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HomeEquityClosing Bell: Increased interest in Fertilizer stocks helps KSE-100 inch up

Closing Bell: Increased interest in Fertilizer stocks helps KSE-100 inch up

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

 

Posted on: 2017-09-18T18:15:00+05:00
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