Home » Investing » Weekly Review : Another Volatile week for the Karachi Stock Market
Drowning in credit debt?

Weekly Review : Another Volatile week for the Karachi Stock Market

karachi stock ExchangeKarachi stock market saw another dull week as the Karachi stock exchange-100 index fell by 218 points during the week.Slowdown in the Chinese economy and the expected crackdown by the SECP on local brokers were the two main reasons for this fall.The market started the week with the news that SECP may take action against the brokers.The investors reacted very negatively to this news and the stock index fell by 946 points.The stock market showed some recovery in next four days as index rose  by 729 points. The main reason of this recovery was increase in the international oil prices .

Karachi stock exchange 100-index started the week at 33891 points and ended the week at 33672 points.The weekly share trading volume showed a 29% decrease during the week.The weekly share trading volume was 1025 million shares as compared to 1445 million shares in the last week.The major gainer and loser companies of the week were as follows.

Top 5 Gainers
CompanyRateTurnover*
OpenCloseDiffHighLowAvg.
Rafhan Maize Products Ltd [92,364,000] 9,300.009,400.00100.009,500.009,200.009,442.50220
Atlas Battery Ltd [173,996,000] 730.00770.0040.00777.00693.50734.8629,450
Island Textile Mills Ltd [5,000,000] 770.00798.0028.00840.00760.00795.92400
Biafo Industries Ltd [200,000,000] 234.30259.2524.95264.22226.70247.89173,500
Hino Pak Motors Ltd [124,006,000] 1,060.001,080.4820.481,089.061,001.011,052.418,900
Top 5 Losers
CompanyRateTurnover*
OpenCloseDiffHighLowAvg.
Unilever Pakistan Food Limited [61,576,000] 7,499.007,130.00-369.007,500.007,130.007,170.50100
Bata Pakistan Ltd [75,600,000] 3,000.002,900.00-100.002,900.002,900.002,900.0060
Indus Motor Co Ltd [786,000,000] 1,169.441,078.66-90.781,180.001,073.001,097.29103,520
Sapphire Textile Mills Ltd [200,831,000] 888.88846.01-42.87920.00846.01883.01100
Pakistan Tobacco Co Ltd [2,554,938,000] 950.00911.00-39.00951.00902.50916.911,300

Top performers

The auto sector was the top performing sector of the week.The main reason for its good performance was 29 % rise in its monthly sales.The Atlas battery and Hino Pak motors were the top performing stocks of this sector at the stock market , as their share prices increased by 5.47 % and 1.89 % respectively.

 

Future Outlook

Top market analysts such as KASB securities are really upbeat about the future of the  stock market.They believe that market will react positively  to the 50 BPS rate cut by the SBP and also due to overall positive outlook of the economy.The State bank of Pakistan has reduced the discount rate from 6.5 % to 6% and this move has sent positive signals to local investors.The local political situation and fluctuations in the international oil prices can also affect the Karachi stock market in forthcoming days.

Facebooktwittergoogle_plusredditpinterestlinkedinmailby feather

About Emaad Qureshi

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!