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Weekly review : At last breath of fresh air for Karachi stock market

karachi stock ExchangeAt last Karachi stock market recovered  as Karachi stock exchange 100 index rose by 1456 points during the week .Strong market fundamentals ,positive buying by the foreign investors and low inflation for the month of march 2015 were three main reasons for the recovery of   Karachi stock market.

The Karachi stock exchange 100 index opened at  29957 points and ended the week at 31413 points .Karachi stock market also  showed a considerable improvement in the weekly share trading volume as it was 1270 million shares this week  , which is 45 % improvement in comparison with last week .

According to the details banking sector was the major beneficiary  of the recent boost in the stock as it contributed 385 points in the Karachi stock exchange 100 index.The major loser  during the week was oil and gas sector which caused decline of 162 points in the Karachi stock exchange 100 index.Following were the major gainers and losers of the week at Karachi stock market .

Top 10 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,701.00 9,889.86 188.86 10,300.00 9,600.00 9,724.42 180
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 882.29 1,047.82 165.53 1,047.82 838.18 960.33 3,040
Bata Pakistan Ltd [75,600,000] 3,150.00 3,307.00 157.00 3,307.00 2,992.50 3,190.61 700
Exide Pakistan Ltd [77,686,000] 1,029.98 1,179.67 149.69 1,179.67 930.00 1,071.95 12,880
Dreamworld Ltd [320,000,000] 257.00 325.46 68.46 325.46 325.33 330.16 100
Hino Pak Motors Ltd [124,006,000] 852.86 920.55 67.69 935.00 769.71 864.32 24,650
Atlas Battery Ltd [173,996,000] 664.54 729.00 64.46 729.50 631.32 676.65 20,000
Pak Suzuki Motors Co Ltd [822,999,000] 347.36 399.95 52.59 399.95 330.00 361.14 772,000
Pakistan Tobacco Co Ltd [2,554,938,000] 850.50 899.99 49.49 950.00 848.34 903.43 15,600
Abbott Laboratories Pakistan Ltd [979,003,000] 498.09 547.29 49.20 555.50 473.19 513.62 189,400
Top 10 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 8,501.00 8,055.05 -445.95 8,479.00 8,055.05 8,272.72 180
Wyeth Pakistan Ltd [142,161,000] 2,675.00 2,300.00 -375.00 2,541.25 2,300.00 2,408.07 320
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,740.00 1,620.00 -120.00 1,735.65 1,600.00 1,643.01 3,860
Indus Dyeing & Manufacturing Co [180,737,000] 703.50 625.42 -78.08 668.33 625.42 647.49 250
Sanofi-Aventis Ltd [96,448,000] 690.50 625.00 -65.50 660.00 600.00 631.24 2,200
Service Industries Ltd [120,288,000] 806.00 747.99 -58.01 770.00 728.00 747.25 6,250
Sapphire Textile Mills Ltd [200,831,000] 500.00 454.00 -46.00 476.00 454.00 454.18 5,500
Philip Morris (Pakistan) Limited [615,803,000] 1,145.00 1,103.61 -41.39 1,130.00 1,087.75 1,114.95 1,300
Murree Brewery Co Ltd [230,530,000] 986.84 957.61 -29.23 1,036.00 957.19 1,000.10 34,600
Bhanero Textile Mills Ltd [30,000,000] 448.40 420.06 -28.34 425.98 420.00 422.01 2,60

 

Following are most important news that dictated the proceedings at the Karachi stock market

  • Foreign investors bought securities of net value $4 million during the week
  • IMF approved and released 7th installment of its loan program for Pakistan .the value of the installment is $501.4 million .
  • Government announced 7% increase in the  petroleum prices.
  • State bank is expected to reduce  discount rate in coming months

Karachi stock Market

Stock market analysts are expecting more recovery at the Karachi stock market in the coming weeks .The upcoming stock market recovery will be mostly fueled by expected discount rate cut and low inflation results .Market experts are advising investors hold their positions at least for current week .

 

 

 

 

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About Emaad Qureshi