SUNRISE CAPITAL (PVT) LTD | 07 November 2016 | LANDING

The benchmark KSE-100 index had been trending higher on its daily frame as PSX cross 42,000 levels. The market finished positive on the first day of the week however, the investor’s mood brightened when the Supreme Court adjourned the case till Nov 15. Despite the US election on Nov 8; the index touches all time high ever 42,204.53pts. Bull were feeling active to take the index to reached at 42,133.54 levels with a surge of 291.98pts or 0.70%. Dull activity witnessed in the market as turnover settled at 333 million shares as compared to 451 million shares in the last trading session. Shares of 401 companies were traded, at the end of the day 285 stocks closed higher, 103 declined, while 13 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 10.68 billion increased by 1%.

Bulls remain active in capital market; major activity witnessed in, Commercial Banks, Technology and Textile Composite sector. In Commercial Banks sector, BOP, MCB, UBL remain the Shining star throughout the session and appreciated their value by 5.46%, 1.53%, 1.37%. In Technology Sector, TRG, WTL appreciated their value by 4.10%, 1.13%, while TELE drop their value by 0.42%.Moreover in  Textile Composite sector ANL, SFL, FASM improve their value and appreciated their value by 8.14%, 2.64%, 2.51%.

Active list was topped by BOP with 48 million shares as it closed at PKR 19.33 with a positive change of PKR 1.00.TRG was the second highest on the volume chart with 26 million shares closed at PKR 44.39 with a positive change of PKR 1.75. It was followed by ANL with 11 million shares closed at PKR 8.24 with a positive change of PKR 0.62, PACE with 10 million shares closed at PKR 10.66 with a positive change of PKR 0.23.

Today major trading activities were recorded in Commercial Banks Sector as it was traded above 84 million shares followed by Technology & Communication sector which recorded the volume of 38 million shares whereas Textile Composite sparked at 3rd place by trading above 22 million shares.

Highest increase was recorded in the shares of Sanofi-Aventis, which rose by PKR 79.87 to PKR 1677.37 per share; followed by Unilever Foods, that improved by PKR 60.00 to PKR 5760.00 per share. Major decline was witnessed in the shares of Nestle Pakistan, which fell by PKR 69.67 to PKR 8300.00 per share; followed by Wyeth Pak Ltd, dropped by PKR 49.92 to PKR 3593.04 per share.

Factors for Today:

·       Oil prices bounce back after week of sharp falls

·       PSO unveils premium quality petrol

·       Debt securities: SECP approves draft trustee regulations

·       SC resumes Panama Leaks case hearing today

·       No subsidy: export of urea fertilizer may be allowed

Factors to watch:

·        International Oil prices.

·        PKR vs US$ movement.

·        Results Seasons.