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Weely Karachi Stock Market Report (From 16th June to 20th June 2014)

KSEThe last week at Karachi Stock market observed a major correction in response to several speculations. Karachi Stock Exchange- 100 index was witnessing ups and downs and it did not get any major correction since long. Hence, according to the expectations it got a corrective change till the end of June. Consequently, during the last week, in result of a major correction Karachi Stock Exchange-100 index closed on 28,692 as compared to the last week of 29, 731 points after losing 1039 points. The extremely bearish position caused many traders to go back home after huge losses at Karachi stock market. The week on week (WoW) volume was also bent down due to excessively bearish activity all along.

It is expected that next week will also show a downturn and market can even face a breakout. It is most probably due to the political uncertainty in the country. The threatening activities for the current industrialist government are also a source of very negative sentiment for the traders. In is being anticipated that next week is also not too much fruitful for the Karachi Stock market trading activities. Even though the government’s youth scholarship schemes remained failed to grab the attention of people.

Following is the list of top gainers, top losers and volume leader companies along with their market capitalization : –

Top Gainers Top Losers Volume Leaders
Colgate Palmolive (Pakistan) Ltd [479,549,000] Rafhan Maize Products Ltd [92,364,000] Fauji Cement Co Ltd [13,311,158,000]
Shezan International Ltd [60,000,000] Murree Brewery Co Ltd [230,530,000] Pakistan Telecommunication Ltd (A) [37,740,000,000]
Indus Motor Co Ltd [786,000,000] Wyeth Pakistan Ltd [142,161,000] BYCO Petroleum [9,778,587,000]
Pak Suzuki Motors Co Ltd [822,999,000] Nestle Pakistan [453,496,000] Lafarge Pakistan Cement Ltd [13,126,445,000]
Fateh Industries Limited [20,000,000] Bata Pakistan Ltd [75,600,000] The Bank of Punjab Ltd [15,551,131,000]
Abbott Laboratories Pakistan Ltd [979,003,000] Philip Morris (Pakistan) Limited [615,803,000] TRG Pakistan [3,853,907,000]
Shifa International Hospitals Ltd [505,138,000] Hino Pak Motors Ltd [124,006,000] K-Electric Limited [96,653,179,000]
Ismail Industries Ltd [505,208,000] Fazal Textile Mills Ltd [61,875,000] National Bank of Pakistan [21,275,128,000]
Ghandhara Industries Ltd [213,044,000] Service Industries Ltd [120,288,000] Telecard Ltd [3,000,000,000]
Shahtaj Textile Ltd [96,600,000] Siemens (Pakistan) Engineering Co Ltd [82,470,000] Maple Leaf Cement Factory Ltd [5,277,339,000]


Following is the list of news which affected the market activity at the most during the last week:

– PTCL and PSO observed a declined after the news of ascending circular debt after the government’s announcement of clearing house

– The gossips about threatening situation for the government was major cause of underlying market correction at Karachi Stock market

– Government of Punjab has announced an auction ceremony of Ijara Sukuk in order to be premier at Islamic mode of shares

– Prime Minister of Pakistan has inaugurated the Mehar Gas Processing Plant which will reduce the sui gas shortfall this winter. Along with this, this will increase the reach of sui gas in several of the unreached regions of the country.

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About Emaad Qureshi