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Market Review : Downfall continues but Karachi stock exchange-100 index showed some recovery

karachi stock ExchangeKarachi stock exchange 100 index lost 334.57 points during the week,as the downfall continued for the Karachi stock market . Panic selling by the foreign investors was the prime reason for this sliding performance of the market.Foreign investors sold net equity of about $28.5 million during the week.

Karachi stock exchange-100 index started the week at 33263.66 points and ended the week at 32929.06 points.The average weekly shares trading volume showed a decrease of about 18% during the week.This week weekly shares trading volume was about 707 million shares as compared 863 million shares.Following are the major gainers and losers at the Karachi stock market during the week.

Top 10 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Shezan International Ltd [79,860,000] 982.38 1,096.50 114.12 1,097.00 894.10 982.75 1,100
Pakistan Services Ltd [325,242,000] 479.58 553.87 74.29 553.87 503.55 528.22 300
Rafhan Maize Products Ltd [92,364,000] 10,385.00 10,450.00 65.00 10,450.00 9,832.50 10,075.13 120
Pakistan Refinery Ltd [350,000,000] 144.25 173.76 29.51 173.76 139.00 157.82 1,357,100
Burshane LPG (Pakistan) Ltd [226,400,000] 69.43 88.58 19.15 88.58 68.75 79.81 500,500
Murree Brewery Co Ltd [230,530,000] 1,011.86 1,029.00 17.14 1,049.49 950.00 985.76 2,160
Attock Petroleum Limited [829,440,000] 535.00 551.64 16.64 554.00 520.10 531.16 164,550
Ferozsons (Laboratories) Ltd [301,868,000] 538.83 553.56 14.73 553.83 495.05 527.32 156,800
Synthetic Products Enterprises Limited [773,500,000] 51.35 64.25 12.90 64.61 51.50 58.21 5,834,500
Punjab Oil Mills Ltd [53,906,000] 163.69 175.87 12.18 198.33 168.00 181.54 63,900
Top 10 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 9,900.00 9,024.10 -875.90 10,395.00 9,024.10 9,639.80 340
Bata Pakistan Ltd [75,600,000] 3,900.17 3,749.99 -150.18 3,780.00 3,706.00 3,659.08 140
Exide Pakistan Ltd [77,686,000] 1,439.04 1,300.00 -139.04 1,569.00 1,290.00 1,383.25 18,300
Wyeth Pakistan Ltd [142,161,000] 2,837.00 2,700.10 -136.90 2,780.00 2,695.20 2,731.90 160
Indus Dyeing & Manufacturing Co [180,737,000] 803.80 701.00 -102.80 785.82 701.00
Pakistan Tobacco Co Ltd [2,554,938,000] 900.91 798.25 -102.66 865.00 789.65 829.50 1,900
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,819.59 1,750.00 -69.59 1,750.00 1,750.00 1,741.45 40
Sanofi-Aventis Ltd [96,448,000] 749.99 707.99 -42.00 762.98 666.00 711.63 3,400
Atlas Battery Ltd [173,996,000] 782.00 741.00 -41.00 801.00 699.00 761.97 10,300
Gillette Pakistan Ltd [192,000,000] 402.50 366.00 -36.50 382.38 366.00 372.82 500

Courtesy : Business Recorder

 

Following news influenced the proceedings of the Karachi stock market during the week

  • Foreign remittances increased by 14.6 % during the first eight months of the financial year 2014-15.They were $11.75 billion in first eight month of the current financial year.
  • Foreign investors sold net equity of about $28.5 million during the week
  • Government has proposed to increase the gas prices
  • Trade deficit increased by 46 % in the month of February as compared to January.It was $1.46 Billion in the month of February 2015 as compared to January 2015
  • SECP has announced to solve all outstanding of the brokers related to the market.

 

Karachi stock Market

Courtesy : Express Tribune

Stock market experts are expecting an improved performance of the market next week.It is expected that inflation figures of the last month and IMF review will pave the way for smooth trading in the Karachi stock market.The upcoming polices of the SECP regarding solution of the issues faced by the traders will also play an important in the development of the market in coming weeks.

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About Emaad Qureshi