Karachi Stock Market Weekly Analysis Jan 10, 2010

In the battle of Bulls and Bears, Bull were remain dominated throughout the last week. Karachi Stock Exchange has closed on very positive note, and on the highest level during last 3 months. KSE – 100 index has crossed psychological level of 9,800 points many times during this week. KSE - 100 index closed on 9,776.21 points by the increment of 389.29 points or 4.14 per cent. KSE – 30 index closed on 10,289.27 points by the increment of 439.35 points or 4.46 per cent.

Following important news have ignited market positively:

  • IMF has released third quarterly review and seems satisfied about Pakistan’s economy, the commencement of funds from IMF, World Bank and Saudi Arabia has increased the confidence of investors.
  • Forex reserves has reached up to $15.03 billion
  • Oil prices have increased up to $83 per barrel. Which is the highest price during last 14 months
  • The value of dollar against Rupee has also achieved the highest place. Which can give profit to local exporters e.g. textile and chemical exporters etc.
  • NBP has purchased 27 per cent stake in NAFA from NIB Bank.
  • Foreign investors are also showing interest in Banking and E&P, Telecom and Fertilizer sectors. According to experts in next week Foreign investment is also expected to get increased.
  • Largest IPO during last two years of Fatima Fertilizers of worth 2 Billion.

Banking, Fertilizer Sector, Arif Habib Securities, JSCL, DGKC, NCL, PTCL, LOTE Pakistan PTA, IGI Insurance, 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


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