Positive
Closure on Previous day helped market to kick starts on bullish, after that
market gone in the volatile mode. Despite news comes out of DCL Board of
Director selling 51% shares of the company to foreign party make the DCL scrip
in the positive momentum. Furthermore SSGC petitions decision dismissed by High
Court make the Scrip in the Lower lock of the ending session of the market.
However, decline in forex reserves, selling from foreigners washed away a major
chunk of positive and led market to close mild green. At close, the (PSX) Benchmark
100- share index rose 0.12% or 49.93 points to end at 42999.66 levels. Relatively
Slow activity witnessed in the market as turnover settled at 504 million shares
as compared to 564 million shares in the last trading session. Shares of 393
companies were traded; at the end of the day 217 stocks closed higher, 164
declined, while 12 remained unchanged. The value of shares traded during the
day was at recorded the level of PKR 9.56 billion decreased by 13%.
Volatility
prevailed in capital market; major activity witnessed in Technology &
Communication, Textile Composite and Textile Spinning sector. In Technology sector
MDTL, WTL were the shining star throughout the session and appreciated their value by
8.00%, 3.20%, while TRG declined their value by 1.19%. In Textile Composite Sector,
ANL, SFL, DLL surge their value by 1.10%, 1.22%, 4.95%. Moreover in Textile
Spinning sector, AMTEX, IDYM, GADT appreciated the most 23.95%, 4.57%, 3.88%.
Active
list was topped by AMTEX with 28 million shares as it closed at PKR 3.83 with a
positive change of PKR 0.74.MDTL was the second highest on the volume chart
with 23 million shares closed at PKR 5.40 with a positive change of PKR 0.40.
It was followed by SSGC with 23 million shares closed at PKR 43.83 with a
negative change of PKR 2.30, BOP with 22 million shares closed at PKR 18.54 with
a negative change of PKR 0.28.
Today
major trading activities were recorded in Technology & Communication Sector
as it was traded above 58 million shares followed by Textile Composite sector
which recorded the volume of 55 million shares whereas Textile Spinning sparked
at 3rd place by trading above 48 million shares.
Highest
increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 66.23
to PKR 4588.77 per share; followed by Service Ind. Ltd, that improved by PKR
61.64 to PKR 1538.99 per share. Major decline was witnessed in the shares of
Rafhan Maize, which fell by PKR 140.00 to PKR 7560.00 per share; followed by
Philip Morris Pak, dropped by PKR 86.35 to PKR 1930.00 per share.
Factors
for Today:
·
DCL; the
B.O.D likely to Sell 51% share of company to Foreign Party
·
PIA arranges
financing facility of $130 million
·
Placement of
funds: SECP puts maximum cap on AMCs
·
Tariff
raised for Matiari-Lahore transmission line
·
Dollar hits
Rs107 on unchecked gold smuggling
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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