Category: Stock & Commodity

KARACHI: Pakistan stocks ended flat on Tuesday as investors are waiting for federal budget announcement, which is scheduled on June 10, 2022.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,568 points from previous day’s closing of 41,577 points, showing decline of nine points.

READ MORE: Pakistan stocks gain 262 points in mixed trading

Analysts at Topline Securities said that Pakistan equities witnessed a mix trend today as all eyes are now on the upcoming budget.

Investors opted to stay sidelines which compelled benchmark index to slide. During the day, the KSE 100 index made an intraday low at 41,524 (-53 points; down 0.12 per cent) and an intraday high at 41,854 (+277 points; up 0.66 per cent) before eventually settled at 41,568 (-9 points; down 0.02 per cent) for the day.

READ MORE: Weekly Review: stocks to move with budget reports

Banks, Tech, Food and Power sector’s stocks contributed negatively today to the benchmark index where HBL, TRG, UNITY & HUBC lost 57 points, cumulatively. On the flip side, NML, SNGP & MARI have seen some buying interest as they added 44 points collectively today.

Around 157 million shares traded today at the bourse while total value clocked in at Rs4.2 billion. TPLP was the volume leader of the day with trading of 17 million shares in it, today.

READ MORE: Pakistan stocks plunge by 923 points on fiscal weakness

Analysts at Arif Habib Limited said that a range-bound session was observed at PSX today given further devaluation of PKR against USD tagged with concerns of new taxes in the upcoming budget, keeping the investors at bay. The volumes remained dry in the main board although 3rd tier stocks continued positive momentum.

Sectors contributing to the performance include Banks (-21.0 points), Technology (20.5 points), Power (-13.1 points), Vanaspati & Allied (-11.9 points) and Investment Banks (-8.7 points).

READ MORE: Stocks shed 518 points on monetary tightening concerns

Volumes decreased from 189.2 million shares to 157.4 million shares (-16.8 per cent DoD). Average traded value also decreased by 13.8 per cent to reach US$ 20.8 million as against US$ 24.2 million.

Stocks that contributed significantly to the volume are TPLP, UNITY, PRL, OBOYR1 and SNGP.

KARACHI: Pakistan stocks gained 262 points on Monday after witnessing a mixed trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,577 points as compared with last Friday’s closing of 41,315 points, showing an increase of 262 points.

READ MORE: Weekly Review: stocks to move with budget reports

Analysts at Topline Securities said that Pakistan equities closed on a green note where benchmark KSE-100 Index settled at 41,577 Level (up 0.63 per cent).

During the day, the KSE-100 index made an intraday low at 282 points. However, value hunting kicked in at the aforesaid level which assisted benchmark index to show some recovery which led to make an intraday high of 360 points.

READ MORE: Pakistan stocks plunge by 923 points on fiscal weakness

Initial positivity came from Cement sector as cement prices in the South region have increased by Rs25/bag (effective from June 6, 2022) where LUCK, MLCF,DGKC, KOHC closed higher.

Further investors’ interest also witnessed E&Ps sector where PPL, OGDC and SNGP closed higher as news flows suggest that OGRA has raised gas prices for SNGPL & SSGC by 45 per cent & 44 per cent.

READ MORE: Stocks shed 518 points on monetary tightening concerns

Around 186.31 million shares traded today at the bourse while total value clocked in at Rs4.9 billion. UNITY was the volume leader of the day with trading of 33.13 million shares in it, today.

READ MORE: Pakistan stocks shed 322 points on budgetary concerns

KARACHI: Pakistan stocks likely to move with report of federal budget 2020-2023, which is scheduled to be presented on June 10, 2022.

Analysts at Arif Habib Limited said that the market is expected to remain range bound given Federal Budget 2022-2023 is anticipated to be announced on June 10, 2022.

READ MORE: Pakistan stocks plunge by 923 points on fiscal weakness

“The outcome of the budget presented will determine the market direction in the future,” the analysts said.

Moreover, the government may opt to roll-back the remaining subsidy on petrol and diesel next week, which may further ignite inflationary concerns.

