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Karachi stock exchange-100 index after mixed Week at Pakistan stock market

Karachi stock market saw a positive week as Karachi stock exchange-100 index climbed 164 points during the week.Despite of positivity at the stock market,foreign investors continued their selling streak throughout the week.They sold net equity of more than $ 10 million during the week.According to the stock analysts low inflation numbers ,recovery in the oil prices and positive news about cement and oil sectors helped the index enter into the positive zone.

According to the figures released by the Pakistan bureau of statistics ,inflation rate was 1.6 % for the month of October.This is the lowest inflation rate in last 12 years.Analysts believe that low inflation has positively affected the trading at the local stock market.

The Karachi stock exchange 100-index started the week at 34261 points and ended the week at 34427 points.The weekly average share trading volume showed 13.27 % increase as compared to the last week.The weekly share trading volume was 934.5 million shares this week as compared to the volume of 825 million shares last week.

karachi stock market

Cement and Oil/Gas sectors were the star performers during the week.Cement sector growth was fueled by sales growth of 10.6 % in the month of October.If we talk about the Oil and gas sector ,recovery in the international oil prices helped it to improve its position in domestic market.Pakistan state oil was the best performer of the oil and gas sector .Its share prices rose by 4.6 % during the week.Following are the major gainer and loser companies at the Karachi stock exchange.

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Philip Morris (Pakistan) Limited [615,803,000] 1,837.49 1,835.90 85.90 1,837.49 1,820.00 1,823.29 300
Shezan International Ltd [79,860,000] 785.00 787.00 37.30 787.00 785.00 776.92 650
Indus Motor Co Ltd [786,000,000] 1,132.00 1,147.54 14.48 1,150.00 1,129.00 1,140.18 11,480
Ghandhara Industries Ltd [213,044,000] 223.90 223.90 10.66 223.90 217.00 223.69 76,500
Khyber Tobacco Co Ltd [12,018,000] 384.25 393.00 10.08 402.06 384.25 395.06 3,900
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Nestle Pakistan [453,496,000] 9,010.00 9,010.00 -290.00 9,010.00 9,010.00 9,205.50 20
Unilever Pakistan Food Limited [61,576,000] 7,000.00 7,000.00 -120.00 7,000.00 7,000.00 7,000.00 20
Colgate Palmolive (Pakistan) Ltd [479,549,000] 1,421.00 1,424.00 -41.00 1,430.00 1,421.00 1,495.23 960
Noon Pakistan Ltd [117,612,000] 330.00 316.51 -16.62 336.99 316.48 320.02 34,000
The Searle Company Limited [1,030,089,000] 426.00 404.43 -16.41 432.00 399.89 414.08 850,100

Sector to watch out

Currently cement sector is the most attractive sector for the investors.It is expected that its shares will show more growth especially after the start of construction activity of the Pakistan-china economic corridor.

Future Outlook

Stock analysts are expecting a positive trading activity in the upcoming week.The most important reason for their optimism is the expected recovery in oil prices and the expected discount rate cut.Other than that stock market will be affected by the expected depreciation in the rupee .The negative trend in the international stock market can also play a negative role in upcoming week.

About Emaad Qureshi