Market watch: KSE-100 breaks losing streak, ends 119.49 points higher
Foreign net buyers of Rs91m as index increases 0.26% to close at 45,801.73
Foreign net buyers of Rs91m as index increases 0.26% to close at 45,801.73 PHOTO: AFP
KARACHI:
The KSE-100 broke its three-session losing streak to end positive as cement stocks garnered investor attention, helping the index inch closer to the 46,000-point mark.
After a negative start to the day, attractive valuations became the reason for cherry-picking with institutional flow guiding market direction in the green.
At close, the benchmark KSE-100 Index recorded an increase of 119.49 points or 0.26% to settle at 45,801.73.
JS Research analyst Danish Ladhani said equities closed positive with the KSE-100 trading in a range of 400 points.
Market watch: KSE-100 loses 390 points as OGDC selling takes centre stage
“The market kicked off negative as pressure remained on major banking and oil stocks,” said Ladhani. “However, the index was supported by a rally in major cement scrips in the latter part of the trading session.
“Major heavyweights namely, HBL (-1.05%), OGDC (-1.37%), UBL (-0.94%), ENGRO (-0.10%), MCB (-0.27%), POL (-0.29%), HUBC (-0.39%) and FFC (-0.08%) cumulatively contributed -100 points.
“Moreover, traded volumes remained almost flat, increasing by 2% only to 147 million shares, while the value traded increased to $65 million.”
Top volume stocks were EPCL (+2.71%), UNITY (-0.64%), LOTCHEM (+1.47%) and FCCL (+2.72%). In the E&Ps, OGDC (-1.37%) closed in the red zone after OGDC's block placement on Monday.
Stocks undergo correction as KSE-100 ends 1.21% lower
Topline Securities, in its comments, said equities turned positive due to investors’ excitement over upcoming results.
“Engro Polymer and Lotchem are likely to post healthy growth owing to uptick in their margins.”
Overall, trading volumes increased to 147.5 million shares compared with Monday’s tally of 144.9 million.
Shares of 365 companies were traded. At the end of the day, 187 stocks closed higher, 157 declined while 21 remained unchanged. The value of shares traded during the day was Rs7.6 billion.
Market watch: Buying spree continues, as KSE-100 rises for sixth successive session
Engro Polymer & Chemicals was the volume leader with 12.9 million shares, gaining Rs1.04 to close at Rs39.41. It was followed by Unity Foods with 10.6 million shares, losing Rs0.18 to close at Rs27.83 and Lotte Chemical Pakistan with 8.5 million shares, gaining Rs0.16 to close at Rs11.07.
Foreign institutional investors were net buyers of Rs91 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.
The KSE-100 broke its three-session losing streak to end positive as cement stocks garnered investor attention, helping the index inch closer to the 46,000-point mark.
After a negative start to the day, attractive valuations became the reason for cherry-picking with institutional flow guiding market direction in the green.
At close, the benchmark KSE-100 Index recorded an increase of 119.49 points or 0.26% to settle at 45,801.73.
JS Research analyst Danish Ladhani said equities closed positive with the KSE-100 trading in a range of 400 points.
Market watch: KSE-100 loses 390 points as OGDC selling takes centre stage
“The market kicked off negative as pressure remained on major banking and oil stocks,” said Ladhani. “However, the index was supported by a rally in major cement scrips in the latter part of the trading session.
“Major heavyweights namely, HBL (-1.05%), OGDC (-1.37%), UBL (-0.94%), ENGRO (-0.10%), MCB (-0.27%), POL (-0.29%), HUBC (-0.39%) and FFC (-0.08%) cumulatively contributed -100 points.
“Moreover, traded volumes remained almost flat, increasing by 2% only to 147 million shares, while the value traded increased to $65 million.”
Top volume stocks were EPCL (+2.71%), UNITY (-0.64%), LOTCHEM (+1.47%) and FCCL (+2.72%). In the E&Ps, OGDC (-1.37%) closed in the red zone after OGDC's block placement on Monday.
Stocks undergo correction as KSE-100 ends 1.21% lower
Topline Securities, in its comments, said equities turned positive due to investors’ excitement over upcoming results.
“Engro Polymer and Lotchem are likely to post healthy growth owing to uptick in their margins.”
Overall, trading volumes increased to 147.5 million shares compared with Monday’s tally of 144.9 million.
Shares of 365 companies were traded. At the end of the day, 187 stocks closed higher, 157 declined while 21 remained unchanged. The value of shares traded during the day was Rs7.6 billion.
Market watch: Buying spree continues, as KSE-100 rises for sixth successive session
Engro Polymer & Chemicals was the volume leader with 12.9 million shares, gaining Rs1.04 to close at Rs39.41. It was followed by Unity Foods with 10.6 million shares, losing Rs0.18 to close at Rs27.83 and Lotte Chemical Pakistan with 8.5 million shares, gaining Rs0.16 to close at Rs11.07.
Foreign institutional investors were net buyers of Rs91 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.