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Weekly Report : Karachi stock exchange -100 index stages a recovery

karachi stock ExchangeKarachi stock market showed some signs of recovery as Karachi stock exchange -100 index rose by 341 points during the week.The market started the week with a positive trend and continued this trend in most trading sessions. The index also crossed the psychological barrier of 33000 points during the week.

 

 

Strong and positive macroeconomic indicators were the main reason for the positive market performance during the week. The falling international oil prices played a negative role in affecting the stock market. The domestic investors showed interest in fertilizer and banking sectors. Most of investors invested in value stocks as they were interested in long term investments. Foreign investors were still net sellers as they sold net equities of $ 10.2 million during the week.

karachi stock marketSource : Express Tribune

The Karachi stock exchange -100 index started the week at 32707 points and ended the week at 33048 points. The average weekly share trading volume showed an increase of 13.98 % during the week. The average weekly share trading volume was 901 million shares as compared to 775 million shares.Following are the major gainer and loser companies of the week at Karachi stock market.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Bata Pakistan Ltd [75,600,000] 3,300.00 3,440.09 135.09 3,445.00 3,300.00 3,311.28 460
Exide Pakistan Ltd [77,686,000] 919.84 922.79 43.94 922.79 914.25 921.43 1,860
Mari Petroleum Company Limited [1,102,500,000] 654.00 658.11 31.33 658.11 640.05 655.79 597,500
Sanofi-Aventis Ltd [96,448,000] 680.00 689.11 17.89 699.00 679.00 688.16 5,700
National Foods Ltd [518,034,000] 308.90 320.26 15.25 320.26 308.90 315.14 32,500
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 7,490.75 7,490.75 -394.25 7,490.75 7,490.75 7,490.75 20
Sapphire Fibres Ltd [196,875,000] 740.00 731.50 -38.50 740.00 731.50 200
Ferozsons (Laboratories) Ltd [301,868,000] 1,142.00 1,106.65 -27.19 1,150.00 1,100.00 1,118.07 52,250
Khyber Tobacco Co Ltd [12,018,000] 379.86 379.86 -19.99 379.86 379.86 100
Millat Tractors Ltd [442,925,000] 587.10 575.66 -14.37 587.10 575.00 579.43 7,650

Source : Business Recorder

The banking  was the top performing sector of the week. United Bank Limited, Habib bank limited and Muslim commercial limited were the best performing shares in this sector. The share prices of UBL, HBL and MCB rose by 3.92 % ,2,87 % and 2.34 % respectively. Cement and fertilizer sector also showed an improved performance as compared to their performance of the last week.

Market analysts are expecting a positive trend in the market for the upcoming week. The positive macroeconomic indicators are the most important reason for their optimism. The falling oil prices and political prevailing instability can put pressure on the stock market in upcoming days.

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About Emaad Qureshi