Karachi Stock Exchange Weekly Analysis 1 May, 2011

The Karachi Stock Exchange (KSE) market trend was bullish and market has closed on positive note. KSE market 100 – index has also crossed the threshold of 12,000 points this week. The Karachi Stock Exchange (KSE) 100-share index has reached 12,057.54 points increasing 103.17 points or 0.86 percent.

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

  • Investors are looking for the profit booking in next week, as the corporate result season has also reached to end
  • Investors have also some concerns on coming budget which is expected to be a tax-laden one
  • FBR (Federal Board of Revenue) is planning to increase the maximum tax rate of salaried persons from 20 to 25 percent
  • President signs law to protect foreign investment
  • Foreign buying have also increased in Oil, Banking and Fertilizer sectors
  • International oil prices have reached up to $125 per barrel
  • Next tranche of IMF (International Monetary Fund) of worth $981 is expected to be released early
  • Federal Government (PPP) has made political alliance with PML-Q
  • Pakistan and India agreed to eliminate restrictions on cross border trade whereas Pakistan offered Most Favourite Nation (MFN) status to India if it successfully removes non tariff barriers to trade
  • Gas supply to Engro plant's was restored which was previously stopped by SNGPL
  • Power shortfall is expected to reach up to 8,000 MW

Clariant Pak, New Jubilee Insurance, Murree Brewery, Lotte Pakistan PTA and Colgate Palmolive were the major gainers while Azgard Nine, Bank Of Punjab, Pak Elektron Limited, Gharibwal Cement and Jahangir Siddiqui & Co 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

No comments:

Post a Comment