Karachi Stock market showed a dismal performance this week,as Karachi Stock Exchange-100 index fell almost 579 points.Peshawar massacre and decreasing oil prices were two key events, who negatively affected the proceedings of the market. Karachi Stock Exchange-100 index started at 31589 points on Monday and ended at 30111 points on Friday.The overall value of the index decreased by 1.88 % to Rs 7.13 Trillions.The weekly share volume was 1015 million shares,which is 15% decrease as compared to last week’s share volume of 1190 million shares.
Stock traders mostly showed their interest in gas sector and its shares prices showed considerable increase in the week.Following companies are major gainers of the week.
Top 5 Gainers of the week
Following important news affected the stock market during the week.
(i) PTI ended their 126 days long sit-in after the Peshawar massacre
(ii) IMF approved $ 1.05 Billion loan for the country
(iii) Foreign Portfolio investment outflow increased by 25% this week
(iv) Prime Minister lifted the Moratorium on the death penalties
(v) Overall political climate improved with the resumption of PTI-government talks.
Market analysts are expecting an overall very positive trend in the Karachi stock market next week,as lots of positive news are coming from different corners.Resumption of talks between government and opposition has eased the months long political tension. Analysts are advising the investors to start buying in the textile and banking sector.They want investors to hold their investment in the oil sector,as downward price movement is expected in the oil sector. Government should play its positive role in solving the political crisis with open mind,which is very important for the long term progress and development of the stock market.