Karachi Stock Exchange Weekly Analysis 22 August, 2010

Karachi Stock Exchange (KSE) performance was under limelight during the week. Market has recovered by the end of week, The Karachi Stock Exchange (KSE) 100-share index closed at 9,860.37 points by increment of 37 points or 0.4 percent. And it is expected that market will remain under pressure in upcoming week because of flood crisis, damage in exports and broader inflationary concerns.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
  • Asian Development Bank (ADB) has approved loan of $2 Billion and world bank has redirected the loan of $900 million for the flood relief in Pakistan
  • Institutional support and foreign interest in Oil & Gas and Banking Sector has affected the movement of market positively.
  • Local investors were very careful and cautious because of widespread flood crisis throughout the country.
  • As funds are continuously arriving from International donors, the value of Rupee has becoming strong as compare to dollar
  • Some blue chips from banking, auto and telecom sectors are scheduled to announce their results in upcoming week.
  • Pakistan Investment Bond (PIB) auction came under limelight as the market was expecting a hike in yields, but the finance ministry scraped the entire auction instead.
MCB, OGDC, ENGRO, POL, NBP and ABL were on top at KSE 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

No comments:

Post a Comment