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Category: Stock & Commodity

  • AHL declares Rs2.08 billion annual profit

    AHL declares Rs2.08 billion annual profit

    KARACHI: Arif Habib Limited (AHL) on Monday announced Rs2.08 billion as profit for the year ended June 30, 2021.

    The board of directors of the AHL approved the financial results for the year ended June 30, 2021.

    The company also declared a final cash dividend of Rs 10 per share i.e. 100 per cent, and bonus 10 per cent (i.e. 10 shares for every 100 shares held) for the year 2021.

    The company recorded the highest ever revenues in the history of brokerage, investment banking and money markets division; all combined have taken up AHL’s core income by Rs1,398 million.

    The brokerage division witnessed an increase of 132 per cent in revenue against the same period in the previous year.

    Investment Banking’s income increased massively by 633 per cent from Rs155 million to Rs672 million. This increase is attributable to successful completion of equity and debt IPOs.

    The Company’s investment portfolio has yielded healthy realized and unrealized revenue of Rs1,681 million against Rs228 million in the corresponding period.

    Commenting on the results, Shahid Ali Habib, CEO, AHL said: ‘’AHL’s growth momentum is outstanding and in line with our expectations. The phenomenal increase in revenue has been due to stellar performance across all business divisions and high volumes in the market. We foresee similar brokerage and investment banking performance in coming year as the economy grows and focus on capital market development intensifies.” 

    AHL, which led 8 of the 10 IPOs this year, has embarked upon expanding its footprint by establishing presence in other cities and increasing its client base both within Pakistan and abroad, which is expected to reap dividends by its shareholders in the future.

    AHL is pioneering the efforts of opening Roshan Digital Accounts (RDA) for Overseas Pakistanis that is bound to help Pakistan increase foreign investment flows and has maintained an average of 35 per cent of market share since RDA’s introduction in September.

  • Weekly Review: lockdown may impact trading sentiments

    Weekly Review: lockdown may impact trading sentiments

    KARACHI: The lockdown imposed by Sindh government may impact positive sentiments in the stock market. Analysts at Arif Habib Limited said that Karachi is set to observe a more stringent lockdown in place next week to contain the highly contagious delta variant of the novel coronavirus.

    It appears the market may remain upwards sticky in the short term.

    Albeit, with the result season commencing, and cyclicals expected to post a robust jump in earnings on a YoY basis (given a nation-wise lockdown was enforced in 2Q last year), certain select stocks may come under limelight.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2021) compared to Asia Pac regional average of 15.8x and offering a DY of 6.7 per cent versus 2.4 per cent offered by the region.

    The KSE-100 index remained under pressure for most part of the week, closing in red on 4 out of 5 sessions.

    Key sentiment dampener was the sharp incline in domestic COVID ratio with businesses asked to operate at 50 per cent workforce.

    Albeit, with no relief on the infection front, the Sindh government announced a complete lockdown in Karachi for the following week, causing the equity bourse to book further losses today.

    Although investors heaved a sigh of relief during mid-week with the Central Bank holding its benchmark policy rate at 7 per cent, which translated to buying in cement and steel scrips.

    That said, the market ended at 47,055.29 points (down by 1.54 per cent / -738 points WoW).

    Contribution to the downside was led by i) Cements (212 points), ii) Commercial Banks (178 points), iii) Oil and Gas Exploration Companies (58 points), iv) Pharmaceuticals (53 points), and v) Oil and Gas Marketing Companies (51 points). Scrip-wise major losers were LUCK (118 points), TRG (62 points), MCB (60 points), PSO (45 points), and HBL (44 points). Whereas, scrip-wise major gainers were SYS (67 points), FCEPL (43 points), HUBC (38 points), ANL (34 points) and MTL (21 points).  

    Foreigners offloaded stocks worth of USD 5.4 million compared to a net sell of USD 21.02 million last week. Major selling was witnessed in Commercial Banks (USD 2.94 million) and All other Sectors (USD 2.56 million). On the local front, buying was reported by Banks (USD 6.30 million) followed by Mutual Funds (USD 2.43 million).

    That said, average daily volumes and traded value for the outgoing week were up by 28 per cent and 14 per cent to 405 million shares and USD 81 million, respectively. 

  • Stocks tumble on enforcement of COVID lockdown

    Stocks tumble on enforcement of COVID lockdown

    KARACHI: The stock exchange ended down by 257 points on Friday after the Sindh government to impose strict lockdown to prevent spread of coronavirus.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,056 points as against previous day’s close of 47,312 points, showing a decline of 257 points.

    Analysts at Arif Habib Limited said that with the optimism of deferring the COVID lockdown, the market added 330 points earlier in the session today, however, government’s decision to impose strict lock down in the face of rising COVID cases eroded all the earlier gains and caused the Index to tumble.

