Karachi Stock Exchange Weekly Analysis 24 October, 2010

In Karachi Stock Exchange (KSE), index performance was bullish. The average daily volume rises to a 25 – week high position of 122 million shares. The Karachi Stock Exchange (KSE) 100-share index closed at 10,652.48 points by gaining 220.64 points or 2.1 percent.

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

  • Local investors have gained much confidence after the Supreme Court decision about 18th Amendment
  • Some blue chips have announced higher than expected results e.g. PPL, FFBL, ABL
  • In upcoming week some nice results are also expected for some blue chips e.g. MCB, HBL, NML, ENGRO, HUBC etc. which can drive KSE index to green zone
  • ECC has approved oil deregulation policy
  • Rise in International oil prices (up to $82 per barrel), rise in local cement prices (Rs. 55 per bag), have attracted the interest of investors
  • Foreign Investors have shown serious interest in Oil & Gas, Banking, Cement and Fertilizer sectors

LOTPTA, JSCL, DGKC, LPCL, and FFBL were volume leaders. The top five scrips that constituted 72 percent of the total open interest were PSO, MCB, ENGRO, NML and OGDC. Atlas Honda, Lafarge Pakistan, Pak Telephone, EFU General Insurance and Bata were major gainers while Sui Southern Gas, Murree Brewery, Attock Petroleum, Thal Limited and National Refinery 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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