Research

In today’s session, an atypical TMT driver stole the spotlight, ENL [56%] who was heavily exchanged at VWAP Rs30.10 (-2.6%) declined below its Rs30 mark to Rs29.80 (-3.6%). ENL’s drop along with IBL’s retreat from recent peak to Rs53.25 (-0.9%), dragged indices down; ALEX-20 (-0.3%) and ALCAPEX-12 (-0.2%) both at 4Wk-Low while the SEMDEX (-0.4%) plunged to ~2Yr-Low.

 

A third of TMT was driven by Banks; MCB [24%] (±0) remained flat as well as ABCB [4%] (±0), SBM [2%] gained traction to Rs5.76 (+1.1%) and AFREX who now  stands at 16Mth-High $4.25 (+0.5%), i.e 5cts below its introductory price of $4.30.

 

At fresh lows, ALTEO (-0.8%) declined to 4Wk-low, UTIN (-4.7%) at 6½Yr-Low and QBL (-0.7%) at ~1½Yr-Low.