Six giant companies are driving the KSE-100 rally

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By 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 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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