Karachi Stock Exchange Weekly Analysis 30 May, 2010

Karachi Stock Exchange (KSE) index have witnessed bearish activities throughout the week. KSE – 100 index has closed at 9,521.15 points with a decrement of 350.01 points, or 3.50 per cent.

Following news have played a vital role in movement of Karachi Stock Exchange (KSE):
  • Investors are desperately looking for triggers in upcoming budget 5 June, 2010
  • Investors have concerns on implementing VAT, CGT, Power tariffs hike
  • State Bank of Pakistan kept status quo on the discount rate in the monetary policy announcement, leaving the rate unchanged (12.5%)
  • Oil and Gas sector also have selling pressure, because of decreasing oil prices
  • Cement sector is also under pressure, because government has decided to increase tax on retail level, and to increase gas prices
  • Concerns over inflation are increasing
  • IMF conditionality to reduce subsidies over Fertilizer and Power sectors
  • Energy crisis increased, Lack of electricity, water and gas are adversely and continuously affecting country’s economy
Lotte Pakistan, JSCL, TRG, SilkBank, National Bank were volume leaders. Sui South Gas, Thal Limited, Shifa Int. Hospital, Ghani Glass and WorldCall
Telecom were major gainers while Jahangir Siddiqui & Co., Bank of Punjab,
Pakistan Telephone, Fauji Cement and Pace (Pakistan) were major losers last week.

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

Written by: Rana Khurram

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