Karachi Stock Exchange Weekly Analysis 3 April, 2011

The Karachi Stock Exchange (KSE) market trend was bullish during last week. The Karachi Stock Exchange (KSE) 100-share index has reached 11,886 points by gaining 334 points or 3.0 percent.

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

  • Nice quarterly results are expected especially from blue chips, which are being started by third week of current month
  • International oil prices have been increased
  • Government has increased petroleum prices (9 to 13 percent), and political tensions are expected to be increased between coalition partners
  • State Bank of Pakistan (SBP) has announced its monetary policy last week, and kept the discount rate unchanged at 14 percent
  • Overall, banks and construction and material sectors outperformed the market, while oil and gas underperformed
  • The Asian Development Bank (ADB) and the World Bank (WB) approved loan worth $775 million to rebuild infrastructure damaged in the countrywide floods

The Top-5 scrips at the futures counter, constituting 49 percent of the total open interest position, were Pakistan Oilfields (POL), Lucky Cement (LUCK), Engro, National Bank of Pakistan (NBP) and MCB Bank. Pak Telephone, Pace (Pak) Ltd, Nestle Pakistan Limited, Habib Bank Limited and NetSol Technologies, were the major gainers while E.F.U. General Insurance, Bank Of Punjab, Media Times Limited, Rafhan Maize and Faysal Bank 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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