Karachi stock market showed a very poor performance this week,as KSE-100 index fell 310 points and lost more than 1% value.KSE-100 index opened at 30015.8 points and closed at 29705 points.According to the financial analysts poor performance is mostly due to the political instability,profit taking,deteriorating law-order situation and upcoming Eid festival .If we talk about top performing companies ,following is the detail of the major performers this week.
Top performers of the week
|Pak Elektron Ltd||27.19||-1.20||-4.23%||7,122,500|
Following are the important things that will dictate the market performance in the coming week
(i) Eid festival is coming in next week
(ii) Cautious behavior of the investors due to ongoing political crisis in the country
(iii) Government’s plan to sell OGDCL shares in the market for the general public
(iv) Constant discount rate policy of the state bank
It seems that political uncertainty will continue in the next week too,so financial analysts are expecting a mixed week for the investors and the stock market.