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Category: Stock & Commodity

  • Stock members asked to pay capital gain tax by June 30

    Stock members asked to pay capital gain tax by June 30

    KARACHI: Clearing members of Pakistan Stock Exchange (PSX) have been asked to pay Capital Gain Tax (CGT) on disposal of securities by June 30, 2022.

    National Clearing Company of Pakistan Limited (NCCP) in a notification on Thursday stated that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period May 01, 2022 to May 31, 2022, would be collected on Thursday, June 30, 2022 through respective settling banks of the Clearing Members.

    All clearing members have been asked to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.

    READ MORE: NCCPL to collect CGT for August 2021 on October 29

    Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period May 01, 2022 to May 31, 2022, would also be collected from the Pakistan Mercantile Exchange on Thursday, June 30, 2022.

    Necessary details and reports for the said period have already been made available.

    READ MORE: CGT rates on disposal of securities during Tax Year 2022

    Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period April 01, 2022 to April 30, 2022. Necessary details and reports have already been made available in the CGT System.

    Clearing Members and Pakistan Mercantile Exchange have been advised to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads. Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.

  • Pakistan stocks shed 68 points on rupee depreciation

    Pakistan stocks shed 68 points on rupee depreciation

    KARACHI: Stocks fell by 68 points on Wednesday as Pakistan Rupee (PKR) extended losses against the US dollar during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,458 points as compared with previous day’s closing of 42,526 points, showing a decline of 68 points.

    READ MORE: Pakistan stocks gain 749 points on hopes of IMF program

    Analysts at Arif Habib Limited said that the benchmark KSE-100 index opened in the green zone as rupee, during the day, snapped its losing streak against the dollar gaining Rs3.80 in the interbank market.

    The rupee made the gain a day after the government secured the much-anticipated deal with the International Monetary Fund (IMF).

    “However, this gaining of Rupee against dollar was short-lived as PKR closed at 211.93,” the analysts said.

    READ MORE: Rupee slips to new low at Rs211.93 against dollar

    Investor opted for profit-taking in the last trading hour which led the index to close in the red zone. Volumes remained healthy in the main board stocks.

    The Index closed at 42,458.14 points, down by 67.81 points (-0.16 per cent DoD). Sectors contributing to the performance include Cement (-39.7 points), Technology (-28.2 points), E&P’s (-21.4 points), OMC’s (-18.7 points) and Pharma (-11.6 points).

    READ MORE: Pakistan stocks fall 364 points on dollar flight

    Volumes decreased from 300.6 million shares to 266.1 million shares (-11.5 per cent DoD). Average traded value also decreased by 10.6 per cent to reach US$ 40.0 million as against US$ 44.7 million.

    Stocks that contributed significantly to the volumes are PRL, TPLP, CNERGY, GGL and UNITY.

    READ MORE: Weekly Review: falling rupee remains concern for stock market

  • Pakistan stocks gain 749 points on hopes of IMF program

    Pakistan stocks gain 749 points on hopes of IMF program

    KARACHI: Pakistan stocks gained 749 points on Tuesday on expectations of resumption of loan program of International Monetary Fund (IMF).

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,526 points from previous day’s closing of 41,777 points, showing a gain of 749 points.

    READ MORE: Pakistan stocks fall 364 points on dollar flight

    Analysts at Arif Habib Limited said that bulls triumphed the trading session at PSX on Tuesday June 21, 2022.

    KSE-100 index remained in the green zone throughout the day as value buying was witnessed across the board.

    “The investors gained confidence in expectation of resumption of the IMF Program,” they added.

    READ MORE: Weekly Review: falling rupee remains concern for stock market

    Volumes remained healthy in the main board.

    Sectors contributing to the performance include Technology (+136.6 points), E&P’s (+95.2 points), Cement (85.9 points), Banks (+76.3 points) and Fertilizer (+72.2 points).

    READ MORE: Pakistan stocks gain 411 points in bull-run

    Volumes increased from 162.1 million shares to 300.6 million shares (+85.4 per cent DoD). Average traded value also increased by 92.9 per cent to reach US$ 44.8 million as against US$ 23.2 million.

