The KSE-100 index opened the week on a very dull note, witnessing a sharp decline in investor participation. Market witnessed an up and down day as reports surfaced regarding an increase in foreign institutional buying throughout the day. Fertilizers were the pick of the lot as Government’s resolve for early approval on fertilizer subsidy prompted the Fertilizer stocks to touch their peaks during the day. Fauji Fertilizers FFC PA +5%, Fauji Fertilizers Bin Qasim FFBL PA +4.9%, Engro Fertlilizers EFERT PA +4.7% all closed higher. However, other major sectors including Financials witnessed limited interest and closed lower barring MCB Bank MCB PA +4.2% that stood strong and weathered the general trend on reported foreign interest following FTSE rebalancing last Friday. In the commodities market, the prices for Oil continue to recover in the international markets as glut slowly yet surely continues to shrink. Gold witnessed a price fall, silver continues to hold as attention shifts towards Fed meeting tomorrow.
In the commodities market, with buoyant demand forecasts from International Energy Agency (IEA), Oil prices are on a path of recovery, crossing the $50 mark. Gathering on the momentum prompted by Hurricanes in US, decline in Shale pumping and output cuts by OPEC and non-OPEC members the oil has been recovering gradually.
In other news, President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and Former Provincial Minister Mian Zahid Hussain lauded the government response to US statements against Pakistan highlighting that trade comes second to National Security and Sovereignty. He extended his full support to the Government and other departments on taking their stand against the US behavior.
In Corporate news, Mughal Steels Ltd. (MUGHAL), Pakistan Paper Products Ltd. (PPP) and Kohat Cement Co. Ltd. (KOHC) announced financial results for the twelve months period ended June, 30 2017.
KOHC reported an increase of 3.42 percent in Net Sales for the period whereas the Profit for the company increased by 20 percent. Whereas, MUGHAL reported an increase of 0.95 percent in Net Sales for the period whereas the Profit for the company increased by 11 percent.
KSE-100 Index at the day gained a total of 54.22 points up by 0.13%, closing at 42841.41 points. Index Volume was 59.05 million shares, value of shares traded was PKR 6.54 billion with index low-high range of 42489.69 – 42924.93.
5 – Gainers of the Day |
||
---|---|---|
Symbol |
Name |
Change |
NESTLE |
Nestle Pakistan |
546.67 |
HINO |
Hinopak Motors Ltd. |
35.25 |
ATBA |
Atlas Battery Ltd. |
23.5 |
ATRL |
Attock Refinery Ltd. |
18.87 |
ICI |
ICI Pakistan |
15.75 |
5 – Losers of the Day |
||
---|---|---|
Symbol |
Name |
Change |
BHAT |
Bhanero Textiles Ltd. |
-42.41 |
MTL |
Millat Tractors Ltd. |
-26.8 |
HINOON |
Hinoon Laboratories Ltd. |
-22.68 |
INDU |
Indus Motors Co. Ltd. |
-20.7 |
MARI |
Mari Petroleum Ltd. |
-17.86 |
Volume Leaders |
||
---|---|---|
Symbol |
Name |
Volume |
DSL |
Dost Steels Ltd. |
10,807,000 |
TRG |
TRG Pakistan |
8,457,500 |
EFERT |
Engro Fertilizer Ltd. |
6,487,500 |
ATRL |
Attock Refinery Ltd. |
4,300,100 |
ASL |
Aisha Steel Ltd. |
4,220,000 |
FFC |
Fauji Fertilizer Co. Ltd. |
4,075,500 |
KOSM |
Kohinoor Spinning Mills Ltd. |
3,653,500 |
WTL |
WorldCall Telecom Ltd. |
3,559,500 |
CWSM |
Chakwal Spinning Mills Ltd. |
3,515,500 |
ANL |
Azgard Nine Ltd. |
3,286,000 |