Saudi aid and corporate results saves the day
31 Oct, 2021
Important Announcements
Pakistan Stock Exchange is reverting to its old trading system due to technical glitches in the new trading session that it bought from Shenzhen Stock Exchange. FinPocket technical team will keep a close eye on the system performance to ensure a seamless trading experience.
On Market Front
TRACKING KSE-100
This week, the market witnessed V shape recovery as Saudi Arabia committed a USD 4.2 bn support package to Pakistan. This week index increased by 641 points to close at 46,219 points. Trading during the week got disrupted because of the implementation of the new trading system and PSX management even had to suspend trading for 2.5 hours on Wednesday.
NATIONAL BANK UNDER ATTACK
National Bank of Pakistan (NBP: +3.31%) announced on Saturday, that their servers were attacked. However, the IT team was able to isolate the hacked servers from the rest of the system. Management has informed that there was no financial or customer data loss however, a detailed investigation is underway.
RESULT ANNOUNCEMENTS & ANALYSIS
Cement Sector
DG Khan Cement (DGKC: +4.08%) announced a PAT of PKR 908mn (EPS: PKR 2.07) for its 1QFY22 financial result.
Cherat Cement (CHCC: +5.29%) announced a PAT of PKR 1,193mn (EPS: 6.14) for its 1QFY22 financial result.
Lucky Cement (LUCK: +5.24%) announced a PAT of PKR 3,284mn (EPS: PKR 10.15) for its 1QFY22 financial result.
Fauji Cement (FCCL: +4.27% ) announced a PAT of PKR 1,359mn (EPS: PKR 0.98) for its 1QFY22 financial result.
Pioneer Cement (PIOC: +7.50%) announced a PAT of PKR 480mn (EPS: PKR 2.12) for its 1QFY22 financial result.
Steel Sector
Aisha Steel (ASL: -1.72%) announced a PAT of PKR 738mn (EPS: PKR0.80) for its 1QFY22 financial result.
International Steel (ISL: 0.52%) announced a PAT of PKR 2,668mn (EPS: PKR 6.13) for its 1QFY22 financial result.
Auto Sector
Indus Motor Company (INDU: +3.61%) announced a PAT of PKR 5.4bn (EPS: PKR 69.0) for its 1QFY22 financial result.
Agri Auto Industry (AGIL: +3.79%) announced a PAT of PKR 233mn (EPS: PKR 8.08) for its 1QFY22 financial result.
Pak Suzuki Motors Company Limited (PSMC: +5.73%) announced a PAT of PKR 994mn (EPS: PKR 12.07) for its 2QCY21 financial result.
Millat Tractor (MTL: -0.52%) announced a PAT of PKR 1.3bn (EPS: PKR 19.57) for its 1QFY22 financial result.
Oil Marketing Sector
Pakistan State Oil (PSO: -0.32%) announced a PAT of PKR11,994mn (EPS: PKR 25.55) for its 1QFY22 financial result on 28th October’21.
On Economic Front
WINTER IS COMING
Oil price is increasing ahead of the Organization of the Petroleum Exporting Countries (OPEC ) meeting. The producers are expected to keep production cut and keep the supply in check. The rising prices will make the LNG and all other consumer items expensive.
TWEET OF THE WEEK
