Karachi Stock Exchange Weekly Analysis 26 September, 2010

Karachi Stock Exchange (KSE) was unable to sustain last week’s performance and faced a bearish trading week. The Karachi Stock Exchange (KSE) 100-share index closed at 9,909.45 points by losing 143.52 points or 1.4 percent.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:

  • Analysts have told that discount rate will remain unchanged in next Monetary Policy (), but there were rumours that discount rate is expected to rise by the State Bank of Pakistan (SBP)
  • Rising inflationary trend and higher treasury bills yields witnessed last week which makes investor cautious and panic to offload their holdings and remaining investors were in wait-and-see state
  • Imposition of tax surcharge is expected to overcome loses of flood
  • External debt rises up to $55 billion
  • International cotton prices rises up to $1 per lbs, that’s why cotton companies e.g. NML, NCL etc. are in selling pressure
  • There were rumours of relaxation of the UFG targets, for which SSGC and SNGPL saw a significant jump
  • There are some uncertainties witnessed among political front, and some conflicts between government and judiciary

POL, PSO, OGDC, MCB were on top at KSE last week. Lakson Tobacco, Sui South Gas, Dreamworld Ltd., Bestway Cement and Pakistan Services were major gainers while Pakistan Telephone, Rafhan Maize, Grays of Cambridge, Mari Gas and Packages Limited were major losers

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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