Karachi stock market saw a mixed week as Karachi stock exchange-100 index rose by 118.8 points.The market index failed to cross the psychological barrier of 34000 points.The rise and fall in the international oil prices was the major reason behind this market trend.The global stock market also played its part in influencing the domestic market.
The foreign and local investors both were confused about the future prospects of the stock market.The foreign portfolio investors sold net equities of $ 9 million during the week.
Karachi stock exchange-100 index started the week at 33851 points and ended the week at 33954 points.The weekly share trading volume saw 3.4 % rise as it was 905 million shares last week.The share trading volume was 875 million shares last week.following are the major gainer and loser companies of the week.
|Sapphire Fibres Ltd [196,875,000]||711.16||822.50||111.34||870.00||744.99||809.35||85,450|
|Khyber Tobacco Co Ltd [12,018,000]||331.55||423.11||91.56||423.11||342.00||384.03||6,900|
|Mitchells Fruits Farms Ltd [78,750,000]||355.00||440.90||85.90||442.68||354.00||400.18||22,900|
|Pakistan Tobacco Co Ltd [2,554,938,000]||942.00||998.50||56.50||999.99||965.00||986.75||500|
|Bhanero Textile Mills Ltd [30,000,000]||543.62||599.60||55.98||599.95||545.00||577.76||6,700|
|Unilever Pakistan Food Limited [61,576,000]||7,150.00||6,900.00||-250.00||7,000.00||6,800.00||6,933.33||100|
|Wyeth Pakistan Ltd [142,161,000]||2,290.00||2,200.01||-89.99||2,200.01||2,200.00||2,200.00||20|
|Shezan International Ltd [79,860,000]||750.50||693.33||-57.17||713.05||665.00||701.40||1,400|
|Service Industries Ltd [120,288,000]||865.00||826.17||-38.83||878.50||825.00||849.98||1,600|
|Hino Pak Motors Ltd [124,006,000]||1,087.62||1,063.97||-23.65||1,149.79||1,050.00||1,096.21||12,950|
The Banking sector was the top performer of the week.Its major shares National bank of Pakistan and Muslim commercial bank showed a 5.9% and 5.1 % increase during the week.this shows that banking sector is showing a substantial improvement after battering in last few weeks.
Market analysts expecting a same trend in next week.The immediate future of the prospects of the market are highly dependent on the oil prices and domestic political situation.The shortened trading week due to moharram holidays will also affect the trading volumes at the Karachi stock market.