All said, one positive development which market be looking forward to is the inflow from Chinese banks (about $2.3 billion) which, according to Finance Minister, is due shortly.

READ MORE: Stocks shed 518 points on monetary tightening concerns

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2022) compared to Asia Pacific regional average of 12.4x while offering a dividend yield of 9.6 per cent versus 2.7 per cent offered by the region.

Following  the decision of partial removal of subsidy on petrol and diesel, increasing the prices by PKR 30/liter each, market commenced on a positive note this week on hopes of resumption of IMF as these measures are deemed to be a pre-requisite for the Fund’s approval for seventh review.

READ MORE: Pakistan stocks shed 322 points on budgetary concerns

As a result, Pak Rupee staged a recovery against the greenback (closing at PKR 197.92 this week). However, concerns over inflation (which reached a 28-month high of 13.8 per cent in May 2022) and uptick in government securities yields in T-Bill auction, dampened the sentiment at the index.

Moreover, the jump in National Saving Schemes (NSS) rate (150bps) and the expected hike in power prices (PKR 7.91/unit) sent alarm bells ringing.

Meanwhile, the last trading saw panic at the local bourse after Moody’s Investors Service downgraded Pakistan’s outlook from stable to negative while the announcement of another PKR 30/liter fueled inflationary concerns.

READ MORE: Stocks remain range bound on high inflation concerns

The market closed at 41,315 points, shedding 1,547 points (down by 3.6 per cent) WoW.

Sector-wise negative contributions came from i) Commercial Banks (363 points), ii) Cement (309 points), iii) Fertilizer (163 points), iv) Technology & Communication (124 points), and v) Chemical (93 points).

Whereas, sectors which contributed positively was Vanaspati & Allied Industries (1 points). Scrip-wise negative contributors were LUCK (141 points), HBL (129 points), FFC (87 points), TRG (68 points) and EPCL (55 points). Meanwhile, scrip-wise positive contribution came from POL (13 points), ABOT (10 points), MARI (9 points), SCBPL (6 points) and COLG (6 points).

Foreign selling was witnessed this week, clocking in at $ 0.42 million compared to a net sell of $ 1.51 million last week. Major selling was witnessed in Banks ($ 4.2 million) and Cement ($ 0.4 million).

On the local front, buying was reported by individuals ($ 5.6 million) followed by Companies ($ 5.6 million). Average volumes clocked in at 210 million shares (down 25 per cent WoW) while average value traded settled at $ 30 million (down 23 per cent WoW).

KARACHI: Pakistan stocks plunged by 923 points on Friday owing to weakening fiscal condition and concerns of further monetary tightening.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,315 points from previous day’s closing of 42,238 points, showing a decline of 923 points.

READ MORE: Stocks shed 518 points on monetary tightening concerns

Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed yet another bloodbath session today due to monetary tightening and inflationary concerns.

The market opened in the negative zone and remained under pressure throughout the day as investors opted for profit selling over uncertain economic scenarios.

READ MORE: Pakistan stocks shed 322 points on budgetary concerns

The volumes remained dull across the board on the contrary hefty volumes were observed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (-176.8 points), Cement (-131.7 points), Fertilizer (-96.4 points), Technology (-79.5 points) and E&P’s (-71.1 points).

READ MORE: Stocks remain range bound on high inflation concerns

Volumes increased from 157.0 million shares to 225.4 million shares (+43.6 per cent DoD). Average traded value also increased by 13.3 per cent to reach $30.3 million as against $26.7 million.

Stocks that contributed significantly to the volumes are KEL, PRL, CNERGY, PAEL and PIBTL.

READ MORE: Pakistan stocks gains 179 points on rupee appreciation

KARACHI: Pakistan stocks ended down by 518 points on Thursday owing to rising concerns of further monetary tightening.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,238 points from previous day’s closing of 42,756 points in interbank foreign exchange market, showing a decline of 518 points.

