The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) experienced a modest gain of 216 points on Wednesday, closing at 44,260 points, up from the previous day’s closing of 44,044 points.
(more…)Category: Stock & Commodity
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Annual collection of capital gain tax falls by 26%
Official data reveals a significant decline of 26% in the annual collection of Capital Gain Tax (CGT) from the disposal of securities during the fiscal year 2020/2021.
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Stocks gain 130 points amid upcoming mini-budget
KARACHI: The stocks gained 130 points on Tuesday amid volatility due to roll-over week and ahead announcement of mini-budget.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,044 points as against the previous day’s closing 43,913 points, showing an increase of 130.
READ MORE: Weekly Review: market to move with mini-budget
Analysts at Arif Habib Limited said that the market continued to remain volatile due to the roll-over week and upcoming mini-budget.
Profit-taking was witnessed in the first trading hour while the market battled between the bulls and bears throughout the day.
READ MORE: Stocks end down by 149 points on falling forex reserves
Mainboard volumes remained on the dull note due to lack of any trigger whereas activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Technology & Communication (+59 points), Oil & Gas Exploration Companies (+44 points), Cement (+9 points) Automobile Assembler (+9 points) and Oil & Gas Marketing Companies (+7 points).
READ MORE: CGT on disposal of securities to be collected on Dec 30
Volumes increased from 114.7 million shares to 143.4 million shares (+25.1 per cent DoD). Traded value also increased by 12.9 per cent to reach US$ 28.0 million as against US$ 24.8 million.
Stocks that contributed significantly to the volumes include UNITYR3, TRG, HUMNL, KEL and UNITY.
READ MORE: CGT rates on disposal of securities during Tax Year 2022
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Stock market remains choppy on upcoming mini-budget
KARACHI: The stock exchange remained choppy and lost 205 points on Monday owing to the expected mini-budget to be tabled by the government this week.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 43,913 points as against last Friday’s ending of 44,118 points, showing a decrease of 205 points.
READ MORE: Weekly Review: market to move with mini-budget
Analysts at Arif Habib Limited said that the market remained choppy due to the upcoming mini-budget.
Profit-taking was witnessed in the last trading hour while the market battled between the bulls and bears throughout the day.
Mainboard volumes remained on the dull note due to lack of any trigger whereas activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Stocks end down by 149 points on falling forex reserves
Sectors contributing to the performance include Oil & Gas Exploration Companies (-63 points), Technology & Communication (-55 points), Power Generation & Distribution (-34 points) Commercial Banks (-33 points) and Food & Personal Care Products (-20 points).
READ MORE: CGT on disposal of securities to be collected on Dec 30
Volumes decreased from 223.4 million shares to 114.7 million shares (-48.7 per cent DoD). Traded value also decreased by 39.8 per cent to reach US$ 24.8 million as against US$ 41.2 million.
Stocks that contributed significantly to the volumes include CNERGY, TRG, UNITYR3, UNITY and TELE.
READ MORE: CGT rates on disposal of securities during Tax Year 2022
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Weekly Review: market to move with mini-budget
KARACHI: The stock market is likely to move with the proposals made by the government in the mini-budget expected to submit this week.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) increased by 0.5 per cent on week on week (WoW) basis, said analysts at Topline Securities.
READ MORE: Stocks end down by 149 points on falling forex reserves
Major events during the outgoing week were:
1) SBP governor in an interview stated that they are ready to pause interest-rate increases to preserve economic recovery after making Asia’s most aggressive rate hikes (275 basis points in total) in three goes since September 2021
2) Current account deficit for the month of November 2021 clocked in at $1.91 billion (vs. October 2021 current account deficit of $1.76 billion)
READ MORE: CGT on disposal of securities to be collected on Dec 30
3) textile export for the month of November 2021 clocked in at $1.736 billion (vs. October 2021 textile export of $1.6 billion)
4) SBP raised Rs158 billion on Wednesday against the target of Rs100bn by selling fixed-rate Pakistan Investment Bonds.
4) statement from the Ministry of Finance that the sixth review of the Extended Fund Facility (EFF) would be presented to the International Monetary Fund (IMF) board on January 12, 2022.
READ MORE: IMF Board to approve $1.059bn by Jan 12, 2022: Tarin
5) government has decided to submit two bills before the parliament next week for abolishing sales tax exemptions, raising withholding tax on the telecom sector, and granting autonomy to the SBP, as part of prior action of IMF program
6) the federal government has only managed to collect 7 per cent of the petroleum levy collection target in the first five months of FY22 and
7) foreign exchange reserves held by the central bank fell by $415 million on a weekly basis to $18.15 billion as of December 17, 2021.
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Stocks end down by 149 points on falling forex reserves
KARACHI: The stocks ended down by 149 points on Friday as investors were concerned over high inflation and falling foreign exchange reserves.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,118 points as against previous day’s closing of 44,267 points, showing a decrease of 148.5 points.
