Karachi stock market showed a mixed performance this week.The Karachi stock exchange -100 index rose by 49.8 points during the week.The lackluster performance of the market was mainly due to profit taking by the investors and rising coal prices.Karachi stock market showed a little improvement in last two trading days.This improvement was mainly due to foreign buying and good corporate results.
The average weekly share volume saw a 28.30% decrease as compared to the last week.The weekly share volume at the market was 1060 million shares .The market value increased by 0.01 Trillion during the week,as it increased from Rs 7.73 Trillion to Rs 7.74 Trillion.
The Karachi stock exchange -100 index saw 49.80 points increase ,as it increased from 33943 points to 33993 points during the week.Following are the top 10 gainers and losers of the week at the Karachi stock exchange.
Food sector was the major gainer of the week,as its major stock Engro rose by 5% during the week.This rise of the Engro stock contributed 50 points to the Karachi stock exchange-100 index.
Following important news caused fluctuation sin the Karachi stock exchange-100 index during the week
- Pakistan government inked a deal of importing $21 Billion LNG worth from Qatar.
- Foreign exchange reserves reached $16.04 billion level
- State bank of Pakistan reduced the inflation target for the year from 8% to 5%
- The net Foreign equity investment was $9.3 million during the week
- Oil prices fell in the international market
Financial experts are expecting an another mix week for the investors. According to them Karachi stock market will be dictated by corporate results in the next week.Experts are advising small investors to adopt a wait and see policy ,as it is expected that Karachi stock market will recover in the next week.