Monday 9 January 2017

SUNRISE CAPITAL (PVT) LTD | 09 January 2017 | LANDING

Pakistan Stock Exchange (PSX) witnessed a flat session. The benchmark breezed past the 49,000-point barrier to settle at an all-time high of 49439.26 levels. The index maintained its bullish ride, Further PTI lawyer till now fail to prove allegations against Sharif’s Family. Moreover, K-P govt. shuts down Lucky Cement’s Pezu plant in KPK make the scrip in negative zone. At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a surge of 0.00% or 1.18 points, to close at 49,039.41 levels. Relatively Strong activity witnessed in the market as turnover settled at 492 million shares as compared to 430 million shares in the last trading session. Shares of 422 companies were traded; at the end of the day 247 stocks closed higher, 163 declined, while 12 remained unchanged. The value of shares traded during the day was at recorded the level of PKR 13.35 billion decreased by 7%.

Bulls remain active in capital market; major activity witnessed in Commercial Banks, Engineering and Textile Composite sector. In banking sector, BOP, MCB and FABL surge by 1.34%, 1.02% and 4.86%.Respectively, on the back of attractive valuations and robust result expectations. In Engineering Sector, DSL drop their value by 0.77%, while ASL & MUGHAL appreciated the most and up by 0.37%, 5.00%. Moreover, Investor interest was seen in Textile Sector, ANL NCL BTL touch their upper limits and supported the index, up by 6.93%, 2.22% & 5.00%In Addition, Cement sector surged 2% in anticipation of increase in prices in North region by Rs15-20/bag while expectation of healthy off take numbers for December attracted investors’ interest DCL FFC & BWCL surge by 1.41%, 1.11%, 1.12%. While, K-P govt shuts down Lucky Cement’s Pezu plant make the script in red down by 0.54%.

Active list was topped by DSL with 33 million shares as it closed at PKR 14.15 with a negative change of PKR 0.11. ANL was the second highest on the volume chart with 27 million shares closed at PKR 9.87 with a positive change of PKR 0.64. It was followed by BOP with 22 million shares closed at PKR 18.11 with a positive change of PKR 0.24, LOTCHEM with 20 million shares closed at PKR 8.97 with a positive change of PKR 0.23.

Today major trading activities were recorded in Commercial Banks Sector as it was traded above 66 million shares followed by Engineering sector which recorded the volume of 62 million shares whereas Textile Composite sparked at 3rd place by trading above 56 million shares.

Highest increase was recorded in the shares of Wyeth Pak Ltd, which rose by PKR 73.40 to PKR 5198.00 per share; followed by Pak Services, that improved by PKR 41.96 to PKR 881.29 per share. Major decline was witnessed in the shares of Ghandhara Ind., which fell by PKR 21.43 to PKR 806.08 per share; followed by Abbott Lab, dropped by PKR 13.11 to PKR 918.20 per share.


Factors for Today:

·        K-P govt shuts down one of Lucky Cement’s Pezu plant
·        Cement industry posts growth of 11pc in first half of FY17
·        New gas firm to use Sui Southern pipelines
·        Pakistan receives first cargo of better-quality diesel
·        Bank deposits rise

Factors to watch:

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

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