Karachi stock market saw an extremely volatile week as Karachi stock exchange 100- index fell by 556 points during the week.The rise and fall in the stock index was influenced by various domestic and international factors.The stock market started the week at a positive note as index climbed 279 points on Monday.The rising oil prices helped the market to make some gains on the first day of the trading week.
The much awaited increase in the gas prices also contributed to the negative trend of the stock market in last few days of the trading weeks.The government increased by 10-21 %. The Chinese economy and its stock market is going through a rough patch nowadays.This slowdown is badly affecting the Karachi stock market as investors are still confused about the immediate future of the Chinese market.
The anti-corruption drive by the government and SECP is also creating doubts in the minds of the investors.The low inflation figures also failed to pump some positivity in the stock market ,as market was filled with so much bad news all over.
The Karachi stock exchange 100-index started the week at 34447 points and ended the week at the 33891 points.The average weekly share trading volume showed a 7 % fall as compared to the last week.The average weekly share trading volume was 1445 million shares as compared to 1560 million shares last week.
The stock investors showed interest in cement,chemical and communications sectors.Investors were not interested in heavy weight oil and gas stocks due to falling oil prices in the international markets.Following are the top gainer and loser companies of the week at the Karachi stock market.
|Murree Brewery Co Ltd [230,530,000]||1,088.00||1,088.00||48.52||1,088.00||1,088.00||1,088.00||100|
|Siemens (Pakistan) Engineering Co Ltd [82,470,000]||1,160.00||1,145.00||35.00||1,160.00||1,130.00||1,155.00||40|
|Pakistan Tobacco Co Ltd [2,554,938,000]||900.00||950.00||19.00||950.00||888.05||921.86||2,150|
|Al-Ghazi Tractors Ltd [289,821,000]||478.90||483.00||13.40||483.00||478.90||481.73||400|
|Colgate Palmolive (Pakistan) Ltd [479,549,000]||1,350.00||1,350.00||-53.67||1,350.00||1,350.00||1,350.00||60|
|Sunrays Textiles Mills Ltd [69,000,000]||432.25||432.25||-22.75||432.25||432.25||432.25||100|
|Hino Pak Motors Ltd [124,006,000]||1,070.00||1,060.00||-20.33||1,070.00||1,052.50||1,050.02||700|
|Millat Tractors Ltd [442,925,000]||636.99||640.15||-15.69||659.99||636.99||642.49||32,300|
|ICI Pakistan Ltd [923,590,000]||510.00||505.76||-13.72||514.95||504.25||502.27||4,200|
Courtesy: Business Recorder
Market analysts are still unclear about the future prospects of the domestic and international stock markets.The main reason for their pessimism is due to prevailing negative trend in the Chinese and international stock markets. The recovery in the international markets will certainly positively affect the Karachi stock market in forthcoming days.The anti-money laundering and anti corruption drive by the government can also negatively affect the market in the upcoming weeks.