The Pakistan stock market ended at a bullish trend. It was the fifth consecutive winning streak on the last day of 2016. The KSE-100 gained 140 points and closed at 47,806 indexes, new all time high.
Next week in the stock market will start with the New Year, 2017. The New Year will come with lots of expectation for the shareholders. So, what are top five news that will affect the PSE in the first week of the New Year?
Pakistan Political scenario again showing bit uncertainty due to the dramatic entry of Mr. Zardari. Pakistan People Part activities are very much in the news these days. Mr. Zardari, who is a former chairman of PPP and the President of Pakistan, criticized the current government trade policies.
Moreover, the Panamagate is still not closed for the PML-N government. The hearing will start at 4-Jan-2017 headed by Justice Asif Saeed Khosa. The current government is facing pressure from their opposition parties and creating little uncertainty for the investors in the stock market.
Oil prices are back in the news!
Pakistan oil consumption heavily depends on the import of the oil which is mainly purchased from the gulf countries. In the end, the investors are closely monitoring the change in oil prices in the international market. Soon or later, it will affect the Pakistan market as well.
Cement sector continued its record -breaking streak
Are you thinking to buy shares of cement companies? Then don’t waste your time because cement sector is on the roll for the fourth consecutive week. According to stock market analysis, cement is on the third place in terms of volume. Fauji cement was the major contributor to the indexes. The investors showed a keen interest in the shares of the Fauji cement because restart of the company closed plant. The company shares closed at PKR 45.
SECP wants quality companies in the PSX listing
Security and Exchange Commission of Pakistan is playing a vigilant role for the last couple of years. The SECP is forcing PSX to promote the quality listing. The companies with good track record, experienced management, and the credible resources will be able to tap capital market. The step will complement the sustainable growth and will maintain investor’s confidence.
Cotton Prices increased due to the demand from the spinners
The cotton prices increased at the end of the week. According to the recent report, the ginners were reluctant to sell their stock to get higher prices in the future.
What are the reasons for higher prices? The cotton production will not meet the expectations. According to a private assessment, the cotton production will not be more than 200,000 bales. The shortage supply of the quality cotton was another reason for the upward trend in the prices.