Karachi Stock Exchange Weekly Analysis 6 Feb, 2010

Karachi Stock Exchange (KSE) was very volatile last week. Last week trading was limited for four days of week. KSE – 100 index has closed on 9,769.73 points by the increment of 156 points or 1.60 per cent. While KSE – 30 index has closed on 10,176.92 points by increasing 121 points or 1.20 per cent.

Following news played vital role in Karachi Stock Exchange (KSE) index movement:

  • OGDCL has announced, Increase in Qadirpur wellhead gas prices
  • OGDC discovered gas of 3.5 mmcfd in Guddu block
  • Resolution of deadlock between PPP and MQM negotiation on political conflicts
  • Strong buying was witnessed by Foreign Portfolio Investors in Oil, Fertilizer, Telecom and Bank Sector
  • Terrorist activities, security concerns, bomb blasts (in karachi), law and order situation throughout the country.
  • Investor’s sentiments were also hurt by, Monetary policy of SBP. State Bank of Pakistan (SBP) has announced no change in its lending rates (12.5 pc), in monetary policy for next two months.
  • International oil prices and value of Pakistani Ruppee against US$ (Dolloar) is continuously decreasing.
  • Government of Pakistan has increased petroleum prices(Petrol prices increased by Rs6.10 per liter, diesel by Rs2.97 per liter)
  • 50 per cent cut has been proposed in Public Sector Development Program (PSDP)
  • Demand for the local cement mainly for UAE has been reduced, because china has expanded and increased imports
  • Nice results/reports are expected in upcoming weeks, e.g. PTCL has also scheduled to announce half yearly corporate results on Wednesday. And Attock Group Companies including POL, APL, NRL are also announcing their first half of fiscal year 2010 results.
  • DAP prices have reached up to record high levels.

PTCL , OGDCL, Paksitan Oilfields, MCB, National Bank, Lotte Paksitan, Lafarge Pakistan, TRG 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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