Karachi stock market continued its upward movement this week,as Karachi stock exchange -100 index jumped 213 points during the week.The low inflation results for the month of January 2015 , international oil price recovery and another expected discount rate cut were three main reasons for this positive trend in the market.
Karachi stock exchange -100 index opened at 34443 points and closed at 34656 points.The index value increased by 0.63 % during thew week.The weekly share trade volume saw an increase of 9.9% during the week.Following are the top gainers and loser of the week at the Karachi stock market.
Current week was very good for the oil and gas sector companies,as investors showed considerable interest in its shares.The main reason for this interest was almost $ 10 recovery in the international oil prices.Oil and gas companies like PPL,POL and OGDCL attracted huge amount of investments from the investors.This sector alone added 184 points in the Karachi stock exchange-100 index,which shows the power of this sector.
Current week was not so good for the foreign investors,as they mostly sold their scripts during the week.This selling pressure from the foreign investors shows their lack of confidence on the Pakistani stock market and economy.The banking sector was also a major loser of this week,mainly due to low inflation figures of the January 2015.This sector caused index to lose 143 point during the week.
Following news affected the market during the week
- The monthly inflation figures decreased from 4.3% in December 2014 to 3.88% in January 2015
- Foreign investors were major sellers of the stocks at the market.They caused outflow of almost $51.5 during the week
- The discount rate reduction is expected in upcoming weeks
- Energy crisis worsened ,as load-shedding increased in the country
- International oil prices increased by $10 in the global oil market.
Market analysts are expecting an another positive week for the Karachi stock market.According to the experts, low inflation figures and corporate results will influence the stock market in next week.The banking sector will see another bad week,as low inflation will leave its bad affects on this sector.