Karachi Stock Exchange Weekly Analysis 24 April, 2011

The Karachi Stock Exchange (KSE) market trend was bullish and market has closed on positive note. At one point market has also crossed the threshold of 12,000 points. The Karachi Stock Exchange (KSE) 100-share index has reached 11,954 points increasing by 2.3 percent.

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

  • OGDCL (Oil and Gas Development Corporation Limited) is scheduled to announce its results on 27 April. Investors have a lot of expectations from OGDCL, because OGDCL contributes 20 percent to the total market capitalization
  • Some blue chips are also scheduled their results in next week e.g. Engro, NBP (National Bank of Pakistan), FFBL (Fauji Fertilizer Bin Qasim Limited) and PSO (Pakistan State Oil)
  • Oil prices have been increased and reached up to $124 per barrel
  • NRL (National Refinery Limited), ARL (Attock Refinery Limited), and POL (Pakistan Oil Fields) announced record profits during the week
  • Gold prices have reached highest record level in Pakistan
  • Government of Pakistan has decided to change the Managing Directors of state run oil and gas companies to address country’s energy woes
  • Strong foreign buying is witnessed and also expected in upcoming weeks

Gharibwal Cement, Rafhan Maize, Oil & Gas Development Co., Soneri Bank and NetSol Technologies were the major gainers while Pak. Reinsurance, Media Times Ltd, E.F.U. Life Assurance, Habib Metro Bank and Pak Cables 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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