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).
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 148,617.78 624.60M | 0.86% 1274.27 |
ALLSHR | 91,685.08 1,340.28M | 0.74% 669.39 |
KSE30 | 45,247.79 197.43M | 0.83% 370.74 |
KMI30 | 212,370.79 224.51M | 1.05% 2209.48 |
KMIALLSHR | 61,227.89 711.87M | 1.18% 715.56 |
BKTi | 41,264.02 160.39M | 0.54% 221.73 |
OGTi | 30,019.10 23.63M | 0.64% 190.41 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,265.00 | 113,390.00 108,020.00 | -4475.00 -3.97% |
BRENT CRUDE | 67.46 | 67.94 67.29 | -0.52 -0.76% |
RICHARDS BAY COAL MONTHLY | 88.70 | 88.70 88.70 | -0.75 -0.84% |
ROTTERDAM COAL MONTHLY | 96.15 | 96.75 96.00 | -0.40 -0.41% |
USD RBD PALM OLEIN | 1,106.50 | 1,106.50 1,106.50 | 0.00 0.00% |
CRUDE OIL - WTI | 64.01 | 64.55 63.88 | -0.59 -0.91% |
SUGAR #11 WORLD | 16.34 | 16.52 16.33 | -0.14 -0.85% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|