On May 16, 2014, Friday, KSE 100 index of Karachi Stock exchange was closed on 28883.33 points with a positive activity trend following an average increase of 40.31 points and a total volume of 94,693,380 shares increased were traded during the trading week. Highest volume of all index was 29032.60 points and lowest was 28843.02 points. This implies that Karachi Stock market was not volatile and pointing over the conscious trading activity by the stock traders all week long. Total volume of shares traded was 132,574,750 shares of 371 companies out of which 222 observed a rise, 134 companies had a loss and price of 15 companies remained unchanged on an average.
Most popular sector of this week was textile sector after the announcement of no load shedding by the government with 28,332,160 shares. Following by the statement of finance minister Mr. Ishaq dar, KSE gained 315 points on Friday, May 16. It was a bullish day during the first half but news remained failed to make a difference for a long time due to inherent uncertainty. This situation is expected to prevail until the budget of FY-14-15 will be unveiled. Up till then, investors will seldom show interest in risk taking decisions.
|Top Gainers||Top Losers||Volume Leaders|
|Bata Pakistan Ltd||Rafhan Maize Products Ltd||K-Electric Limited|
|Siemens (Pakistan) Engineering Co Ltd||Wyeth Pakistan Ltd||Nishat Mills Ltd|
|Sanofi-Aventis Ltd||Indus Dyeing & Manufacturing Co||The Bank of Punjab Ltd|
|Murree Brewery Co Ltd||Khyber Tobacco Co Ltd||Chanab Ltd|
|Pakistan Tobacco Co Ltd||National Foods Ltd||Azgard Nine|
|Packages Ltd [843,795,000]||Indus Motor Co Ltd||Nishat (Chunian) Ltd|
|Fazal Textile Mills Ltd||Sunrays Textiles Mills Ltd||Fauji Cement Co Ltd|
|Hino Pak Motors Ltd||JDW Sugar Mills Ltd||Mepal Leaf Cement Ltd|
|Colgate Palmolive (Pakistan)||CYAN Ltd||National Bank of Pakistan|
|Philip Morris (Pakistan) Limited||Ferozsons (Laboratories) Ltd||Pakistan State Oil Co Ltd|
Top news that affected the investors’ sentiments this week is as follows:
– Finance minister of Pakistan Mr. Ishaq Dar states that economy of Pakistan is about to take off and the growth and development is very stable. Investors’ sentiments were positively affected by this news, but did not last for longer.
– Pakistan Steel Mills (PSM) had received the approval of a development fund of 4.2 Billion PKR from the government. Followed by the approval, it has received the first installment in due course.
– Government has announced no electricity shortfall load shedding in the upcoming time. This boosted up the stock trading activity and sector of the week was textile sector. It is a positive news for industrial activity resumptionby