Thursday 5 January 2017

SUNRISE CAPITAL (PVT) LTD | 05 January 2017 | LANDING

Pakistan Stock Exchange (PSX) continues its positive streak on eight-day but ended on a flat note. Market after seeing positive for past few trading sessions took a breather. Since, market is currently trading at all time high levels so technical correction was seen across the board. Further court hearings on Panama allegations will keep politics in limelight and until a major development proceedings are expected to remain no more than a disturbance. Moreover Case hearings scandal created nervousness in minds of investors who preferred to sell. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a surge of 0.02% or 8.64 points, to close at 48,713.63 levels. Relatively Dull activity witnessed in the market as turnover settled at 329 million shares as compared to 403 million shares in the last trading session. Shares of 400 companies were traded; at the end of the day 195 stocks closed higher, 177 declined, while 28 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 13.19 billion decreased by 19%.

Volatility prevailed in capital market; major activity witnessed in Engineering, Commercial Banks and Cement sector. In Engineering sector, ASL, DSL, INIL surge their value by 3.93%, 2.71%, 1.75%.Mixed sentiments were witnessed in the banking sector as there was a decline in month-on-month CPI number by 0.5% to 3.7% for the month of December 2016.” AKBL up by 0.27%, while BOP, MEBL decline their value by 1.37%, 4.51%.Moreover, Pressure was witnessed in the cement sector as investors await cement dispatch numbers due to be released later this week. DCL drop by 3.48%, BWCL drop 0.93%, FCCL down by 1.24%. In Addition, Interest was seen in fertilizer sector as the sector close positive than its previous day close. FFC, EFERT, ENGRO 1.73%, 1.67%, 0.37%.

Active list was topped by ASL with 24 million shares as it closed at PKR 17.71 with a positive change of PKR 0.67. DSL was the second highest on the volume chart with 21 million shares closed at PKR 13.28 with a positive change of PKR 0.35. It was followed by KEL with 13 million shares closed at PKR 9.29 with a negative change of PKR 0.10, EFERT with 10 million shares closed at PKR 72.92 with a positive change of PKR 1.20.

Today major trading activities were recorded in Engineering Sector as it was traded above 54 million shares followed by Commercial Banks sector which recorded the volume of 36 million shares whereas Cement sparked at 3rd place by trading above 27 million shares.

Highest increase was recorded in the shares of Ghandhara Ind., which rose by PKR 40.04 to PKR 841.00 per share; followed by National Refinery, that improved by PKR 27.90 to PKR 595.42 per share. Major decline was witnessed in the shares of Unilever Foods, which fell by PKR 100.00 to PKR 5900.00 per share; followed by Philip Morris Pak, dropped by PKR 90.00 to PKR 2660.00 per share.


Factors for Today:

·        Iranian, Chinese companies eye steel mill acquisition
·        NRL cuts bank loan support
·        Free Trade Agreement: Pakistan, Malaysia in talks to cut duties further
·        IBRD, AIIB to lend $690m for Dasu Hydropower project
·        Govt may impose new taxes to restrict budget deficit

Factors to watch:

·        International Oil prices.
·        PKR vs. US$ movement.
·        Result Season.

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