Karachi Stock Exchange Weekly Analysis 12 December, 2010

In Karachi Stock Exchange (KSE), index performance was bullish. The Karachi Stock Market has crossed the psychological level of 11,600 after 127 weeks. The Karachi Stock Exchange (KSE) 100-share index closed at 11,620.16 points by gaining 213 points or 1.87 percent.

Following news have played vital role in Karachi Stock Market index movement:

  • Institutional buying and renewed foreign interest in blue chips has supported market
  • International Oil prices have increased and reached $90 per barrel, which is highest value since last two years. That’s why PPL, POL, PSO etc. were the star performer of the week
  • Bids of OGDC and PPL to buy British Petroleum Pakistan has been rejected
  • Increase in energy prices, spillover effect of the flood has increased inflation rate up to 15.48 percent which is highest since last 18-months
  • WTO (World Trade Organization) has rejected to give concession on export duty free for Pakistan from the EU (European Union)
  • Age limit for the used cars for import has been increased to five years. Which has adversely affected the automobile sector
  • SBP (State Bank of Pakistan) has granted license for Sindh Bank

POL, PSO, NBP, NML and ENGRO were top five scrips of last week. KESC, WorldCall Telecom, Nestle Pakistan, Lafarge Pakistan and Security Paper were major gainers while Jahangir Siddiqui & Co., Royal Bank, Azgard Nine, TRG Pakistan Sui South Gas were major losers at Karachi Stock Market 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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