Karachi Stock Exchange Weekly Analysis 12 June, 2011

The Karachi Stock Exchange (KSE) market trend was bullish and closed on positive note. The Karachi Stock Exchange (KSE) 100-share index has reached 12,377.77 points increasing 141.11 points or 1.15 percent. The Karachi Stock Exchange (KSE) 100-share index has also crossed 12,400 points psychological level during last week.

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

  • Although, there was no positivity regarding CGT (Capital Gain Tax) as per expectations, however the federal budget seemed positive for corporate sector as well as cement as a whole
  • The tax on incomes of banking sector has not been increased, so banking sector was favourite amongst investors
  • Investors have also show n interest in oil refineries, which also remain unaffected by the budget
  • Fertilizer (rise in prices of fertilizer) and cement sector have also shown some positive activities. Because government has reduced federal duty on cement, and it is also widely used for constructions during summer throughout the country.
  • International oil prices gets high, so OGDCL and PPL have performed well. POL (Pakistan Oil Fields) have also performed well because it has also hit oil and gas reserves in one of the blocks(domail block) in Khyber Pakhtunkwa
  • China's three Gorges project corporation has proposed hydro power scheme (Indus dam scheme) to Pakistan (Investing $15 billion) aimed to control floods and address electricity shortages
  • WAPDA plans up-gradation of 1000 MW Mangla power

Sui Northern Gas Ltd, Bata (Pakistan), Media Times Limited, Bank Of Punjab and Fatima Fertilizer Co Ltd were the major gainers while Attock Refinery, Soneri Bank, Lafarge Pakistan, Gharibwal Cement and Grays Of Cambridge 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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