Thursday 31 December 2015
Zafar Stocks KSE 100 Index (PSX) (Zafar Securities Pvt Ltd)
ZSL, Day Wrap
CY15 proved to be a depressing year for Karachi Stock Exchange as the benchmark KSE-100 index posted just 2.2% YoY growth during the year with dull volumes. The benchmark KSE-100 index ended the year at 32,816.31 points. Though market witnessed some good bullish spells during the year mainly on back of; cut in discount rates, upgrade of ratings by international rating agencies, and attractive prices due to which the benchmark index touched an all-time high of 36,229 points. However, gains were wiped off due to multiple factors which include; falling international commodity prices, bearish trend in global capital markets, selling by foreign investors, weak earnings growth, uncertainty on the political front, and issues between brokers and apex regulator.
(2016) A Challenging Year Ahead,
On the positive side in 2016 we might see recovery in oil prices, better corporate results (excluding E&P), possible inclusion in MSCI emerging market and completion of mega projects under CPEC arrangements would be key triggers. Furthermore, Pakistan Stock Exchange will be launched in January, 2016 where three stock exchanges in Pakistan are being integrated into a single national stock exchange.
One more thing before 2015 draws to a close … we at ZSL, would like to wish all its clients/ investors / readers / followers a Happy New Year. May the New Year serve as a catalyst for success, both in our personal lives and for the society at large, and provide us with new reasons to celebrate and be thankful.
Analyst , Muhammad Naeem Akhtar.
Zafar Securities (Pvt) Limited.
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