Weekly Market Roundup

Abdur Rahman | November 22, 2024 at 08:19 PM GMT+05:00
November 22, 2024 (MLN): Pakistan stocks extended their record-breaking run to close in on the historic 100,000 mark, buoyed by improving economic conditions and falling bond yields.
The stock benchmark KSE-100 Index advanced 3,035 points or 3.2% to 97,798 and notched its fifth consecutive weekly gain, the longest winning streak since April.
The gauge has handed more than 56% returns to investors this year, aided by mutual funds’ net purchases of $136.5 million in Pakistani stocks, the highest since 2017, according to data compiled by MG Research.
Mutual funds are piling into local shares at a record pace on signs of improvement in the nation’s economy, declining interest rates, and a stable rupee.
Pakistan’s economy has stabilized with inflation easing significantly from a record 38% in May 2023 to 7.2% in October. That has allowed the central bank to reduce interest rates by 700bps since June in four consecutive cuts.
Consumer price gains are expected to ease further to below 5% in November, according to MG Research calculations
Despite the stock market's record-breaking rally, the KSE-100 is still traded at 5.8 times future earnings, a multiple that’s 29% lower than its 10-year average.
Throughout the week, KSE-100 traded in a wide range of 5,003 points, between a high of 99,623 (+4,859) and a low of 94,620 (-143) points.
Pakistan stock market's average traded volume rose 12.8% WoW to 990.71 million shares. Traded value also increased 5.4% WoW to Rs34.41 billion.
Market capitalization jumped by $1.11bn or 2.5% to $45.07bn over the week. In PKR terms, market capitalization stood at Rs12.52 trillion.
Top Index Movers
Sector-wise, top positive contributors were Commercial Banks (+1,475pts), Fertilizer (+1,364pts), Miscellaneous (+112pts), Pharmaceuticals (+103pts), and Oil & Gas Exploration Companies (+78pts).
Contrary to that, negative contributions came from Cement (-151pts), Refinery (-54pts), Technology & Communication (-35pts), Textile Composite (-31pts), and Automobile Assembler (-31pts).
The best-performing stocks during the week were FFC (+979pts), MEBL (+393pts), BAHL (+254pts), HBL (+207pts), and MCB (+180pts).
Whereas, the worst-performing were HUBC (-91pts), SEARL (-59pts), TRG (-56pts), LUCK (-52pts), and ATRL (-48pts).
FIPI/LIPI
Foreign investors were net sellers during the week, dumping a significant $33m worth of equities.
Flow-wise, the leading sellers were Foreign Corporates with a net sale of $31.3m. Their most substantial sales activity was in Commercial Banks, amounting to $22.2m.
On the other hand, Companies were the dominant buyers, with a net investment of $13.0m. They allocated the majority of their capital, $9.7m, to Commercial Banks.
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Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
BKTi | 37,831.34 13.04M | 1.62% 603.62 |
OGTi | 27,440.63 3.93M | -0.09% -23.70 |
Symbol | Bid/Ask | High/Low |
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Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,845.00 | 119,740.00 116,460.00 | -450.00 -0.38% |
BRENT CRUDE | 73.52 | 73.63 71.75 | 1.01 1.39% |
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 | 70.34 | 70.51 68.45 | 1.13 1.63% |
SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
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Pakistan Stock Movers
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