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Karachi stock exchange-100 index climbed by 2116 points

Pakistan stock market saw a positive week as Karachi stock exchange-100 index rose by 2116 points during  the week. The surge in the oil prices and health performance of the Cement sector were two main reason for the sentiment at the Pakistan stock market.

Foreign investors still looked uninterested in the Pakistan stock market.The foreign investors sold net equities of about $ 25 million during the week.

Pakistan stock market started the week at a positive note and continued its upward momentum throughout the week.Pakistan stock market started the week with a positive sentiment mainly due to surge in the oil prices.The index rose by 469 points on the first day of the week.The Karachi stock exchange-100 index rose by 1645 points during the last four days of the trading week.Cement sector played an important role in affecting the trading behavior of the investors in last four days of the week.

Karachi stock exchange-100 index started the week at 43270 points  and ended the week at 45387 points.The weekly shares trading volume showed an increase of 20 % as compared to the last week.The current week’s trading volume was 2784 million shares as compared to the last week’s trading volume of 2320 million shares.


Best and Worst Performing Sectors

Cement and Oil/Gas sector were two best performing sectors at the Pakistan stock market.The oil sector was helped by the international oil price surge during the week.Oil and Gas sector shares like Pakistan Oil and Mari Petroleum performed very well.The shares of Pakistan Oil and Mari Petroleum rose by 5.59 % and 14.60 % respectively.

Cement sector also performed very well during the week.This sector grew by 11.6 % during the week.Cement sector was helped by the announcement of the expansion plans of the Lucky Cement. Lucky Cement share prices grew by 16.65 % during the week.The Lucky Cement alone added 307 points to the Karachi stock exchange-100 index.

Future Outlook

Market analysts are quite upbeat about the market.The upcoming federal reserve meeting and international oil market will play an important role in the upcoming week.

Market analysts believe that Federal reserve is planning to increase the interest rates in its upcoming meeting.It will increase interest rates at least by 0.25 % .The increase in the interest rates can negatively affect the US stock market.And that can really affect the Pakistan stock market in upcoming week.

The OPEC countries have agreed to cut their global oil production. The actual size of curb in the oil production is still not certain.But still Oil sector is very good for short term investment.It is expected that international oil prices will increase in next few days.So,investors can maximize their short term returns by investing in the oil and gas sector.


About Emaad Qureshi