Pakistan
equities extended losses as profit-taking continued in the wider market,
dragging the index down for the third successive day. Volatility prevailed in
the market as the index traded between an intraday high of 46826.71 points and
intraday low of - 46443.22 points. Stocks closed bearish amid institutional
profit-taking on concerns for dull data on the current account deficit and
foreign outflows. Further decline in International crude oil prices led to
decline in local oil scrip. Moreover, the Pakistan Stock Exchange took another
major step forward as a consortium comprising of three Chinese Exchanges
together with two Local Financial Institutions won the bid for the 40%
strategic stake of Pakistan Stock Exchange (PSX). At close, the Pakistan Stock
Exchange’s (PSX) benchmark KSE 100-share Index finished with a fall of 0.14% or
65.79 points at 46,633.99 levels. Relatively Dull
activity witnessed in the market as turnover settled at 229 million shares as
compared to 270 million shares in the last trading session. Shares of 380
companies were traded; at the end of the day 192 stocks closed higher, 163
declined, while 25 remained unchanged. The value of shares traded during the
day was at recorded the level of PKR 7.74 billion decreased by 24%.
Volatility prevailed in capital market; major
activity witnessed in Transport, Commercial Banks and Chemical sector. In Transport
sector, PIBTL remain in the red and declined their value by 4.66%, while, PICT
PIAA improve their value by 1.63%, 0.34%. In Commercial Bank Sector, BOP, UBL,
MCB down their value by 0.89%, 2.21%, 1.67%.Moreover in Chemical Sector,
According to notice issued by PSX, EPCL increase its annual PVC production
capacity & with an estimated capex of US $9 million, make the script in
positive and up by 3.82%, ARPL appreciated by 2.06% while, WAHN drop by 4.76%.
Active list was topped by PIBTL with 37 million
shares as it closed at PKR 33.54 with a negative change of PKR 1.69. EPCL was
the second highest on the volume chart with 26 million shares closed at PKR
18.19 with a positive change of PKR 0.46. It was followed by DSL with 12 million
shares closed at PKR 10.43 with a negative change of PKR 0.38, BOP with 9
million shares closed at PKR 16.77 with a negative change of PKR 0.17.
Today major trading activities were recorded
in Transport Sector as it was traded above 40 million shares followed by Commercial
Banks sector which recorded the volume of 31 million shares whereas Chemical sparked
at 3rd place by trading above 30 million shares.
Highest increase was recorded in the shares
of Rafhan Maize, which rose by PKR 400.00 to PKR 8400.00 per share; followed
by Bata (Pak), that improved by PKR 226.79 to PKR 4781.79 per share. Major
decline was witnessed in the shares of Wyeth Pak Ltd, which fell by PKR 100.90
to PKR 4553.54 per share; followed by Sapphire Textile, dropped by PKR 60.00 to
PKR 1290.00 per share.
Factors
for Today:
·
PSX
Divestment deal finalized at PKR 28/share: Chinese consortium wins bid for 40%
stake
·
Oil
prices fall on profit taking, strong dollar
·
Profit
repatriation surpasses FDI by 28%
·
Mobilink,
Warid merger deal
·
Reserves
dip $163m
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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