has experienced a contradictory behaviour compared to equities in
other countries after September 11, 2001. While mounting tension
between India and Pakistan remained a source of concern for a while,
hectic diplomatic efforts have subsided apprehensions considerably.
With the reprofiling and restructuring of Pakistan's external debt,
stabilizing of exchange rate and improving sovereign rating, funds are
expected to flow to equities market. With the beginning of new year
both institutional and large investors have become active. Though
there are apprehensions about the sustainability of the trend, punters
are very positive about the outlook. However, the forecast for
enhanced activities demands vigilant monitoring by the regulators to
curb activities of market manipulators.