Karachi Stock Exchange Weekly Analysis 28 Aug, 2011

The Karachi Stock Exchange (KSE) market activity was range bound throughout the week. KSE – 100 index has reached 10,901.76 points by gaining of 22.44 points or 1.74 per cent.

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

  • Global Capital Markets and International oil prices have witnessed a recovery
  • Renewed foreign interest in blue chips has also helped market to recover
  • Law and Order situation become worst in Karachi
  • Zulifiqar Ali Mirza resigns, after putting some serious implications on Rahman Malik and MQM
  • According to analysts, stocks ended higher in the earnings announcements session at KSE this week led by oil, fertilizer and banks on strong valuations
  • Circular debt issue in Pakistan’s energy sector becoming increased
  • Next week will also remain range bound, because no positive trigger is expected and next week will also very short (two days) because of Eid holidays
  • US$ has reached a new record level against Pakistan Rupee
  • Textile exports down by 15.3% MoM in Jul‐11
  • PSO in urgent need of PRs35bn to avoid default
  • Weekly inflation is up by 15.94 percent

Rafhan Maize, Service Ind., Attock Petroleum, POL, Indus Motors, Gharibwal Cement, Attock Cement, Standard Chartered Bank, Sui Southern Gas and Azgard Nine were the major gainers while PNSC, National Bank of Pakistan, Pak Cables, Pakistan Refinery, Nestle Pak, Siemens Engg., Colgate Palmolive and Pakistan Tobacco Company were major losers at KSE this 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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