Source(Google.com.pk)
Stock Market Karachi Biography
The Karachi Stock Exchange (KSE) benchmark was bullish and crossed the highest level of 17,000 points. Volumes increased by 33.5 percent on week-on-week basis to 200 million shares against 150 million shares last week. The reduction in political noise over the preceding week, and result season in full swing can be considered as one of the major reasons behind the current momentum. KSE – 100 index closed at 17,056.36 points by gaining 454.59 points or 2.74 percent, while KSE – 30 index has reached on 13,931.66 by gaining of 389.46 points or 2.88 percent. Analyst said result-based rally would keep dominating the market as major companies will be announcing their December results next week.
Fresh inflows in exploration and production stocks pushed the 100-share index to another historic high. The heavyweight E&P stocks led the bullish run and were well supported by cement and textile sectors during the week. Investors hopes for policy rate cut in policy announcement due next month, rising local cement prices, easing political uncertainty and renewed foreign interest played a catalyst role in the bullish close in stocks across-the-board.
Following news have played vital role in Karachi Stock Market index movement:
The result season has kicked‐off with FFC disclosed its result which was inline the street estimates followed by EFOOD results depicting a growth of 1.8x, hence the stock trade at an exceptional price earnings multiple of 30x
Top ten volume leaders were: FCCL, JSCL, PTC, TRG, ENGRO, NBP, DGKC, LPCL, KESC, and EFOODS.
Thank you very much for reading this article.
Stock Market Karachi Biography
The Karachi Stock Exchange (KSE) benchmark was bullish and crossed the highest level of 17,000 points. Volumes increased by 33.5 percent on week-on-week basis to 200 million shares against 150 million shares last week. The reduction in political noise over the preceding week, and result season in full swing can be considered as one of the major reasons behind the current momentum. KSE – 100 index closed at 17,056.36 points by gaining 454.59 points or 2.74 percent, while KSE – 30 index has reached on 13,931.66 by gaining of 389.46 points or 2.88 percent. Analyst said result-based rally would keep dominating the market as major companies will be announcing their December results next week.
Fresh inflows in exploration and production stocks pushed the 100-share index to another historic high. The heavyweight E&P stocks led the bullish run and were well supported by cement and textile sectors during the week. Investors hopes for policy rate cut in policy announcement due next month, rising local cement prices, easing political uncertainty and renewed foreign interest played a catalyst role in the bullish close in stocks across-the-board.
Following news have played vital role in Karachi Stock Market index movement:
The result season has kicked‐off with FFC disclosed its result which was inline the street estimates followed by EFOOD results depicting a growth of 1.8x, hence the stock trade at an exceptional price earnings multiple of 30x
- Investors are confident, amid hopes for cut in the discount rate and better results of corporate sector
- Key upcoming results next week include LOTPTA, APL, POL, ACPL, ATRL, LUCK, KOHC and FATIMA
- The upcoming week can be considered as a result heavy week where LUCK along with ATTOCK group will announce its financial results
- Better result with healthy payout anticipated from PTCL which kept the stock in the limelight
- Cement sector continued to perform well where FCCL, DGKC and LPCL were among the top ten volume leaders
- PSMC has increased prices of cars by PKR20,000. Prices of Jimny and APV vehicles were not increased. The new revised prices of Suzuki MehranVX and VXR are PKR595,000 and PKR652,000, while the price of Cultus VXRi is PKR1,005,000
- Engro Corporation has claimed PKR34bn in damages from SNGPL for breach of sovereign contract promising supply of gas to the diversified conglomerate’s fertilizer plant
- IGI and ALICO entered into a share purchase agreement, by virtue of which IGI will acquire the entire sponsors‐institutional holding in Alico
- Textile exports up 8% YoY to US$6.46bn in 1HFY13
- T‐bill Auction yields cut by 2‐9bp
- Foreigners remained net buyers of $1.8 million during the week
- The news flows regarding Secondary Public Offering of Pakistan Petroleum Ltd, settlement of property dispute with Etisalat and issuance of 3G licence stayed the driving factors for the local equities
Top ten volume leaders were: FCCL, JSCL, PTC, TRG, ENGRO, NBP, DGKC, LPCL, KESC, and EFOODS.
Thank you very much for reading this article.
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
Stock Market Karachi
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