SUNRISE CAPITAL (PVT) LTD | 26 December 2016 | LANDING

Pakistan Stock Exchange (PSX) started a day at optimistic note at 46660.53 points. Equities opened positive but struggled continuously to recover the point loss in previous session makes the benchmark 100- Index to touch intra-day high of 46898.59 points or Intra-day low at 46622.42 points. Moreover, Divestment of Chinese investors in PSX brings development in capital market make the positive sentiments for the market. Further surge in crude oil prices make the investors to divert concentration in local oil scripts. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a rise of 0.12% or 55.74 points at 46,689.73 levels. Relatively Dull activity witnessed in the market as turnover settled at 179 million shares as compared to 229 million shares in the last trading session. Shares of 386 companies were traded; at the end of the day 185 stocks closed higher, 181 declined, while 20 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 6.46 billion decreased by 17%.

Bulls remain active in capital market; major activity witnessed in Technology & Communication, Commercial Banks and Chemical sector. In Technology sector, TRG, AVN remain the positive and up their value by 3.89%, 3.43%, while PAKD drop their value by 1.81%. In Commercial Bank Sector, BOP appreciated their value by 1.97%, while HBL, BAHL down their value by 0.67%, 2.73%. Moreover in Chemical Sector, EPCL drop by 0.38% while ICI, ARPL appreciated by 4.86%, 1.34%.

Active list was topped by TRG with 18 million shares as it closed at PKR 45.51 with a positive change of PKR 1.69. EPCL was the second highest on the volume chart with 13 million shares closed at PKR 18.06 with a negative change of PKR 0.07. It was followed by KEL with 11 million shares closed at PKR 9.20 with a negative change of PKR 0.04, DSL with 9 million shares closed at PKR 10.52 with a positive change of PKR 0.07.

Today major trading activities were recorded in Technology & Communication Sector as it was traded above 23 million shares followed by Commercial Banks sector which recorded the volume of 23 million shares whereas Chemical sparked at 3rd place by trading above 21 million shares.

Highest increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 163.66 to PKR 4717.20 per share; followed by Philip Morris Pak, that improved by PKR 124.66 to PKR 2630.91 per share. Major decline was witnessed in the shares of Bata (Pak), which fell by PKR 81.79 to PKR 4700.00 per share; followed by Sanofi-Aventis, dropped by PKR 60.96 to PKR 2350.00 per share.

Factors for Today:

·        Iranians showing interest in the Pakistan Steel Mills

·        K-E seeks duty concessions on IPP pattern

·        Money Market: Bank borrowings increase

·        Disruption in oil supplies to power plants feared

·        PPL invests Rs25 billion to increase gas production in Sindh

Factors to watch:

·        International Oil prices.

·        PKR vs US$ movement.

·        Panama Leak Case