Bulls continued to run at the stock
market which forces the KSE-100 index touch by 46,661.74 levels in early trade.
However, Profit-taking set in later due to Govt. takes back 33pc cut in gas
prices for industry that’s makes the cement, Textile & Fertilizer sector in
negative pool. Despite the negative lead from regional equity markets following
rate hike decision by US Federal Reserves and lower global crude led to
volatility in regional market as well as on local front. Further market
maintained its positive run helped by strong local liquidity in blue chip names
that pushed benchmark KSE-100 index above the 46,500 levels. At close, the
PSX’s benchmark KSE 100-share Index finished with a rise of 0.49% or 226.18
points to finish at 46,584.53 levels. Relatively Strong activity witnessed
in the market as turnover settled at 346 million shares as compared to 340
million shares in the last trading session. Shares of 391 companies were traded;
at the end of the day 189 stocks closed higher, 181 declined, while 21 remained
unchanged. The value of shares traded during the day was at recorded the level
of PKR 15.95 billion increased by 3%.
Volatility
Prevailed in capital market; major activity witnessed in Commercial Banks, Transport
and Cement sector. In Commercial Banks sector, Anticipation of hike in interest
rates, investors took fresh positions in the banking stocks where BOP UBL FABL
(+3.78%), (+1.18%), (+2.18).In Transport Sector, PIBTL PNSC improve their value
by (+4.99%), (+1.56%) while, PNSC with no change. Moreover in Cement Sector,
Related news KOHC Participating in the bidding process for the purchase of
north cement plant from Dewan Cement limited. KOHC (+2.97%) POWER (+7.96%)
while LUCK drop their value by (-1.34%).
Active
list was topped by PIBTL with 28 million shares as it closed at PKR 37.36 with
a positive change of PKR 1.78. BOP was the second highest on the volume chart
with 19 million shares closed at PKR 17.45 with a positive change of PKR 0.64.
It was followed by POWER with 18 million shares closed at PKR 13.49 with a
positive change of PKR 1.00, EPCL with 17 million shares closed at PKR 15.97
with a negative change of PKR 0.13.
Today
major trading activities were recorded in Commercial Banks Sector as it was traded
above 59 million shares followed by Transport sector which recorded the volume
of 36 million shares whereas Cement sparked at 3rd place by trading above 35
million shares.
Highest
increase was recorded in the shares of Sanofi-Aventis, which rose by PKR 109.77
to PKR 2305.35 per share; followed by Colgate Palmolive, that improved by
PKR 82.10 to PKR 1752.17 per share. Major decline was witnessed in the shares
of Unilever Foods, which fell by PKR 240.00 to PKR 5610.00 per share; followed
by Pak Tobacco, dropped by PKR 37.32 to PKR 1091.01 per share.
Factors for Today:
·
Govt takes back 33pc cut in gas prices
for industry
·
Process for sale of 40pc PSX stake
begins
·
FDI in Pakistan down massive 45% in
Jul-Nov
·
Suzuki Motors to invest $460m for new production
plant
·
Oil prices edge up as Kuwait cuts
supplies by more than expected
Factors to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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