SUNRISE CAPITAL (PVT) LTD | 08 November 2016 | LANDING

A largely positive day ended with red as volatile trading and mixed sentiment skewing the session. Stocks tumbled ahead of US Election as the benchmark KSE-100 index spiraled downwards by 19 points, or 0.05%, to close at 42,113.91 levels. The index traded both ways hovering in a band of 403 points and touch the highest ever level of 42,413 but ended in red as investor take a cautious approach. Swift activity witnessed in the market as turnover settled at 480 million shares as compared to 333 million shares in the last trading session. Shares of 409 companies were traded, at the end of the day 175 stocks closed higher, 219 declined, while 15 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 15.74 billion increased by 47%.

Profit-taking witnessed in capital market; major activity witnessed in Commercial Banks, Technology and Cement sector. In Commercial Banks sector, BOP remain the Shining star throughout the session and appreciated their value by 0.98%, while UBL, BAFL drop their value by 1.33%, 0.85%. In Technology Sector, TRG, PAKD appreciated their value by 0.63%, 3.08%, while PTC depreciated their value by 1.29%.Moreover in  Cement sector, Cement sales shoot up 15.88% in October -2016, FCCL, CHCC, improve their value by 4.86%, 2.97%, while LUCK depreciated by 1.10%.

Active list was topped by BOP with 57 million shares as it closed at PKR 19.52 with a positive change of PKR 0.19.KEL was the second highest on the volume chart with 31 million shares closed at PKR 9.29 with a negative change of PKR 0.02. It was followed by PIBTL with 29 million shares closed at PKR 33.00 with a positive change of PKR 1.49, FCCL with 20 million shares closed at PKR 38.18 with a positive change of PKR 1.77.

Today major trading activities were recorded in Commercial Banks Sector as it was traded above 91 million shares followed by Technology & Communication sector which recorded the volume of 58 million shares whereas Cement sparked at 3rd place by trading above 40 million shares.

Highest increase was recorded in the shares of Bata (Pak), which rose by PKR 100.00 to PKR 4200.00 per share; followed by Island Textile, that improved by PKR 67.52 to PKR 1418.08 per share. Major decline was witnessed in the shares of Wyeth Pak Ltd, which fell by PKR 121.68 to PKR 3471.36 per share; followed by Mari Petroleum, dropped by PKR 18.65 to PKR 1025.96 per share.

Factors for Today:

·        OGDCL’s LPG plant to begin processing by June 2017

·       Ecnec approves Rs187bn development projects:

·        Domestic demand: Cement sales shoot up 15.88% in October

·        Panama Papers: parties asked to substantiate claims without further ado

·        Export proceeds: SBP gets $58 million repatriated through judicial proceedings

Factors to watch:

·        International Oil prices.

·        PKR vs US$ movement.

·        Results Seasons.