Karachi stock Exchange showed a upward movement this week as KSE-100 index climbed 553 points,which was mainly due to good market news and improved political situation. KSE-100 index started at 30377 points on Wednesday and closed at 30930 points on Friday. The investors mostly showed their interest in banking and cement sectors.Top 5 gainers of the week at Karachi stock exchange were the following companies.
|Maple Leaf Cement||31.62||32.15||32.26||31.66||31.66||0.04||0.13%||8,523,500|
|Fauji Fert Bin||41.20||41.24||42.42||41.24||41.80||0.60||1.46%||6,696,50|
Following important news affected the stock market during the week.
(i) Government has just decided to divest 10% shares of the OGDCL .
(ii)Prime Minister of Pakistan visited China for improving trade ties and he signed worth $42 billion agreements
(iii) Expected Chinese investment in the dams and also in the local housing sector
(iv) Foreign buying increased during the week
(v) Foreign exchange reserves increased by 1.8 %
Stock analysts are expecting a steep rise in the index due to positive trend in the Karachi Stock Exchange. This market increase will be mainly due to increased local buying.It is expected that banking and cement sector will receive most of the investment at the Karachi Stock Exchange. So this means investor must hold their investments in these sectors.Government should also play its role in solving the political uncertainty,as it will help in creating suitable environment for the stock investment and will also attract more investments.by