index remained relatively unmoved during the past week as it recovered almost all of the points lost during Monday’s session by closing green in the last four days. The index lost 2.47 percent on Monday but moved to close positive for the last four sessions ending the week at a net positive of 0.03 percent or 13 points.

The index has been under stress from the political movement across the country. With the sentencing of former Prime Minister Nawaz Sharif and Maryam Nawaz, the country was hooked to TV channels in order follow the ousted Prime Ministers’ road to jail. In addition to that, Pakistan’s former President and some of his business associates also made headlines last week when the Supreme Court ordered him to appear before the court to defend the allegations of money laundering. Mr. Hussain Lawai and some other bankers from Summit Bank, Sindh Bank and United Bank Limited have been taken into custody to probe into the allegations of laundering more than Rs. 30 billion with the help of using un-named accounts.

Supreme Court, citing the sensitive political environment, directed the investigations authority to delay proceedings against the former president until after the elections.

Pakistan’s interim Finance Minster Dr. Shamshad Akhtar on Sunday said that “Pakistan might have to approach International Monetary Fund” while discussing the macro-economic issues faced by Pakistan during her visit to the Pakistan Stock Exchange. She said that Pakistan has the ability to negotiate with IMF and increase exports manifold. Finance Minister was visiting Pakistan Stock Exchange when she made these remarks. She also asked the PSX officials to produce a roadmap for capital market development which can be handed over to the next government.

In addition to that, State Bank of Pakistan (SBP) raised policy rate by 100 bps on Saturday said that Pakistan has achieved a 13-year high growth rate during the outgoing fiscal and the country’s inflation was also well within the target.

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