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Weekly Review : Black day as Karachi stock exchange-100 index falls by 1014 points

Pakistan Stock ExchangePakistan stock market saw a negative week as Karachi stock exchange -100 index nosedived 1014 points during the week.The stock market started the week with a positive note and rose by 227 .24 points on the first day of the trading week.But index failed to continue its positive journey and lost more than 1241 points in next four trading days.

 

The depression in the international oil and stock markets is the most important reason for the ongoing negative performance of the local market. The local and foreign investors both were involved in the selling activity at the market.Foreign investors sold net equity of approx $ 17.3 million during the week.

Pakistan Stock Exchange

The Karachi stock exchange -100 indexstarted the week at 32478 points and ended the week at 31464 points.The weekly share trading volume increased by 22 % during the week as compared to the last week.The weekly share trading volume was 704 million shares as compared to 577.20 million shares in the last week.Following are the major gainer and loser companies of the week.

Top 5 Gainers of the week

Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 7,800.00 7,800.00 100.00 7,800.00 7,800.00 7,800.00 20
Service Industries Ltd [120,288,000] 849.48 870.00 27.44 877.00 849.48 869.33 4,050
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,465.00 1,465.00 25.00 1,465.00 1,465.00 1,462.43 600
Khyber Tobacco Co Ltd [12,018,000] 348.40 348.40 12.40 348.40 348.40 348.40 100
Sitara Chemicals Industries Ltd [214,295,000] 365.25 375.36 10.36 380.00 360.00 363.86 9,400
Top 5 Losers

Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 5,700.00 5,700.00 -300.00 5,700.00 5,700.00 5,700.00 40
Wyeth Pakistan Ltd [142,161,000] 2,000.00 2,000.00 -100.00 2,000.00 2,000.00 2,000.00 20
Bata Pakistan Ltd [75,600,000] 3,300.00 3,300.00 -88.57 3,300.00 3,300.00 3,300.00 80
Ferozsons (Laboratories) Ltd [301,868,000] 871.00 855.21 -45.01 872.00 855.21 859.00 27,450
Indus Motor Co Ltd [786,000,000] 1,035.00 998.30 -39.63 1,035.00 993.00 1,004.02 29,550

Stock market analysts like KASB securities are expecting a mixed trend in the next week.They believe that the depression in the international oil stock markets will negatively affect the local market.But expected positive corporate results will certainly help the market to recover in the upcoming week.

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About Emaad Qureshi