Karachi stock market saw a positive week as Karachi stock exchange -100 index rose by 873 points during the week.The most important reason for this positive trend was sudden rise in the international oil prices.The stock market started the week with a negative trend but the situation improved in next four days mainly due to increase in the international oil prices.The small and large investors both showed their interest in the oil and gas sector.
Local investors showed their complete interest in the market but foreign investors were still confuse about the prospects of the Karachistock market.They offloaded net equities of about $ 19.8 million during the week.Oil and gas sector was the top performer in the whole week.Following are the major gainer and loser companies of the week.
|Island Textile Mills Ltd [5,000,000]||917.49||917.49||43.60||917.49||917.49||917.49||50|
|Sapphire Fibres Ltd [196,875,000]||711.16||711.16||33.86||711.16||700.00||710.74||2,750|
|Pakistan Oilfields Ltd [2,365,459,000]||317.10||324.78||14.55||325.70||316.00||322.47||996,400|
|Shifa International Hospitals Ltd [505,138,000]||309.00||311.18||14.03||312.00||301.00||309.04||117,700|
|Exide Pakistan Ltd [77,686,000]||1,001.48||992.67||12.10||1,001.50||989.99||994.57||160|
|Indus Dyeing & Manufacturing Co [180,737,000]||1,059.73||1,059.73||-55.77||1,059.73||1,059.73||1,059.73||150|
|Pakistan Tobacco Co Ltd [2,554,938,000]||940.00||942.00||-33.00||942.00||940.00||941.00||100|
|Siemens (Pakistan) Engineering Co Ltd [82,470,000]||1,030.00||1,030.00||-30.75||1,060.00||1,008.00||1,020.52||1,460|
|Sunrays Textiles Mills Ltd [69,000,000]||409.59||397.87||-11.72||397.87||397.87||430.06||—|
The weekly share trading volume at the stock market showed an overall decrease of 1.7 % during the week.The weekly share trading volume was 875 million shares as compared to 890 million shares last week.The market capitalization stood at Rs 7.23 trillion at the end of the week.
Karachi stock exchange 100-index started the week at 32969 points and ended the week at 33843 points.The oil and gas sector was the top performer of the week as it grew by 8.6 % during the week.This sector alone added 211 points to the index. OGDCL and Pakistan petroleum were the two best performing stocks in the whole week.
Market analysts are expecting a very positive trends in the upcoming week.The positive macroeconomic outlook of Pakistan,recovery in the international oil prices and recovery in the international stock market are three most important reasons for their optimism.The instability in the domestic political scene can negatively affect the stock market in upcoming days.