Pakistan Equities started a day on
optimistic note at 48775.14 levels. Positivity prevailed in the market as the
index traded between intra-day high of 49104.04 pts and an intra- day low at 48713.63
points. Market was positive due to case hearing related to panama gate; case
has been adjourned to 9th January 2016 that’s make the investors to take the
fresh position in the market. Further Investor interest was seen in the market
which played an active role in the optimistic trend of the market. Moreover
cement dispatches for the month of December 1HFY 17 shows a YoY rise of 3% make
the cement sector in the positive circle. Refineries outperformed on surge in
POL sales by over 23pc year-on-year for December, Foreign inflows, upbeat data
on urea off take for December, recovery in WTI crude prices above $53/barrel
& Commercial Banks, cement sectors played a catalyst in the positive close.
At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished
with a surge of 0.67% or 324.60 points, to close at 49,038.23 levels. Relatively Strong activity witnessed in the market as
turnover settled at 430 million shares as compared to 329 million shares in the
last trading session. Shares of 400 companies were traded; at the end of the
day 247 stocks closed higher, 136 declined, while 17 remained unchanged. The
value of shares traded during the day was at recorded the level of PKR 14.40 billion
increased by 9%.
Bulls
remain active in capital market; major activity witnessed in Engineering,
Textile Composite and Commercial Banks sector. In Engineering sector, DSL, ASL,
CSAP surge their value by 7.38%, 5.65%, 2.37%. Investor interest was seen in
Textile Sector, ANL, NCL, BHAT touch their upper circuits 7.95%, 4.85%, 5.00%. Moreover,
Positive sentiments in banking where BOP, FABL, JSBL led to close in green
stood at 3.06%, 3.32%, 3.90%. In Addition, Cement Dispatches for the month of
December 1HFY 17 shows a YoY rise of 3% make the cement sector in the positive , ENGRO ,
EFERT FFC close in green 1.08%, 0.41%, 2.40%. Gains to the upside were
attributable to rally in MARI up by 1.15%, SHEL up by 2.82%, SNGP up by 2.16%.
Active
list was topped by DSL with 51 million shares as it closed at PKR 14.26 with a
positive change of PKR 0.98. ASL was the second highest on the volume chart
with 30 million shares closed at PKR 18.71 with a positive change of PKR 1.00.
It was followed by ANL with 29 million shares closed at PKR 9.23 with a positive
change of PKR 0.68, BOP with 15 million shares closed at PKR 17.87 with a positive
change of PKR 0.53.
Today
major trading activities were recorded in Engineering Sector as it was traded
above 92 million shares followed by Textile Composite sector which recorded the
volume of 62 million shares whereas Commercial Banks sparked at 3rd place by
trading above 47 million shares.
Highest
increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 225.60
to PKR 5124.60 per share; followed by ICI Pakistan, that improved by PKR 49.43
to PKR 1038.13 per share. Major decline was witnessed in the shares of Unilever
Foods, which fell by PKR 270.00 to PKR 5630.00 per share; followed by Bata (Pak),
dropped by PKR 100.00 to PKR 4200.00 per share.
Factors for Today:
·
Cement
production capacity projected to rise by 26m tons
·
Govt
plans 10-paisa per unit surcharge to cover Neelum-Jhelum cost overruns
·
Tarbela-4
extension: Company suspends contract, may go to international court
·
PSO’s
receivables mount to Rs219.4b
·
Foreign
reserves decline by $30m
Factors to watch:
·
International
Oil prices.
·
PKR
vs. US$ movement.
·
Result
Season.
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