Karachi Stock Exchange Weekly Analysis 18 April, 2010

Karachi Stock Exchange (KSE) was bullish throughout the week. KSE – 100 index has closed at 10,659.21 points by the increment of 72.79 points or 0.67 per cent. While KSE – 30 index has closed at 10,876.61 points by the increment of 24.29 points or 0.22 per cent.

Following news have played a vital role in progress of Karachi Stock Exchange (KSE):
  • Nice results from few blue chips e.g. POL, MCB, DGKC, HBL, PSO, PPL, KAPCO, INDU, ICI, OGDC etc. are expected next week
  • Foreign Portfolio Investors have invested a huge volume (worth of $13.2 million)
  • The consumer price index has reached up to 12.9 per cent by declining 13 points
  • Prime Minister of Pakistan Syed Yousaf Raza Gilani’s foreign visit, meeting with IMF officials, has raise the hope of disbursement of next $1.2 billion tranche
  • ADB reports Pakistan’s performance modestly better
  • Sales of Cement has increased up to 13 per cent
  • FX reserves has reached $15 billion
Following negative news also circulated in market, which makes local investors very cautious and careful:
  • Government is planning to introduce some new taxes in upcoming budget
  • Series of Bomb blast throughout the country e.g. Quetta, Kohat
  • Violence in Hazara division
  • Cotton prices have reached Rs. 6000/maund, which is the all time highest level
  • Steel prices have increased from 15k/ton to 70k/ton just in last two months
  • Lack of electricity, water and gas are adversely and continuously affecting country’s economy and various industries e.g. Textile, Agriculture etc.
LOTTE Pakistan, ANL, TRG, WorldCall, NIB Bank were 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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