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Karachi stock exchange -100 index fell by 581 points amid regional instability

Stock market saw a bad week as Karachi stock exchange -100 index lost 581 points during the week.The rising Pakistan/India tensions and fluctuations in the international oil prices are two main reasons for the negative sentiment at the stock market.The international crude oil prices started the week at $ 43.30 /barrel and ended the week at $ 44.48/barrel.

Domestic and foreign investors mostly remained uninterested in Pakistan stock market.Foreign portfolio investment saw a gradual fall during the week.The foreign investors offloaded net equity of $ 16.04 during the week.

The Karachi stock exchange -100 index started the week at 40363 points and ended the week at 39781 points.The weekly share trading volume saw a considerable increase.The market got highest weekly volume in last 11 years.This is a very encouraging sign for the progress and development of the local stock market.

stock-market

The Karachi stock exchange -100 index followed a seesaw path during the week.It started the week on a  positive note as it climbed 51 points during the first trading day of the week.But index failed to continue its upward momentum.Karachi stock exchange -100 index saw a brief period of recovery on Thursday.The index climbed up 363 points on that day.This recovery was due to well-balanced PM speech in the United Nations.

Best and Worst Performers

Tobacco ,cement and Auto sector were the main gaining sectors during the week.Their main shares performed very well thorough the week.They contributed in the rise of the Karachi stock exchange-100 index.

If we talk about the Tobacco sector,Khyber Tobacco ,Pakistan Tobacco and Phillip Morris were best performing stocks.The share prices of Khyber Tobacco ,Pakistan Tobacco and Phillip Morris increased by 20.74 % ,5.39 % and 4.93 % respectively during the week.

If we talk about the auto sector ,Honda Atlas was best performing stock.The share prices of cement sector,Attock cement,best way cement and flying cement increased by 9.93 %  .

If we talk about the cement sector,Attock cement,best way cement and flying cement were best performing stocks.The share prices of cement sector,Attock cement,bestway cement and flying cement increased by 0.54 % ,4.75 % and 12.48 % during the week.

Banking sector was the worst performing sector of the week.The prices of its main shares fell during the week.

karachi-stock-exchange-100-index

Future Outlook

Market analysts are expecting a mixed trend in upcoming days.The unstable regional political environment,Anti-corruption movement by PTI and fluctuating oil prices are three main factors influencing the stock market activity.

The war mongering attitude of attitude of India is really hurting the stock market.It is creating panic in the minds of investors.India should conduct a detailed investigation of the Uri attacks to get the idea of perpetrators. This blame game is not good for both countries.India and Pakistan should solve this matter as soon as possible.

The upcoming Raiwind march by PTI will also affect the market activity in next week. PTI is planning to hold a big gathering in Raiwind near the residence of prime minister Nawaz sharif. It is a protest against the alleged corruption of the Prime minister and his family.

The international oil prices will also affect the market activity in upcoming days.It is expected that oil prices will fall further in the international market.

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About Emaad Qureshi