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Weekly Review: Positivity returned at Karachi stock market

 

karachi stock ExchangeKarachi stock market saw a positive week as Karachi stock exchange -100 index climbed 316 points during the week.Karachi stock exchange crossed the psychological barrier of 34000 points during the week.The first two days of the trading week were dull and dry.But market picked its momentum after appreciation in international oil prices.The good corporate results also contributed in the rise of the market index.

Domestic investors have starting showing some interest in the market.But foreign investors are still confused about the future prospects of the stock market.Foreign investors sold net equities of $20 million as compared to $ 9.2 million in the last week.Karachi stock market has to show consistent performance to again attract the foreign investors.

The Karachi stock exchange -100 index started the week at 33945 points and ended the week at 34261 points.The average weekly trading volume  showed an improvement  of 27 %. The weekly trading volume was  825 million shares this week as compared to the 648 million shares in the last week.

karachi stock market

The automobile sector,cement sector and oil/gas  sector were the top performers of the week.Domestic investors showed special interest in these stocks .Following are the 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] 2,795.00 3,220.00 425.00 3,234.73 2,895.00 3,071.31 180
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,369.86 1,535.00 165.14 1,535.00 1,370.00 1,402.93 10,020
Indus Motor Co Ltd [786,000,000] 1,070.95 1,194.46 123.51 1,224.89 1,078.00 1,159.77 305,580
Pakistan Tobacco Co Ltd [2,554,938,000] 989.00 1,064.36 75.36 1,065.75 945.00 967.50 16,700
Noon Pakistan Ltd [117,612,000] 292.53 349.17 56.64 349.17 285.00 316.64 268,500
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 9,747.00 9,225.25 -521.75 9,698.33 9,213.42 9,089.06 180
Island Textile Mills Ltd [5,000,000] 871.03 791.17 -79.86 853.96 716.00 796.84 8,700
Khyber Tobacco Co Ltd [12,018,000] 459.61 400.99 -58.62 452.68 368.75 404.02 7,000
Biafo Industries Ltd [200,000,000] 311.77 278.75 -33.02 329.00 265.00 297.34 57,000
Unilever Pakistan Food Limited [61,576,000] 7,149.00 7,120.00 -29.00 7,490.00 7,120.00 7,270.42 320

Financial experts such as KASB securities are expecting a mixed trend at Karachi stock market.Analysts at the KASB securities believe that stock market will come under pressure due to depreciation in the rupee exchange rates.However rise in the international oil prices can positively affect the market in next trading week.

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About Emaad Qureshi