Analysts at Arif Habib Limited said that the battle between bulls and bears was conquered by the bears in the last trading hour.
Market opened with a positive momentum as State Bank of Pakistan (SBP) SBP conducted another Open Market Operation (OMO) for 63 days.
Optimistic approach faded away due to concerns of investors towards higher inflation and dip in total liquid foreign exchange reserves held by the SBP mainly due to external debt repayment.
Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, in the second session institutional buyers started fetching value stocks due to attractive multiples.
Sectors contributing to the performance include Technology & Communication (-60 points), Chemical (-36 points), Cement (-25 points) Oil & Gas Exploration Companies (-17 points) and Textile (-9 points).
Volumes decreased from 240.4 million shares to 223.4 million shares (-7.1 per cent DoD). Traded value also decreased by 8.5 per cent to reach US$ 41.2 million as against US$ 45.0 million.
Stocks that contributed significantly to the volumes include UNITYR3, HUMNL, TRG, TPLP and UNITY.
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CGT on disposal of securities to be collected on Dec 30
The National Clearing Company of Pakistan Limited (NCCPL) has announced that it will collect Capital Gain Tax (CGT) on the disposal of securities for the month of October 2021 on December 30, 2021.
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KSE-100 index gains 92 points in range-bound trading
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 92 points on Thursday amid range bound trading.
The index closed at 44,267 points as against previous day’s closing of 44,175 points.
Analysts at Arif Habib Limited said that the market continued to remain range-bound due to the ambiguity over mini-budget.
Market opened in the green zone as State Bank of Pakistan (SBP) raised Rs158 billion through Pakistan Investment Bills (PIBs), hefty participation indicating yields to stay at the same level in the near future.
Market battled between the bulls and bears throughout the day due to lack of any key positive trigger.
Main board volumes remained dull whereas activity continued to move side-ways as market witnessed hefty volumes in the 3rd tier stocks.
Sectors contributing to the performance include Technology & Communication (+69.2 points), Inv. Banks / Inv. Cos. / Security Cos. (+12.3 points), Cement (+11.6 points) Vanaspati & Allied Industries (+6.5 points) and Power Generation & Distribution (+4.91).
Volumes increased from 151.8 million shares to 240.4 million shares (+58.4 per cent DoD). Traded value also increased by 22.1 per cent to reach US$ 45.0 million as against US$ 36.9 million.
Stocks that contributed significantly to the volumes include HUMNL, TRG, UNITY, SMBL and WTL.
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Stocks end flat ahead mini-budget announcement
KARACHI: The stocks ended flat on Wednesday ahead of planned announcement of mini-budget by the government. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,175 points as against previous day’s closing of 44,177 points, showing a decrease of 2.1 points.
Analysts at Arif Habib Limited said that the market continued to remain choppy ahead of mini-budget.
READ MORE: KSE-100 index declines by 163 points on widening CAD
The government had planned to take the cabinet’s nod to the Supplementary Finance Bill, 2021 to slap highly inflationary Rs360 billion in indirect taxes.
Profit-taking was witnessed in the first trading hour then market battled between the bulls and bears throughout the day.
Main board volumes remained on the dull note whereas activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Stocks gain 169 points on SBP’s OMO
Sectors contributing to the performance include Cement (-28 points), Engineering (-14 points), Insurance (-11 points) and Chemicals (-6 points).
Volumes decreased from 223.1 million shares to 151.8 million shares (-32.0 per cent DoD). Traded value also decreased by 24.3 per cent to reach US$ 36.9 million as against US$ 48.7 million.
Stocks that contributed significantly to the volumes include GGL, UNITY, TRG, WTL and CNERGY.
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KSE-100 index declines by 163 points on widening CAD
KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) on Tuesday declined by 163 points owing to the widening of the Current Account Deficit (CAD).
The benchmark index closed at 44,177 points as against the previous day’s close of 44,340 points.
READ MORE: Stocks gain 439 points on stable market hints
Analysts at Arif Habib Limited said that the market remained choppy today as CAD numbers increased to $1.9 billion during November 2021.
On YoY basis, the primary reason behind the deficit was 57 per cent YoY increase in total imports to $7.3 billion. Profit-taking occurred in the first trading hour then the market battled between the bulls and bears throughout the day. Volumes remained on the dull note whereas activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Stocks gain 169 points on SBP’s OMO
Sectors contributing to the performance include E&P (-57 points), Commercial Banks (-51 points), Fertilizer (-45 points), Cement (-39 points) and OMC’s (-14 points).
Volumes decreased from 238.5 million shares to 223.1 million shares (-6.4 per cent DoD). Traded value also decreased by 7.6 per cent to reach US$ 48.8 million as against US$ 52.8 million.
Stocks that contributed significantly to the volumes include WTL, TRG, CNERGY, FFL and TELE.