Monday 31 October 2016

SUNRISE CAPITAL (PVT) LTD | 31 OCTOBER 2016 | LANDING

Reported news on K-Electric front Shanghai Electric, to buy 66.4% shares of Abraj Group for US $ 1.77 billion, helped the PSX to opened on positive note. At one time market touch the intra-day high of 40173.83pts. However, Last hours selling pressure in key stocks resist the index to close above the 40,000 levels. The Pakistan Stock Exchange’s benchmark KSE 100-share Index finished with a positive change of 0.05% or 20.96 points to end at 39,893.84 level. Dull activity witnessed in the market as turnover settled at 237 million shares as compared to 328 million shares in the last trading session. Shares of 389 companies were traded, at the end of the day 215 stocks closed higher, 152 declined, while 22 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 5.63 billion decreased by 27%.

Volatility prevailed in capital market; major activity witnessed in, Power Generation & Distribution, Commercial Banks and Oil & Gas Marketing  sector. In Power Generation sector, KEL, JPGL remain shining star throughout the session and appreciated their value by 0.23%, 2.53%, while SEL drop their value by 5.00%. In Banking Sector, BOP depreciated by 0.83%, while HBL, SILK appreciated their value by 1.19%, 6.71%.Moreover in Oil & Gas  sector SSGC, SHEL, SNGP appreciated their value by 1.44%, 1.82%, 1.99%.

Active list was topped by KEL with 40 million shares as it closed at PKR 9.33 with a positive change of PKR 0.22.BOP was the second highest on the volume chart with 25 million shares closed at PKR 15.61 with a negative change of PKR 0.12. It was followed by SSGC with 12 million shares closed at PKR 38.71 with a positive change of PKR 0.64, TPL with 11 million shares closed at PKR 13.81 with a positive change of PKR 0.24.

Today major trading activities were recorded in Power Generation & Distribution Sector as it was traded above 46 million shares followed by Commercial Banks sector which recorded the volume of 35 million shares whereas Oil & Gas Marketing Companies sparked at 3rd place by trading above 23 million shares.

Highest increase was recorded in the shares of Philip Morris Pak, which rose by PKR 83.36 to PKR 2033.36 per share; followed by Sanofi-Aventis, that improved by PKR 83.08 to PKR 1744.78 per share. Major decline was witnessed in the shares of Nestle Pakistan, which fell by PKR 225.00 to PKR 8100.00 per share; followed by Murree Brewery, dropped by PKR 55.55 to PKR 1055.49 per share.




Factors for Today:


·       Oil falls as non-OPEC yet to pledge concrete output steps
·       China's Shanghai Electric to buy $1.77bn stake in K-Electric
·       Bank Alfalah, Karandaaz ink agreements to digitise financial services
·       PTCL and Netflix sign collaboration agreement
·       Bank borrowing falls

Factors to watch:

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
















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