The
second day of the week ends with lackluster trading. Market started on positive note and continued the upward
trajectory to touch the intraday Highest level of 43,281 but soon after the
media reports related to Panama case steal the show; next hearing on Nov 30.
Moreover, the investors remained cautious due to textile industry protest on
Dec 6, about low gas price. At close,
the Pakistan Stock Exchange’s benchmark KSE 100-share Index recorded a decrease
of 0.85% or 249.44 points at 42,811.27. Relatively Strong activity witnessed in
the market as turnover settled at 585 million shares as compared to 460 million
shares in the last trading session. Shares of 409 companies were traded; at the
end of the day 142 stocks closed higher, 251 declined, while 16 remained
unchanged. The value of shares traded during the day was at recorded the level
of PKR 10.53 billion increased by 36%.
Volatility
prevailed in capital market; major activity witnessed in Commercial Banks,
Engineering and Inv Banks/ Inv Cos. / Sec Cos. sector. In Banking sector
remained lackluster as State Bank of Pakistan kept its policy rate unchanged at
5.75%. BOP appreciated their value by
5.23%, while MCB, UBL declined their value by 2.96%, 2.33%. In Engineering Sector,
ASL, PECO, INIL surge their value by 6.92%, 2.64%, 2.70%. Moreover in Inv
Bank/ Inv Cos. / sector, PASL, IFSL, IGIBL appreciated their value by 2.30%,
4.98%, 4.10%.Moving further, mixed sentiments were witnessed in the cement
sector. Top gainers of the aforementioned sector were THCC (up 0.61%) and LUCK
(0.80%)E&Ps closed in the red zone as the oil prices retraced losses, on
the back of concerns that the upcoming OPEC meeting may not conclude with an
agreement on output cuts.
Active
list was topped by BOP with 60 million shares as it closed at PKR 19.52 with a
positive change of PKR 0.97.ASL was the second highest on the volume chart with
41 million shares closed at PKR 14.83 with a positive change of PKR 0.96. It
was followed by SSGC with 29 million shares closed at PKR 39.57 with a negative
change of PKR 2.07, PACE with 27 million shares closed at PKR 12.87 with a positive
change of PKR 0.42.
Today
major trading activities were recorded in Commercial Banks Sector as it was traded
above 92 million shares followed by Engineering sector which recorded the
volume of 51 million shares whereas Inv Bank/Inv Cos. /Sec. Cos sparked at 3rd
place by trading above 49 million shares.
Highest
increase was recorded in the shares of Philip Morris Pak, which rose by PKR
92.71 to PKR 2111.11 per share; followed by Siemens Pak, that improved by PKR
44.30 to PKR 1200.00 per share. Major decline was witnessed in the shares of
Wyeth Pak Ltd, which fell by PKR 154.20 to PKR 4331.63 per share; followed by
Sanofi-Aventis, dropped by PKR 84.90 to PKR 2054.23 per share.
Factors
for Today:
·
Textile industry protest on Dec 6
·
Dollar crosses Rs108 in open market
·
Trans-Asia likely to set up 100,000bpd
refinery
·
ADB okays $100m loan for Sindh
·
PTCL offers separation scheme to half
of its workforce
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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