Wednesday 26 October 2016

SUNRISE CAPITAL (PVT) LTD | 26 OCTOBER 2016 | LANDING

Stocks fell for the fourth day in a row, which market participants attributed to a `correction` following political noises. KSE-100 index plunged 237.95 points or 0.58 % and wrapped up the session at 40,526.81 levels; as investors squaring their positions in October future contracts, this being the future rollover week. The Favorable judgment from Supreme Court on GIDC Issue and result session can’t grasp the early hours bulls to hold throughout the day. Dull activity witnessed in the market as turnover settled at 347 million shares as compared to 367 million shares in the last trading session. Shares of 409 companies were traded, at the end of the day 156 stocks closed higher, 236 declined, while 17 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 10.29 billion increased by 30%.

Volatility prevailed in capital market; major activity witnessed in Power Generation & Distribution, Commercial Banks and Engineering sector. In Power Generation sector, KEL remain the shining star throughout the session and appreciated their value by 0.11%, while HUBC, JPGL drop their value by 2.68%, 3.15%. In Banking Sector, BOP HBL, NIB depreciated by 2.15%, 1.67%, 2.00%.Moreover in Engineering sector DSLR, PECO, MUGHAL drop their value and depreciated by 2.27%, 5.00%, 3.55%.

Active list was topped by KEL with 59 million shares as it closed at PKR 9.20 with a positive change of PKR 0.05. BOP was the second highest on the volume chart with 40 million shares closed at PKR 17.26 with a negative change of PKR 0.55. It was followed by DSLR with 27 million shares closed at PKR 3.45 with a negative change of PKR 0.15, EFERT with 14 million shares closed at PKR 63.75 with a positive change of PKR 0.34.

Today major trading activities were recorded in Power Generation & Distribution Sector as it was traded above 69 million shares followed by Commercial Banks sector which recorded the volume of 53 million shares whereas Engineering sparked at 3rd place by trading above 34 million shares.

Highest increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 134.97 to PKR 2834.55 per share; followed by Bata (Pak), that improved by PKR 120.53 to PKR 4300.00 per share. Major decline was witnessed in the shares of Philip Morris Pak, which fell by PKR 67.59 to PKR 1924.00 per share; followed by Hinopak Pak, dropped by PKR 48.74 to PKR 1365.70 per share.

·        The Hub Power Company  Limited announced its 1QFY17 result for the period ended Sep 30 2016.PAT clocked in @ PKR 2.65 billion translating into EPS of PKR  2.13.Along with Cash Dividend of PKR 1.50/-
·        Fauji Fertilizer Company Limited announced its 9MCY16 result for the period ended Sep 30 2016.PAT clocked in @ PKR 7.30 billion translating into EPS of PKR 5.74.Along with Cash Dividend of PKR 1.75.
·        MCB Bank Limited announced its 9MCY16 result for the period ended Sep 30 2016.PAT clocked in @ PKR 17.89 billion translating into EPS of PKR 16.01.Along with Cash Dividend of PKR 4.00.
·        Pioneer Cement  Limited announced its 1QFY17 result for the period ended Sep 30 2016.PAT clocked in @ PKR 702 million translating into EPS of PKR 3.09.


Factors for Today:

·        Oil Prices Plunge After API Reports Significant Build To U.S. Crude Stocks
·        ADB offers to increase assistance to help Pakistan become trading hub
·        Govt set to abandon gas supply plan
·        Ogra may recommend hike in POL products' prices
·        Ministry to discuss issues related with planned KE resale

Factors to watch:

·        International Oil prices.
·        PKR vs US$ movement.
·        Results Seasons.






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