Research

Today’s session was due to ~3x more drops than gains leading indices to close in the red: SEMDEX (-0.1%), ALEX 20 (-0.1%), ALCAPEX 12 (-0.0%).

 

Trading on the other hand was driven by the banking duo raking a whopping 90% of TMT. MCB [60%: NFP: Rs6M] (±0%) was unmoved despite foreign investments while peer SBM [30%: NFS: Rs25M] who was recently added as a constituent of the MSCI Frontier Market rose to Rs6 (+0.7%) despite foreign disinvestment.

 

Sister companies CIM at 2Mth-Low Rs7 (-1.4%) and LAVA at Rs3.20 (-5.3%) receded amid profit taking. Similarly, APL retraced to Rs12.30 (-1.5%). Among conglomerates, sugar companies TERRA rebounded to Rs21 (+1.2%) as did OMNI who stood at Rs40 (+0.6%).