KARACHI: The stock market fell by 39 points on Monday in lackluster trading activity during the day. The benchmark KSE-100 index of thePakistan Stock Exchange (PSX)closed at 46,918 points from last Friday’s closing of 46,957 points.
Analysts at Topline Securities said that a lackluster session was observed at the bourse during the day.
To note, concerns regarding a ballooning trade deficit number coupled with a potential reclassification of Pakistan from the MSCI Emerging Market Index to the MSCI Frontier Market Index kept the investors at bay.
On the results front, FCCL announced its FY21 EPS of 2.52 as compared to an LPS of (0.04) in the corresponding period last year. However, the stock succumbed to selling pressure as investors seemed disappointed over no payout after which the stock closed at Rs19.50 (down 2.69 per cent).
Volumes continued to remain depressed as the total volume for the KSE 100 Index clocked in at 94.25 million shares while the total turnover in the KSE All Share Index was recorded at 416.15 million shares.
The volume leader in today’s session was TPL with 59.66 million shares exchanging hands.
KARACHI: The stock market is likely to witness range-bound activities during next week. The analysts said that the current account deficit may be a major concern for the investors.
The analysts at Arif Habib Limited said that the concerns persist over how manageable the deficit on the current account may be.
However, the IMF review may note some positive progress especially on the back of impressive recent tax numbers for July-August (23 percent higher than the target).
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.9x (2021) compared to the Asia Pac regional average of 14.5x while offering a dividend yield of 7.0 percent versus 2.2 percent offered by the region.
The domestic bourse closed in red this week primarily on account of augmenting concerns on the external account. As per media reports, imports clocked in at PKR 6.3bn for Aug’21 taking the trade deficit to Rs4 billion, which is the highest ever for a single month. The local currency has continued to slide downwards with the PKR/USD settling at 166.9. Meanwhile, the cement sector has also seen pressure this week with coal prices continuing to soar. The index closed at 46,957 points, down 179 points WoW.
Sector-wise negative contributions came from i) Commercial Banks (301 points), ii) Cement (100 points), iii) Automobile Assembler (77 points), iv) Textile composite (20 points), and v) Oil & Gas Marketing Companies (19 points).
Whereas sectors which contributed positively were i) Technology & Communication (176 points), ii) Power Generation & Distribution (77 points) and iii) Refinery (51 points). Scrip-wise negative contributors were HBL (105 points), MEBL (80 points), UBL (63 points), MCB (48 points) and MLCF (24 points). Meanwhile, scrip-wise positive contributions came from SYS (141 points), HUBC (82 points), and TRG (33 points).
Foreign selling continued this week, settling at USD 5.9 million against a net sell of USD 5.4 million last week. Selling was witnessed in Commercial Banks (USD 4.3 million), Cement (USD 1.3 million), and Exploration and Production (USD 0.8 million).
On the domestic front, major buying was reported by Individuals (USD 5.1 million) and Insurance Companies (USD 4.0 million).
Average volumes clocked in at 462 million shares (up by 20 percent WoW) while average value traded settled at USD 83 million (up by 5 percent WoW).
KARACHI: The share market gained 54 points on Friday, September 3, 2021, amid mixed trading activities during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,957 points as against previous day’s closing of 46,903 points, showing an increase of 54 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range today between -24 points and +210 points.
Stocks including banks, oil and gas chain, cement bore selling pressure whereas technology, fertilizer, and sideboard scrips helped post an uptick in the index.
Redemption at Mutual funds’ end kept the pressure on the Index after a net sell of $ 5.5 million yesterday. Among scrips, SERFR posted trading volumes of 83.1 million shares, followed by WTL (50.2 million) and TELE (37.6 million).
Sectors contributing to the performance include Autos (22 points), E&P (-17 points), Technology (+77 points), Power (+13 points) and Fertilizer (+12 points).
Volumes declined from 544.4 million shares to 465 million shares (-15 per cent DoD). The average traded value also declined by 24 per cent to reach US$ 73.3 million as against US$ 96.2 million.
Stocks that contributed significantly to the volumes include SERFR, WTL, TELE, GGL, and BYCO, which formed 49 per cent of total volumes.
Stocks that contributed positively to the index include SYS (+73 points), HUBC (+14 points), MCB (+13 points), ABOT (+10 points) and MEBL (+9 points). Stocks that contributed negatively include HBL (-18 points), PPL (-9 points), MTL (-8 points), INDU (-8 points) and NBP (-6 points).
The SECP has been constantly clarifying that mere registration of a company, does not authorize it to solicit deposits from the general public or offer investment schemes.
It has been observed recently that a company namely “Econex Sales and Marketing (Private) Limited” is offering various packages to attract the public to its unlawful business activities of multi-level marketing (MLM) and referral marketing.
