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Weekly Review : Karachi stock exchange 100- index in the Red Zone.

karachi stock ExchangeKarachi stock market saw a negative trend as Karachi stock exchange 100- index lost 287 pints during the week. The two main reasons for the disappointing performance by the market were weak trading trend at international markets and considerable dip in the international oil prices. Local as well international investors showed minimum interest in the stock market. Foreign investors were the ultimate sellers during the week as they sold net bourses of $ 15.9 million during the week.

 

Karachi stock market showed a negative trend throughout the week. The negative trend in the oil markets and stock markets were two main reasons for the ongoing trend. The oil prices showed 2.3 % decline and they ended the week at below $ 40 per barrel level. The heavy weight oil & gas sector and banking sector mainly contributed to the downfall of the stock market .These two sectors added 133 negative points to the Karachi stock exchange 100- index during the week.

karachi stock market

Karachi stock exchange 100-index started the week at 34144 points and ended the week at 33857 points. The average weekly share trading volume showed 5 % decline during the week. The weekly share volume was 880 million shares in the current week as compared to the 926 million shares in the last week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 8,900.00 9,000.00 100.00 9,000.00 9,000.00 9,000.00 20
Hino Pak Motors Ltd [124,006,000] 1,133.31 1,230.75 97.44 1,245.00 1,115.00 1,159.37 137,950
Ghandhara Industries Ltd [213,044,000] 285.73 364.65 78.92 364.65 300.01 330.47 382,000
Mari Petroleum Company Limited [1,102,500,000] 435.14 484.89 49.75 503.00 441.00 476.04 2,733,300
Highnoon (Laboratories) Ltd [203,621,000] 389.67 427.59 37.92 427.59 382.05 397.94 111,400
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,895.00 9,563.13 -331.87 10,000.00 9,400.25 9,642.11 420
Wyeth Pakistan Ltd [142,161,000] 2,400.00 2,320.00 -80.00 2,625.00 2,320.00 2,401.32 320
Unilever Pakistan Food Limited [61,576,000] 6,400.00 6,321.11 -78.89 6,500.00 6,301.11 6,522.28 140
Sapphire Fibres Ltd [196,875,000] 848.73 800.00 -48.73 889.85 800.00 805.14 1,450
Island Textile Mills Ltd [5,000,000] 780.11 750.00 -30.11 794.99 741.15 760.02 700

Market analysts are expecting a mixed trend at the market in upcoming week .They believe that market will remain range bound as State bank of Pakistan has kept the discount rate at same level .The instability in the oil prices and international stock markets can negatively affect the local stock market in upcoming days.

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About Emaad Qureshi