Wednesday 7 December 2016

SUNRISE CAPITAL (PVT) LTD | 7 December 2016 | LANDING

The KSE-100 index continued to rally for the third consecutive day of the week. Market continued from where it left the previous day gains and touches the new high level of 44,500 points for the first time in history, covering new ground as it ended another session in the positive. Moreover another hearing of panama case hearing passed by without any major controversy this boosted the overall morale of investors and market as whole. Further, equities gained on excitement over reported buying by foreign investors in select sectors. At close, the Pakistan Stock Exchange’s benchmark KSE 100-share Index, recorded a gains of 0.67% or 295.59 points to stand at 44,494.99 levels. Relatively Strong activity witnessed in the market as turnover settled at 470 million shares as compared to 372 million shares in the last trading session. Shares of 399 companies were traded; at the end of the day 157 stocks closed higher, 223 declined, while 19 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 16.03 billion increased by 0%.

Bulls remain active in capital market; major activity witnessed in Commercial Banks, Power Generation & Distribution and Cement sector. In Banking sector, BOP, NIB remain in the red zone throughout the session and depreciated their value by 5.33%, 5.43%, while MCB appreciated by 2.25%.In Power Generation Sector, Shanghai Electric Power (SEP) of China offered $9 billion investment for the system upgrade of K-Electric. KEL gain by 0.11%, NPL gain by 5.00%, HUBC gain by 0.93%. Moreover In “Cement sector led the gains on the back of strong cement dispatch numbers released by APCMA which indicated 11% YoY growth in Nov-2016.” FCCL (+0.92%), LUCK (+4.00%), DGKC (+1.90%).

Active list was topped by BOP with 79 million shares as it closed at PKR 17.76 with a negative change of PKR 1.00.KEL was the second highest on the volume chart with 43 million shares closed at PKR 9.42 with a positive change of PKR 0.01. It was followed by ASL with 19 million shares closed at PKR 14.67 with a positive change of PKR 0.32, NIB with 18 million shares closed at PKR 2.09 with negative change of PKR 0.12.

Today major trading activities were recorded in Commercial Banks Sector as it was traded above 132 million shares followed by Power Generation & Distribution sector which recorded the volume of 51 million shares whereas Cement sparked at 3rd place by trading above 45 million shares.

Highest increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 227.60 to PKR 4793.00 per share; followed by  Sanofi-Aventis, that improved by PKR 105.00 to PKR 2205.00 per share. Major decline was witnessed in the shares of Rafhan Maize, which fell by PKR 78.45 to PKR 8000.00 per share; followed by Service Ind. Ltd, dropped by PKR 56.46 to PKR 1576.12 per share.


Factors for Today:

·        Oil drops on doubts output cut will be deep enough to end glut
·        Shanghai Electric to invest $9bn in KE
·        ‘Italy aware of investment scope in Pakistan’
·        Indus Motor launches new Fortuner, Hilux Revo
·        ADB offers easy loans to Pakistan Railways


Factors to watch:

·        International Oil prices.
·        PKR vs US$ movement.
·        Panama Leak Case

No comments:

Post a Comment