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Weekly Review : Boom at stock market as Karachi stock exchange 100-index rose by 571 points

Pakistan stock market saw another positive week as Karachi stock exchange 100-index climbed 571 points during the week.The market started the week with a mixed trend as political uncertainty forced investors to take a backseat.In first two days of the trading week,market rose by just 1 5 points.The Pakistan stock market showed some recovery in next three days as it rose by 554 points during remaining days of the trading week.

The news of the possible upgrade of the Pakistan stock market in the MSCI index and recovery in the international oil prices helped market to climb up during the week.Karachi stock exchange 100-index started the week at 36122 points and ended the week at 36693 points.

Pakistan stock market

Source : Express Tribune

 

The weekly share trading  volume  reached 1625 million shares as compared to the last week volume of 1472 million shares.This is approximately 10.39 % increase in the overall weekly share trading volume as compared to the last week’s volume.The Karachi stock exchange 100-index also touched the highest ever level of 36694 points during the week.

The local investors showed  complete interest in the market , as they played an important role in the surge of the Karachi stock exchange -100 index.Foreign investors were little concerned about the future of the Pakistan stock market.Foreign investors remained net sellers during the week.They sold net equity of about $ 7 million during the week.Following are major gainer and loser companies of the week.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Bata Pakistan Ltd [75,600,000] 3,400.10 3,622.50 222.40 3,622.50 3,300.00 3,413.89 320
Ferozsons (Laboratories) Ltd [301,868,000] 863.44 976.14 112.70 1,027.00 860.00 958.81 801,450
Wyeth Pakistan Ltd [142,161,000] 2,040.00 2,136.75 96.75 2,136.75 1,940.00 2,037.25 60
Tandlianwala Sugar Mills Ltd [1,177,063,000] 200.77 249.16 48.39 249.16 204.00 226.44 7,500
Exide Pakistan Ltd [77,686,000] 754.53 798.33 43.80 810.00 761.00 791.03 11,900
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 5,225.00 5,130.00 -95.00 5,130.00 5,112.00 5,130.50 80
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 959.50 899.00 -60.50 950.01 890.01 902.02 2,550
Pakistan Tobacco Co Ltd [2,554,938,000] 1,199.00 1,147.15 -51.85 1,200.00 1,145.00 1,167.09 380
Sapphire Textile Mills Ltd [200,831,000] 726.00 689.70 -36.30 690.00 689.70 689.85 100
Sanofi-Aventis Ltd [96,448,000] 605.83 578.06 -27.77 652.00 577.60 609.63 4,150

Source : Business Recorder

Best and Worst Performers of the week

Oil and gas sector was the major gainer during the week.Its major stocks such as Byco petroleum and Pakistan Petroleum performed very well at the Pakistan stock market.The share prices of Byco petroleum and Pakistan petroleum rose by 12 % and 7 % respectively.

Blue chip stocks of the banking and power sectors also performed well during the week. MCB and Kapco were top performers in the banking and power sectors respectively. The share prices of MCB and Kapco increased by considerable margin.The blue chips stocks like Kapco,MCB and Pakistan petroleum added 241 points in the Karachi stock exchange -100 index.

The overall banking sector was worst performer of the week.Its main stocks like HBL,NBP,BAHB and UBL failed to perform well during the week.These stocks erased 49 points from the Karachi stock exchange 100-index.

Future Outlook

Market analysts like Muzaffar moti are upbeat about the prospects of the local stock market in  next week.They believe that expected upgrading of the Pakistan stock exchange by the Morgan Stanley capital international (MSCI) and international oil prices will definitely influence the investing behaviors of stock traders. Political developments can also play an important role in influencing the trading behaviors of the stock investors at the Pakistan stock market .The MSCI will make its formal announcement about the urgradation of the Pakistan stock market in June 2016 and it will further improve  performance of the local market in upcoming days.

Market analysts are advising stock traders to invest in good performing sectors like cement .Cement sector is one of most consistent performing sectors of the local market.The initiation of Pakistan -China corridor has really improved its future prospects. So ,investors must make long term investments in its stocks to reap real benefits from their investments.

 

 

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About Emaad Qureshi