Karachi Stock Exchange Weekly Analysis 7 November, 2010

In Karachi Stock Exchange (KSE), index performance was bullish. The Karachi Stock Exchange (KSE) 100-share index closed at 10,882.00 points by gaining 283.60 points or 2.67 percent, which is the highest value achieved during last 27 months.

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

  • Early release of next tranche ($1.7 billion) is expected from IMF
  • Turnover tax issue has been resolved (lowered to 0.5 per cent again)
  • Rumours of oil discovery (in Makori East) and hike in oil prices ($87 per barrel)
  • October tax revenue exceeds by the target by Rs. 70 million
  • Strong foreign interest in blue chips
  • Law and order situation in Karachi, will also effect market performance during next week
  • Nice earnings are also expected from Fertilizer sector, because of increase in DAP prices and uptick in fertilizer volumes during Rabi season

POL, PPL, OGDC, ENGRO, PSO, NBP, and MCB were on top last week. Pakistan Telephone, Attock Refinery, Bank of Punjab, Bata (Pakistan) and Pakistan Reinsurance were major gainers while Royal Bank, Kohinoor Energy, Pace (Pakistan), Dreamworld and Media Times 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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