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
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