Karachi Stock Exchange Weekly Analysis 17 April, 2011

The Karachi Stock Exchange (KSE) market trend was bearish and market has closed on negative note. The Karachi Stock Exchange (KSE) 100-share index has reached 11,684 points by losing 222 points or 1.9 percent.

Following news have played vital role in Karachi Stock Market index movement:
  • Corporate results announcement has been started and nice quarterly results are expected especially from blue chips e.g. Oil & Gas, Fertilizer, power, cement, banking etc.
  • Exports of Pakistan were robust, touching record high levels in March of $2.5 billion
  • Pak Rupee has gained strength over US$
  • Political turmoil and uncertainty has really affected sentiments of local as well as of foreign investors
  • Industries have serious concerns over gas and power shortfall and increasing power tariffs
  • SNGPL have stopped gas supplies to four fertilizer plants because of raising demands and falling output
  • Engro has raised prices of Urea up to Rs.70 per bag
  • Notorious circular debt issue does not seem to be resolved in the near future as OGDCL rejected PSO’s proposal to payoff its debt through the dividend securitization
  • Global markets have also fall because of Libyan crisis
  • Commodity prices have surged in local markets
  • Auto sales have been increased up to 13.3% during 9 months
The top-five scrips at the futures counter constituting 69 percent of the total open interest position were POL, ENGRO, LUCK, DGKC and MCB. Gharibwal Cement, Bestway Cement, Standard Chartered Bank, Fauji Fertilizer and Rafhan Maize were the major gainers while Pak Suzuki Motors, Pace (Pak) Ltd, Jahangir Siddiqui & Co, Azgard Nine and Pak Elektron Limited 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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