The said company is using its registration status with SECP to win public confidence, deceptively implying that such activities are being undertaken through SECP’s regulated platform.
As clearly provided in the explanation of section 301 of the Companies Act, 2017, raising unauthorized deposits from the general public, indulging in referral marketing, MLM, Pyramid, and Ponzi Schemes are unlawful activities in terms of explanation of section 301 of the Companies Act, 2017.
The SECP, in accordance with the provisions of the Companies Act, has initiated necessary legal action against M/s Econex Sales and Marketing (Private) Limited.
In view of the foregoing, the general public is hereby expressly advised in their own interest to be careful, not to invest their hard-earned money or indulge in illegal schemes launched by this company, actively being propagated through social media accounts and pages.
The same caution may be exercised in the case of any other company involved in any illegal deposit-taking, unauthorized investment, or MLM schemes.
KARACHI: Kohinoor Textile Mills Limited (KTML) on Thursday shared information disclosing that its senior management has avail an amnesty scheme of undeclared foreign assets.
Following is shareholding detail prior to the declaration by virtue of the Declaration Act:
01. Taufique Sayeed Saigol, Chief Executive Officer/Director, shareholding in KTML is 43,425,059, the percentage of paid up capital is 14.51 per cent.
02. Mrs. Shehla Tariq Saigol, substantial shareholder, shareholding in KTML is 30,377,143, the percentage of paid-up capital is 10.51 per cent.
Further, the above shareholders of KTML are indirectly ultimate beneficial owners in the proportion of 50 per cent each in the following two foreign companies which are also substantial shareholders of KTML as under:
01. Mercury Management Inc., BVI (MMI), substantial shareholder, shareholding in KTML is 73,390,890, percentage of paid-up capital is 24.52 per cent.
02. Hutton Properties Limited, BVI (HPL), substantial shareholder, shareholding in KTML is 49,639,992, percentage of paid-up capital is 16.59 per cent.
Accordingly, it is notified that, pursuant to the Declarations made under the Declaration Act, their aggregate shareholding in KTML is as under:
The shareholding of Taufique Sayeed Saigol, Chief Executive Officer / Director in KTML after including assets declared under amnesty scheme increased to 106,940,503 or percentage of share capital in KTML increased to 35.06 per cent.
Similarly, the shareholding of Mrs. Shehla Tariq saigol, a substantial shareholder in KTML after including assets declared under the amnesty scheme increased to 91,892,587 or percentage of share capita in KTML increased to 30.70 per cent.
The communication sent to the PSX, the company said: “In accordance with the highest legal ethical standards and acting out of abundant caution in a wholly precautionary way, the above-named shareholders have declared their proportionate shares of indirect shareholding ownership held in KTML through MMI and HPL managed by Saim Family Trust, a Settler Reserved Discretionary Trust.”
Assets held and controlled by this Discretionary Trust would only be available to the beneficiaries at the discretion of the trustees, whenever distributed, it added.
“It is clearly stated that such assets are not yet distributed by the Trustees.”
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 510 points on Thursday. The index fell owing to profit booking during the day.
Analysts at Arif Habib Limited said that the market saw a draw-down of 539 points during the session, which came in the backdrop of depreciating rupee, rising costs of commodities (particularly coal for Cement) and redemption calls at mutual funds end.
The cement sector saw significant selling pressure followed by Banks and Technology stocks due to cost pressures and limited flexibility to pass on the costs.
Weak investor sentiment as evident from longer than anticipated consolidation of the KSE-100 benchmark made even the depreciating rupee a negative factor for Technology, Textile, and E&P stocks, which would otherwise benefit.
Among scrips, GGL topped the volumes with 57.9 million shares, followed by WTL (53.3 million) and ANL (42.1 million).
Sectors contributing to the performance include Banks (-138 points), Cement (-125 points), Fertilizer (-43 points), E&P (-38 points) and Technology (-32 points).
Volumes increased from 536.6 million shares to 544.4 million shares (+1 percent DoD). The average traded value also increased by 12 percent to reach US$ 96.2 million as against US$ 8.1 million.
Stocks that contributed significantly to the volumes include GGL, WTL, ANL, SERFR, and TELE, which formed 41 percent of total volumes.
Stocks that contributed positively to the index include NRL (+8 points), PSX (+7 points), ATRL (+7 points), BYCO (+6 points), and MARI (+4 points). Stocks that contributed negatively include UBL (-41 points), HBL (-40 points), LUCK (-36 points), MCB (-30 points) and CHCC (-25 points).
KARACHI: InfraZamin Pakistan Limited (InfraZamin) and ITMinds Limited (ITMinds), a wholly-owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL), have signed an agreement enabling ITMinds to provide Back Office Accounting Services to InfraZamin.