    Banks, O&GMCs, Cement, Chemical, Refinery and Technology sectors bore the brunt of lockdown, whereas steel sector performed well due to announcement of price increase by flat steel manufacturers.

    Among scrips, WTL led the table with 39.2 million shares, followed by BYCO (38.4 million) and TELE (24.6 million).

    Sectors contributing to the performance include Technology (-54 points), Fertilizer (-45 points), Cement (-35 points), Banks (-27 points) and Textile (-17 points).

    Volumes increased from 376.4 million shares to 399.1 million (6 per cent DoD). Average traded value also increased by 12 per cent to reach US$ 84.8 million as against US$ 75.7 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, TELE, HUMNL and TPL, which formed 34 per cent of total volumes.

    Stocks that contributed positively to the index include EFERT (+12 points), MEBL (+11 points), PSX (+10 points), HMB (+9 points) and SCBPL (+8 points). Stocks that contributed negatively include TRG (-47 points), FFC (-44 points), HBL (-39 points), LUCK (-23 points) and PPL (-17 points).

  • Pakistan Stock Exchange imposes coronavirus restrictions

    Pakistan Stock Exchange imposes coronavirus restrictions

    KARACHI: The Pakistan Stock Exchange (PSX) has introduced strict Standard Operating Procedures (SOPs) for entry into its premises to curb the potential spread of the coronavirus pandemic.

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  • Stock market ends stable after early day losses

    Stock market ends stable after early day losses

    KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed selling and lost around 363 points. But it recovered by end of the day.

    The benchmark KSE-100 index closed at 47,312 points as against previous day’s close of 47,318 points, showing a decline of 6 points.

    Analysts at Arif Habib Limited said that the market lost another 363 points during the session today, however, covered a lot of ground and ended the session -6 points.

    Banks, E&P, Cement, Power and Technology sectors saw selling pressure on the concern of lockdown as well as rollover positions, whereby investors preferred selling in ready market and bought futures.

    LUCK saw abrupt movement where the stock price remained depressed the entire session, moved up in the half closing hour and saw a major sell-off in the closing minute to end at the lowest price of the session.

    Among scrips, WTL led the volumes with 49.5 million shares, followed by BYCO (47.1 million) and UNITY (16.1 million).

    Sectors contributing to the performance include Banks (-40 points), Chemical (+19 points), Refinery (+12 points), Autos (+12 points), Fertilizer (+12 points) and Inv Banks (+11 points).

    Volumes increased from 365.7 million shares to 376.4 million shares (+3 per cent DoD). Average traded value declined slightly by 0.4 per cent to reach US$ 75.7 million as against US$ 75.8 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, UNITY, FFBL and HUMNL, which formed 36 per cent of total volumes.

    Stocks that contributed positively to the index include THALL (+13 points), EFERT (+12 points), LUCK (+11 points), DAWH (+9 points) and ICI (+8 points). Stocks that contributed negatively include HBL (-32 points), UBL (-9 points), HCAR (-9 points), ANL (-6 points) and PSMC (-5 points).

  • Stocks tumble over COVID lockdown concerns

    Stocks tumble over COVID lockdown concerns

    KARACHI: Pakistan Stock Exchange (PSX) tumbled on Wednesday over growing concerns related to COVID lockdown.

    The market also fell on probe by regulator for unusual price movement in certain stocks.

    The benchmark KSE-100 index closed at 47,318 points as against 47,687 points, showing a decline of 369 points.

    Analysts at Arif Habib Limited said that the market tumbled in later part of the session today, which brought the index down by more than 400 points and closed the session -369 points.

    Concerns over latest COVID lockdown and probe by the regulator on account of unusual price movement in certain stocks brought the market under selling pressure and became the major reasons for sentiment weakness.

    Earlier part of the session saw institutional investors building positions in Cement and Steel sectors that caused the pertinent scrips to show healthy price uptick, however, later activity in the market brought the stock prices down.

    Among scrips, WTL topped the volumes with 40.4 million shares, followed by BYCO (26.8 million) and TELE (13.2 million).

    Sectors contributing to the performance include Technology (-90 points), Cement (-42 points), Refinery (-33 points), Banks (-31 points) and E&P (-30 points).

    Volumes increased from 432.6 million shares to 365.8 million shares (-16 per cent DoD). Average traded value also dipped by 12 per cent to reach US$ 76.0 million as against US$ 85.9 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, TELE, UNITY and KEL, which formed 29 per cent of total volumes.

