Karachi Stock Exchange showed a mixed performance this week,as the KSE-100 index rose by 241 points during the week.The stock market was going well and the market index touched 34330 points on Wednesday ,but it was pushed down by continued selling by big investors present in the market .Karachi Stock exchange started the week at 33786 points and ended the week at 34027 points.The index value increased by 0.74% during the week,as it increased from Rs 7.86 Trillion to Rs 7.91 Trillions.The average weekly share trade volume showed a downward slide,as it decreased from 1657 million shares to 1511 million shares.
The average investor’s sentiment about the stock market is still quite positive even after bad news about the economy in the wake of power and petrol shortages in the country.Following are the top 10 gainers and losers of the market during the week.
The Oil and fertilizer sector showed a very good performance this week and they collectively added about 291 points in the index .Fauji fertilizers,Engro fertilizers and OGDCL benefited most from the positive developments in these two sectors.The small recovery in international oil prices and the positive new about the fertilizer industry were main causes of investor’s interest in these sectors.Foreign investors also showed considerable interest in the stock market,as foreign investors bought stocks of value more than $6 Million this week.
Following are the main news that affected the market during the week
- The international oil prices improved during the week
- The central bank is planning to decrease the interest rates by at least 1%
- The government of Pakistan has announced to spend Rs 40 Billion to control the petrol crisis prevailing in the country
- Hubco is planning to set up a 1,320-megawatt coal-fired power plant in the country.
- Electricity and gas load-shedding increased in the country.
The market analysts and investors are very optimistic about the future of the stock market,especially after the central bank’s decision to decrease the discount rate by 1%.So it is expected that discount rate will surely cause the Karachi stock exchange to climb in next week. The growing energy crisis and the political instability are the two main areas of concern for the government,as economy is gradually recovering after years of bad performance.So according to the stock market experts,these two issues can greatly affect the future of the stock market and also the economy.