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Karachi stock exchange-100 index climbed 279 points on Improved political situation

karachi stock ExchangeKarachi stock Exchange showed a upward movement this week as Karachi stock exchange-100 index jumped 279 points,which was mainly due to good corporate results,local buying and improved political situation. Karachi stock exchange-100 index started the week at 30098 points and closed at 30377 points on Friday. Its value increased by the 0.9% from Rs 7.217 Trillion to Rs 7.283 Trillion. The total turnover was 825000000 shares with the trading value of Rs 50416699949 .The investors mostly showed their interest in banking,power and cement sectors.Top 5 gainers of the week were the following companies

 

Top 5 Gainers of the week
Company Rate *
Open Close Diff High Low Avg.
PICIC Growth fund 24.79 24.83 0.04 24.95 24.95 24.61 1008000
United Bank Limited 187.29 196.60 9.31 197.50 186.10 191.03 12487800
Kot Addu 62.99 68.55 5.56 70.00 63.51 67.50 5825500
Meezan Bank 46.56 47.82 1.26 48.47 45.50 47.06 5061000
Lucky Cement 399.23 417.36 18.13 423.90 399.68 413.58 4959200

 

Following important news affected the stock market during the week.

(i) Commodities Prices fell in the International market

(ii)Good corporate results showed by some local companies

(iii)Foreign reserves of the country fell by $ 265 Million this week

(iv) Massive selling by the foreign investors in the market

(v) Expected Chinese investment in the dams and also in the local housing sector

Stock analysts are expecting a positive trend in the market for next coming days.This market increase will be mainly due to increased foreign buying.The inflation,security situation and floor price of the OGDCL will also determine the market trend in next coming days.According to the most of the analysts it is time to invest in the banking,cement and Power sector,as appreciation in their stock is expected in next few days.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.

 

 

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About Emaad Qureshi