Business

Pharma companies stock decline

Pharma companies stock decline

Karachi: Listed Pharma companies in Pakistan witness a decline in their stock prices. Market experts say the shrink has been a result of the political instability in Pakistan. Otsuka Pakistan and Sanofi Aventis Pakistan Limited remained the only companies trading in profit out of 9 listed companies.

The recent protests by the Pakistan Tehreek-e-Insaaf and Pakistan Awami Tehrik’s has resulted in bearish market reaction. The market also effected the Pharma and Biotech sector in the KSE-100 index. The total index in Karachi traded just shy of 302 million rupees, which was 53% below average this week. Market experts say that the investor is preferring to stay on the sideline waiting for clarity on the political front as the protest in Islamabad continues.

The pharma and biotech sector saw a total trade of 661,250 shares on Friday the 22nd, which was 50% lesser then the week ending on 15th August 2014. Market analysts say that the market may recover the week starts as PTI has hinted progress on talks with the government which seems to be a positive sign despite the demand for resignation from the Prime Minister continues.

August 23, 2014

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