Karachi stock market showed a mixed trend as Karachi stock exchange -100 index lost 344 points during the week.It performed well in the first three days of the week as index climbed 81 points but falling oil prices and instability at the political front heavily affected the stock market progress.Greek debt crisis and Chinese stock market crisis also played an important role in affecting the market.This negative trend also influenced the investing behaviors of foreign investors as they sold net equity of $ 23 million during the week.
Source : Express Tribune
Karachi stock exchange started the week at 35456 points and ended the week at 35112 points.The average weekly share trading volume saw an increase of 6% during the week.The average weekly share trading volume was 1890 million shares this week as compared to the volume of 1780 million shares last week.Following are top gainer and loser companies at the Karachi stock market.
|Unilever Pakistan Food Limited [61,576,000]||7,850.00||8,200.00||350.00||8,300.00||7,950.00||8,148.50||220|
|Nestle Pakistan [453,496,000]||9,738.00||10,000.00||262.00||10,005.00||9,551.00||9,959.09||420|
|Wyeth Pakistan Ltd [142,161,000]||2,300.00||2,414.00||114.00||2,414.00||2,300.00||2,357.00||40|
|Colgate Palmolive (Pakistan) Ltd [479,549,000]||1,517.00||1,600.00||83.00||1,645.00||1,515.00||1,585.79||4,120|
|Sapphire Textile Mills Ltd [200,831,000]||575.10||640.00||64.90||640.00||585.00||621.84||500|
|Bata Pakistan Ltd [75,600,000]||3,850.00||3,705.50||-144.50||3,900.00||3,670.00||3,783.91||1,340|
|Exide Pakistan Ltd [77,686,000]||1,238.38||1,105.08||-133.30||1,250.00||1,100.01||1,148.46||3,820|
|Siemens (Pakistan) Engineering Co Ltd [82,470,000]||1,275.00||1,177.28||-97.72||1,289.00||1,170.00||1,232.40||6,040|
|Service Industries Ltd [120,288,000]||906.01||854.44||-51.57||906.00||852.63||885.56||9,250|
|Fazal Textile Mills Ltd [61,875,000]||382.00||331.00||-51.00||365.00||331.00||355.85||4,800|
Source : Business Recorder
Top performing sectors
Cement sector,banking sector and insurance sector were three top performing sectors of the week at the Karachi stock market.Cement sectors again performed exceptionally during the week as it got record sales in the last month.Banking sector also performed well due to rising deposits.Insurance share prices rose by 4% during the week.
Top sector to invest
Cement sector is the top performing sector of the last few weeks at Karachi stock market.It is expected that it will continue its positive performance in upcoming weeks.In the cement sector, Bestway cement showed the best WOW performance.Its share price increased by 17% during the week.
Stock market analysts are expecting a positive trend after the Eid .The trading activity will be slow in the last week of the Ramadan. Eid holidays are approaching and people will be mostly busy in the Eid shopping.
It is expected that market will perform well after eid as economy is showing signs of improvement and investor sentiment is also generally positive about the market.But Political instability and falling oil prices are two gray areas who can negatively affect the market.