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Weekly review : Another Disappointing week at Karachi Stock market

karachi stock ExchangeKarachi stock market saw an another disappointing week as Karachi stock exchange-100 index fell by 491 points during the week.Political instability and news about insider trading investigation by NAB & SECP made investors worried about the future of the stock market.Stock investors already have taken a back seat due to upcoming budget and upcoming monetary policy.Due to above mentioned two factors Karachi stock market failed to gain from positive news on the economic front.Other than that the news of MSCI adding Hub Power Company and Indus Motor Company to its Frontier Market Index positively affected the trading to some extent.

karachi stock marketSource : Express Tribune

Karachi stock exchange -100 index started the week at 33530 points and ended the week at 33039 points.The weekly share trading volume increased by 2% as it was 955 million shares during the week.The value of Karachi stock market showed a decreasing trend as it now stands at Rs 7.18 trillion.Following are the major gainer and loser companies of the week at the Karachi stock market.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Bata Pakistan Ltd [75,600,000] 3,230.00 3,391.50 161.50 3,391.50 3,290.00 3,250.50 200
Indus Dyeing & Manufacturing Co [180,737,000] 635.57 731.64 96.07 731.64 601.00 658.59 2,050
Pakistan Tobacco Co Ltd [2,554,938,000] 830.00 903.00 73.00 903.00 831.00 860.26 64,850
Sapphire Fibres Ltd [196,875,000] 510.00 560.05 50.05 562.17 500.00 534.21 11,800
Shezan International Ltd [79,860,000] 913.50 955.00 41.50 955.00 955.00 955.00 100

Top 5 losers

 
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 8,069.50 7,500.00 -569.50 7,849.00 7,500.00 7,767.22 160
Mari Petroleum Company Limited [1,102,500,000] 542.96 455.42 -87.54 543.50 450.10 498.09 1,838,550
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,500.01 1,430.00 -70.01 1,501.00 1,377.50 1,450.97 4,660
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,155.71 1,100.04 -55.67 1,150.00 1,065.00 1,115.04 1,260
Treet Corp Ltd [539,507,000] 129.37 80.56 -48.81 85.83 79.30 82.06 5,994,700

Source : Business Recorder

Stock market experts are advising the investors to adopt a wait and see policy as everyone is waiting for federal budget 2015-16 and State bank’s monetary policy.So it is expected that Karachi stock exchange -100 index will continue showing its inconsistent behavior till the announcement of Federal budget 2014-15 and State bank’s monetary policy.Political instability and any new terrorist incident can jitter the confidence of the investors.

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About Emaad Qureshi