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Weekly Review : Political instability and Karachi stock exchange 100 index

karachi stock ExchangeKarachi stock market saw a bearish trend as Karachi stock exchange 100 index fell by 285.30 points during the week.Political instability and bearish trend in the international oil market were the main drivers behind this falling trend.Other than that yuan devaluation by the China and decrease in the international commodity demand also affected the market.

 

Domestic and foreign investors both were affected by above mentioned negative developments.Foreign portfolio investment fell by $4.0 million as compared to the last week. The major gainer and loser companies of the week are as follows.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 9,500.01 10,000.00 499.99 10,000.00 9,374.00 9,806.05 10,440
ICI Pakistan Ltd [923,590,000] 505.86 555.79 49.93 564.97 508.00 533.18 569,000
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,450.00 1,483.00 33.00 1,522.00 1,455.05 1,488.73 2,340
Biafo Industries Ltd [200,000,000] 206.50 235.98 29.48 237.66 207.00 227.14 143,700
Shifa International Hospitals Ltd [505,138,000] 250.55 279.15 28.60 282.00 250.00 266.24 320,100
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Unilever Pakistan Food Limited [61,576,000] 8,570.00 8,075.00 -495.00 8,500.00 8,075.00 8,287.50 40
Bata Pakistan Ltd [75,600,000] 3,444.44 3,315.00 -129.44 3,315.00 3,315.00 3,315.00 20
Siemens (Pakistan) Engineering Co Ltd [82,470,000] 1,230.41 1,194.42 -35.99 1,245.00 1,181.00 1,225.56 4,020
Exide Pakistan Ltd [77,686,000] 1,071.00 1,035.50 -35.50 1,084.00 1,005.00 1,055.14 4,040

 

The Karachi stock exchange 100 index started the week at 36222 points and ended the week at the 35937 points.The major contributor to this steep fall in the index was oil sector,which contributed 132 points in the fall of the stock exchange index.The average weekly share trading volume saw a considerable rise as it was 1666 million shares this week.Last week the average weekly trading volume was 1475 million shares.

karachi stock market

According to the market analysts, Karachi stock market will be influenced by political developments and upcoming corporate results in different industrial sectors.The future trend in the international oil sector will also affect the market as it has a very large weightage in the Karachi stock exchange -100 index.So small and medium investors should adopt the wait and see strategy for the next trading week.

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About Emaad Qureshi