Karachi Stock Exchange Weekly Analysis 9 January, 2011

In Karachi Stock Exchange (KSE), index performance was bullish for the consecutive eighth week. The Karachi Stock Market has reached a position which is highest since last 31 months. And according to experts bullish spell continues in next week also as the leverage product launch is expected and political uncertainty has reduced. The Karachi Stock Exchange (KSE) 100-share index closed at 12,389 points by gaining 366.58 points or 3.04 per cent.

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

  • Political uncertainty, turmoil and instability was observed. Especially after the assassination of Governor of Punjab Salman Taseer, and ultimatum of opposition to government and MQM decided to sit on opposition benches
  • But when government reverses the petroleum prices, MQM again became the ally of government. This act has increased the confidence of investors
  • Oil & Gas sector has performed well especially OGDC and POL. There were rumours about the oil discovery in TAL block
  • Fertilizer stocks have also performed well, urea prices hike is continued
  • Moody’s maintain stable ratings for Pakistan
  • Foreign Portfolio Investors have shown positive interest especially in blue chips.

POL, Fauji Fertilizer, ENGRO, PSO and NBP were on top last week. Nestle Pakistan, Pakistan Oil Fields, Millat Tractors, National Refinery, Colgate Palmolive were major gainers, while Indus dyeing, Bata Pakistan, Pak Engg, Rafhan Maize 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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