Pakistanstock market saw another positive week as Karachi stock exchange -100 index climbed by 1180 points during the week.The market started the week on a positive note and continued its upwards movement throughout the week.The low interests rates and recovery in the international oil prices were the two main reasons for this upwards movement of the stock market.
The Karachi stock exchange-100 index started the week at 31298 points and ended the week at 32478 points.The weekly share trading volume was 577.20 million shares.It showed a 24 % increased as compared to the share volume of the last week.
Domestic investors played an important role in creating a positive investor sentiment at the market.They showed interested mostly in Oil and gas , banking and cement sectors.
Foreign investors remained net sellers during the week as they sold net equity of a $ 2.2 million during the week.Following are the major gainer and loser companies of the week at the Pakistan Stock exchange.
|Hino Pak Motors Ltd [124,006,000]||1,032.95||1,095.75||62.80||1,095.75||1,010.00||1,051.95||106,950|
|Abbott Laboratories Pakistan Ltd [979,003,000]||610.00||668.05||58.05||670.00||600.12||629.27||29,350|
|Shield Corporation Ltd. [39,000,000]||558.90||616.18||57.28||616.18||586.84||616.18||600|
|Mari Petroleum Company Limited [1,102,500,000]||615.47||670.57||55.10||670.57||610.01||633.20||1,507,150|
|Nestle Pakistan [453,496,000]||7,200.00||7,250.00||50.00||7,250.00||7,250.00||—||—|
Best performers of the week
Cement,energy and banking sectors were the star performers during the week.Oil and gas sector improved its position mainly due to recovery in the international oil prices.Oil and gas companies like PSO,Shell and Mari Petroleum showed very good growth.The shares of PSO,Shell and Mari Petroleum rose by 5.61 % ,8.59 % and 8.95 % respectively.
Banking sector also performed well mainly due to good corporate results.The share prices of Habib Bank LTD ,National Bank and MCB increased by 12.28 %,7.51 % and 5.80 % respectively.
Investors showed special interest in the Cement sector stocks.The stock prices of Kohat Cement, Attock cement and Lucky Cement rose by 1.53 % , 5.26 % and 7.21 % respectively during the week.
Stock Market analysts are expecting a market correction in the upcoming week.According to them ,the weak performance of the regional stock markets and falling oil prices may influence the market in the upcoming week.