Karachi Stock Exchange Weekly Analysis 18 September, 2011

The Karachi Stock Exchange (KSE) market activity was bullish. KSE – 100 index has reached 11,353.46 points by gaining of 67.25 points or 0.59 per cent. According to experts, global capital markets remain jittery and domestic political situation is far from conductive for investors. These factors can badly affect KSE market in upcoming week.

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

  • As the result season gradually approached to finish line, Companies (especially blue chips) have announced better than expected results
  • The centre of attention were fertiliser stocks, National Bank of Pakistan, petroleum exploration companies and Lotte PTA
  • Investors seems cautious, because of current rain-cum-flood in Sindh
  • Flood has also adversely affected the agriculture growth in the country
  • Asian Development Bank (ADB) downgraded its growth projections for Pakistan to 3.7% from 4.5%
  • Higher import payments put pressure on the PKR as it already depreciated by over 2% against USD from Jul-11
  • Record remittances have been received of worth $1.31 billion, during the month of August
  • Cement prices have been surged by Rs. 7 – 17 per bag
  • US have announced to construct six power plants in Pakistan
  • The morale of investors will be down after the decision of the government to end IMF loan programme

Mari Gas, Bata (Pakistan), Attock Cement, Sui Northern Gas Ltd and P.I.A.C. were the major gainers while NetSol Technologies, Attock Refinery, Gharibwal Cement, Bestway Cement and Pace (Pak) Ltd 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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