Stock Watch.

Byline: Raees Uddin Khan

PSX loses 202 points on foreign selling and falling rupee

Summary

The week ended with the completion of month of September. The September turned out to be the worst month for trading for the investors. The massive share offloading by foreign investors was the cause of heavy losses the KSE-100 Index suffered during September. The latest data issued by the SBP showed that in September the inflow of foreign investment in equity was of $50.8 million while the outflow was $136.8 million. There was a net out flow of $86m from the equity market in the month. The interbank market rates/open market rates for dollar on Friday was 169.60 /171.30. It climbed to highest 170.45/172 on Friday.

The KSE-100 Index lost 201,82 points or 0.44 percent and closed at 44,871.70 trading activity remained low as daily volume on ready counter decreased to 355 million shares as compared to 384m previous week. Foreign investors also remained net sellers of shares worth $21,86 m. Total market capitalisation, however decreased by Rs.23 billion to Rs.7.808 trillion.

Monday: KSE-100 Index 44,817.76 (-) 255.76 volume 301m Mkt. Cap Rs. 7,773 T

Tuesday: KSE-100 Index 45,274.93 (+) 457.17 Volume 365m Mkt. Cap Rs.7,828 T

Wednesday: KSE-100 Index 44366.74 (-) 908.19 Volume 468m Mkt. Cap. Rs.7,701 T

Thursday: KSE-100 Index 44,899.60 (+) 532.86 Volume 372m Mkt. Cap Rs.7,804 T

Friday: KSE-100 Index 44,871.70 (-) 27.90 Volume 267m Mkt. Cap Rs.7,806 T

Participants/Activity

Foreigners were net seller $21.86m during the week; companies were seller by $1.84m, Banks were buyer $10.14m; Mutual fund net seller $1.70m; individuals net buyer $3.09m and Insurance Co. were buyer $ 8.09m.

Volume leaders during the were: Byco Petroleum 146m; World Call Tele 139m; Telecard Ltd 88m; Dolman City 55m; Unity Foods 51m; Azgard Nine 47m; K-Electric 32m; Nishat (Chunian) 17m; TPL Corp Ltd 15m; Hascol Petroleum 14 m; Aisha Steel Mills 13m; Hum Network and Bank Alfalah 10m each.

Participants: Companies 556; Gainer 273; Loss 267 and Unchanged 16.

Triggers

- FBR collected Rs.1.395 trillion in the first quarter of the current financial year exceeding the target of Rs.1.211 trillion by Rs.186 billion.

- Making new records, the...