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Weekly Review : Karachi stock exchange 100-index lost 897 points as market enters the red zone

Karachi stock market saw another negative week as Karachi stock exchange 100-index fell by 897 points during the week. Both foreign and domestic investors were net sellers at the market. The excessive selling by the foreign investors triggered the downfall in the stock market. Foreign investors were the net sellers as they sold net equity of $13.1 million during the week.

According to the market analysts the foreign selling was mainly caused by the instability and turmoil in the international stock markets. The negative trend in the international stock markets was mainly caused by the recent military conflict between Russia and Turkey. Turkey recently shot down the Russian plane. Turkey accused Russia of violating the Turkish airspace. This news caused international stock markets to crash in a big way.

karachi stock market

The Karachi stock exchange -100 index started the week at the 33875 points and ended the week at the 32960 points. The banking and oil/gas sector were the prime movers in the domestic stock market. They negatively affected the stock market during the week. The oil and gas sector showed a dismal performance as international oil prices remained below the $ 45 per barrel level. The banking sector’ performance was also at below the par level. The major gainers and losers companies of the week are as follows.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Pakistan Engineering Co Ltd [56,902,000] 148.34 189.29 40.95 189.29 150.00 171.87 13,500
Murree Brewery Co Ltd [230,530,000] 991.73 1,032.50 40.77 1,034.90 975.00 1,023.07 150
Mari Petroleum Company Limited [1,102,500,000] 484.89 524.24 39.35 532.00 481.00 505.77 2,600,300
AKD Capital Ltd [25,073,000] 139.99 178.63 38.64 178.63 146.00 162.32 11,000
Associated Services Limited [35,574,000] 116.70 143.44 26.74 148.50 116.00 134.10 212,500
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,563.13 9,085.00 -478.13 9,085.00 9,085.00 9,085.00 20
Nestle Pakistan [453,496,000] 9,000.00 8,600.00 -400.00 8,650.00 8,600.00 8,510.28 60
Hino Pak Motors Ltd [124,006,000] 1,230.75 1,045.17 -185.58 1,280.00 1,044.48 1,156.76 96,500
Unilever Pakistan Food Limited [61,576,000] 6,321.11 6,200.00 -121.11 6,200.00 6,200.00 6,282.07 40
Al-Ghazi Tractors Ltd [289,821,000] 492.66 431.30 -61.36 517.00 427.25 463.33 107,500

The average share trading volume also showed a considerable decline during the week.The share trade volume declined by 18.5 % during the week. The average weekly trading volume was 716.5 million shares this week. The share trading volume was 880 million shares last week.

Market analysts are expecting negative trend to persist in upcoming week. According to them turmoil in the international political scene and negativity at the internal oil prices will negatively affect the domestic stock market. The trend at the international markets will also play an important role in influencing the domestic stock market in upcoming week.

 

 

 

 

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About Emaad Qureshi