Karachi Stock Exchange Weekly Analysis 19 December, 2010

In Karachi Stock Exchange (KSE), index performance was bullish. The Karachi Stock Market has crossed the psychological level of 11,700 after 29 months. The Karachi Stock Exchange (KSE) 100-share index closed at 11,786 points by gaining 166 points.

Following news have played vital role in Karachi Stock Market index movement:
  • Institutional, Foreign Portfolio and local investor’s buying in blue chips (Oil & Gas, Banking etc.) has supported market
  • Highest foreign investment (since 1 September, 2009) of worth $19.5 million in a day was also witnessed
  • There were only three sessions of market because of Muharram Ashura Holidays
  • Government’s success in ensuring security during month of Muharram has created confidence of investors
  • Visit of Chinese Prime Minister (Wen Jiabao) and his agreements of worth more than $30 billion will create long term positive effects in Pakistan’s economy
  • International Oil prices have increased
  • A clash was witnessed between government and JUI (Jamiat Ulma-e-Islam)
  • BP(British Petroleum) has accepted offer from UEG (United Energy Group) for purchase of its assets in Pakistan for $775 million
Lotte Pakistan, Jahangir Siddiqui, Lafrage Pakistan, Nimir Inds, Dewan Salman were the volume leaders. Unilever Pak, Bata Pak, Rafhan Maize, Indus Dyeing, Nestle Pak were major gainers while Siemens Engg, Pak Engg, Colgate Palmolive, Unilever Foods were the major losers of 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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