Research

Conglomerates’ extended plunge dragged indices firmly in the red: ALCAPEX 12 dipped to 1,568pts (-0.5%), ALEX 20 to 1,122pts (-0.2%) and SEMDEX to 2,182pts (-0.2%). ALTEO [9%; NFS: 4M] – today’s most active conglomerate – was sold by FI at 5Mth-Low Rs31.70 (-1.9%); TERRA tumbled further to 1¼Yr-Low Rs29.20 (-2.7%) in tandem with lower sugar prices and ROGE retreated to Rs29 (-1.7%).

 

Almost half of the daily turnover at Rs68M was driven by foreign activities on banking duo: MCB [28%; FP: 47%] registered foreign inflows to the tune of Rs6M at a flat Rs275 (±0%) while FI were net sellers on SBM [19%; FP: 40%] at Rs7.76 (±0%). CIM recorded its strongest one-day drop since Mar-17 to Rs9.02 (-2.0%) on some 88k shares while insurer MEI climbed further to 4Wk-High Rs92.50 (+0.5%) on a mere 200 shares in line with earning results. Hoteliers NMHL shed another 5cts to Rs22.65 (-0.2%) whereas LUX rebounded to Rs59 (+1.3%) and SUN inched further up to Rs44.15 (+0.3%) i.e. its highest since Dec-11. Volatile LOTO eased off from recent highs to Rs7.50 (-1.3%) while holding GAMMA was thinly traded at Rs31.25 (+0.8%).

 

Illiquid ABC [3%] noted a market sell off at 3Mth-Low Rs96 (-17%) in early session. In contrast, experiencing sharp rebounds on 500 shares or less today were staple LFL at All-Time High Rs32.95 (+3.0%), GBL1 GRIT at 8Wk-High $1.40 (+3.7%) and materials CHEM at Rs18.60 (+1.9%). Among INVH, 15k PAD shares were bought was FI at Rs125.75 (+0.2%) while NITL gave up 15cts to Rs25 (-0.6%). The debt board made up 18% of exchanges today, essentially geared towards SUN R+1.30% 04/11/21.