Karachi Stock Exchange Weekly Analysis 14 Aug, 2011

The Karachi Stock Exchange (KSE) market has witnessed a bearish trading week but has managed to close above psychological level of 11,000 points. KSE – 100 index has reached 11,262.04 points by shedding of 113.05 points.

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

  • Global markets will also define the direction of KSE (Karachi Stock Exchange) next week
  • In order to stabilise markets Turkey, Spain, Belgium, France, Italy, Greece and South Korea all banned short-selling
  • Events at the US markets saw one of the worst declines in Dow Industrial and S&P 500 indices, which triggered a worldwide sell-off of equities
  • Recovery in international oil prices, institutional interest in blue chips - oil, banks and fertilizer sectors - on strong valuations supported the market a little bit during major earnings announcements this week
  • Political turmoil, uncertainty and terrorist activities in country has made investors more cautious
  • KSE – 100 index was trying to rise in last two sessions, but selling of OGDC, ENGRO and NESTLE Pakistan kept the market subdued
  • Engro, Nishat, PSO, Pakistan Oilfields, Millat Tractors and Pakgen all made the maximum increase in different sessions
  • According to National Clearing Company of Pakistan (NCCPL), the major buyers in the stock markets were foreign investors and mutual funds
  • Financial results of OGDC and PSO were good as expected, but ENGRO has really disappoint investors

Lotte Pakistan, NBP, AZGARD NINE, PTCL and Fauji Fertliser Bin Qasim were volume leaders. Unilever Foods, Colgate Palmolive, Nat. Refinery, PSO and Bhanaro Tex were major gainers while Nestle Pak, Wyeth Pak, Rafhan Maize, Siemens Engg, and Hinpak Motors 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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