Pakistan
Equities market carried the Bull Run with Benchmark-100 index closing Thirteen
Consecutive positive session. Despite a news of “Man shot the Russian
Ambassador in front of a shocked gathering at a photo exhibit in Ankara, make
the market participants in pressure but after that market going on a positive
track and index crossed the 47,300-point barrier intraday to hit 47,380.88
points. Moreover, The Netherlands-based dairy company has acquired 51% stake at
Rs120 ($1.14) per share in Engro Foods. Further, the surge in WTI crude prices,
rising banking spreads and speculations ahead of a revised auto policy played
the role of a catalyst for the rising benchmark index. At close, the PSX’s
benchmark KSE 100-share Index finished with a rise of 0.58% or 271.47 points to
finish at 47,210.06 levels. Relatively Strong activity witnessed
in the market as turnover settled at 450 million shares as compared to 344
million shares in the last trading session. Shares of 417 companies were traded;
at the end of the day 164 stocks closed higher, 238 declined, while 15 remained
unchanged. The value of shares traded during the day was at recorded the level
of PKR 16.95 billion increased by 8%.
Volatility prevailed in capital market; major
activity witnessed in Commercial Banks, Engineering and Cement sector. In Commercial
Banks sector, BOP, remain in the red zone and drop their value by (-1.09%)
while, JSBL & HBL contributed the most and appreciated their value by
(+5.92%), (+5.00%).In Engineering Sector, DSL ASL INIL appreciated value by
(+8.54%), (+0.29%), (+2.83%). Moreover in Cement Sector, POWER, depreciated
their value by (-4.75%) while, FCCL & LUCK surge their value by (+0.79%),
(+0.40%). In addition Dutch company FrieslandCampina Pakistan Netherlands-based
dairy company has acquired 51% stake at Rs120 ($1.14) per share in Engro Foods.
It acquired 47.1% (or 361.29 million shares) from Engro Corporation, ENGRO
& EFOODS appreciated by (+1.34%), (0.98%).
Active list was topped by DSL with 58 million
shares as it closed at PKR 11.56 with a positive change of PKR 0.91. BOP was
the second highest on the volume chart with 27 million shares closed at PKR
18.08 with a negative change of PKR 0.20. It was followed by EPCL with 23 million
shares closed at PKR 17.42 with a positive change of PKR 0.78, JSCL with 22
million shares closed at PKR 25.39 with a positive change of PKR 1.16.
Today major trading activities were recorded
in Commercial Banks Sector as it was traded above 93 million shares followed by
Engineering sector which recorded the volume of 81 million shares whereas
Cement sparked at 3rd place by trading above 35 million shares.
Highest increase was recorded in the shares
of Rafhan Maize, which rose by PKR 196.50 to PKR 8197.50 per share; followed
by Wyeth Pak Ltd, that improved by PKR 136.94 to PKR 4790.25 per share.
Major decline was witnessed in the shares of Nestle Pakistan, which fell by PKR
90.00 to PKR 8610.00 per share; followed by Bata (Pak), dropped by PKR 70.00 to
PKR 4630.00 per share.
Factors
for Today:
·
China to set up steel factory in
Gwadar under CPEC
·
Dutch company acquires Engro Foods for
$446.81m
·
Oil steady in timid trade ahead of
holiday season
·
Borrowing for budgetary support
exceeds Rs 1 trillion
·
Aptma lauds Punjab CM’s directives on
uniform gas tariff
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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