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Weekly Karachi Stock Market Report : Another Booming Week for the Karachi Stock Market

karachi stock ExchangeKarachi stock market continued its booming trend of past few weeks and rose by 461 points this week. According to the market analysts renewed foreign buying ,good financial results in the banking sector and the expected discount rate cut were the three main reasons for this encouraging stock market performance.

 

The Karachi Stock Exchange-100 index started at 33324 points and ended at 33786 points on the Friday.The market value increased by 1.43% from 7.75 Trillions to 7.86 Trillions during the week.The weekly shares trade volume at the Karachi stock exchange also showed a significant improvement during the week, it was 1657 shares during the week ,which is 12.2 % improvement as compared to the last week.

The large companies like Hub power,MCB,UBL and Fauji fertilizer were four main players during the week.As the shares of the Hub Power,MCB, UBL and Fauji fertilizer increased by 4.6 % , 4.8%, 3.5 % and 2.2 % respectively. The banking sector alone caused 210 points increase in the KSE- 100 index during the week,which is a very good sign for the banking sector investors.

The oil sector suffered very badly due to drop in the international oil prices.The major oil companies such as OGDC, PPL and POL saw a major drop in their share prices and they caused the index to fall 228 points on Tuesday.Following are top gainers and losers of the week.

Top 10 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Atlas Battery Ltd [173,996,000] 802.04 876.75 41.75 876.75 802.02 864.82 9,550
National Foods Ltd [518,034,000] 433.73 433.73 20.65 433.73 419.00 432.91 131,500
Bhanero Textile Mills Ltd [30,000,000] 452.99 459.10 19.10 462.00 452.99 459.10 500
Mitchells Fruits Farms Ltd [78,750,000] 721.80 731.21 15.12 737.00 713.00 727.58 10,450
Thal Limited [405,150,000] 293.99 305.26 14.53 305.26 293.00 301.81 272,800
Sitara Chemicals Industries Ltd [214,295,000] 321.99 332.96 12.21 335.00 318.51 329.01 31,000
Attock Petroleum Limited [829,440,000] 580.00 588.26 8.45 590.00 570.00 586.60 186,000
Ferozsons (Laboratories) Ltd [301,868,000] 644.93 622.51 8.29 644.93 619.00 636.05 172,050
Mari Petroleum Company Limited [1,102,500,000] 495.01 499.46 8.22 505.00 488.00 497.55 306,150
Pakistan State Oil Co Ltd [2,716,859,000] 352.01 355.33 7.79 357.35 348.50 353.65 3,665,300

 

Top 10 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 8,322.53 8,402.50 -217.50 8,405.00 8,322.53 8,375.84 60
Rafhan Maize Products Ltd [92,364,000] 11,450.00 11,892.50 -107.50 12,000.00 11,450.00 11,820.57 200
Colgate Palmolive (Pakistan) Ltd [479,549,000] 2,050.00 2,050.00 -48.50 2,050.00 2,050.00 2,042.50 80
Island Textile Mills Ltd [5,000,000] 872.10 872.10 -45.90 872.10 872.10 872.10 100
Exide Pakistan Ltd [77,686,000] 1,827.00 1,875.00 -45.00 1,880.00 1,827.00 1,858.28 360
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,224.00 1,224.20 -24.80 1,230.00 1,223.00 1,225.37 820
AKZO Nobel Pakistan Ltd [464,433,000] 469.00 439.83 -22.28 473.99 439.01 446.72 257,600
Khyber Tobacco Co Ltd [12,018,000] 380.31 380.31 -10.55 380.31 380.31 380.31 100
Pakistan Int. Container [1,091,532,000] 330.05 326.50 -10.50 330.05 326.50 327.69 800
Jubilee Life Insurance Co Ltd. [721,188,000] 430.57 439.40 -10.09 448.00 430.56 437.54 4,500

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

  • International oil prices fell below $ 50 a barrel during the week.
  •  Foreign investors bought stocks of amounting more than $17.6 Million during the week
  • Discount rate cut of about 50 base points is expected by the investors
  • Economic data of the first six months of the financial year 2014-15 was released by the government of Pakistan
  • Power shortages increased during the week due to failed energy policy of the government

Karachi stock exchange

Stock Market analysts are expecting booming trend to continue at the Karachi stock exchange in the next week,as  investors are extremely positive about the market. Experts are advising the investors to trade in the banking sector,as it has shown positive financial results for the financial year.Government has also to solve the ongoing energy crisis which is affecting the overall economy of the country and also stock market.The current petrol crisis has multiplied the problems of the businessmen and normal consumers,as it has also increased the electricity and gas load-shedding in the country.

 

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About Emaad Qureshi