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Category: Stock & Commodity

  • Equity market gains 622 points in mixed trading

    Equity market gains 622 points in mixed trading

    KARACHI: The equity market gained 622 points on Monday in mixed trading session during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,796 points as against previous closing of 45,175 points showing an increase of 622 points.

    Analysts at Arif Habib Limited said that first trading session after a long Eid vacation, the Market opened +347 points, courtesy LUCK & TRG.

    MSCI EM review during the off period saw inclusion of LUCK and TRG and deletion of INDU, PKGS, OGDC and NBP that resulted in negative price performance in OGDC and likewise positive price performance in LUCK.

    The momentum kept the interest alive and the index kept posting gains with a total addition of 632 points.

    In addition, Tech stocks continued the uptrend with prominent performance by TRG, NETSOL and AVN. Among scrips, WTL topped the volumes with 72.9 million shares, followed by KEL (38.3 million) and GGL (35.9 million).

    Sectors contributing to the performance include Cement (+200 points), Technology (+140 points), Fertilizer (+55 points), Textile (+35 points) and Vanaspati (+34 points).

    Volumes increased from 245.6 million shares to 437.4 million shares (+78 percent DoD). Average traded value also increased by 115 percent DoD to reach US$ 133.5 million as against US$ 62.2 million.

    Stocks that contributed significantly to the volumes include WTL, KEL, GGL, TELE and UNITY, which formed 44 percent of total volumes.

    Stocks that contributed positively to the index include TRG (+135 points), LUCK (+94 points), UNITY (+34 points), MCB (+32 points) and MLCF (+24 points). Stocks that contributed negatively include OGDC (-65 points), PPL (-19 points), HBL (-8 points), NRL (-8 points) and BAFL (-6 points).

  • TPL Life launches insurance plan for overseas Pakistanis

    TPL Life launches insurance plan for overseas Pakistanis

    KARACHI: TPL Life has launched Roshan Zindagi, a unique insurance plan designed to facilitate Non Resident Pakistanis (NRP’s) and their families residing in Pakistan.

    With a unique product which is new to Pakistan’s insurance landscape, TPL Life strives to be the only digital life and health solution for valuable contributors to Pakistan’s economy they reside abroad.

    To ensure maximum convenience to NRP’s, the solution aims to provide an end-to-end, paperless and digital experience to over nine million Pakistanis residing abroad through an easy yet preference based journey.

    TPL Life’s Roshan Zindagi Insurance Plan offers Accidental Death Coverage of over Rs2.5 million for NRP’s, Comprehensive Health Insurance Benefits for their families residing in Pakistan, as well as exclusive dismemberment limits against any unforeseen events.

    To further facilitate customers, the plan also provides Cashless Hospitalization of up to Rs20 million with access to TPL Life’s 300 + panel hospitals located across Pakistan.

    The product is currently offered to Pakistanis residing in 11 countries including UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Australia, Malaysia, UK, USA and Canada, with an aim to expand the Roshan Zindagi footprint to more than 50 countries serving hardworking expats in the coming years.

    Speaking at the occasion, Faisal Abbasi, CEO, TPL Life said: “It gives me great pleasure to present Roshan Zindagi Plans for Overseas Pakistanis & their families residing in Pakistan.

    “The launch of TPL Life’s Roshan Zindagi Plan is a testament to our quest of completing the circle of safety by providing two-fold benefits to NRPs and their families. We at TPL Life, leave no stone unturned to provide personalized propositions and address the needs of every customer segment in Pakistan.”

  • Weekly Review: stock market to remain shut for Eid Holidays

    Weekly Review: stock market to remain shut for Eid Holidays

    KARACHI: The Pakistan Stock Exchange (PSX) will remain closed next week due to a week-long holiday announced by the government for Eid ul Fitr celebrations. This decision will provide market participants with an extended break amidst the festive season.

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  • Stock market gains 231 points ahead prolong Eid holidays

    Stock market gains 231 points ahead prolong Eid holidays

    KARACHI: The stock market gained 231 points on Thursday despite extended holidays announced for Eid ul Fitr. The stock market will reopen on May 17, 2021.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,175 points as against previous day’s closing of 44,944 points, showing an increase of 231 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note and after sustaining a short dip of 54 points below LDCP, bounced back, closing the session on a strong note at 231 points.

    Cement, Fertilizer, Refinery and Technology stocks kept the interest alive and despite a long vacation investors took a long bet.

    Trading volumes remained tilted towards off main board in WTL, TELE, however regardless of the recent onslaught on TRG and NETSOL, buying interest brought the stocks prices of pertinent stocks up generating considerable interest. Among scrips, WTL topped the volumes with 80.3 million shares, followed by TRG (14.7 million) and TELE (12.7 million).

    Sectors contributing to the performance include Cement (+80 points), Banks (+55 points), Technology (+33 points), Tobacco (+25 points), Power (+14 points), E&P (-30 points) and Chemical (-11 points).

    Volumes declined from 259.8 million shares to 245.6 million shares (-6 percent DoD). Average traded value also declined by 36 percent to reach US$ 62.1 million as against US$ 96.7 million.