READ MORE: Pakistan stocks shed 322 points on budgetary concerns

Analysts at Arif Habib Limited said that the the market continued selling momentum from the previous session as rise in 3 months Treasury-Bills yields went up by 75 basis points to 15.25 per cent which raised concerns over a possible hike in the policy rate.

It is pertinent to mention that the State Bank of Pakistan (SBP) in its latest monetary policy announcement on May 23, 2022 raised the policy rate by 150 basis points to 13.75 points.

READ MORE: Stocks remain range bound on high inflation concerns

The KSE-100 index made an intraday low of 623 points as selling pressure was witnessed across the board. Volumes remained dull although 3rd tier stocks were in the limelight.

Sectors contributing to the performance include Banks (-105.8 points), Fertilizer (-66.8 points), Cement (-62.3 points), Technology (-48.7 points) and Chemicals (-45.8 points).

READ MORE: Pakistan stocks gains 179 points on rupee appreciation

Volumes decreased from 194.4 million shares to 157.0 million shares (-19.2 per cent DOD). Average traded value also decreased by 1.2 per cent to reach US$ 26.8 million as against US$ 27.1 million.

Stocks that contributed significantly to the volume are PRL, UNITY, CNERGY, SILK and WTL.

READ MORE: Weekly Review: Market likely jittery on political uncertainty

KARACHI: Pakistan stocks ended down by 322 points on Wednesday over expectations of adverse budgetary measures.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,756 points from previous day’s closing of 43,078 points, showing a decline of 322 points.

READ MORE: Stocks remain range bound on high inflation concerns

Analysts at Arif Habib Limited said that the market remained under pressure as investors remained stagnant over expectations of an adverse budget announcement.

The KSE-100 plunged to 354 points as selling pressure was witnessed across the board as concerns over increasing inflation kept the investors at bay.

READ MORE: Pakistan stocks gains 179 points on rupee appreciation

Main board activities remained dull on the contrary hefty volumes were observed in the 3rd tier stocks.

The Index closed at 42,756.04 points, down by 322.10 points (-0.75 per cent DOD). Sectors contributing to the performance include Power (-67.8 points), Banks (-65.7 points), Cement (-55.2 points), Technology (-41.1 points) and E&P’s (-32.4 points).

READ MORE: Weekly Review: Market likely jittery on political uncertainty

Volumes decreased from 285.3 million shares to 194.4 million shares (-31.9 per cent DOD). Average traded value also decreased by 27.6 per cent to reach $ 27.0 million as against $ 37.3 million.

Stocks that contributed significantly to the volumes are SILK, UNITY, GGL, PRL and FFL.

READ MORE: Bulls dominate Pakistan stocks on POL price increase

KARACHI: Pakistan stocks gained 38 points in range bound trading activity on Tuesday due to concerns of high inflation and tightening of money supply.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,078 points from previous day’s closing of 43,040 points, showing a gain of 38 points.

READ MORE: Pakistan stocks gains 179 points on rupee appreciation

Analysts at Arif Habib Limited said that the market remained range bound throughout the day, due to concerns over rising inflation number and tightening of money supply.

The benchmark KSE-100 index opened in the positive zone but lackluster activity was witnessed during the day.

READ MORE: Weekly Review: Market likely jittery on political uncertainty

Volumes remained dry in the main board although hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include Power (+64.2 points), E&P’s (+56.8 points), Technology (+21.7 points), Autos (+20.1 points) and Fertilizer (+16.4 points).

READ MORE: Bulls dominate Pakistan stocks on POL price increase

Volumes increased from 187.5 million shares to 285.3 million shares (+52.2 per cent DOD). Average traded value also decreased by 20.7 per cent to reach US$ 37.2 million as against US$ 30.8 million.

Stocks that contributed significantly to the volumes are SILK, PIBTL, PRL, PAEL and WTL.

READ MORE: Stocks end up 529 points as political tensions ease

KARACHI: Pakistan stocks gained 179 points on Monday owing to appreciation in rupee value against the dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,040 points from last Friday’s closing of 42,861 points, showing an increase of 179 points.

