ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Who Calls the Tune

Picture of Gloom Nishtar THE stock market has staged a further retreat which takes it to a point almost half-way between its January low and June high. Political uncertain- lies and prospects of a drastic budget in February, if not earlier, have unnerved speculators and investors alike. Though selling has seldom been heavy, equity prices have moved down rather sharply as the market has been virtually bereft of fresh support, The corporate news was quite encouraging but higher dividends and bonus issue announcements brought little cheer to a market which now presents a picture of gloom. Nor could the market take any comfort from the statement by the Minister of State for Finance that Government did not intend to introduce an interim budget. Whoever takes such statements seriously?

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