    Stocks that contributed significantly to the volumes are TPLP, PRL, CNERGY, HUMNL and UNITY.

    READ MORE: Pakistan stocks up 291 points on fiscal consolidation

  • Pakistan stocks fall 364 points on dollar flight

    Pakistan stocks fall 364 points on dollar flight

    KARACHI: Pakistan stocks fell 364 points on Monday owing to continuous dollar high flight against Pakistan Rupee (PKR).

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,777 points from last Friday’s closing of 42,141 points, showing a decline of 364 points.

    READ MORE: Weekly Review: falling rupee remains concern for stock market

    Analysts at Arif Habib Limited said that the market observed a negative session today as US Dollar continued its flight against PKR.

    The exchange rate recorded a fall of Rs1.21 in rupee value to end at fresh record low at Rs209.96 to the dollar from last Friday’s closing of Rs208.75, in the interbank foreign exchange market.

    READ MORE: Dollar hits historic high against rupee, ends near Rs210

    Investor’s participation lingered in the lackluster zone over concerns of resumption of IMF program. Volumes remained dry in the main board whereas hefty volumes were witnessed in the 3rd tier stocks.

    Sectors contributing to the performance include Cement (-70.7 points), Technology (-62.7 points), Power (-50.7 points), Banks (-37.1 points) and E&P’s (-32.9 points).

    READ MORE: Pakistan stocks gain 411 points in bull-run

    Volumes decreased from 282.9 million shares to 162.1 million shares (-42.7 per cent DoD). Average traded value also decreased by 45.8 per cent to reach US$ 23.4 million as against US$ 43.1 million.

    Stocks that contributed significantly to the volumes are TPLP, WTL, PRL, CNERGY and UNITY.

    READ MORE: Pakistan stocks up 291 points on fiscal consolidation

  • Weekly Review: falling rupee remains concern for stock market

    Weekly Review: falling rupee remains concern for stock market

    KARACHI: The massive depreciation of Pakistan Rupee (PKR) will remain major concern for investors of the Pakistan Stock Exchange (PSX) during the next week.

    However, positive news such as compliance of FATF conditions by Pakistan and some revenue measures taken by the government to satisfy the IMF would send positive sentiments for the market.

    READ MORE: Pakistan stocks gain 411 points in bull-run

    Analysts at Arif Habib Limited said that in the outgoing week, the market opened on a negative note amid concerns over the dissatisfaction expressed by IMF upon measures taken in Federal Budget 2022-23, whereby the market plunged by 1,135points DoD.

    After the bloodbath, the market sentiment turned positive amid the expectation of the exclusion of Pakistan from FATF’s grey list. Moreover, the investors remained elated owed to the news flow regarding China agreeing to roll over loans worth USD 2.3 billion to Pakistan and extending further assistance by USD 2.5 billion to USD 2.8 billion.

    Furthermore, the government increased the prices of petrol and high speed diesel by Rs24.03/ltr and Rs59.16/ltr, respectively, while completely eliminating the remaining subsidies, fulfilling one of the major conditions of IMF.

    READ MORE: Pakistan stocks up 291 points on fiscal consolidation

    However, the rupee continued to plummet throughout the week against the USD, closing at PKR 208 (lowest level ever) while SBP reserves dropped to a staggering USD 8.99 billion. The market closed at 42,141 points, up by 126 points (up by 0.3 per cent) WoW.

    Sector-wise positive contributions came from i) E&P (116 points), ii) Cement (90 points), iii) OMC (80 points), iv) Power Generation (56 points), and v) Engineering (51 points). Whereas, sectors which contributed negatively were i) Commercial Banks (263 points), ii) Chemical (34 points) and iii) Technology (33 points). Scrip-wise positive contributors were HUBC (51 points), PSO (50 points), POL (36 points), PPL (32 points) and OGDC (31 points). Meanwhile, scrip-wise negative contribution came from UBL (75 points), MEBL (71 points), BAHL (46 points), MCB (44 points) and SCBPL (34 points).