READ MORE: Weekly Review: Market likely jittery on political uncertainty

Analysts at Arif Habib Limited said that the market opened in the positive zone and remained green throughout the day in expectations of resumption of loan program under Extended Fund Facility (EFF) of International Monetary Fund (IMF) in June 2022 which also help the rupee getting stronger against US Dollar.

READ MORE: Bulls dominate Pakistan stocks on POL price increase

Main board activity remained healthy in E&P and OGDC remained in limelight as expectation of nod from ECC to convert OGDC receivable from PHLP into Pakistan Investment Bonds. Although good volumes were witnessed in 3rd tier stocks.

Sectors contributing to the performance include E&P’s (+79.4 points), OMCs (+24.8 points), Technology (+23.2 points), Autos (+20.1 points) and Banks (+13.5 points).

READ MORE: Stocks end up 529 points as political tensions ease

Volumes decreased from 527.7 million shares to 187.5 million shares (-64.5 per cent DOD). Average traded value also decreased by 56.2 per cent to reach US$ 30.7 million as against US$ 70.2 million.

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

READ MORE: Stocks witness bearish trend on rising political noise

KARACHI: In the upcoming week, the market may remain jittery due to political strains, as PTI has given six days to the Government to announce elections, analysts at Arif Habib Limited said.

However, it appears that the government’s removal of the subsidy on fuel and electricity will gain IMF approval.

Once the package comes through, other sources of FX should also open up, which will be a positive for the market.

READ MORE: Bulls dominate Pakistan stocks on POL price increase

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.3x (2022) compared to Asia Pac regional average of 12.3x while offering a dividend yield of 9.2 per cent versus 2.7 per cent offered by the region.

In the outgoing week the market opened on a negative note, due to uncertainty over the outcome of the IMF program and the Monetary Policy Committee (MPC) meeting where the State Bank of Pakistan (SBP) decided to hike the policy rate by 150 basis points.

Consequently, this put pressure on the rupee which hit an all-time low of PKR 202/USD.

READ MORE: Stocks end up 529 points as political tensions ease

On the political front tensions were high as PTI marched toward the capital, adding more pressure to the market.

However, things turned for the better when the ex-PM Imran Khan decided to come back after 6 days.

Investor confidence was revived towards the end of the week when the government decided to hike petroleum prices by PKR 30/liter, paving the way for the resumption of the IMF program and other avenues of foreign funding. In other news, Saudi Arabia is in the final stages of extending the USD 3 billion deposit to Pakistan, and ADB is set to fund projects worth USD 2 billion.

READ MORE: Stocks witness bearish trend on rising political noise

The market closed in red at 42,861 points, shedding 239 points (down by 0.6 per cent) WoW.

Sector-wise negative contributions came from i) Fertilizer (132 points), ii) Commercial Banks (76 points), iii) Cement (56 points), iv) Oil & Gas Exploration Companies (41 points), and v) Power Generation & Distribution (29 points).

Whereas, sectors which contributed positively were i) Technology & Communication (66 points), ii) Refinery (40 points), iii) Automobile Assembler (32 points), iv) Oil & Gas Marketing Companies (15 points), and v) Food & Personal Care Products (14 points).

Scrip-wise negative contributors were FFC (63 points), EFERT (57 points), LUCK (48 points), HUBC (39 points) and OGDC (30 points). Meanwhile, scrip-wise positive contribution came from TRG (64 points), MTL (34 points), HBL (30 points), AVN (23 points) and CNERGY (19 points).

Foreign selling was witnessed this week, clocking in at USD 1.5 million compared to a net sell of USD 6.1 million last week. Major selling was witnessed in Cement (USD 1.8 million) and Banks (USD 1.4 million).

READ MORE: Pakistan stocks shed 490 points on political uncertainty

On the local front, buying was reported by individuals (USD 11.0 million) followed by Brokers Proprietary Trading (USD 2.9 million). Average volumes clocked in at 281 million shares (up by 27 per cent WoW) while average value traded settled at USD 39 million (up by 26 per cent WoW).