Karachi Stock Exchange Weekly Analysis 26 December, 2010

In Karachi Stock Exchange (KSE), index performance was bullish. The Karachi Stock Market has crossed the psychological level of 11,800, and according to experts it will cross 12,000 milestone soon. The Karachi Stock Exchange (KSE) 100-share index closed at 11,858.17 points by gaining 72.08 points or 0.60 per cent.

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

  • Market opened with positive activities following the Chinese PM’s visit
  • Rising cotton prices has boosted Textile sector especially NML and NCL
  • Ministry of Finance has given the payment of Rs. 35 billion to PSO (Pakistan State Oil)
  • International Oil prices are increasing continuously
  • In upcoming week limited foreign activities will be witnessed because of holiday season
  • Little political turmoil was also seen between government and its key coalition partners
  • Urea prices have been increased by Rs. 190 per bag. And new fertilizer plant of ENGRO is expected to attain commissioning in 2nd week of January, 2011
  • Pakistan seeks delay in SBA program by the IMF for further 9 months due to non implementation of key tax reforms

POL, PSO, NBP, ENGRO, NML, Lotte Pakistan, Azgard NINE, Bank Al Falah were on top last week. Unilever Food, Colgate Pak, Rafhan Maize, Dreamworld limited, Pak Services were the major gainers while Nestle Pak, Siemens Engg, Indus Dyeing, Unilever Pak, Pak Engg were majo losers 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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