The Karachi stock market showed a bearish trend as Karachi stock exchange 100-index fell by 1417 points during the week.Global stock market crisis,global currency crisis,international oil prices dip and domestic political turmoil were the three most important reasons for this fall.Improving macroeconomic conditions and better corporate results failed to make any impact on the stock market.The foreign investors also pulled out their investments from the Pakistani Capital markets during the week.They offloaded equities of net worth $43.5 million during the week.
The Karachi stock exchange 100-index started the week at 35397 points and ended the week at 34519 points.The average weekly share trading volume saw a steep fall this week.The average weekly trading volume was 135 million shares as compared to 1666 million shares last week.Following are the major gainers and losers companies of the week.
|Indus Dyeing & Manufacturing Co [180,737,000]||1,140.00||1,140.00||53.52||1,140.00||1,140.00||1,140.00||50|
|AKZO Nobel Pakistan Ltd [464,433,000]||302.00||319.26||14.46||320.04||302.00||314.88||55,700|
|Shield Corporation Ltd. [39,000,000]||280.87||280.87||13.37||280.87||280.87||280.87||100|
|Tri-Pack Films Ltd [300,000,000]||256.00||267.96||12.76||267.96||250.00||258.03||411,200|
|EFU Life Assurance Ltd [1,000,000,000]||246.69||245.85||10.90||246.69||245.00||246.13||300|
|Colgate Palmolive (Pakistan) Ltd [479,549,000]||1,466.00||1,450.00||-40.00||1,487.00||1,450.00||1,487.89||560|
|Abbott Laboratories Pakistan Ltd [979,003,000]||680.00||672.49||-26.26||697.00||665.01||675.41||4,450|
|The Searle Company Limited [858,407,000]||400.50||387.31||-20.38||405.99||387.31||391.80||388,400|
|Service Industries Ltd [120,288,000]||780.00||780.00||-19.89||780.00||765.00||778.75||1,200|
|Ferozsons (Laboratories) Ltd [301,868,000]||785.00||776.08||-16.67||789.00||755.00||768.88||9,850|
Courtesy : Business Recorder
Oil and gas sector was worst affectee of the global prices decline as share prices of almost all companies showed a decline.The sector contributed 263 points in the fall of the Karachi Stock exchange 100-index during the week.
Market analysts are expecting a bearish trend in next week due to tense political climate and uncertainty in the global stock markets.Political temperature can rise again especially after the disqualification of the Speaker National Assembly Ayaz Sadiq. Global oil prices can also play an important role in influencing the trading at the Karachi stock market.Small and big Investors have to hold their positions to reap the benefits of their investments in the future.