Pakistan stock market saw a positive week as Karachi stock exchange -100 index rose by 517 points during the week.The index also touched its all time high point of 40000 points.This shows growing confidence of the investors on the Pakistan stock market.Oil and gas sector lead the mercurial rise of the domestic market during the whole week.
Karachi stock exchange -100 index started the trading week at 39390 points and ended the trading week at 39907 points.The weekly share trading volume showed an increase of 17.82 % as compared to the last week’s volume.The weekly share trading of this week was 1325.5 million shares as compared to the last week’s volume of 1125 million shares.Foreign investors remained uninterested in the domestic stock market and they sold net equity of $ 1.0 million during the whole week.
Source : Express Tribune
Pakistan stock market started the week at a positive note and continued its upward movement throughout the week.The positive movement in the international oil prices was the most important reason for the positivity in the local market.The good corporate results of banking sector and better financial results of the cement sector also played an important role in influencing the Pakistan stock market during the week.The auto sector was also a good performer of the week and investors showed considerable interest in the auto sector.Following are the gainer and loser companies of the week.
Top gainers of the week
Top losers of the Week
|Philip Morris Ltd.||1,341.00||1,341.00||1,341.00||1,341.00||-70.13||1,341.00||20.00|
Source : KHI Stocks
Best Performers of the Week
Energy ,cement and banking sectors were three top performers of the week.They played an important role in the rise of the index during the week.Their main shares contributed positively in the progress of the Pakistan stock market.
Pakistan Petroleum and OGDCL were the two best performers of the Oil and Gas sector.The share prices of PPL and OGDCL increased by 4.9% and 2.00 % during the week.The shares of PPL and OGDCL added 70 points and 49 points to the Karachi stock exchange -100 index during the week.
UBL and HBL were the top performing companies in the banking sector.The HBL share added 144 points to the Karachi stock exchange-100 index during the week.The share prices of the HBL and UBL increased by 3.3 % and 8.1 %.
Cement sector was another top performer of the week. Attock cement,bestway cement and Lucky cement were three main performers of this sector.The share prices of Attock cement,bestway cement and Lucky cement increased by 3.44 % ,5.68 % and 1.66 % during the week.
Market analysts are quite upbeat about the upcoming trading week at the Pakistan stock market.According to to them positive corporate results will influence the market proceedings in the upcoming days. They are also expecting a resistance for the Karachi stock exchange -100 index at 40000 points level.
Increasing political unrest in the country is raising eyebrows among the business circles. Opposition parties are planning to increase pressure on the PML-N government. PTI has started its corruption eradication from 7th august 2016. PTI has threatened prime minister to face dire consequences for its corruption based policies in last few decades.These unstable situation can cause damage to the progress of the Pakistan stock market.
Cement sector is still the most attractive sector for the long and short term investors. Investors should adopt buy and hold strategy to get long term gains from their investments.by