Karachi stock market saw another dull and flat week as Karachi stock exchange-100 index dropped by 433 points during the week.Stock traders are waiting for the Federal budget 2015-16 and they are observing the moves of government very closely.Surprisingly historic cut of 100 Bps in the discount rates also failed to check the sliding trend of the Karachi stock market.The news about CGT (Capital gain tax) and GDIC (Gas infrastructure development cess) bill also played an important role in the negative trend at the market.
Karachi stock exchange-100 index closed the week at 32605 points, which is a 1.31 % drop as compared to the last week.The average weekly share trading volume showed a sharp decline of 43 % as compared to the last week.It was 545 million shares this week as compared to the 955 million shares last week.Following are the top 5 major gainers and loser companies of the week at the Karachi stock market.
|Indus Dyeing & Manufacturing Co [180,737,000]||731.64||869.20||137.56||924.98||768.19||832.09||2,000|
|JDW Sugar Mills Ltd [597,766,000]||275.33||307.00||31.67||309.98||284.00||301.47||12,100|
|Exide Pakistan Ltd [77,686,000]||1,068.54||1,099.98||31.44||1,120.00||1,075.00||1,091.16||3,000|
|Shezan International Ltd [79,860,000]||955.00||985.00||30.00||985.00||985.00||985.00||100|
|Noon Pakistan Ltd [117,612,000]||62.65||75.98||13.33||75.98||60.50||70.11||29,000|
|Bata Pakistan Ltd [75,600,000]||3,391.50||3,228.58||-162.92||3,301.00||3,222.00||3,228.58||240|
|Wyeth Pakistan Ltd [142,161,000]||2,400.00||2,280.00||-120.00||2,280.00||2,280.00||2,280.00||20|
|Island Textile Mills Ltd [5,000,000]||735.00||665.10||-69.90||770.00||665.10||707.47||250|
|Pakistan Tobacco Co Ltd [2,554,938,000]||903.00||857.85||-45.15||857.85||857.85||869.21||50|
|Sapphire Fibres Ltd [196,875,000]||560.05||515.00||-45.05||535.00||485.00||513.58||2,100|
Source : Business Recorder
According to the stock market analysts same trend will continue till the announcement of the Federal budget 2014-15.They believe that any negative news about the CGT or any other tax can cause negative triggers in the market.Political instability can also affect the proceedings of the Karachi stock market.So stock investors should hold their positions till the announcement of the Federal budget 2014-15.by