Adam Securities Limited – Market Summary

Karachi, May 20, 2015 (PPI-OT): KSE-100 index maintained its downward trajectory to extend bearish wave. Local bourse completely ignored the expectations of 50 bps cut in Monetary Policy (MPS) due on 23 May. Investors preferred to have cash in hand so that it can be invested after the Federal Budget 2015-16 accordingly.

At close, the Karachi Stock Exchange’s (KSE) benchmark 100-index down by 0.4% or 130.55 points to end at 32,599. Volumes at KSE-100 index clocked in at 84.5 million shares, up by 44.5%. Trading value at local bourse increased to Rs 6.0 billion against Rs 4.3 billion.

The advance to decline ratio in the broader market remained in the favor of bears. Out of 317 scrips, 130 scrips advanced, 158 scrips declined while the value of 29 scrips remained unchanged.

Bearish sentiments prevailed at Karachi Stock Exchange. In Fertilizer sector DAWH, ENGRO and FFC shed by 1.83%, 0.45% and 0.84% respectively, while EFERT gained meager 0.75%. In Refinery sector ATRL and NRL dipped by 0.29% and 0.31%, while PRL and PRLR hit the upper limit. In Cement sector DGKC, FCCL and CHCC increased by 1.00%, 0.56% and 0.53% respectively. In Fertilizer sector Power Generation and Distribution sector EPQL, PKGP and NPL shed by 0.63%, 1.65% and 1.10% respectively.

In volume chart, FATIMA remained the volume leader with 18.01 million shares, closed at Rs 35.63 dropped by Rs 1.85 followed by EFERT with 12.56 million shares closed at Rs 84.95 by increasing Rs 0.63. BYCO remained 3 rd in the volume chart with 12.42 million shares and closed at Rs 13.29 by shedding Rs 0.71. Major trading activities witnessed in Fertilizer sector as traded above 35.94 million shares followed by Refinery sector with 13.33 million shares.

Cement sector parked at 3 rd place by trading above 10.97 million shares. Top gainers of the day were Indus Dyeing and Sanofi Aventis with price change of Rs +37.08 and Rs +18.99 respectively. While top losers of the day were Island Textile and Indus Motor Co with the price change of Rs -34.10 and Rs -13.11 respectively.