Adam Securities Limited – Market Wrap

Karachi, April 30, 2015 (PPI-OT): Market Summary

Bulls back at local bourse after two back to back bearish sessions. Investors raised their eyebrows after consistent foreign buying as they have bought $15.98 worth of stocks during the week so far. Fundamentally strong companies of Fertilizer, Automobile Assembler and Cement sector remained in the limelight.

At close, the Karachi Stock Exchange’s (KSE) benchmark 100-index up by 0.8% or 269.95 points to end at 33,730. Volumes at KSE-100 index clocked in at 143.9 million shares, down by 9.4%. Trading value at local bourse increased to Rs 12 billion against Rs 7.8 billion. The advance to decline ratio in the broader market remained in the favor of bears. Out of 343 scrips, 141 scrips advanced, 171 scrips declined while the value of 25 scrips remained unchanged.

Bullish sentiments witnessed at Karachi Stock Exchange. In Fertilizer sector ENGRO, FATIMA, EFERT and FFBL surged by 3.90%, 1.50%, 2.93% and 1.36% respectively. In Commercial Banks sector HBL, BAFL and BIPL increased by 1.88%, 0.78% and 2.20% accordingly, while MCB and NBP plunged by 2.20% and 2.70%. In Cement sector DGKC, CHCC and LUCK inched up by 0.99%, 1.83% and 1.30% respectively. In Technology and Communication sector HUMNL, TRG and NETSOL shed by 2.08%, 2.96% and 0.82% respectively.

In volume chart, FCCL remained the volume leader with 16.79 million shares, closed at Rs 33.69 surged by Rs 0.78 followed by BYCO with 15.19 million shares closed at Rs 13.02 by losing Rs 0.42. TRG remained 3 rd in the volume chart with 11.35 million shares and closed at Rs 18.39 by decreasing Rs 0.56.

Major trading activities witnessed in Fertilizer sector as traded above 32.36 million shares followed by Commercial Banks sector with 31.48 million shares. Cement sector parked at 3 rd place by trading above 29.71 million shares. Top gainers of the day were Indus Motor Co and Pak Tobacco with price change of Rs +57.84 and Rs +40.90 respectively. While top losers of the day were Island Textile and Archroma Pak with the price change of Rs -37.45 and Rs -21.94 respectively.