November 19, 2021 (MLN): The capital market remained bullish most of the time as investors cheered the positive growth of Large Scale Manufacturing Industries (LSMI), which has increased by 5.15% during the 1QFY22 compared to the same period last year.
The benchmark KSE100 index gained 378.91 points during the sessions as it locked the day’s trade at 46,489.41.
The local bourse also endured a mild selling pressure on the back of Current Account Deficit (CAD) numbers, released in the later hours. During October’21, CAD stood at $1.66 billion, widened by 46.65% MoM, from $1.13bn in September’21 owing to a moderate decline in exports, remittances, and an uptick in services imports.
Since investors were expecting a hefty hike in the policy rate by SBP, the banking sector witnessed notable accumulation today.
MPC decided to raise the policy rate by 150 basis points (bps) to 8.75 percent. The outcome of the meeting was in line with the market expectations where a reasonable number of individuals believed that the monetary policy committee of SBP will go for an aggressive hike of above 100 bps.
Scrips of TRG remained under pressure as the share price of the company plunged by 20.85% (Rs27.25) within two days and traded at Rs103.25 per share due to the harassment allegations against the CEO of the company.
The Index traded in a range of 595.79 points or 1.29 percent of the previous close, witnessing an intraday high of 46,600.82 and a low of 46,005.03.
Of the 95 traded companies in the KSE100 index, 64 closed up 25 closed down, while 6 remained unchanged. The total volume traded for the index was 128.24 million shares.
Sectors propping up the index were commercial banks with 179 points, fertilizer with 102 points, oil & gas exploration companies with 68 points, cement with 62 points, and textile composite with 25 points.
The most points added to the index were by ENGRO which contributed 62 points followed by MCB with 39 points, LUCK with 39 points, PPL with 37 points, and HBL with 37 points.
Sector-wise, the index was let down by technology & communication with 110 points, power generation & distribution with 19 points, refinery with 5 points, leather & tanneries with 4 points, and transport with 1 point.
The most points taken off the index was by TRG which stripped the index of 94 points followed by SYS with 20 points, HUBC with 20 points, HMB with 8 points, and PSX with 5 points.
All share volume increased by 40.66 million to 304.21 million Shares. Market cap increased by Rs69.54 billion.
Total companies traded were 356 compared to 340 from the previous session. Of the scrips traded 215 closed up, 123 closed down while 18 remained unchanged.
Total trades increased by 13,256 to 110,905.
Value Traded increased by 3.52 billion to Rs12.00 billion
| Company | Volume |
|---|---|
| Ghani Global Holdings | 33,898,000 |
| Service Fabrics | 17,868,000 |
| First National Equities | 14,858,500 |
| Fauji Foods Ltd(R) | 10,576,500 |
| Worldcall Telecom | 10,425,000 |
| Maple Leaf Cement Factory | 10,413,910 |
| United Bank | 9,707,962 |
| Azgard Nine | 9,703,500 |
| Telecard | 7,124,500 |
| Unity Foods | 6,572,128 |
| Sector | Volume |
|---|---|
| Chemical | 40,822,400 |
| Food & Personal Care Products | 34,517,328 |
| Technology & Communication | 34,281,807 |
| Commercial Banks | 33,838,565 |
| Cement | 23,466,887 |
| Inv. Banks / Inv. Cos. / Securities Cos. | 18,289,625 |
| Textile Weaving | 18,171,000 |
| Textile Composite | 11,970,050 |
| Engineering | 11,517,131 |
| Fertilizer | 11,193,121 |
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