    READ MORE: Pakistan stocks up 384 points ahead FATF decision

    Foreign selling was witnessed this week, clocking in at USD 1.91 million compared to a net sell of USD 0.42 million last week. Major selling was witnessed in Banks (USD 1.4 million) and Fertilizer (USD 1.1 million). On the local front, buying was reported by companies (USD 10.5 million) followed by individuals (USD 5.8 million). Average volumes clocked in at 174 million shares (up 3 per cent WoW) while average value traded settled at USD 25 million (up 16 per cent WoW).

    READ MORE: Pakistan stocks recover 175 points

  • Pakistan stocks gain 411 points in bull-run

    Pakistan stocks gain 411 points in bull-run

    KARACHI: Pakistan stocks gained 411 points on Friday as bulls dominated the market on expectation of positive reports from the Financial Action Task Force (FATF).

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,141 points as compared with last day’s closing of 41,730 points, showing a gain of 411 points.

    READ MORE: Pakistan stocks up 291 points on fiscal consolidation

    Analysts at Arif Habib Limited said that the bulls dominated the market throughout the day as Pakistan hopes to come off FATF grey list today.

    The FATF, a global watchdog for combatting money laundering and terrorist financing, is expected to announce today whether Pakistan will be removed or retained on its increased monitoring list, also known as the “grey list”, according to the analysts.

    READ MORE: Pakistan stocks up 384 points ahead FATF decision

    Investors opted for across the board buying as hefty volumes were witnessed in the main board along with side board stocks.

    Sectors contributing to the performance include E&P (+88.9 points), Banks (+82.7 points), Cement (+45.8 points), Chemical (+32.1 points) and Engineering (+29.6 points).

    READ MORE: Pakistan stocks recover 175 points

    Volumes increased from 162.2 million shares to 283.9 million shares (+75.1 per cent DoD). Average traded value also increased by 89.5 per cent to reach US$ 43.4 million as against US$ 22.9 million.

    Stocks that contributed significantly to the volumes are CNERGY, HUMNL, PRL, OBOYR1 and TPLP.

    READ MORE: Stocks plunge 1,135 points on adverse budget measures

  • Pakistan stocks up 291 points on fiscal consolidation

    Pakistan stocks up 291 points on fiscal consolidation

    KARACHI: Pakistan stocks ended up 291 points on Thursday as the government took further harsh measures for fiscal consolidation.

    The benchmark KSE-100 index of Pakistan Stock exchange (PSX) ended at 41,730 points from last day’s closing of 41,439 points, showing an increase of 291 points.

    READ MORE: Pakistan stocks up 384 points ahead FATF decision

    Analysts at Arif Habib Limited said that the PSX continued positive momentum as investors’ confidence got boosted as the government announced to further increase fuel prices in order to keep in line with the IMF Program.

    The KSE-100 Index stayed in green zone throughout the day. Activity remained healthy across the board as cement sector remained in the limelight due to price increase in the North region.

    READ MORE: Pakistan stocks recover 175 points

    Sectors contributing to the performance include E&P (+63.7 points), Power (+55.8 points), Cement (+53.7 points), Fertilizer (+49.3 points) and OMC’s (+35.4 points).

    READ MORE: Stocks plunge 1,135 points on adverse budget measures

    Volumes increased from 141.7 million shares to 162.2 million shares (+14.4 per cent DoD). Average traded value also increased by 0.3 per cent to reach US$ 23.0 million as against US$ 22.9 million.

    Stocks that contributed significantly to the volumes are WTL, OBOYR1, MLCF, PRL and CNERGY.

    READ MORE: Stocks gain 279 points on budgetary concessions

  • Pakistan stocks up 384 points ahead FATF decision

    Pakistan stocks up 384 points ahead FATF decision

    KARACHI: Pakistan stocks witnessed an increase of 384 points on Wednesday on expectations of coming out of grey list of FATF.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,439 points from previous day’s closing of 41,055 points, showing an increase of 384 points.

