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Weekly Review : Bulls at Karachi stock market

karachi stock ExchangeKarachi Stock market saw a steep growth as Karachi stock exchange 100-index climbed 1571.22 points during the week.It seems that life has returned to the market once again.The market sentiment was very positive and the market maintained its positive momentum throughout the week.Positive macroeconomic indicators,good corporate results and low inflation influenced the trading behaviors at the Karachi  stock market.Silence at the political front also played its part in influencing the market.

Karachi stock exchange 100-index crossed the 35000 points psychological barrier and continued its upwards movement throughout the week.Although market is showing extremely positive signs but still foreign investors are still not feeling comfortable as they sold net equities of $ 1.6 million during the week. local investors were more active than the foreign investors at the market.

Karachi stock exchange 100-index started the week at 33885 points and ended the week at 35456 points.The weekly average share trading  volume was 0.5 % less than the previous week.It was 1780 million shares this week as compared to 1790 million shares last week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 7,373.73 7,850.00 476.27 7,995.00 7,355.28 7,715.01 120
Bata Pakistan Ltd [75,600,000] 3,549.63 3,850.00 300.37 3,850.00 3,479.99 3,730.81 1,920
Exide Pakistan Ltd [77,686,000] 1,054.45 1,238.38 183.93 1,248.48 989.19 1,143.78 29,480
Service Industries Ltd [120,288,000] 793.56 906.01 112.45 914.75 793.00 859.33 15,250
Ferozsons (Laboratories) Ltd [301,868,000] 616.99 711.61 94.62 711.61 611.50 656.17 141,200
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 10,200.00 9,738.00 -462.00 9,999.99 9,725.00 9,788.83 100
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,584.00 1,517.00 -67.00 1,620.00 1,517.00 1,548.09 1,240
Murree Brewery Co Ltd [230,530,000] 1,000.00 962.25 -37.75 1,000.00 910.00 936.17 3,380
Hino Pak Motors Ltd [124,006,000] 878.28 851.34 -26.94 884.00 830.00 850.71 90,750
Rafhan Maize Products Ltd [92,364,000] 10,200.00 10,177.50 -22.50 10,710.00 10,000.00 10,119.28 80

Top performers of the week

The fertilizer,cement and banking sectors were the top performing sectors during the week.They took full advantage of the positive investor sentiment.They collectively added 987 points to the Karachi stock exchange 100-index during the week.

The cement sector kept on showing positive performance as investors took special interest in its stocks.It was also  a standout performer  in last few weeks.Talking about the banking sector MCB topped the sector with weekly share growth of 12.30 %.Engro corporation was the top performer in the fertilizer sector as it share price increased 7.2 % during the week.

karachi stock market

For the Next Week

It is expected that cement sector will continue its good performance in the next week.DG Khan cement is the top performing share in the overall cement sector.It is showing positive growth for the last 2-3 weeks.Its share price increased by 10.30% during the week. Investors should invest in the cement sector stocks like DG cement in next week to get maximum benefits from their investments.

Future Outlook

Market analysts are expecting a positive performance of the Karachi stock market in coming week.According to them approval of the IMF 8th installment long term loan for Pakistan ,positive macroeconomic indicators and positive reviews by international institutions like IMF are the reasons for their renewed optimism about the Karachi stock market.But any negative development at the political scene can affect  the current positive market sentiment.

 

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About Emaad Qureshi