Karachi Stock Exchange Weekly Analysis 17 October, 2010

In Karachi Stock Exchange (KSE), index performance was bullish and is expected to be range bound in next week. Foreign Investors have shown interest in blue chips, which drives market positively. The Karachi Stock Exchange (KSE) 100-share index closed at 10,431.84 points by gaining 171.36 points or 1.7 percent.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
  • According to analysts there is political and macro economic uncertainty throughout the country
  • Quarterly result season is arriving, and nice corporate earnings are expected
  • MTS (Margin Trading System) and results announcements will play an important role in market movement
  • Hearing of NRO cases in Supreme Court. Local Investors are very cautious because of it
  • Cotton prices have been increased to all time high
  • Oil prices have increased up to $83 per barrel
  • OGRA has raised the wellhead gas price for 21 fields
PSO, MCB, OGDC, ENGRO, JSCL, BAFL, NML and NBP were on top at KSE last week. Pakistan Refinery, EFU Life, EFU General, Soneri Bank and WorldCall Telecom were major gainers while Pak Telephone, Ghani Glass, Grays of Cambridge, NIB Bank and Shifa Hospitals 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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