October: KSE100 up 6pct

October saw the market stabilize and gain 1975pts to close at 34262. International market stability helped calm the local bourse. Crude oil prices lent support to the oil and gas sector. Investor interest shifted from NAB enquiries vis a vis brokers and the MCB deal to quarterly earnings season. Further to this political noise was subdued with the incumbent government holding its seat in NA 122 even though the margin of victory was small. During the month the GOP announced a duty on yarn and cloth import from India, and fertilizer price cutbacks. Car sale numbers during the month came out strong supporting the automotive sector. PSO, Indus motors and Pak Suzuki announced strong earnings, while FFBL and Pak Elektron numbers were below expectations. The index gained this month even though foreign outflows intensified during the month at USD48mln up from USD22mln in September, This was largely due to local interest by mutual funds. Average volumes during the month were 173mln shares and value traded was Rs.9bln.

The top gainer during the month was Noon Pakistan putting in a 100pc increase. Hascol and Mughal Steel were up 30pc. Arif Habib Corp rose 26pc Searle and Dawood Hercules put in an increase of 22-23pc.


Autos outperformed the Index significantly, Oil and Gas marketing, Pharma and E&P's gained during the month while cements and fertilizers were less positive. Refineries were unchanged and banks saw selective gains.

Ghandara Industries and General Tyre were up by 20pc. Indus motors was up 18pc and Honda and Pak Suzuki put in 12pc.

Hascol was up 30 pc, PSO 18pc and SNGP 11pc.

Mari and OGDC climbed 14 and 12pc.

Searle rose 23pc and Ferozsons 11pc.

Fertilizers were marginally higher except Dawood Hercules which rose 22pc.

Among banks UBL and Bank Alfalah outperformed rising 12 and 14pc. Habib Metro rose 11pc.

Cements managed to keep pace with the KSE100 Index.

Pak Elektron was up 7pc. TRG 12pc, Byco 2pc. Al Shaheer finished the month up 21pc on the back of its 35pc bonus. JSCL was up 19pc. Mughal Steel rose 30pc. Pak Bulk Terminal was up 10pc.

The top 5 actively traded scrips by value traded were Pak Elektron, Engro, Trg, Searle and Dgkc.