Karachi Stock Exchange Weekly Analysis 10 October, 2010

In Karachi Stock Exchange (KSE), index performance was bullish and closed on a three month’s high position. Although market was opened on cautious note but last two days were very aggressive. The Karachi Stock Exchange (KSE) 100-share index closed at 10,260 points by gaining 218 points or 2.2 percent.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
  • Early launch of MTS (Margin Trading System) products is expected
  • EU (European Union) allows duty free exports of Pakistan, for some selected (75) products. It will boost the country’s exports to EU by 100 million Euros annually, and will benefit mainly textile sector
  • Disbursement of $1.7 billion from IMF (International Monetary Fund) are expected early
  • Cement prices have been increased and OGRA (Oil & Gas Regulatory Authority) announced an upward revision (UFG to 7% for SSGC ) in gas wellhead prices
  • Strong earnings have also witnessed from textile, Oil & Gas sectors
  • Suicidal blasts and political turmoil created a chaos in country
  • Oil prices rises globally up to $81 per barrel
  • Tension between NATO and Pakistan Army eases
  • Power tariffs have increased by two per cent and also expected raise in future
  • Load shedding and price increase is also expected for gas in upcoming months
  • Flood assessment reports by International agencies will also affect positively in next week
  • Hearing of NRO cases is also expected in next week, which will also play an important role in index movement
LOTPTA, JSCL, BAFL, NML, DGKC, AHSL, PSO, ENGRO, POL, MCB, OGDC and SNGP were on top last week. Lakson Tobacco, Nestle Pak, Attock Petroleum, NIB Bank, Pak Telephone, Bank alFalah and KASB Bank were major gainers while Pak Cables, Shifa International, Bata Pakistan, Wyeth Pakistan, Grays of Cambridge and Pak Services, Siemens Engg. were major losers 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

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