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Weekly Karachi Market Report (From 14th July 2014 to 18th July 2014)

KSEKSE 100 index shot an all time highest benchmark i.e., gained 907 points or 3.1 percent and reached to a highest level of 30,224.89 points compared to last week’s 29,318.06 points. After seeing a bearish momentum through the past couple of month, KSE 100 index kept the volumes up and crossed the psychological barriers on last Thursday, July 17- A day prior to market closure.
The rise has been observed solely due to the Pakistan’s economic rating released by the rating agency Moody. That caused the foreign investors to stay in act with the high volumes of stock buyout. The top traded sectors of this week were Oil & Gas and banking. These both sectors observed high volumes traded throughout the week by the both i.e., local as well as by the foreign investors. According to the Moody’s report, five commercial banks have been reported as from negative to stable, thus banking sector’s trading boosted up.
The record high has been observed after so many months without any speculative activity. The market has now fully observed the impact of CPI announcement as well of the federal budget 2014-15 released in June’ 14.
Foreign investors took over the key place amongst the KSE investors last week. They bought the equity stocks worth 24.2 Million US dollars. The volume is 192% of the previous week’s net buyout of the foreign investors in the KSE.
Following is a list of top ten losers, gainers, and the volume leaders along with their market capitalization in PKR:

 

  Top Gainers Top Losers Volume Leaders
Rafhan Maize Products Ltd [92,364,000] Wyeth Pakistan Ltd [142,161,000] Fauji Cement Co Ltd [13,311,158,000]
Bata Pakistan Ltd [75,600,000] Shezan International Ltd [60,000,000] Lafarge Pakistan Cement Ltd [13,126,445,000]
Murree Brewery Co Ltd [230,530,000] Pakistan Tobacco Co Ltd [2,554,938,000] K-Electric Limited [96,653,179,000]
Philip Morris (Pakistan) Limited [615,803,000] Sanofi-Aventis Ltd [96,448,000] Maple Leaf Cement Factory Ltd [5,277,339,000]
ICI Pakistan Ltd [923,590,000] Indus Dyeing & Manufacturing Co [180,737,000] Pak Elektron Ltd [2,949,223,000]
Nestle Pakistan [453,496,000] Pakistan Services Ltd [325,242,000] Hascol Petroleum Limited [906,000,000]
Siemens (Pakistan) Engineering Co Ltd [82,470,000] Bhanero Textile Mills Ltd [30,000,000] D.G. Khan Cement Co Ltd [4,381,191,000]
Fateh Industries Limited [20,000,000] EFU General Insurance Ltd [1,600,000,000] Jahangir Siddiqui & Co Ltd [7,632,853,000]
Hino Pak Motors Ltd [124,006,000] Fazal Textile Mills Ltd [61,875,000] National Bank of Pakistan [21,275,128,000]
Pakistan Oilfields Ltd [2,365,459,000] Al-Abbas Sugar Mills Ltd [173,623,000] United Bank Limited [12,241,797,000]

ks

 

Following is the list of corporate activity and macroeconomic news which affected the trading activity at most:

  • Moody’s reported boosted up the trading activity especially in the case of foreign investors. Sustained trading further resulted in hitting record highest level of KSE-100 index
  • Weekly inflation as per calculation of Sensitive Price Inflator (SPI) has gone up on noticeable rates. Ramadan subsidies do not sufficiently seem to be in action to support the poor in the country
  • Export of fisheries has observed a steep rise i.e., 15.25 percent. The increase is a supportive indicator for economy’s growth and to grab exchange payments
  • Exports of sports related goods have been reported to observe an increase with 7.49 percent
  • Sheheryar Ali Malik has succeeded the previous chairman of Brand and Marketing at Federation of Pakistan Chamber of Commerce and Industry (FPCCI)
  • Trade with India has been securitized by the stakeholders. It will be a kind of negative impact over the business society in Pakistan
  • State Bank of Pakistan has brought the interest rate at the previous level of 10 percent again after revising the Monetary policy of Pakistan

 

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About Emaad Qureshi