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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