Karachi Stock Market Review 3 Jan, 2010

Last week KSE opened only for three working days, Monday and Friday was the holiday and on Tuesday shortened session was witnessed. KSE – 100 Index has performed well in Tuesday (closed at 9,410.66 points) and Wednesday (closed at 9,507.95 points) but on Thursday it declines and closed at 9,386.92 points. KSE – 100 index has shed total 121.03 points or 1.27 per cent. By the year’s last closing session market has gained 3,500 points or 60 per cent increment for the year 2009. While KSE -30 index has closed at 9,849.92 points after the decline of 151.80 points or 1.52 per cent.

Following news played key role in movement of Bulls and Bears:

  • Law and Order situation and Security concerns, threats, strikes and terrorist activities especially in Karachi, after suicidal attack in Moharram. And a blast at Laki Marwat.
  • Political panic, uncertainties and turmoil was also witnessed.
  • On Wednesday, after IMF tranche of $1.2 billion, Market moved up.
  • Fertilizer sales are quite very well reported for the month of November, 2009. Urea +13 per cent and DAP +67 per cent.
  • Experts have stated, Rabi produce may decrease 20% and load shedding may increase because of short fall of water.
  • Government has increased Electricity up to 13.6 per cent and Gas up to 18 per cent.
  • NWFP Government is planning to privatise BOK (Bank of Khyber).
  • Moody’s depicted a negative outlook for the banking sector of Pakistan.
  • Oil and Gas production in Pakistan has recovered; OGDC, British Petroleum and MOL have got permission for seismic survey at six places. International oil prices have increased. But Hearing of Oil & Gas prices by Supreme Court has also affected sentiments of Investors.
  • Better results are expected especially Banks and Fertilizer sectors.

PPTA, DGKC, NCL, Bank Al-Falah, Arif Habib Securities, BOP were on top 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