Category: Stock & Commodity

KARACHI: The benchmark KSE-100 index fell by 451 points on Wednesday owing to selling pressure witnessed during the day.

The index closed at 43,954 points as against previous day’s closing of 44,404 points showing a decline of 451 points.

Analysts at Arif Habib Limited said that the KSE-100 benchmark index lost 647 points during the session after posting an intra-day gain of 930 points.

Banks, E&P, Fertilizer sectors remained under selling pressure whereas Tech and Refinery sector stocks saw mixed reaction from Investors.

Different factors were at play that brought negative sentiment including anticipation of mute growth in financial sector results and decline in international crude oil prices.

Cement sector performed well earlier in the session, however, change of overall sentiment brought cement stocks down as well. Among scrips, TRG led the table with 38.3 million shares, followed by DSL (30.3 million) and ANL (22.9 million).

Sectors contributing to the performance include Banks (-183 points), E&P (-103 points), Fertilizer (-98 points), Autos (-37 points) and Power (-31 points).

Volumes increased slightly from 305.9 million shares to 371 million shares (+21 percent DoD). Average traded value also increased by 26 percent to reach US$ 132.8 million as against US$ 105.2 million.

Stocks that contributed significantly to the volumes include TRG, DSL, ANL, GGL and TELE, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+39 points), AICL (+15 points), TRG (+12 points), EFUG (+11 points) and ISL (+11 points). Stocks that contributed negatively include HBL (-55 points), ENGRO (-52 points), BAHL (-46 points), OGDC (-44 points) and FFC (-35 points).

KARACHI: The stock market registered a gain of 857 points on Tuesday amid across the board buying activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,405 points as against previous day’s closing of 43,548 points, showing an increase of 857 points.

Analysts at Arif Habib Limited said that the market made a strong come back today by adding a total of 930 points during the session and ending the session +857 points.

Tech & Refinery sectors contributed to change of sentiment, which hit lower circuits yesterday and rebounded today. After yesterday’s dismal performance, the total leverage dropped to Rs. 33 billion with significant reduction in leverage levels of Tech & Refinery sectors stocks in recent time, thereby giving some breathing space to the Investors.

Besides, buying activity was observed across the board with consistent performance from Fertilizer sector, but saw rebound in E&P, O&GMCs and Cement sector stocks. Among scrips, TRG topped the volumes with 20.6 million shares, followed by NETSOL (19.2 million) and UNITY (16.4 million).

Sectors contributing to the performance include Cement (+165 points), Technology (+137 points), Banks (+97 points), E&P (+53 points) and Power (+53 points).

Volumes increased slightly from 302.8 million shares to 306.0 million shares (+1 percent DoD). Average traded value increased by 20 percent to reach US$ 105.1 million as against US$ 87.5 million.

Stocks that contributed significantly to the volumes include TRG, NETSOL, UNITY, ANL and BYCO, which formed 29 percent of total volumes.

Stocks that contributed positively to the index include TRG (+103 points), LUCK (+66 points), HUBC (+41 points), HBL (+32 points) and SYS (+27 points). Stocks that contributed negatively include BAFL (-4 points), EFUG (-3 points), AKBL (-2 points), INDU (-2 points) and ATLH (-1 points).

KARACHI: The stock market fell by 753 points on Monday as investors seen uncertain about the fast spread of coronavirus in the third wave.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,548 points as last Friday’s closing of 44,301 points, showing a decline of 753 points.

Analysts at Arif Habib Limited said that the market took a major slide of 830 points during the session and closing the session -753 points.

Although overall leverage has come down, the stocks which sustained high levels of leverage positions (including NETSOL, TRG, ATRL and NRL) came crashing down after failing to make forward move.

Besides lockdown concerns due to rapid spread of Corona in Punjab, investors became perturbed due to IMF conditionalities (post resumption of Program) that hints of rising cost of production for the industries as well as withdrawal of tax exemptions that has seen no end, unless the matter is deliberated and finalized in the Finance Act  (i.e. upcoming Budget).

