Six giant companies are driving the KSE-100 rally

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Abdur Rahman | October 24, 2024 at 05:42 PM GMT+05:00

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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 168,345.34
154.84M
-0.04%
-66.90
ALLSHR 100,841.56
386.77M
0.00%
0.41
KSE30 50,887.82
34.25M
-0.20%
-102.66
KMI30 242,173.82
80.18M
0.14%
339.66
KMIALLSHR 65,469.19
203.67M
0.23%
148.81
BKTi 47,060.54
15.95M
-0.59%
-280.27
OGTi 34,753.99
3.13M
-0.53%
-185.96
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 77,680.00 77,890.00
76,485.00
1020.00
1.33%
BRENT CRUDE 111.59 111.96
110.26
0.33
0.30%
RICHARDS BAY COAL MONTHLY 109.50 110.00
109.00
2.40
2.24%
ROTTERDAM COAL MONTHLY 104.75 106.75
104.75
0.45
0.43%
USD RBD PALM OLEIN 1,191.50 1,191.50
1,191.50
0.00
0.00%
CRUDE OIL - WTI 99.67 100.74
98.42
-0.26
-0.26%
SUGAR #11 WORLD 14.24 14.30
13.98
0.27
1.93%

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