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Weekly Karachi Stock Market Report (From 30 June 2014 to 4 July 2014

 

KSETrading volumes at Karachi Stock Exchange (KSE) observed a dynamic down turn during last week. It went down with 34%, in addition to the ADTO clocking in at 106 million shares. The volume change has been anticipated due to start of Ramadan. However the KSE 100 index closed on 29,620 points after gaining 276 points of 0.9 week on week. Analysts are anticipating the same downward trend in the volume during the upcoming week as well due to the investors’ sentiments during Ramadan. Average daily value traded also fell down with 28 percent week on week basis to 60 million US Dollars. In the midst of this month, State Bank of Pakistan will be present the review of monetary policy, which will also be impacting significantly on the trading activity. Investors are about to keep an eye on the news of monetary policy review presentation.

Following is the list of top gainers, losers and volume leaders with their current market capitalization:

  Top Gainers Top Losers Volume Leaders
Wyeth Pakistan Ltd [142,161,000] Rafhan Maize Products Ltd [92,364,000] Pakistan Telecommunication Ltd (A) [37,740,000,000]
Shezan International Ltd [60,000,000] Nestle Pakistan [453,496,000] Sui Southern Gas Pipline Co Ltd [8,389,680,000]
Packages Ltd [843,795,000] Pakistan Tobacco Co Ltd [2,554,938,000] BYCO Petroleum [9,778,587,000]
Khyber Tobacco Co Ltd [12,018,000] Colgate Palmolive (Pakistan) Ltd [479,549,000] Lafarge Pakistan Cement Ltd [13,126,445,000]
Indus Motor Co Ltd [786,000,000] Bata Pakistan Ltd [75,600,000] The Bank of Punjab Ltd [15,551,131,000]
Fateh Industries Limited [20,000,000] Island Textile Mills Ltd [5,000,000] Arif Habib Corporation Ltd [4,537,500,000]
Thal Limited [405,150,000] Sanofi-Aventis Ltd [96,448,000] Fauji Cement Co Ltd [13,311,158,000]
Pakistan Refinery Ltd [350,000,000] Exide Pakistan Ltd [77,686,000] Sui Northern Gas Pipelines Co Ltd [6,342,166,000]
Mahmood Textile Mills Ltd [150,000,000] Indus Dyeing & Manufacturing Co [180,737,000] Engro Corporation Limited [5,169,697,000]
Service Industries Ltd [120,288,000] Siemens (Pakistan) Engineering Co Ltd [82,470,000] Telecard Ltd [3,000,000,000]

Following is a list of news that affected the trading activity at KSE during the previous week:

  • Power sector receivables have reached to an alarming level. 26.5% of the electricity provided is on credit or pending. They remained unsuccessful in collecting the electricity bills from public sectors and many domestic users.
  • Federal government has offered new rates of Gas Infrastructure Development Cess (GIDC). The rates are variant for several sectors of the country’s economy.
  • Pakistan Bureau of Statistics (PBS) has revealed the Consumer Price Index (CPI) for the month of June i.e., 8.2% compared to the last month’s CPI as 8.3%. However it went below than the expectations. It was being anticipated to stand on 8.6% in June.

KSE

  • Government of Pakistan has finally approved a coal based electricity generation project which is expected to produce 4250 Mega Watts
  • Most liquid foreign reserves have fallen down with an amount of 273 million USD. This has caused a major effect on the trading activity last week, especially in the case of foreign investors.
  • Threatening political situation is thought provoking, thus investment flow has been turned to the other foreign markets. Even the local investors are reluctant in making giant deals in stock trading at Karachi Stock Exchange.

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About Emaad Qureshi