Selling pressure was witnessed across the board, with major contribution from Technology & Banking sector stocks. Among scrips, TRG topped the volumes with 24.3 million shares, followed by DSL (24.3 million) and SILK (20 million).

Sectors contributing to the performance include Technology (-142 points), Banks (-136 points), Cement (-88 points), E&P (-60 points) and Textile (-48 points).

Volumes increased from 266.8 million shares to 302.8 million shares (+13 percent DoD). Average traded value on the contrary declined by 7 percent to reach US$ 87.3 million as against US$ 93.6 million.

Stocks that contributed significantly to the volumes include TRG, DSL, SILK, BYCO and PRL, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+44 points), KAPCO (+5 points), EFUG (+3 points), HCAR (+1 points) and ABOT (+1 points). Stocks that contributed negatively include TRG (-94 points), SYS (-47 points), HBL (-42 points), LUCK (-41 points) and UBL (-32 points).

KARACHI: The stock market likely to trade in range bound during the next week owing to strengthening of rupee value and improved foreign exchange reserves.

Analysts at Arif Habib Limited believed the market may portray a range-bound behavior next week. While consolidating macroeconomic fundamentals led by strengthening PKR/USD parity and building up of FOREX reserves pose upside risks, we highlight the ongoing third wave of COVID-19 to be a major risk to the investors’ confidence.

The upcoming results season can attract bulls particularly amongst cyclical sectors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.6x (2021) compared to Asia Pac regional average of 17.1x and while offering DY of around 7.1 percent versus around 2.5 percent offered by the region.

This week saw bears return to the forefront as the market sentiment was in severe pressure. Changes in the cabinet including the Finance Ministry, announcement by ECC and subsequent rejection of the decision by the cabinet to resume trade with India, and the ongoing third wave of COVID-19 all contributed to the pessimism in the market.

Failure to meet the deadline for the first tranche payment to IPPs further added to the overall pessimism. This week also saw successful issuance of the USD denominated Eurobonds in international markets that raised USD 2.5 billion.

 The market closed at 44,301 points, shedding 1,221 points WoW.

Sector-wise negative contributions came from i) Technology & Communication (341 points), ii) Commercial Banks (164 points), iii) Oil & Gas Exploration Companies (147 points), iv) Cement (144 points) and v) Power Generation and Distribution (117 points).

Meanwhile, sectors that contributed positively include i) Fertilizer (91 points) and ii) Automobile Assembler (24 points). Scrip-wise negative contributors were TRG (328 points), HUBC (71 points), LUCK (61 points), PPL (58 points) and PSO (51 points). Whereas, positive contributors included ENGRO (120 points), FCCL (22 points) and SRVI (20 points).

Foreign selling continued this week clocking-in at USD 4.9 million compared to a net sell of USD 0.1 million last week. Selling was witnessed in Technology and Communication (USD 6.0 million) and Power Gen. (USD 1.4 million).

 On the domestic front, major buying was reported by Insurance Companies (USD 6.8 million) and Individuals (USD 5.4 million). Average volumes arrived at 377 million shares (down by 18 percent WoW) while average value traded settled at USD 133 million (down by 16 percent WoW).

KARACHI: The share market fell by 127 points on Friday in volatile trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,301 points from previous day’s closing of 44,428 points, showing a decline of 127 points.

Analysts at Topline Securities said that volatility was observed during trading session as the index traded went up by 181 points and down by 230 points to close at 44,301 level.

Lack of investor interest was witnessed in the market as volume and traded value decline by 40 percent and 45 percent on DoD basis to 266 million shares and Rs.14.35billion, respectively.

Major contribution to the index came from COLG, LUCK, FCCL. ENGRO and HBL, as they cumulatively contributed 73 points to the index, whereas TRG, POL, DAWH, PAKT and SYS lost value to weigh down on the index by -115 points. TRG was today`s volume leader with 23 million shares.

KARACHI: The share market declined by 160 points on Thursday in a range bound trading activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,428 points as against previous day’s closing of 44,588 points, showing a decline of 160 points.

Analysts at Arif Habib Limited said that the market traded range bound today with an oscillation between -254 points and +290 points.

