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Weekly Review : Dull and dry weather at Karachi Stock Market

karachi stock ExchangeKarachi stock market saw another dull and flat week as Karachi stock exchange-100 index dropped by 433 points during the week.Stock traders are waiting for the Federal budget 2015-16 and they are observing the moves of  government very closely.Surprisingly historic cut of 100 Bps in the discount rates also failed to check the  sliding trend of the Karachi stock market.The news about CGT (Capital gain tax) and GDIC (Gas infrastructure development cess) bill also played an important role in the negative trend at the market.

karachi stock marketSource : Express Tribune

Karachi stock exchange-100 index closed the week at 32605 points, which is a 1.31 % drop  as compared to the last week.The average weekly share trading volume showed a sharp decline of 43 % as compared to the last week.It was 545  million shares this week as compared to the 955 million shares last week.Following are the top 5 major gainers and loser companies of the week at the Karachi stock market.

Top 5 Gainers
Indus Dyeing & Manufacturing Co [180,737,000] 731.64869.20137.56924.98768.19832.092,000
JDW Sugar Mills Ltd [597,766,000] 275.33307.0031.67309.98284.00301.4712,100
Exide Pakistan Ltd [77,686,000] 1,068.541,099.9831.441,120.001,075.001,091.163,000
Shezan International Ltd [79,860,000] 955.00985.0030.00985.00985.00985.00100
Noon Pakistan Ltd [117,612,000] 62.6575.9813.3375.9860.5070.1129,000
Top 10 Losers
Bata Pakistan Ltd [75,600,000] 3,391.503,228.58-162.923,301.003,222.003,228.58240
Wyeth Pakistan Ltd [142,161,000] 2,400.002,280.00-120.002,280.002,280.002,280.0020
Island Textile Mills Ltd [5,000,000] 735.00665.10-69.90770.00665.10707.47250
Pakistan Tobacco Co Ltd [2,554,938,000] 903.00857.85-45.15857.85857.85869.2150
Sapphire Fibres Ltd [196,875,000] 560.05515.00-45.05535.00485.00513.582,100

Source : Business Recorder

According to the stock market analysts  same trend will continue till the announcement of the Federal budget 2014-15.They believe that any negative news about the CGT or any other tax can cause negative triggers in the market.Political instability can also affect the proceedings of the Karachi stock market.So stock investors should hold their positions  till the announcement of the Federal budget 2014-15.

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About Emaad Qureshi

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