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Weekly Karachi Stock Exchange Report -A Moderate week for the Karachi Stock Market

karachi stock ExchangeKarachi Stock Exchange showed a mixed performance this week,as the KSE-100 index rose by 241 points during the week.The stock market was going well and the market index touched 34330 points on Wednesday ,but it was pushed down by continued selling by big investors present in the market .Karachi Stock exchange started the week at 33786 points and ended the week at 34027 points.The index value increased by 0.74% during the week,as it increased from Rs 7.86 Trillion to Rs 7.91 Trillions.The average weekly share trade volume showed a downward slide,as it decreased from 1657 million shares to 1511 million shares.

The average investor’s sentiment about the stock market is still quite positive even after bad news about the economy in the wake of power and petrol shortages in the country.Following are the top 10 gainers and losers of the market during the week.

Top 10 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 8,402.50 8,600.00 197.50 8,799.00 8,600.00 8,590.00 100
Indus Motor Co Ltd [786,000,000] 896.40 1,075.15 178.75 1,077.00 865.00 974.46 749,950
Shezan International Ltd [79,860,000] 1,300.00 1,400.00 100.00 1,400.00 1,300.00 1,337.55 7,350
Mari Petroleum Company Limited [1,102,500,000] 499.46 580.18 80.72 607.08 504.01 565.42 4,934,250
Sapphire Textile Mills Ltd [200,831,000] 485.00 547.57 62.57 548.67 495.00 505.40 12,800
Indus Dyeing & Manufacturing Co [180,737,000] 838.97 900.00 61.03 900.00 879.90 889.95 100
Bhanero Textile Mills Ltd [30,000,000] 459.10 510.00 50.90 534.95 482.05 514.55 8,150
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,224.20 1,258.69 34.49 1,299.00 1,235.00 1,263.51 19,020
Atlas Battery Ltd [173,996,000] 876.75 908.00 31.25 940.00 878.50 914.56 45,750
Sitara Chemicals Industries Ltd [214,295,000] 332.96 360.00 27.04 365.00 330.00 353.12 175,600

 

Top 10 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 10,999.00 10,400.00 -599.00 10,500.00 10,202.00 10,301.07 420
Rafhan Maize Products Ltd [92,364,000] 11,892.50 11,300.00 -592.50 11,500.00 11,300.00 11,180.62 40
Colgate Palmolive (Pakistan) Ltd [479,549,000] 2,050.00 1,811.15 -238.85 2,241.00 1,806.74 2,026.71 5,140
Fazal Textile Mills Ltd [61,875,000] 598.00 550.00 -48.00 575.11 545.00 558.63 2,750
Murree Brewery Co Ltd [230,530,000] 1,064.67 1,020.00 -44.67 1,065.00 1,000.00 1,029.60 5,920
Archroma Pakistan Limited [341,182,000] 636.55 597.66 -38.89 642.00 591.00 614.18 109,450
National Foods Ltd [518,034,000] 433.73 395.40 -38.33 446.96 395.00 415.77 189,100
Sanofi-Aventis Ltd [96,448,000] 748.00 710.10 -37.90 775.00 701.00 726.46 7,850
Abbott Laboratories Pakistan Ltd [979,003,000] 700.63 663.10 -37.53 704.00 656.00 687.07 31,600
Mitchells Fruits Farms Ltd [78,750,000] 731.21 698.03 -33.18 745.00 693.00 722.95 12,500

 

 

The Oil and fertilizer sector showed a very good performance this week and they collectively added about 291 points in the index .Fauji fertilizers,Engro fertilizers and OGDCL benefited most from the positive developments in these two sectors.The small recovery in international oil prices and the positive new about the fertilizer industry were main causes of investor’s interest in these sectors.Foreign investors also showed considerable interest in the stock market,as foreign investors bought stocks of value more than $6 Million this week.

Karachi stock exchange

 

Following are the main news that affected the market during the week

  • The international oil prices improved during the week
  • The central bank is planning to decrease the interest rates by at least 1%
  • The government of Pakistan has announced to spend Rs 40 Billion to control the petrol crisis prevailing in the country
  • Hubco is planning to set up  a 1,320-megawatt coal-fired power plant in the country.
  • Electricity and gas load-shedding increased in the country.

Future Prospects

The market analysts and investors are very optimistic about the future of the stock market,especially after the central bank’s decision to decrease the discount rate by 1%.So it is expected that discount rate will surely cause the Karachi stock exchange to climb in next week. The growing energy crisis and the political instability are the two main areas of concern for the government,as economy is gradually recovering after years of bad performance.So according to the stock market experts,these two issues can greatly affect the future of the stock market and also the economy.

 

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About Emaad Qureshi