Six giant companies are driving the KSE-100 rally

By 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 | 133,782.84 179.39M |
0.31% 412.70 |
ALLSHR | 83,470.30 698.23M |
0.47% 389.14 |
KSE30 | 40,779.99 63.86M |
0.18% 74.69 |
KMI30 | 192,704.05 72.69M |
0.06% 123.37 |
KMIALLSHR | 55,983.63 415.67M |
0.26% 147.92 |
BKTi | 36,503.86 11.54M |
0.51% 186.68 |
OGTi | 28,531.39 7.31M |
-0.04% -11.57 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,855.00 | 108,880.00 107,680.00 |
400.00 0.37% |
BRENT CRUDE | 69.38 | 69.61 69.03 |
-0.20 -0.29% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
2.90 3.07% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.75 106.00 |
0.25 0.24% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 67.62 | 67.97 67.40 |
-0.31 -0.46% |
SUGAR #11 WORLD | 16.21 | 16.30 16.16 |
-0.07 -0.43% |
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