Karachi Stock Exchange Weekly Analysis 31 October, 2010

In Karachi Stock Exchange (KSE), index performance was bearish and closed in negative note after four consecutive positive weeks. The Karachi Stock Exchange (KSE) 100-share index closed at 10,598.40 points by losing 54.08 points or 0.5 percent.

Following news have played vital role in Karachi Stock Exchange (KSE) index movement:
  • International Oil prices have fall ($81 per barrel) but in Pakistan they are going to increase from Rs. 4 to 7 per litre
  • Gas supply issue (load shedding) throughout the country and rise in prices of energy
  • WB (World Bank) and ADB (Asian Development Bank) has raised flood loss estimates to $16 billion
  • In last week a lot of companies (including some blue chips) have announced their corporate results for the month of September
  • OGDC, KAPCO, NML, NCL, and MCB has announced higher then expected results. While negative results of NBP, FFC, and INDU have surprised investors
  • UBL, HBL, FFBL, BAFL, and DGKC are also expected to announce nice results in upcoming week
  • Investors focus and Market movement depends on Meeting of IMF with Pakistan Officials in next week

Oil & Gas sector have outperformed the market, whereas banks, chemicals and auto sectors underperformed the market. NML, PSO, POL, ENGRO and MCB were the top -5 scrips constituting 54 per cent of market.

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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