Pakistan stock market saw a positive week as Karachi stock exchange -100 index rose by 183 points during the only day of the shortened week.The trading week was shortened due to Eid holidays.The Pakistan stock market remained closed from Tuesday to Sunday due to the Eid holidays. These holidays also affected the trading volumes at the market.
The investors remained cautious due to upcoming Eid holidays.Domestic and foreign investors took a backseat as they were mostly thinking about the Eid holidays.The prices of 96 companies decreased and 205 stocks companies decreased.The foreign investors were net buyers as compared to the last week.They bought net equities of Rs 253 million during the week.
The Karachi stock exchange-100 index started the week at 37784 points and ended the week at 37966 points.The weekly trading volume was 110 million shares as compared to the last week’s share trading volume of 572.174 million shares.This is 80 % decrease in the share trading volume ,if we compare volumes of both weeks.The shortened week due to Eid holidays also caused trading volumes to drop with such a high ratio.
Best and worst Performers of the week
Oil and gas sector was the best performer of the week.Its main stocks such as Pakistan petroleum limited,Oil and gas development limited and Pakistan oil fields all made considerable progress during the week.The shares of Pakistan Petroleum,Oil and Gas development limited and Pakistan oil fields grew by 1.87 %,1.35 % and 1.49 % respectively during the week.Sui Northern gas also showed some recovery as its share prices grew by 4.76 % during the week.
Some Cement and Food sector shares showed bad performance during the week.Cement sector shares like Lucky cement showed bad performance. Lucky cement share price decreased by 0.58 % during the week.Food sector shares such as Engro foods limited was a bad performing stock.Its share price decreased by 5.05 % at the Pakistan stock market.Following are major gainer and loser companies of the week.
|Rafhan Maize Products Ltd [92,364,000]||7,570.00||7,570.00||350.00||7,570.00||7,570.00||7,503.57||20|
|Pakistan Tobacco Co Ltd [2,554,938,000]||1,300.00||1,300.00||39.45||1,300.00||1,300.00||1,300.00||60|
|Mari Petroleum Company Limited [1,102,500,000]||909.98||931.10||22.88||945.00||905.10||929.39||273,500|
|Ghandhara Industries Ltd [213,044,000]||411.00||426.18||20.29||426.18||411.00||422.46||130,300|
|Abbott Laboratories Pakistan Ltd [979,003,000]||716.31||772.73||18.73||785.00||716.31||768.70||1,250|
|Colgate Palmolive (Pakistan) Ltd [479,549,000]||1,460.00||1,460.00||-65.00||1,460.00||1,460.00||1,460.00||20|
|Service Industries Ltd [120,288,000]||860.06||868.45||-15.80||880.00||843.01||861.97||2,050|
|Feroze 1888 Mills Ltd [3,768,010,000]||299.20||299.20||-15.74||299.20||299.20||299.20||500|
|Sapphire Fibres Ltd [196,875,000]||540.00||545.00||-15.00||545.00||532.10||539.03||150|
|Pakistan Int. Container [1,091,532,000]||323.00||325.03||-11.47||326.00||323.00||324.68||300|
Source : Business Recorder
Market analysts are expecting a mixed trend in the first week after the week.The domestic political environment and energy prices in the international market will play most important in affecting the Karachi stock exchange -100 index. PTI and other opposition parties have decided to launch street protest in next week.Currently there is a political deadlock between opposition and government parties.Government has failed to resolve the panama leaks issue on time and it must be ready to face violent opposition from the opposition parties such as PTI. Market analysts believe that panama leaks issue will continue haunting the Pakistan stock market until its amicable solution.by