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Weekly Review : Karachi Stock market in red

karachi stock ExchangeKarachi stock market saw an another bad week as the Karachi stock exchange 100-index lost more than 911 points during the week.Bad security situation,NAB investigation fears and volatility in the international oil market were the three main influencing factors .The whole week was very negative and depressing for the investors.The market only showed some improvement on Wednesday when oil prices made some recovery in the international stock market.The index rose by 154 points on that day.

The above mentioned factors affected both International and domestic investors alike.The foreign investors were net sellers this week as they offloaded equity of more than $ 4.7 million during the week.The foreign investors are still confused about the future of the market as there is  uncertainty in the political and economic environment of the country.

karachi stock market

The Karachi stock exchange 100-index started the week at 33672 points and ended the week at the 32760 points.The average weekly share trading volume was 676 million shares.It showed a 34 % decrease as compared to the last week.Following are the major gainer and loser companies at the Karachi stock market.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,330.00 1,390.00 60.00 1,399.00 1,331.00 1,393.58 240
Indus Dyeing & Manufacturing Co [180,737,000] 1,150.00 1,207.49 57.49 1,207.49 1,207.49 1,207.49 50
Sapphire Textile Mills Ltd [200,831,000] 846.01 885.00 38.99 885.00 885.00 840.75 100
Island Textile Mills Ltd [5,000,000] 798.00 834.99 36.99 834.99 758.20 807.64 1,700
Sanofi-Aventis Ltd [96,448,000] 640.00 667.00 27.00 667.00 635.00 640.27 1,300
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,400.00 8,900.00 -500.00 9,011.00 8,590.01 8,769.43 200
Unilever Pakistan Food Limited [61,576,000] 7,130.00 7,000.00 -130.00 7,000.00 7,000.00 7,214.90 20
Service Industries Ltd [120,288,000] 850.00 750.03 -99.97 840.00 750.00 805.55 6,700
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,142.00 1,096.50 -45.50 1,119.00 1,055.00 1,088.28 1,160
Abbott Laboratories Pakistan Ltd [979,003,000] 691.00 650.00 -41.00 671.00 650.00 662.10 1,050

According to the market analysts the overall sentiment of the stock market is negative at the moment.The expected NAB investigations and uncertainty in the international stock market is creating fears in the minds of the investors.This means that market will remain under pressure in next week.Other than that the upcoming trading week will be  dull as Eid-ul-Azha is just around the corner.

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About Emaad Qureshi