    Stocks that contributed significantly to the volumes include WTL, TRG, TELE, UNITY and GGL, which formed 53 percent of total volumes.

    Stocks that contributed positively to the index include LUCK (+61 points), TRG (+37 points), BAFL (+26 points), PAKT (+25 points) and KAPCO (+14 points). Stocks that contributed negatively include UBL (-20 points), EPCL (-13 points), POL (-12 points), MARI (-10 points) and PPL (-10 points).

  • SECP company registration increases to 141,805

    SECP company registration increases to 141,805

    ISLAMABAD: The total number of registered companies with the Securities and Exchange Commission of Pakistan (SECP) with addition of 2,185 new company registration in April 2021, a statement said on Wednesday.

    The SECP said that the company registration has been increased by 186 percent in April 2021 as compared with the same month of the last year.

    In April 2021, around 99 percent companies were registered online, 29 percent of applicants completed the incorporation process the same day while 220 foreign users were also registered from overseas.

    SECP chairman Amir Khan attributed the trend of growth to digitalization and automation, introduction of simplified combined process for name reservation and incorporation, very low level of fees, and assistance provided for incorporation by the newly established business center.

    The SECP said that the April incorporation including 67 percent private limited companies, 29 percent single member companies and the remaining 4 percent were public unlisted companies, not for profit associations, trade organizations, foreign companies and limited liability partnership (LLPs).

    The IT sector, for the first time, took lead with the registration of 194 new companies in a month. The IT sector was followed by the trading sector with registration of 180 new companies, construction with 117, import and export with 115, and consultancy services with 110 companies.

    Foreign investment has been reported in 47 new companies. These companies have foreign investors from USA, China, Saudi Arabia, Germany, UAE, Greece, Turkey, Norway, Canada, Netherlands, Syria, UK, Hong Kong and Australia.

    The highest numbers of companies i.e. 736 were registered in Islamabad, followed by 667, 378 and 151 companies registered in Lahore, Karachi and Peshawar, respectively. The CRO in Multan, Faisalabad, Gilgit-Baltistan, Quetta and Sukkur registered 131, 48, 48, 23 and 3 companies respectively.

  • Equity market gains 380 points despite adverse in technology stocks

    Equity market gains 380 points despite adverse in technology stocks

    The equity market in Karachi closed on a positive note on Wednesday, with the benchmark KSE-100 index gaining 380 points to settle at 44,944, up from the previous day’s closing of 44,564 points. This gain came despite volatile performance in the technology sector, which weighed down some key scrips.

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  • Shamshad Akhtar appointed PSX board’s chairperson

    Shamshad Akhtar appointed PSX board’s chairperson

    KARACHI: Dr. Shamshad Akhtar has been appointed as the chairperson of the board of Pakistan Stock Exchange (PSX), a notification said on Wednesday.

    The notification stated that the board of directors of the PSX at its meeting held on May 04, 2021 appointed Dr. Shamshad Akhtar as the chairperson of the board of the exchange.

    Dr. Shamshad Akhtar has already served as Governor, State Bank of Pakistan.

  • PSX to remain closed for 10 days

    PSX to remain closed for 10 days

    The Pakistan Stock Exchange (PSX) is set to observe an extended closure, spanning 10 days, to accommodate both weekly and Eid-ul-Fitr holidays.

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  • Equity market gains 487 points on positive sentiments

    Equity market gains 487 points on positive sentiments

    KARACHI: The equity market has shown an increase of 487 points on Tuesday as positive sentiments prevailed during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,563 points as against previous day’s closing of 44,076 points, showing an increase of 487 points.

    Analysts at Arif Habib Limited said that the market performed well today, adding a total of 544 points on the board and closed at high note. Resolution of roll-over uncertainty in TRG helped investors take a positive view on the stock resulting in TRG hitting upper circuit.

    NETSOL on the other hand, remained under pressure with stock at lower circuit for the consecutive session. Oil prices also bounced overnight that helped E&P companies to inch up.

    Cement and Steel sectors bounced back as well, after sustaining losses in the previous sessions. Among scrips, UNITY topped the volumes with 33.8 million shares, followed by TELE (26.2 million) and GGL (23.5 million).

    Sectors contributing to the performance include Technology (+127 points), Banks (+84 points), Fertilizer (+61 points), Cement (+43 points) and Vanaspati (+31 points).

    Volumes declined from 238.4 million shares to 221.5 million shares (-8 percent DoD). Average traded value also declined by 11 percent to reach US$ 65.8 million as against US$ 73.8 million.

    Stocks that contributed significantly to the volumes include UNITY, TELE, GGL, TRG and HASCOL, which formed 50 percent of total volumes.

    Stocks that contributed positively to the index include TRG (+116 points), LUCK (+38 points), HBL (+32 points), UNITY (+31 points) and MCB (+23 points). Stocks that contributed negatively include PAKT (-26 points), KTML (-8 points), NESTLE (-6 points), ICI (-5 points) and DGKC (-3 points).

  • Holiday notice

    Holiday notice

    KARACHI – The Pakistan Stock Exchange (PSX) has officially announced its closure on Friday, May 07, 2021, in observance of Juma-tul-Wida, the Last Friday of the holy month of Ramadan.

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