Karachi Stock Exchange (KSE) is continuously under pressure, facing a bearish trend. The Karachi Stock Exchange (KSE) 100-share index closed at 9,471.12 points by decreasing 166 points or 1.7 percent.
Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
- Investor’s concerns and confusion in implementation of CGT (Capital Gain Tax) and lack of investment/liquidity
- Limited institutional interest, and profit taking (on declining oil prices) by institutions
- local investors are not interested in long term investments
- Selling pressure from Foreign Portfolio Investors
- Delay in implementation of Margin Financing Product
- There is still no official announcement regarding resolution of circular debt issue in Pakistan’s Energy sector
- Reformed GST (General Sales Tax) i.e. VAT (Value Added Tax) is supposed to implement from 1st October, 2010. And IMF has concerns about delaying implementation of VAT
- Political turmoil, Target killing, Law & Order situation in country
OGDC, BAFL, POL, ENGRO, DGKC, Lotte Pakistan and BOP were volume leaders. Banks, Fertilizers and Cement (DGKC, LUCKY) have outperformed while Telecom, Oil & Gas were underperformers. Pakistan Telephone, Unilever Pakistan Foods, Rafhan Maize, Gharibwal Cement and KESC were major gainers while Bestway Cement, KASB Bank, Siemens Engineering, Al-Ghazi Tractor, Faysal Bank were major losers at KSE last week
Written by: Rana Khurram
No comments:
Post a Comment