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Weekly Review : Robust Market Growth and Karachi Stock exchange -100 index rose by 440 points

karachi stock ExchangeKarachi stock market saw a bullish trend as Karachi stock exchange100-index rose by 440 points during the week.The positive corporate results of the auto and banking sectors,low inflation results of the last month and successful talks with the IMF team were three main reasons for this upward surge of the stock market.These three important factors also influenced foreign investors who invested net equity of worth $4.9 million during the week.

 

karachi stock market

 

 

Karachi stock exchange 100-index started the week at 35782 points and ended the week at the record high point of 36222 points.The average weekly share trading volume was 1475 million shares,which is 27% decrease as compared to the last week share volume.Following were major gainer and loser companies of the week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Hino Pak Motors Ltd [124,006,000] 939.87 1,199.53 259.66 1,199.53 936.00 1,082.72 183,150
Ferozsons (Laboratories) Ltd [301,868,000] 700.14 839.27 139.13 839.27 700.00 765.20 414,600
Island Textile Mills Ltd [5,000,000] 840.00 923.90 83.90 970.00 840.00 903.85 350
Pak Suzuki Motors Co Ltd [822,999,000] 420.80 474.65 53.85 474.65 421.05 446.85 1,755,400
Indus Motor Co Ltd [786,000,000] 1,244.99 1,297.74 52.75 1,299.99 1,236.00 1,270.15 141,600
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,675.00 9,500.01 -174.99 9,500.01 9,500.00 9,500.01 40
Wyeth Pakistan Ltd [142,161,000] 2,500.00 2,400.00 -100.00 2,400.00 2,400.00 2,400.00 20
Bata Pakistan Ltd [75,600,000] 3,541.00 3,444.44 -96.56 3,445.11 3,444.44 3,444.78 40
Service Industries Ltd [120,288,000] 849.50 789.99 -59.51 835.00 780.00 806.56 12,600
Exide Pakistan Ltd [77,686,000] 1,127.19 1,071.00 -56.19 1,155.00 1,060.05 1,102.76 5,980

Top Performer

The auto sector was the top performer of the week as it showed a very good growth during the week.The main shares of the sector such as Al Ghazi tractors and Indus motors showed a very encouraging growth of 7.45 % and 27.68 % respectively.

Future Outlook

Market analysts are expecting a positive market trend in the next week .They believe that positive economic fundamentals,future gas prices hike and the government decisions relating to 0.6% withholding tax will set the tone for the next trading week at the stock market.The global oil prices,news about the auto policy and domestic political climate can also play an important role in influencing the trading at the Karachi stock market.

 

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About Emaad Qureshi