Karachi Stock Exchange Weekly Analysis 3 July, 2011

The Karachi Stock Exchange (KSE) market has managed to close on green zone. The Karachi Stock Exchange (KSE) 100-share index has reached 12,484.17 points by increasing 19.91 points or 0.15 per cent.

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

  • Upcoming corporate results – starting from mid July, will decide the movement of Karachi Stock Exchange index
  • Power and crisis are exceeding and tariffs are expected to be increased
  • Political turmoil and uncertainty, especially after the decision of MQM (Mutahida Qaumi Movement) to quit both the provincial and federal governments
  • Nestle was dominant throughout the week and increased up to 15 per cent during the week
  • FBR(Federal Board of Revenue) has reported that the target of tax collecting Rs. 1588 billion has been achieved
  • WTO (World Trade Organization) has announced to not granting GSP plus status to Pakistan. Which has badly affected the performance of textile sector
  • After decline in global markets, local investors are also not showing interest in buying
  • There is an expectation of urea price hike, that’s why investors are showing interest in buying Fertilizer stocks. Government is considering to increase gas supply rates for fertilizer companies

Nestle Pakistan, Wyeth Pak, Siemens Engg, Colgate Palmolive and Bata Pakistan were the major gainers while Unilever Pakistan, Rafhan maize, Philips morris, PSO, National Refinery 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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