Pakistan
Stocks Exchange touch new record high of 45,489 level; PSX continued its
positive momentum as the shares index gained 645.25 points or 1.44% to close at
its new high of 45,387.23 points, its highest finish yet. During the week, the
bench mark shares index rallied 2,116.83 points. Recovery in global crude
prices, foreign inflows and bullish global equities impacted the sentiments.
Reports on rising auto sales, upbeat data on cement sales and higher urea sales
for November 2016 played a catalyst role in record close. Despite increasing
volatility, the 100 index managed to close in green for the 7th consecutive
day, posting a cumulative gain of 2,764.86 points (up 6.5%). This came amid a
relative slowdown in foreign selling (USD 24.7mn) and relentless buying from
Mutual Funds (USD 45mn) and NBFCs (USD 14mn) during the December so far.
Cements, Autos, Banks, OMC and Steel led the index. Relatively Strong activity witnessed in the market as
turnover settled at 407 million shares as compared to 368 million shares in the
last trading session. Shares of 389 companies were traded; at the end of the
day 208 stocks closed higher, 158 declined, while 23 remained unchanged. The
value of shares traded during the day was at recorded the level of PKR 17.33
billion decreased by 58%.
Bulls remain active in capital market; major
activity witnessed in Cement, Commercial Banks and Engineering sector. In
Cement sector, LUCK diversified Investment in auto sector would help Luck to
touch upper limit. (+5.00%), FCCL & DGKC gain their value by (+0.79%),
(+2.95%). In Commercial Banks Sector, BOP HBL & MCB appreciated their value
by (+3.14%), (+3.10%), (+3.10%). Moreover In Engineering Sector, ASL DADX gain
their value by (+3.49%), (+4.84%), while INIL declined their value by (-1.20%).
Active list was topped by ASL with 41 million
shares as it closed at PKR 16.01 with a positive change of PKR 0.76. BOP was
the second highest on the volume chart with 33 million shares closed at PKR 17.72
with a positive change of PKR 0.54. It was followed by FCCL with 18 million
shares closed at PKR 42.10 with a positive change of PKR 0.70, PIBTL with 18
million shares closed at PKR 33.67 with positive change of PKR 1.60.
Today major trading activities were recorded
in Cement Sector as it was traded above 71 million shares followed by Commercial
Banks sector which recorded the volume of 69 million shares whereas Engineering
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 235.55 to PKR 4946.62 per share; followed
by Bata (Pak), that improved by PKR 214.33 to PKR 4543.00 per share. Major
decline was witnessed in the shares of Philip Morris Pak, which fell by PKR
69.95 to PKR 2230.00 per share; followed by Khyber Tobacco, dropped by PKR 60.00
to PKR 1140.00 per share.
Factors
for Today:
·
S.Korea's
Kia to start assembling cars in Pakistan: local partner
·
10.65pc
capital adequacy ratio mandatory for banks
·
Pakistan,
Iran look to revisit gas pipeline agreement
·
Chinese
bourses keen on acquiring PSX stake
·
SECP
issues 54 show-cause notices
Factors
to watch:
·
International
Oil prices.
·
PKR
vs US$ movement.
·
Panama
Leak Case
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