April saw the market power up 1580pts (4.7pc) to close at 34710. Turnover averaged 235mln shares while value traded was Rs 10.23. Value traded and volumes were sharply higher compared to march by about 40pc and 60pc respectively. Since the start of this year the index's tally stands at 1903pts or a gain of 5.7pc.
Cements which put up a strong showing last month were relatively mute in price performance. The Index got its gains from E&P's and HBL. OGDC, POL and PPL put in double digit percentage gains with POL leading the pack, up 24pc. PPL and OGDC finally ended their drought rising 15pc a piece. Oil stocks took their lead from crude prices which surprisingly remained robust despite failure of OPEC's Qatar session. Federal Reserves decision to keep interest rates on hold for now put pressure on the dollar and helped oil prices.
HBL aided the Index gaining 10pc for the month reversing a strong bearish trend.
The only cement scrip to post significant gains was ACPL up 10pc.
Refineries rose in April. NRL, up 27pc. BYCO and ATRL also put in 21pc and 12pc gains.
SNGP was the top performer for the month posting a gain of 31pc.
TRG gained 21pc. An assortment of small cap stocks posted double digit percentage gains during the month including DFML, POWER, JPGL, TELE, ANL, WTL. These stocks posted +20pc gains. DFML was up 44pc.
Fatima fertilizer lost 8pc during the month. Feroz lost 7pc.
Going forward the market will look to MSCI's review of Pakistans status as frontier market with interest. Newsflow on upcoming budget will influence market direction. Crude price volatility could dampen the strong showing of E&P's this month.
The Market shot up this week by 2.9pc, up 980pts to close at 34719. Turnover averaged 242mln shares while value traded was Rs.11.76bln. Volume was almost level with last week while value traded rose 18pc.. Gains this week were led by Oil and Gas sector and Banks. OGDC ended its underperformance in the past few weeks with a solid 10pc gain while PPL and POL gained 4-5pc. HBL rose 8pc and MCB 6pc. Banks benefited from a lesser quantum of foreign outflow while the oil sector go support from firm crude oil prices. In addition to this small cap stocks saw price performance and improved activity. This weeks rally was broad based across sectors and big and small cap stocks.
Volume leaders for the week were, SNGP, DFML, TRG, PAEL and TELE. SNGP has of late seen a resurgence on the back of investment buildup in LNG projects. Fertilizers saw support after news broke of reduction in GIDC for older plants. FFC was down just 1pc for the week.
Among actively traded scrips the top performers were ISL up 15pc and PKGS and NML up 11pc each. NML saw increased interest due to better than expected earnings.
PSMC, SYS HUMNL and NESTSOL were the worst scrips losing 5-6pc.
The index has notched another solid 4.7pc gain for April, following a 6pc gain in march bringing the total gain to 10.7pc. Further runup in the index will have to be based on additional triggers as earnings season is over. As always the market will keep a close eye on quantum and direction of foreign flows.
The index continued its upward journey today as well closing up 234pts (0.7pc), to close at 34503. Volumes were up 5pc at 270mln shares while value traded was up 16pc at Rs 14.5bln. Significant activity was recorded in PAEL today which ended the day at uppercap. Value traded in the scrip was Rs1.4bln which is a high for 2016. Gains today in the index were led by MCB, HBL and UBL.. The oil sector with exception of OGDC, cement sector and refineries were subdued. Additionally CSAP, DAWH, and ISL closed over 4pc higher. Further rally in crude prices could set the stage for another run up.
PPL announced quarterly EPS of Rs 1.92 while Hubco announced EPS of Rs 2.62. Fatima Fertilizer announced EPS of Rs 0.43.
The market shot up today conclusively breaching 34000 to close up 421pts or 1.24pc at 34269. Turnover and value traded were 257mln shares and Rs12.5bln marginally changed from yesterday. The total tally of index gain for April now stands at 1130pts or 3.4pc. Todays charge was let by E&P's and refiners. Oil stocks took strength from crude oil prices. WTI skirted $45 for the first time since November 2015.
OGDC and POL rose in excess of 4pc, while PPL gained over 3pc.
Among actively traded stocks, NML, NCL, SSGC and ARPL hit upper caps.
Strength in crude prices could further propel the index.
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