SUNRISE CAPITAL (PVT) LTD | 03 January 2017 | LANDING

Venturing deep into the unknown, the KSE-100 index extended its gains for the seventh consecutive session amid expanding market participation and clocked in fresh all time intraday high of 48,924.08 levels. Oil marketing players attracted attention as General Sales Tax (GST) on kerosene oil and light speed diesel has been waived for the first time ever. Fertilizers also provided early support as they came in limelight over positive news of confirmation of reduction in gas prices. Steel makers appreciating as investors bought on infrastructure story.   At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a rise of 1.22% or 587.27 points, to close on a historic high at 48,827.55 levels.

Relatively Strong activity witnessed in the market as turnover settled at 501 million shares as compared to 376 million shares in the last trading session. Shares of 410 companies were traded; at the end of the day 197 stocks closed higher, 191 declined, while 22 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 20.52 billion increased by 47%.

Volatility prevailed in capital market; major activity witnessed in Engineering, Cement and Commercial Banks sector. In Engineering sector, DSL led the volumes chart with collective contribution of 61m shares. up by 1.30, KSBP touch their upper circuit 4.60% & PECO up by 2.52%.In Cement Sector, garnered investor interest on the back of increased dispatch numbers for December 2016 due to be released this week. FCCL, POWER, LUCK surge by 4.99%, 3.95%, 2.22%. Moreover in Commercial Banks Sector led the gains in the market despite decline in MoM CPI number, as it clocked in at 3.7% for the month of Dec 2016. BOP down by 2.33%, while UBL & JSBL rose by 2.42%, 2.03%.In addition Fertilizer stocks, the laggards of 2016, began on a positive note with EFERT rose 4.99%, FFBL & FFC 2.73%, 3.02%.

Active list was topped by DSL with 61 million shares as it closed at PKR 13.29 with a positive change of PKR 0.17. KEL was the second highest on the volume chart with 28 million shares closed at PKR 9.52 with no change. It was followed by EPCL with 21 million shares closed at PKR 18.99 with a positive change of PKR 0.53, ASL with 19 million shares closed at PKR 16.58 with a negative change of PKR 0.15.

Today major trading activities were recorded in Engineering Sector as it was traded above 89 million shares followed by Cement sector which recorded the volume of 50 million shares whereas Commercial Banks sparked at 3rd place by trading above 45 million shares.

Highest increase was recorded in the shares of Unilever Foods, which rose by PKR 6000.00 to PKR 150.00 per share; followed by Rafhan Maize, that improved by PKR 90.01 to PKR 8590.00 per share. Major decline was witnessed in the shares of Sanofi-Aventis, which fell by PKR 71.03 to PKR 2888.68 per share; followed by Colgate Palmolive, dropped by PKR 50.00 to PKR 1750.00 per share.

Factors for Today:

·        Oil prices rise as markets eye OPEC, non-OPEC production cuts

·        Inflation eases to 3.70pc in December

·        Pakistan urged to boost trade with France

·        German, US firms in race to win converter station contract of CASA project

·        Govt waives GST on kerosene, light speed diesel

Factors to watch:

·        International Oil prices.

·        PKR vs. US$ movement.

·        Result Season.