Karachi Stock Exchange Weekly Analysis 24 July, 2011

The Karachi Stock Exchange (KSE) market has witnessed a bullish trading week. The Karachi Stock Exchange (KSE) 100-share index has reached 12,346.52 points by the increment of 130 points or 1.12 percent.

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

  • Fine results are expected during upcoming week. Especially from energy, fertiliser, and banking sectors. Major highlight of next week will be the results FFC and FFBL
  • FBR (Federal Board of Revenue) has made a draft amendments to the way CGT (Capital Gain Tax) is calculated
  • SBP (State Bank of Pakistan) will announce next Monetary Policy in coming Saturday. And according to experts it will keep the discount rate unchanged
  • The resignation of SBP (State Bank of Pakistan) has been accepted
  • According to analysts, government of Pakistan is borrowing from the financial industry up to Rs. 2.9 trillions. This is up by 33 per cent as compare to last year. It is creating problems for private sectors to borrow from banks
  • MQM leader Ishrat ul Ibad, has take charge of his Governor post. This news has provide confidence to local investors
  • But on the weekend law and order situation in Karachi was again deteriorated
  • Average daily volume jumped 112 percent over the previous week to 85 million shares. This also includes extraordinary trading in cheap right shares of the NIB Bank in the last session
  • US Congress has rejected the proposal to cut all aid of Pakistan
  • ICI is planning to invest Rs. 2 Billion for coal equipment at soda ash unit
  • The export of textiles in Pakistan has reached $13.07 Billion
  • Attock Refinery has initiated $27 million expansion project

Kohinoor Energy, Rafhan Maize, Faysal Bank, Arif Habib Corporation and Azgard Nine were the major gainers while Grays Of Cambridge, Gharibwal Cement, Nestle Pakistan Limited., Ibrahim Fibers and E.F.U. Life Assurance 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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