The index managed a 72pt gain in February to close at 31370. Activity during the month was a rough ride with a 2141pt spread between the highest and the lowest close. Till Feb 8 the index rose 1400pts, falling 2100pts in back to back sessions save one, only to scrape an 800pt gain in the last four sessions of the month. Average turnover for the month was 136mln shares while value traded was Rs7.2bln, almost level with last month.
POL, JSCL and SNGP were the major winners among actively traded stocks notching gains of 18, 24 and 12pc.
Losers were SSGC, GHNL, Amreli Steel, Al Shaheer, Nishat Chunian, Indus Motors, PRL, Netsol, PAEL and FEROZ losing between 10-18pc.
Banks gained across the board this month. Fertilizers, IPP's and Refiners lost value. Even the cement sector saw some losses with Cherat and Kohat down by 7pc.
Overall despite the benign index net change for the month, February masked significant decline especially traders favorites like TRG, PAEL, ASTL, PIBTL, MUGHAL.
February also marked the end of the earnings season. Most annoucements were in line with market expectations and perhaps that's why sentiment was subdued.
Outflow during the month was USD 40mln, down from USD50mln during January. Crude oil prices could offer support to the index should they continue the recent uptrend. Progress toward emerging market status could tune down debilitating foreign outflows.
The market closed the day up 76pts at 31370 after making an intra day high of 140pts. Turnover and value traded were stable at 130mln shares and Rs 6.2bln. Investors await cues from foreign flow numbers.
Engro, LUCK, PPL, EFERT, DGKC and EFOOD were the most actively traded stocks by value. ENGRO, LUCK and EFERT rose 2, 3.8 and 4pc respectively. Efert was up on favorable gas allocation from GOP. EFOOD was up 3pc.
Unilever and FEROZ were the top gainers rising 5pc and 4pc respectively.
The market closed up 282pts up almost a percent for the week. Average volumes were 138mln and value traded was Rs6.2bln. Outflow during the week was USD4.8mln. Last week it was USD 13.2mln. Lower outflows helped the market recover it's losses in the beginning of the week. Oil price stability kept the oil sector from losing further ground which added to the support the index found during the latter part of the week. Oil, Fertilizers and refiners rallied this week. Fertilizer recovered from a drubbing last week.
OGDC and POL put in 7pc and 5pc gains this week. Hascol was up 10pc. Fatima and EFERT were up 5pc each. FFBL rose 6pc. NRL, PRL and ATRL put in marginal gains of 1-3pc gains. The two Suis were up 3-4pc. SEARL, the Ghandaras and MARI were the main losers among active stocks.
JSCL was the top performer this week rising by 11pc.
News of the PSX intention to lobby for emerging market status from MSCI will give confidence to bears and perhaps stanch foreign outflow that has cast a pall over the market.
Pakistan and MSCI
Net Foreign Selling
Today's session ended mixed. The Index opened well and went up to 150pts plus before succumbing to selling pressure amid a sell-off in China. Some stocks recovered from steep losses suffered a few days ago and put on further gains. Among them were FEROZ, KAPCO and MUGHAL with gains of 4pc.Turnover continues to skirt lower levels with shares changing hands. Indus Motor announced half year EPS of Rs 75 along with a payout of Rs 20. PKGS also announced full year EPS of Rs. 33.7 with a cash payout of Rs 15. NCCPL announced half year earnings of Rs4.5 with a Rs2 cash payout. By and large earnings this season have been in line with market expectations but have failed to improve sentiment. FABL lost 5pc announcing full year EPS of Rs3.5 with a Rs1 cash payout.
KSE100 this year
The market closed another volatile session positive by 222pts to end at 30786. The day started weak with a decline of 90. After seesawing between negative and positive territory the index closed firmly in the black led by cement and fertilizer sectors. Kapco added 24 pts to the index on account of a Rs. 4.25 quarterly dividend announcement. The recent hammering of the index encouraged bargain hunting. Today's movers were PAEL, SSGC, ASTL, JSCL, FFBL, MUGHAL and KAPCO all up 4-5pc. Volatility to continue. To date the market has lost 511 pts in February.
The market closed a volatile session down 113. The opening was strong up till 150pts plus on the back of higher oil prices, regional market optimism and yesterday's net inflow. Soon afterwards the index fell 400pts, recovering most of its losses led by oil stocks towards closing. OGDC closed up Rs4.4, POL Rs 6.43 and PSO up Rs. 7.4. HBL announced full year EPS OF Rs 24 largely in line with market expectations along with a Rs 3.5 final cash dividend. An interim dividend of Rs10 has already been paid. KEL announced decent half year EPS of Rs0.7
Both turnover and value traded were up 30pc today.
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