Karachi Stock Exchange Weekly Analysis November 15, 2009

This Karachi Stock Exchange started with negative activities, as the sequel of previous weeks. But KSE index had performed well especially on ending, and crossed psychological level of 9,000 points. KSE – 100 index has gained 130.69 points or 1.46 percent, and closed at 9,067.17 points. And KSE – 30 index increased 165.89 points or 1.76 percent and closed at 9,562.33 points.
Following important factors have triggered market to upside:
  • Positive dialogue between PPP and PML-N, which has ended the political uncertainty in country.
  • The Government (PPP) has decided to not to table NRO on National Assembly.
  • Expectation $1.2billion tranche from IMF, and $1.8 from Friends of Pakistan next month.
  • The easing of CPI inflation into single digit at 8.87 per cent after 22-month;
  • Fresh statement from Swiss Credit saying that Pakistani stocks market would be standing near 11,200 points by June;
  • The expectation of 50-100bps cut in State Bank’s lending rate in its November Monetary Policy Review Statement.
JSCL, AHSL, PPTA, PTC, OGDCL, DGKC, Engro Chemicals, Adamjee Insurance, and Pakistan Oil Field were the volume leaders last week.

NOTE: The information posted in this blog (forum) is based on current afairs & invstors point of view. There may be discrepency in the ground realities.

Written by: Rana Khurram

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