Karachi Stock Exchange Weekly Analysis 15 August, 2010

Karachi Stock Exchange (KSE) has shown a lacklustre performance during the week. Bears were seen dominating market, The Karachi Stock Exchange (KSE) 100-share index closed at 9,823.37 points sheds 492 points or 4.8 percent.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
  • Devastation caused by the floods in the country
  • The chairman of the Karachi Stock Exchange, Zubyr Soomro, expressed his dissatisfaction with the proposed margin financing product in a letter of dissent made public.
  • Disappointing results from some blue chips last week
  • Inflationary pressures are expected in near future because flood has totally destroyed crops and other valuable resources of country
  • World Bank to provide US$900bn for flood relief
  • Faysal bank to make tender offer for 0.63% shares of RBS
OGDC, ENGRO, MCB, POL, PPL, AHSL, HUBCO, JSCL, Lotte Pakistan were on top, Gharibwal Cement, Hub Power Company, Shifa Int. Hospital, Pakistan Tobacco and Habib Metropolitan Bank were major gainers while PIA, Netsol Technologies, Arif Habib Securities, Royal Bank and Azgard Nine were major losers at KSE this 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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