Recovery mode continues as KSE-100 climbs points Oil
exploration and banking sectors lead the gains. Stocks continued their winning
streak as the KSE-100 index gained 192.54 points 0.45% to close at
42,631.58. Ferocious bulls took charge of the market right from the start with
the index taking a big leap forward by 309.36 points. Although the market opened
positive and continued to trade in the green zone for the entire session,
investors remained cautious over the uncertainty surrounding the outcome of a
Supreme Court hearing on the Panama Papers leaks case and the skirmishes with
India along the Line of Control; investors were also startled by foreign
selling in emerging markets. In just nine sessions since Nov 9, foreign selling
at the Pakistan Stock Exchange stood at a massive $68.85m. The volume of traded
shares surged by 34% to 467 million shares as compared to 347 million
shares in the previous session, while the value improved 78% to PKR bn.
Bullish trend witnessed in Capital Market; Banks,
Miscellaneous & Transport sector witnessed the most trading. Oils tracked
global crude and closed positive with modest gains; OGDC, POL & PPL raised
by 1.73%, 3.64% and 1.26%. Meanwhile HUBC fetched buying interest to close
higher and contributed most to gains as investors bet on rupee depreciation as
gap between Rs/$ Interbank rate and open market rate further widened, which
bodes well for Independent Power Plants. Textile sector appreciate following
the textile package announcement due in December; NML, NCL, GADT, ANL and CHBL
appreciated by 0.73%, 1.38%, 5%, 5.72% and 7.19% respectively. HASCOL
upward trend continued with touching another upper limit, moreover SNGP, SSGC
and HTL 5%, 3.85% and 2.08%. AGL up by 5.83% disclosed via PSX notice that
Natural Gas connection has been temporarily relapsed. SMBL loss its value by
6.64% following the news of Summit bank and Sindh bank merger.
Active list was topped by PACE with 45 million shares as it
closed at PKR 12.03 with a positive change of PKR 0.92. SMBL was the second
highest on the volume chart with 37 million shares closed at PKR 4.85 with a
negative change of PKR 0.27. It was followed by PIAA with 34 million shares
closed at PKR 12.72 with a positive change of PKR 0.18, BOP with 24 million
shares closed at PKR 18.97 with a positive change of PKR 0.07.
Today major trading activities were recorded in Commercial
Banking Sector as it was traded above 88.4 million shares followed by
Miscellaneous sector which recorded the volume of 47.9 million shares whereas
Transport sector sparked at 3rd place by trading above 37 million shares.
Highest increase was recorded in the shares of Wyeth
Pak, which rose by PKR 215.89 to PKR 4,533.87 per share; followed by Nestle Pak
that improved by PKR 200.00 to PKR 8,500.00 per share. Major decline was
witnessed in the shares of Rafhan Maize, which fell by PKR 47.50 to PKR
7,410.00 per share; followed by Exide Pak, dropped by PKR 34.47to PKR
1,099.82 per share.
Factors for Today:
•
Export-oriented sectors likely to get Rs
75 billion package
•
Summit, Sindh Bank in merger talks
•
Yunus Brothers, Kia Motors to set up auto
assembly plant
Factors to watch:
•
International Oil prices.
•
PKR vs US$ movement.
•
Panama Leak Case.
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