Karachi Stock Market performed exceptionally well last week and came very close to 7,500 psychological mark. It reflected the generally positive sentiments in politics of the country and the improving economic situation. Foreign funds in excess of US dollar 1 Billion will soon be coming in to improve further the Federal Reserves of the country. Inflation for once seems under control and the pak rupee currency does not seem to be depreciating any more atleast for now.
Whilst the earning season has ended and eyes are set on the 1Q 2009 earning in a month from now, Dividends and Bonus Shares for a few BIG stocks are coming in to play during the next 7 days. POL and OGDC go SPOT next week followed by NBP over the next weekend.
It appears that KSE 100 Index may lose stream at some point during the next week and once again take a dip of 100 or more points as part of profit taking process for big investors. KSE should open tomorrow on a slightly lower side and should gain momentum in the second half. I see a range of 75 points up and 100 points below Friday's levels. the trading should be within this range as no solid event or news is expected tomorrow. The terrorist attacks over the weekend may have a minor impact on the market.
Top Picks for tomorrow: OGDC, NBP, DGKC, HUBCO and BOP
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