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Weekly Karachi Stock Exchange Report -Upward trend continued in the Karachi Stock Market

karachi stock ExchangeKarachi Stock market continued its upward trend this week,as the stock market  gained 417 points during the week.The Karachi Stock Exchange-100 index started the week at  34027 points and ended the week at 34443 points.The index value increased by 1.27% from  Rs 7.91 Trillions to Rs 8.01 Trillions during the trading week.The weekly share trade volume decreased by 1.3 % during the week.Following were the top gainers and losers at the Karachi Stock Exchange.

 

Top 10 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 11,300.00 11,646.88 346.88 11,860.00 11,000.00 11,456.22 360
Nestle Pakistan [453,496,000] 10,400.00 10,500.00 100.00 10,920.00 10,070.00 10,588.86 420
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,811.15 1,900.00 88.85 1,996.75 1,815.00 1,900.85 4,380
Packages Ltd [843,795,000] 673.93 743.02 69.09 750.00 670.00 706.34 635,300
Abbott Laboratories Pakistan Ltd [979,003,000] 663.10 719.35 56.25 721.00 645.25 692.03 75,050
Murree Brewery Co Ltd [230,530,000] 1,020.00 1,069.75 49.75 1,099.00 970.00 1,037.31 15,640
Pak Suzuki Motors Co Ltd [822,999,000] 401.01 429.27 28.26 439.70 407.00 423.02 2,020,600
Mari Petroleum Company Limited [1,102,500,000] 580.18 602.91 22.73 635.00 586.00 611.21 2,996,450
Otsuka Pakistan Ltd [110,000,000] 89.13 110.25 21.12 110.25 86.10 99.06 277,000
Indus Dyeing & Manufacturing Co [180,737,000] 900.00 919.99 19.99 919.99 919.99 919.99 50

 

Top 10 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Bata Pakistan Ltd [75,600,000] 4,100.00 3,900.00 -200.00 4,090.00 3,895.00 3,914.38 360
Wyeth Pakistan Ltd [142,161,000] 4,010.00 3,811.00 -199.00 3,811.00 3,811.00 3,811.00 20
Unilever Pakistan Food Limited [61,576,000] 8,600.00 8,411.00 -189.00 8,650.00 8,411.00 8,620.33 40
Shezan International Ltd [79,860,000] 1,400.00 1,300.00 -100.00 1,430.00 1,300.00 1,345.97 6,450
Fazal Textile Mills Ltd [61,875,000] 550.00 465.00 -85.00 550.00 462.65 497.03 4,000
Exide Pakistan Ltd [77,686,000] 1,874.88 1,793.17 -81.71 1,949.97 1,720.00 1,835.51 2,520
Mitchells Fruits Farms Ltd [78,750,000] 698.03 625.88 -72.15 727.00 601.72 651.52 33,850
Island Textile Mills Ltd [5,000,000] 872.10 800.00 -72.10 828.50 787.08 817.83 1,850
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,258.69 1,187.40 -71.29 1,250.00 1,185.00 1,225.60 3,100
Indus Motor Co Ltd [786,000,000]

According to the stock market analysts,100 points discount rate reduction by the central bank was  the main reason for this upward trend in the Karachi stock market.Cement and the food sectors were the prime beneficiaries of the market boom ,as their share prices increased by 4.5 % and 7.2 % respectively. These two sectors collectively added 276 points in the Karachi stock Exchange-100 index during the week.On the other hand Oil and gas sector showed a disappointing performance this week ,as earnings results were not so good for the sector.

Karachi stock exchange

Following the trend of the market ,foreign investors also increased their investments in the equity market,as they invested more than $3.3 million in the market in the week.These investors were mostly influenced by the financial results announced during the week and the discount rate reduction.

Following were the mot important news that affected the proceeding of the stock market during the week

  • Central bank of Pakistan decreased the discount rate by 100 Bps.
  • Foreign investors increased their investments in the equities by 101 percent
  • Government approved the Thar-coal fired projects
  • Inflation figures for the January are expected to be lower than the previous month
  • Political tensions rose after the killing of the MQM worker in the Karachi.
  • International oil price touched $50 pr barrel mark this week.

Future Prospects

Market analysts and investors are really upbeat about the market for the coming week.They are expecting a very interesting week,as it is expected that inflation figures for the January will be low and it will further force the stock traders to invest more in the market.So it is quite possible that upward will continue in the next week.

Karachi stock market and the overall economy is showing very good signs of recovery for the last 4-5 weeks,but the energy crisis and law order situation are posing a huge threat for them.So experts are advising government to focus its all energies towards solving these two burning issues,as their solution is very important for the country and the economy.

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About Emaad Qureshi