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Karachi stock exchange -100 index rose by 1231 points

Pakistan stock market saw a positive week as   Karachi stock exchange-100 index  climbed by 1231 points during the week. The surge in the oil prices and institutional buying were two factors affecting the market sentiment of the Pakistan stock market. Foreign investors showed minimum interest in the local market.Net foreign portfolio investment was $ 2 million during the week.

Pakistan stock market started the week on a positive note and continued its momentum throughout the week.The Karachi stock exchange-100 index  rose by 433 points on the first day of the week.The stock market saw  institutional buying by the big investment funds companies on that day.The next four days saw a rise of  789 points  in the Karachi stock exchange-100 index .The surge in the international oil prices dictated the investing behaviors of the stock market investors.

Karachi stock exchange-100 index started the week at 47806.97 points and ended the week at  49037.97 points. The weekly share trading volume showed an increase of 43 %  as compared to the last week. The weekly share trading volume was  approximately 2041 million shares as compared to the last week’s volume of 1430.21 million shares.

Best and Worst Performing companies

Oil /Gas sector,Cement sector and Fertilizer sector showed a considerable growth during the week.Cement sector and fertilizer sector grew by 2 % and 7 % respectively.Tobacco sector was the major loser of the week.

Future Outlook

Market analysts are expecting a positive outlook of stock market.Political environment and oil & Gas  sector will play an important role  in affecting the investor buying behaviors. Panama case is creating uncertainty and investors are keeping an eye on this case.The current government is facing political pressure from opposition parties as Panama case  is in its full swing.Supreme court has decided to start day to day proceedings of this case.Supreme court has declared it as the most important case of its history.

Textile sector is expecting  a major package from the prime minister next week.This package can really boost the textile sector and it will also bring investment in the sector.This package includes concessionary rebates and removal of regulatory duties etc. Stock market investors should keep an eye on this package.After the approval of the package, textile sector can be a good long run investment option for investors.

Oil market analysts are expecting a mixed trend in the international oil market. Oil market can face profit taking in the next week.Investors should offload their positions in the Pakistan stock market.This will help them to maximize their returns.They can buy back shares at dip.

Pakistan’s total sales for urea for the month of December 2016 are expected  to hover 0.9 million to 1 million tons.This will be  20 %  increase as compared to the same month of the last year .The improved cotton crop as compared to last year was the major contributor of this rise.The cotton crop showed an increase of 30 % as compared to the last year.This news can really affect the fertilizer sector shares traded at Pakistan stock market .So this sector is very good investment option or the short run.

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About Emaad Qureshi