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Weekly Report : Karachi stock exchange 100-index fell by 73 points after negative trend

karachi stock ExchangeKarachi stock market saw a negative trend as Karachi stock exchange 100-index fell by 73 points during the week.The low corporate earnings and profit taking by the local investors were two main reasons for this negative performance by the stock market.The only positive thing was heavy purchasing by the foreign investors as they bought net equity of $ 3.03 million during the week.

karachi stock market

The Karachi stock exchange 100-index started the week at the 35815 points and ended the week at 35741 points.The average weekly share trading volume was 39 % lower than the previous week.The major gainer and loser companies at the stock marketare following.

Top 5 gainers
CompanyRateTurnover*
OpenCloseDiffHighLowAvg.
Bata Pakistan Ltd [75,600,000] 3,373.173,541.00167.833,541.003,541.003,541.0020
Nestle Pakistan [453,496,000] 10,600.0010,695.0095.0010,695.0010,000.0010,301.18720
Exide Pakistan Ltd [77,686,000] 1,038.001,127.1989.191,141.871,026.001,068.4811,300
Sapphire Textile Mills Ltd [200,831,000] 670.22736.0565.83738.91690.11721.426,200
Bhanero Textile Mills Ltd [30,000,000] 540.00590.0050.00590.00566.00578.00200
Top 5 Losers
CompanyRateTurnover*
OpenCloseDiffHighLowAvg.
Rafhan Maize Products Ltd [92,364,000] 11,019.959,675.00-1,344.9510,468.969,555.0010,429.48200
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,600.001,498.90-101.101,659.001,498.901,569.391,320
Wyeth Pakistan Ltd [142,161,000] 2,534.002,500.00-34.002,660.002,500.002,563.10100
Pakistan Gum & Chemicals Ltd [42,486,000] 215.17190.30-24.87218.85185.20198.5919,100
Abbott Laboratories Pakistan Ltd [979,003,000] 701.00680.00-21.00690.00670.00681.523,500

Market analysts are expecting a decent recovery next week.The main reasons for their optimism are strong macroeconomic fundamentals,expected recovery in oil sector and expected low inflation numbers for the previous month.These reasons will make the stock market more attractive to the investors.

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About Emaad Qureshi

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