    READ MORE: Pakistan stocks recover 175 points

    Analysts at Arif Habib Limited said that bullish momentum was witnessed at PSX today due to expectation of Pakistan’s exclusion from the grey list of Financial Action Task Force (FATF).

    KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, cements and E&P sectors.

    READ MORE: Stocks plunge 1,135 points on adverse budget measures

    Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed hefty volumes.

    The Index closed at 41,438.79 points, up by 384.11 points (+0.94 per cent DoD). Sectors contributing to the performance include Cement (+73.6 points), Banks (+70.6 points), Fertilizer (+70.0 points), E&P (+54.7 points) and Power (+34.5 points).

    READ MORE: Stocks gain 279 points on budgetary concessions

    Volumes increased from 120.1 million shares to 141.7 million shares (+18.0 per cent DoD). Average traded value also increased by 41.6 per cent to reach US$ 23.1 million as against US$ 16.3 million.

    Stocks that contributed significantly to the volumes are TPLP, BGL, PRL, WTL and SNGP.

    READ MORE: Pakistan stocks gain 183 points on rupee appreciation

  • Pakistan stocks recover 175 points

    Pakistan stocks recover 175 points

    KARACHI: Pakistan stocks recovered 175 points on Tuesday after a massive decline of 1,135 points recorded a day earlier.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,055 points from previous day’s closing of 40,880 points, showing a gain of 175 points.

    READ MORE: Stocks plunge 1,135 points on adverse budget measures

    Analysts at Arif Habib Limited said that positive session was observed at PSX today due to expectations of Pakistan’s exclusion from the grey list of Financial Action Task Force (FATF).

    KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, E&P and Cement sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed healthy volumes.

    READ MORE: Stocks gain 279 points on budgetary concessions

    Sectors contributing to the performance include Banks (+52.6 points), E&P (+43.2 points), OMC’s (+32.1 points), Technology (+28.4 points) and Fertilizer (+15.6 points).

    READ MORE: Pakistan stocks gain 183 points on rupee appreciation

    Volumes decreased from 163.8 million shares to 120.1 million shares (-26.7 per cent DoD). Average traded value also decreased by 22.7 per cent to reach US$ 16.6 million as against US$ 21.5 million.

    Stocks that contributed significantly are UNITY, KEL, HUMNL, PRL and TPLP.

    READ MORE: Stocks remain volatile on expected harsh measures

  • Stocks plunge 1,135 points on adverse budget measures

    Stocks plunge 1,135 points on adverse budget measures

    KARACHI: Pakistan stocks plunged 1,135 points on Monday owing to concerns over measures taken in the budget 2022/2023.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,880 points from last Friday’s closing of 42,015 points, showing a decline of 1,135 points.

    READ MORE: Stocks gain 279 points on budgetary concessions

    Analysts at Arif Habib Limited said that the PSX witnessed a bloodbath session today due to high inflationary and post-budget concerns.

    The KSE-100 index plunged by over 1,179 points as investors were unable to digest the adverse measures announced in the budget.

    Moreover, Pakistan rupee (PKR) continued to decline against US dollar. Banking sector stayed in the red zone due to harsh taxation imposed in the budget. Institutional investors remained on the sell-side due to redemptions arising from the mutual funds.  

    READ MORE: Pakistan stocks gain 183 points on rupee appreciation

    Sectors contributing to the performance include Banks (-481.9 points), E&P (-134.9 points), Cement (-97.5 points), Technology (-96.6 points) and Fertilizer (-74.9 points).

    READ MORE: Stocks remain volatile on expected harsh measures

    Volumes increased from 115.9 million shares to 163.8 million shares (+41.4 per cent DoD). Average traded value also increased by 41.8 per cent to reach US$ 21.4 million as against US$ 15.1 million.

    Stocks that contributed significantly to the volumes are HUMNL, CNERGY, KEL, UNITY and PRL.

    READ MORE: Pakistan stocks end flat as investors eyeing budget