Market at new high record at 44,000 levels as
crude prices increase sharply. Positive closing on last trading session helped
market kept to carry on its bullish reaction. Boom in crude oil prices kept
local oil scripts in limelight and make it easier for market to touch yet
another new high of 44,236.89 Points. Higher sales figures of cement in
November & Fertilizer script attract investor interests to make the index
all time high. Moreover, equities gained on excitement over reported buying by
foreign investors in select sectors before a further push came mid-day in the
index-heavy Oil and Cement stocks. At close, the Pakistan Stock Exchange’s
benchmark KSE 100-share Index, recorded a gains of 1.05% or 459.43 points to
stand at 44,199.40 levels. Relatively Strong activity witnessed in the market
as turnover settled at 372 million shares as compared to 345 million shares in
the last trading session. Shares of 407 companies were traded; at the end of
the day 214 stocks closed higher, 179 declined, while 14 remained unchanged.
The value of shares traded during the day was at recorded the level of PKR
15.97 billion increased by 53%.
Bulls remain active in capital market; major
activity witnessed in Commercial Banks, Cement, and Technology &
Communication sector. In Banking sector Stocks opened higher carrying momentum
and index heavy financials led early gains on reported foreigners interest
namely in United Bank (FABL, +3.64%) and MCB Bank (MCB, +1.56%), Askari Bank
(AKBL, 0.04%). Cements and fertilizers also edged up and supported the ride
with former over high utilization recorded off-take for the outgoing month,
FCCL, ACPL, BWCL surge by (4.98%), (4.97%), (4.94%). While, fertilizer sector
also continued its positive momentum on the back of surge in international urea
prices as well as on the ECC’s decision to cut gas prices by Rs200/mmbtu for
industrial consumers, which is also applicable on gas fuel for fertilizer
industry. ENGRO, EFERT, FFC up by (1.48%), (1.14%),(1.32%). In Technology
Sector, WTL, TELE gain by 1.28%, 2.75% while TRG, with no change. Moreover the
real action came from Oil & Gas Marketing that tracked global crude with
Sui Northern Gas (SNGP,+4.91%), Sui Southern Gas (SSGC,+3.81%) and Shell
Pakistan (SHEL,+0.56%).
Active list was topped by KEL with 22 million
shares as it closed at PKR 9.41 with a positive change of PKR 0.18.FCCL was the
second highest on the volume chart with 17 million shares closed at PKR 41.10
with a positive change of PKR 1.95. It was followed by FABL with 16 million shares
closed at PKR 20.80 with a positive change of PKR 0.73, ASL with 15 million
shares closed at PKR 14.35 with positive change of PKR 0.03.
Today major trading activities were recorded
in Commercial Banks Sector as it was traded above 59 million shares followed by
Cement sector which recorded the volume of 57 million shares whereas Technology
& Communication sparked at 3rd place by trading above 30 million shares.
Highest increase was recorded in the shares
of Rafhan Maize, which rose by PKR 288.45 to PKR 8078.45 per share; followed
by Wyeth Pak Ltd, that improved by PKR 217.40 to PKR 4565.40 per share.
Major decline was witnessed in the shares of Unilever Foods, which fell by PKR
100.00 to PKR 5600.00 per share; followed by Khyber Tobacco, dropped by PKR
58.70 to PKR 1115.30 per share.
Factors
for Today:
·
Cement
sales grow 11% in November
·
Oil
hits 16-month high at $55 a barrel
·
Shanghai
Electric gets CCP's approval to acquire K-Electric
·
Textile
bodies put off black day protest plan
·
Pak-Italy
JEC agrees on greater trade exchanges
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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