Four-day run ends with PASL at the limit-down on 166m, but the week gains 2.48%: KSE-100 slips 0.47% to 166,409.25, 11.23% below the record
KSE-100
166,409.25
-0.47%
KSE-30
49,026.65
-0.60%
KMI-30 (Shariah)
237,971.74
-0.41%
All-Share
100,707.77
-0.45%
Market Pulse
Friday's 825m tape was the heaviest since 4 September's 874m and up from Thursday's 817m, and it was tilted heavily to the downside: 554m traded in declining names against 271m in advancing ones, with 1m in unchanged names. The ten busiest names were PASL, down 10.00% at the limit to Rs 3.96 on 166m, 20% of the tape, after Thursday's 19.89% gain, CNERGY, down 3.12% to Rs 13.64 on 112m after Thursday's 10.00% gain, FNEL, up 0.89% to Rs 1.13 on 40m, TPLP, up 2.52% on 33m, TPL, up 4.65% to Rs 25.91 on 33m, KOSM, up 4.16% on 28m, PRL, down 3.82% to Rs 96.96 on 25m, which leaves it 4.05% above 13 October's Rs 93.19, KEL, down 2.85% on 21m, FCSC, down 5.97% on 18m, and WTL, down 1.05% to Rs 0.94 on 17m. Next came TPLL, up 5.14% on 14m, MDTL, down 3.25% on 12m and BAPL, up 0.16% on 12m. PASL's week ran from Rs 3.33 to Rs 3.96, 18.92% higher. At the extremes, 17 names closed up 9.9% or more against four down by that much: PINLR rose 46.54% to Rs 1.48 on its second day of trading, CLOV 14.79% and CLCPS 13.00%, and UCAPM rose 10.01% to Rs 21.00, its first gain after falls of 9.99% and 9.83%, while the losers were BAPLR1 at 17.79%, PASL and SZTM at the 10% limit-down and NGLEL at 9.97%.
Sector micro-analysis
Eleven of 33 sectors closed higher and 22 lower, with the Refinery sector the only one of the 33 to close with no advancer. Insurance led at 2.39% with 16 of 29 up, PINLR's 46.54% on 2m alone accounting for about two thirds of the sector average, followed by Property at 1.52% on BRRG's 7.08% and TPLP's 2.52% on 33m, Textile Composite on CLCPS's 13.00% and FZCM's and FSWL's 10% limit-ups, Glass and Ceramics 0.55% on FRCL's 9.72%, Leather and Tanneries 0.48% on FIL's 6.41%, Textile Spinning 0.28% with 17 of 43 up, Food and Personal Care Products 0.20%, Sugar and Allied Industries 0.11%, Modarabas 0.10%, the E&Ps 0.07% with POL up 1.58% and OGDC 0.19% on 3m against PPL's and MARI's 0.74% falls, and the Real Estate Investment Trusts 0.04%. The Refinery sector was the weakest, with ATRL down 2.83%, CNERGY 3.12% on 112m, NRL 3.53% and PRL 3.82% on 25m, followed by Engineering 2.07% with 15 of 18 lower on MUGHAL's 6.81% on 1m, Apparel 1.79%, Textile Weaving 1.62%, Cable and Electrical Goods 1.33% with WAVES down 4.33% on 2m, Cement 1.28% with 15 of 19 lower on DNCC's 6.34% and POWERPS's 9.83% against THCCL's 2.30% gain on 11m, Transport and Paper, Board and Packaging 1.24% each, Power Generation and Distribution 1.19% with 9 of 16 lower on KEL's 2.85% on 21m and NGLEL's 9.97%, Commercial Banks 1.16% with 15 of 19 lower, JSBL down 7.41% on 2m, SBL 3.93% and BML 2.77% against MEBL up 0.48%, Fertilizer 1.05% with four of five lower on FATIMA's 3.14% and AHCL's 2.93%, Automobile Assemblers 0.84%, Chemical 0.64% and Investment Banks, Investment Companies and Securities Companies 0.56% with 21 of 32 lower. Technology and Communication fell 0.10% with 15 of 21 lower as TPL's 4.65% on 33m and TPLT's 6.03% met MDTL's 3.25% fall on 12m and TRG's 2.11%.
| Sector | Avg change | Breadth (A / D) |
|---|---|---|
| Insurance | +2.39% | 16 / 11 |
| Property | +1.52% | 3 / 1 |
| Textile Composite | +1.22% | 17 / 19 |
| Glass & Ceramics | +0.55% | 2 / 5 |
| Apparel | -1.79% | 2 / 2 |
| Engineering | -2.07% | 3 / 15 |
| Refinery | -3.32% | 0 / 4 |
Most active
- PASL 166m Rs 3.96 -10.00%
- CNERGY 112m Rs 13.64 -3.12%
- FNEL 40m Rs 1.13 +0.89%
- TPLP 33m Rs 12.60 +2.52%
- TPL 33m Rs 25.91 +4.65%
Gainers
- PINLR Rs 1.48 +46.54%
- CLOV Rs 6.13 +14.79%
- CLCPS Rs 3.65 +13.00%
- BPL Rs 49.23 +10.01%
- UCAPM Rs 21.00 +10.01%
Losers
- BAPLR1 Rs 4.62 -17.79%
- SZTM Rs 158.66 -10.00%
- PASL Rs 3.96 -10.00%
- NGLEL Rs 17.06 -9.97%
- POWERPS Rs 23.02 -9.83%
Market Action
Participant flows: NCCPL participant flows for Friday are not yet in the record. The internals read as a broad, volume-tilted decline: 173 advancers against 299 decliners, 554m traded in declining names against 271m in advancing ones, 11 of 33 sectors higher and all four refineries lower, with PASL's 166m and CNERGY's 112m together a third of the tape. The last foreign figure on record is Thursday's net sell of PKR 1,230.44m, the seventh straight, the second-largest since 11 September's PKR 1.79bn and PKR 5.85bn since 21 October.
Outlook
- •The four-day gain run ended with a 784.18-point fall to 166,409.25, leaving the index 2,300 points under the 10% line for a twenty-second straight session, 11.23% below the record and 2.70% under the 24 July low for a twenty-seventh, but still 0.33% above the 5 October close and 2.48% above last Friday's 162,374.87, a weekly gain that snapped five straight weekly losses.
- •Breadth weakened from Thursday's 231 advancers against 232 decliners to 173 against 299, with 11 of 33 sectors higher and 554m of the 825m tape in declining names, the heaviest tape since 4 September's 874m.
- •PASL fell to the 10% limit-down on 166m, a fifth of the tape, a day after rising 19.89%, and the refineries gave back some or all of Thursday's gains, CNERGY falling 3.12% on 112m and PRL 3.82%, while PINLR rose 46.54% on its second day of trading and UCAPM rose 10.01% after two falls.
What to watch
- •Whether the index holds above the 5 October close of 165,867.31 - Friday's 166,409.25 was 0.33% above it and 1.36% under the 168,710 line
- •Whether PASL's limit-down extends - it fell 10.00% to Rs 3.96 on 166m after rising 19.89% on Thursday and 20.72% on Wednesday, and is 18.92% above last Friday's Rs 3.33
- •Whether foreign selling continues once Friday's NCCPL flows post - Thursday's PKR 1,230.44m was the seventh straight net sell and the second-largest since 11 September, PKR 5.85bn in all since 21 October
- •USD/PKR, SBP rate signals and the global crude tape
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