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Weekly Review : Karachi stock exchange 100-index at its new highest level

Pakistan stock market saw a positive week as Karachi stock exchange -100 index rose by 528 points during the week.The index touched the highest ever level during the week.The most of the tradings sessions of the market were influenced by the budget expectations and also expect an upgrade of the Pakistan stock market by the MSCI. The market started the week at a negative note as investors were worried about different budget related announcements.

The market recovered quickly on the budgetary expectations and on the hopes of MSCI upgradation news.The market rose by 1159 points during the final 3 days of the trading week. Foreign and domestic investor both showed great interest in ,textile ,cement and oil/gas sectors.Foreign investors were net buyers this week.They bought net equities of $ 14.47 million during the whole week.

Pakistan stock market

Source : Express Tribune

Karachi stock exchange 100-index started the week at 36694 points and ended the week at 37223 points.The weekly share trading volume showed a sharp decline of 4.43 % as compared to the last week trading volume.The weekly share trading volume 1193 million shares as compared to the last week’s volume of 1245 million shares. Following were the top gainer and loser companies of the week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 5,130.00 5,386.50 256.50 5,386.50 5,386.50 5,285.12 20
Nestle Pakistan [453,496,000] 7,303.67 7,513.56 209.89 7,688.34 7,200.00 7,297.55 1,520
Feroze 1888 Mills Ltd [3,768,010,000] 265.70 332.95 67.25 332.95 273.93 309.92 1,000
Philip Morris (Pakistan) Limited [615,803,000] 1,613.10 1,680.00 66.90 1,693.70 1,680.00 1,686.85 40
Mari Petroleum Company Limited [1,102,500,000] 897.02 963.64 66.62 963.64 870.15 903.49 1,225,600
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 8,790.00 8,700.00 -90.00 8,790.00 8,350.50 8,417.54 200
Pakistan Tobacco Co Ltd [2,554,938,000] 1,090.01 1,034.80 -55.21 1,143.00 1,000.00 1,040.85 15,340
Wyeth Pakistan Ltd [142,161,000] 2,136.75 2,100.00 -36.75 2,200.00 2,100.00 2,150.00 40
Chashma Sugar Mills Ltd [286,920,000] 130.56 101.76 -28.80 124.08 101.76 107.54 249,000
National Silk & Rayon Mills Ltd [155,531,000] 142.67 116.23 -26.44 135.54 116.23 130.00

Source : Business Recorder

Top Performers of the week

Cement and Oil/Gas sector were two best performers at the Pakistan stock market .They contributed significantly in the rise of the Karachi stock exchange 100-index during the week.The hiring of the Fauji cement’s plant was one of the most important events of the week.It affected the reputation of the fauji cement shares but also helped other cement stocks to climb in later part of the week.

Kohat Cement,Lucky Cement and Pioneer cement were three best performing stocks of the Cement sectors.The stock prices of Kohat Cement,Lucky Cement and Pioneer cement rose by 9.49 % , 3.44 % and 10.93 % respectively.If we talk about the Oil and Gas sector,Hascol Petroleum and Attock petroleum are two best performing shares of the sector. The share prices of Hascol Petroleum and Attock petroleum grew by 19.16 % and 1.22 % respectively.

Future Outlook

Market analysts are really upbeat about the future of the Pakistan stock market. They believe that upcoming upgradation of the Pakistan stock exchange and positive budgetary proposals for some sectors will certainly play their part in affecting the future trading in the market. Fluctuations in the international oil price scan play an important role in affecting the Karachi stick exchange 100- index in upcoming days.

Market experts are advising investors to increase their holdings in the cement sector.There are couple of very important reasons for their optimism about the cement sector. Cement sector will be positively affected after the budget 2016-17 and after the implementation of the China-Pakistan economic corridor.These two reasons can help share prices of these sectors to appreciate at Pakistan stock market.

Agriculture and textile sectors are also very good for investments as they were highly favored sectors  in the Budget 2016-17.Government has decreased loan mark-up on the agriculture by 2 % in the current budget.These types of facilities to the agriculture sector will really help it to grow in next fiscal year.So investors can easily reap benefits from their investments through investing in these two sectors.

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About Emaad Qureshi