The agreement was signed by Ms. Maheen Rahman CEO-InfraZamin, and Iqleem-uz-Zaman Khan CEO-ITMinds in the presence of Badiuddin Akber Director-ITMinds and CEO-CDCPL, Waqas Ashraf CFO- ITMinds, Khusro Iqbal Mumtaz Chief Risk Officer-InfraZamin and other management team members from both sides.
InfraZamin is licensed to act as an investment finance company and is an initiative by the Private Infrastructure Development Group (PIDG), including PIDG group companies InfraCo Asia Investments (InfraCo Asia) and GuarantCo Limited (GuarantCo), in partnership with non-profit Karandaaz Pakistan (Karandaaz) to establish a for-profit, credit enhancement facility for raising infrastructure-related debt in Pakistan.
Commenting on the occasion, Ms. Maheen Rahman CEO InfraZamin, said that we look forward to working with IT Minds under this arrangement which will enable the InfraZamin team to focus on our core business function of credit guarantees.
Also commenting on the occasion, Badiuddin Akber, Director ITMinds & CEO-CDCPL, said that considering this is an era of specialization, we have commissioned ITMinds with an aim to enable asset management companies, investment finance companies, and other organizations to outsource their back-office functions to a competent and reliable BPO partner, thus relieving them to focus on their core businesses for their commercial success while achieving efficiency, scalability & transparency of processes.
Analysts at Arif Habib Limited said that the first day of the month saw range-bound activity with sideboard scrips performing better than blue chips.
The index swayed +209 points and -65 points. Volumes and price-performance were witnessed in TPLP, TELE, WTL, and HUMNL out of which TPLP and TELE hit upper circuits and maintained that level till closing.
Banks, Cement, Fertilizer, Power and Refinery sectors ended the session in red, whereas Technology sector led the Index. Among scrips, WTL topped the volumes with 162.2 million shares, followed by TELE (45.1 million) and GGL (31.5 million).
Sectors contributing to the performance include Banks (-33 points), Cement (-14 points), Autos (-12 points), Technology (+40 points), Engineering (+13 points), and Fertilizer (+12 points).
Volumes increased substantially from 378.8 million shares to 536.6 million shares (+41 percent DoD). The average traded value also increased by 2 percent to reach US$ 86.1 million as against US$ 84 million.
Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL, and TREET, which formed 52 percent of total volumes.
Stocks that contributed positively to the index include TRG (+29 points), LUCK (+12 points), FABL (+10 points), EPCL (+9 points), and ENGRO (+8 points). Stocks that contributed negatively include HBL (-18 points), MCB (-15 points), MEBL (-14 points), INDU (-11 points) and PSEL (-9 points).
KARACHI: The stock market gained 54 points on Tuesday in a range bound trading observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,420 points from the previous day’s closing of 47,366 points.
Analysts at Topline Securities said that a range-bound session was observed at the exchange today with the KSE 100 Index printing an intra-day high of 47,596 and an intra-day low of 47,349 points.
Major positive contributors in today’s session were namely SYS, MARI, LUCK, PAEL & PPL who cumulatively added 117 points to the benchmark index while POL, MEBL, BAHL, PSMC & PIOC dragged the KSE 100 index lower by 71 points.
On the results front, PSMC announced a disappointing 2QCY21 EPS of Rs5.09 after which the stock succumbed to selling pressure.
KOHC also announced its FY21 EPS of 17.41 as compared to a FY20 LPS (2.21).
Volumes continued to remain depressed with the total traded volume and value clocking in at 377.19 million shares and Rs13.97 billion, respectively.
The volume leader for today was TELE with 41.59 million shares traded during the session.
Analysts at Arif Habib Limited said that market performed well after closing the rollover week.
The ascent in international crude oil prices, due to hurricane IDA, helped propel Oil and Gas chain, particularly E&P stocks.
Power sector saw HUBCO coming to the fore on the back of declaration of healthy dividends.
Besides, cement, fertilizer, steel and technology stocks contributed positively to the Index. Banks, Autos and Textile sector saw continued profit booking.
Volumes remained virtually the same at 382.6 million shares against 382.3 million shares the other day. Average traded value declined by 8 per cent to reach US$ 74.3 million as against US$ 80.1 million.
Stocks that contributed significantly to the volumes include BYCO, GGL, WTL, YOUW and TELE, which formed 38 per cent of total volumes.
Stocks that contributed positively to the index include HUBC (+75 points), ENGRO (+31 points), OGDC (+26 points), PPL (+22 points) and TRG (+17 points). Stocks that contributed negatively include MEBL (-49 points), HBL (-38 points), MCB (-14 points), MARI (-11 points) and UBL (-10 points).
