Six giant companies are driving the KSE-100 rally

Abdur Rahman | October 24, 2024 at 05:42 PM GMT+05:00
October 24, 2024 (MLN): The six megacap Pakistan stocks have accounted for half of the total KSE-100 Index rally this year.
Pakistan equity benchmark KSE-100 Index is up a significant 26,495 points or 42.4% so far in 2024, buoyed by improving macroeconomic indicators thanks in no small part to the International Monetary Fund's support.
Fauji Fertilizer, United Bank, Engro Fertilizers, Mari Petroleum, Oil & Gas Development Company, and Meezan Bank have gained 13,179 points—49.7% of the total KSE-100 return, according to data compiled by MG Research.
The best-performing stocks so far this year have been FFC (+4,001pts), UBL (+2,565pts), EFERT (+2,066pts), MARI (+1,654pts), and OGDC (+1,455pts).
Whereas, the worst-performing are TRG (-353pts), COLG (-230pts), PSEL (-166pts), EPCL (-103pts), and NESTLE (-103pts).
Sector-wise, top positive contributors are Commercial Banks (+9,435pts), Fertilizer (+7,138pts), Oil & Gas Exploration Companies (+4,570pts), Cement (+1,700pts), and Pharmaceuticals (+1,025pts).
Contrary to that, negative contributions have come from Food & Personal Care Products (-221pts), Miscellaneous (-99pts), Textile Composite (-79pts), Technology & Communication (-57pts), and Paper, Board & Packaging (-53pts).
FIPI/LIPI
Foreign investors have dumped $11 million of stocks in 2024 due to FTSE rebalancing, which demoted Pakistan from Secondary Emerging to Frontier Market in July.
Flow-wise, Mutual funds have been the dominant buyers, with a significant investment of $79.4m.
They have allocated the majority of their capital to Fertilizer ($26.2m), followed by Cement ($19.2m).
On the other hand, the leading sellers are Banks / Dfi with $63.7m. Their most substantial sales activity is in Fertilizer ($35.2m), followed by Commercial Banks ($33m).
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Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 145,382.80 276.74M | -0.18% -264.34 |
ALLSHR | 89,824.60 544.97M | -0.09% -81.76 |
KSE30 | 44,614.06 124.57M | -0.32% -143.97 |
KMI30 | 206,959.19 132.52M | -0.48% -1003.25 |
KMIALLSHR | 59,977.48 292.56M | -0.38% -231.21 |
BKTi | 39,957.52 20.70M | -0.34% -136.73 |
OGTi | 30,661.68 43.11M | -0.07% -21.38 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,425.00 | 118,405.00 116,295.00 | -740.00 -0.63% |
BRENT CRUDE | 66.32 | 67.22 65.53 | -0.11 -0.17% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 63.35 | 64.58 62.77 | -0.53 -0.83% |
SUGAR #11 WORLD | 16.27 | 16.35 16.02 | 0.26 1.62% |
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