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Weekly Review : Karachi stock exchange -100 index lost 124 points

karachi stock ExchangeKarachi stock market saw a bad week as Karachi stock exchange -100 index lost 124 points during the week.Political instability and profit taking by the retail investors caused market to slide this week.The apparent clash between establishment and Sindh government sent negative vibes to the local as well as international stock market investors.Foreign investors got confused about the market as they sold net equity of worth $ 5.6 million during the week.The upgrading of the five Pakistani banks by the Moody to B3 and Caa1 brought some positivity in the market during the week ,as this news caused index to climb 192 points on Thursday.

Karachi stock exchange 100-index started the week at 34651 points and ended the week at 34527 points.The weekly share trading volumes saw an overall increase of almost 14.6 % during the week.The average weekly volume was 2290 million shares as compared to the share volume of 1999 million shares of the last week.The Karachi stock market value stood at Rs 7.45 trillion at the end of the week.Following are the top 5 gainers and losers of the week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,086.00 10,900.00 1,814.00 11,014.00 9,000.00 10,080.29 440
Bata Pakistan Ltd [75,600,000] 3,000.00 3,291.75 291.75 3,291.75 3,099.00 3,196.09 2,060
Nestle Pakistan [453,496,000] 10,025.11 10,200.00 174.89 10,250.00 10,000.00 10,101.34 2,220
Shezan International Ltd [79,860,000] 875.00 910.00 35.00 910.00 910.00 913.33 11,000
Ismail Industries Ltd [505,208,000] 190.16 222.41 32.25 222.41 193.00 222.41 300
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,600.00 1,630.00 30.00 1,655.00 1,600.00 1,619.24 7,600
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Murree Brewery Co Ltd [230,530,000] 1,088.50 992.66 -95.84 1,125.00 946.11 1,030.14 2,720
Island Textile Mills Ltd [5,000,000] 734.00 700.00 -34.00 730.00 698.00 703.25 250
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,205.23 1,177.25 -27.98 1,225.00 1,125.58 1,187.72 3,160
Mitchells Fruits Farms Ltd [78,750,000] 455.00 427.45 -27.55 469.00 427.00 446.04 24,550
Pakistan Tobacco Co Ltd [2,554,938,000] 919.98 893.14 -26.84 949.98 854.81 880.28 35,950

Top performers

The banking,automobile and cement sectors performed very well during the week.It was very good week for the banking sector as Moody upgraded ratings of five Pakistani banks.The banking sector alone added 50 points in the Karachi stock exchange-100 index.

It is expected that auto sector will continue to perform well in upcoming days as Sindh and Punjab governments have announced lots of incentives for this sector.The subsidies on more than 54000 tractors for farmers of Sindh and Punjab are one of these incentives.

karachi stock market

Future Outlook

Market analysts are expecting a positive trend at the Karachi stock market in coming days.The positive macroeconomic scenario and good corporate profitability will influence the market proceedings in the upcoming days.The general macroeconomic scenario is quite positive ,although country’s current account showed a deficit of $521 million for the month of May 2015. The World bank has announced to release $500 million loan to Pakistan,which indicates confidence of international institutions on our economic managers. Political developments and international oil prices will also play their part in affecting the market in coming days.

 

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About Emaad Qureshi