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Weekly Report : Mix Trend at Karachi stock market

karachi stock ExchangeKarachi stock exchange saw a mix trading week as Karachi stock exchange-100 index fell by 72 points during the week.The market started the week positively on the first day and  it crossed 36000 points that day.But falling oil prices in the international stock market checked its progress as investors became cautious ,so after that market performance continued to be negative in last two trading days.Other than that excessive selling by foreign investors also played an important part in the negative trend as they sold net equity of  $7.9 million during the week.The unchanged monetary policy also affected the market sentiment as investors were expecting an interest rate reduction after low inflation results for the month of June 2015.

karachi stock market

The oil and gas sectors greatly influenced the stock market index ,as it makes 31% of the total weightage of Karachi stock exchange 100-index.The main reason for the slide in the oil prices was Iranian nuclear deal.This deal lifted numerous economic sanctions on the country.The news of the Iranian nuclear deal pushed the oil prices below the %50 per barrel as it is expected that Iranian oil will soon enter the international oil market in coming months.

Karachi stock exchange 100-index started the week at 35887 points and ended the week at the 35815 points.The weekly share trading volume was 1980 million shares which was 37.8% increase as compared to the last week.The major loser and gainer companies of the week are as follows

Top 5 Gainers
Company Rate Turnover*
Open Close Diff High Low Avg.
Rafhan Maize Products Ltd [92,364,000] 10,500.00 11,019.95 519.95 11,019.95 11,019.95 11,019.95 20
Nestle Pakistan [453,496,000] 10,245.00 10,600.00 355.00 10,699.00 10,000.00 10,269.68 2,100
Wyeth Pakistan Ltd [142,161,000] 2,414.00 2,534.00 120.00 2,534.70 2,534.00 2,534.35 40
Hino Pak Motors Ltd [124,006,000] 858.64 900.01 41.37 921.29 865.00 894.60 209,650
Sapphire Textile Mills Ltd [200,831,000] 640.00 670.22 30.22 671.89 670.00 670.10 1,850
Top 5 Losers
Company Rate Turnover*
Open Close Diff High Low Avg.
Bata Pakistan Ltd [75,600,000] 3,550.00 3,373.17 -176.83 3,375.00 3,373.00 3,289.42 320
Shezan International Ltd [79,860,000] 950.00 887.75 -62.25 930.00 870.50 922.75 9,200
Murree Brewery Co Ltd [230,530,000] 1,005.00 950.00 -55.00 1,010.00 950.00 983.33 3,800
Atlas Battery Ltd [173,996,000] 829.00 785.28 -43.72 839.00 783.75 805.43 3,050
Ferozsons (Laboratories) Ltd [301,868,000] 756.48 717.45 -39.03 764.99 715.00 738.57 27,000

Top performers of the week

The banking sector was the best performers of the week.The baking sector alone contributed 105 points to the Karachi stock exchange -100 index during the week.The share prices of large shares like MCB and NBP increased by 3.5 % and 6.4% during the week.

Future Outlook

According to the market analysts Karachi stock market will continue showing mix trends in upcoming days.The macroeconomic indicators are mainly positive but falling oil prices are posing a serious threat for the stock market. The decision of the judicial commission has stabilized the local political scene as PTI eventually accepted its decision.It will leave  a positive affect on the stock market in coming weeks.

About Emaad Qureshi