    Stocks that contributed positively to the index include KTML (+24 points), MEBL (+14 points), COLG (+14 points), PAKT (+4 points) and DAWH (+4 points). Stocks that contributed negatively include TRG (-73 points), UNITY (-25 points), NRL (-17 points), HUBC (-16 points) and LUCK (-16 points).

  • Stocks make marginal gain in narrow range trading

    Stocks make marginal gain in narrow range trading

    KARACHI: Pakistan Stock Exchange (PSX) made a marginal gain on Tuesday while trading in narrow range. The benchmark KSE-100 Index closed at 47,687 points as against previous day’s closing of 47,673 points, showing an increase of 14 points.

    Analysts at Arif Habib Limited said that the market traded narrow range today, oscillating between -56 points and +237 points.

    The investors were anticipating monetary tightening. Resultantly, Banking sector stocks moved up, particularly MCB, HBL and UBL.

    Technology sector on the other hand saw profit booking after making an uptick in the past couple of sessions. Similar activity was witnessed in Textile sector. Cement, O&GMCs and E&P sectors saw selling activity that brought the prices below LDCPs. Among scrips, WTL led the table with 36.6 million shares, followed by BYCO (34.2 million) and KASBM (17.8 million).

    Sectors contributing to the performance include Banks (+119 points), Textile (+40 points), Fertilizer (+29 points), O&GMCs (-43 points), Inv Banks (-35 points) and Cement (-32 points).

    Volumes declined from 450.2 million shares to 432.6 million shares (-4 per cent DoD). Average traded value increased by 3 per cent to reach US$ 86.3 million as against US$ 84.2 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, KASBM, TPL and ASC, which formed 28 per cent of total volumes.

    Stocks that contributed positively to the index include HBL (+44 points), KTML (+30 points), SYS (+30 points), UBL (+27 points) and MCB (+25 points). Stocks that contributed negatively include DAWH (-37 points), PSO (-27 points), TRG (-22 points), NRL (-14 points) and COLG (-12 points).

  • KSE-100 index ends down by 120 points

    KSE-100 index ends down by 120 points

    KARACHI: The Pakistan Stock Exchange (PSX) ended down by 120 points on Monday. The benchmark KSE-100 closed at 47,673 points as against last Friday’s closing of 47,793 points.

    Analysts at Topline Research said that the index opened the day in the positive territory. Initially it reached to an intra-day high of 47,930 points.

    But it succumbed to selling pressure for the rest of the day. It closed near its intra-day low of 47,606 points.

    The start of the futures roll over week, with an outstanding open position of Rs28.07 billion, coupled with concerns of a ballooning current account deficit kept the market gains in check.

    PPL, MEBL, UBL, OGDC, & LUCK dragged the index lower by a cumulative 126 points while MCB, ENGRO & EFERT added 102pts to the benchmark KSE 100 index.

    On the volume front, the KSE All Share Index total volume and value clocked in at 449.50 million shares and Rs13.57 billion, respectively.

    With the introduction of 30, 60 & 90 Deliverable Futures Contract’s (DFC), total volume and value on the Futures counter clocked in at 314.48 million shares and Rs12.4 billion respectively.

    WTL was the volume leader of the day. Its share trading recorded at 127.82 million during the session.

  • Weekly Review: stock market to stay range-bound

    Weekly Review: stock market to stay range-bound

    KARACHI: Pakistan stock market likely to stay range-bound as result season begins during next week. Analysts at Arif Habib Limited said that the Pakistan Stock Exchange (PSX) to remain range-bound to positive during next week. They attribute to beginning of result season, which will keep specific companies in limelight.

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  • Stocks end down by 80 points in lackluster trading

    Stocks end down by 80 points in lackluster trading

    KARACHI: The stock market ended down by 80 points on Friday due to lackluster trading activity. The lackluster activity was because of market opened on the third day of Eid ul Adha.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,793 points. The market closed at 47,873 points on July 19, 2021.

    The market was remained closed from July 20 – 22, 2021 because of Eid ul Adha.

    Analysts at Topline Securities said that lackluster activity was observed at the exchange.

    The index traded between its intraday high of 73 points and intraday low of 187 points. It finally closed at 47,793 level.

    This lackluster activity can be attributed to higher than expected current account deficit.

    The current account recorded at deficit of US$1.644 billion in June 2021. The lackluster activity was also due to lack of interest by investors amid third day of Eid ul Adha.

    Major contribution to the index came from SNGP, SYS, HUBC, LUCK and FFC. These stocks cumulatively contributed 68 points to the index. On the other hand ENGRO, MLCF, PSO, TRG and PSX weighed down on the index by 50 points.

    Today`s traded volume and value stood at 314 million shares and Rs.11 billion, respectively.

    BYCO was today`s volume leader with 34 million shares (apart from NDM).