Federal cabinet’s decision not to import cotton yarn and sugar from India, added to the confusion amongst Investors, who warmly welcomed the hint of it yesterday.

On the other hand, leverage positions in tech and refinery stocks have continually caused selling pressure in the market, whereby declining prices of pertinent stocks made the concerned investors revisit the investment decision.

Selling pressure was evident in Cement, Steel, Banks, which brought the index down by the end of session. News of vaccine manufacturing by SEARL, helped the stock make a leap towards upper circuit.

Similarly, ENGRO hit upper circuit on the expectation of new investment in a polypropylene plant. Among volume leaders, BYCO topped the volumes with 30.3 million shares, followed by TRG (25.3 million) and GGL (17.9 million).

Sectors contributing to the performance include Technology (-121 points), Cement (-64 points), Banks (-42 points), Refinery (-40 points), O&GMCs (-32 points).

Volumes declined from 443.9 million shares to 313.5 million shares (-29 percent DoD). Average traded value also declined by 33 percent to reach US$ 113.7 million as against US$ 169 million.

Stocks that contributed significantly to the volumes include BYCO, TRG, GGL, PTC and UNITY, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+152 points), DAWH (+33 points), SEARL (+30 points), SRVI (+18 points) and HUBC (+16 points). Stocks that contributed negatively include TRG (-108 points), LUCK (-20 points), PSO (-19 points), ATRL (-18 points) and MEBL (-18 points).

KARACHI: The stock market gained 97 points on Wednesday amid positive sentiments on launch of Eurobonds by Pakistan.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,588 points as against previous day’s close of 44,491 points, showing an increase of 97 points.

Analysts at Arif Habib Limited said that Pakistan’s launch of Eurobond and raising funds from international market was warmly greeted by PSX, which saw an upside of 642 points during the session and ended 97 points.

E&P, Cement, O&GMCs and Steel sectors performed well whereas Refinery and Tech proved to be very volatile, where stocks hit lower circuit after trading at high rates during the session.

A hint towards opening up trade with India also boosted investors’ confidence, where among listed sectors, Cement is anticipated to be a key beneficiary from export of cement. Among scrips, BYCO topped the volumes with 73.2 million shares, followed by TRG (39 million) and PRL (31.1 million).

Sectors contributing to the performance include Fertilizer (+24 points), Cement (+24 points), E&P (+22 points), Banks (+19 points), Tech (-35 points), Textile (-17 points).

Volumes increased from 339.1 million shares to 443.9 million shares (+31 percent DoD). Average traded value also increased by 25 percent to reach US$ 169.7 million as against US$ 135.9 million.

Stocks that contributed significantly to the volumes include BYCO, TRG, PRL, UNITY and GGL, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+31 points), UBL (+28 points), POL (+20 points), SYS (+20 points) and SRVI (+17 points). Stocks that contributed negatively include TRG (-52 points), HBL (-30 points), COLG (-20 points), HUBC (-11 points) and FFC (-10 points).

KARACHI: The stock market increased by 59 points on Tuesday in mixed trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,491 points as against previous day’s closing of 43,755 points, showing an increase of 59 points.

Analysts at Arif Habib Limited said that the market reacted passively to the partial changes made by the Government in Finance & Petroleum Ministries with Index oscillating between -232 points and +377 points, closing the session +178 points (unadjusted).

Last half an hour of closing saw brisk buying and rapid recovery although the session saw dull activity for good part of the session.

News reports indicated further changes in the Federal cabinet in offing, which will be announced later today and finalized by Thursday.

This kept Investors perturbed about the changes made in key ministries and impact thereof on policy measures taken in the past several months. UNITY rebounded well to trade near upper circuit by the end of session, whereas tech and refinery stocks also garnered support.

Among scrips, BYCO realized trading volume of 45.8 million shares, followed by TRG (35.2 million) and UNITY (30.8 million).

Sectors contributing to the performance include Banks (+58 points), Autos (+32 points), Cement (+20 points), Chemical (+14 points), E&P (-39 points), Power (-36 points) and Tobacco (-18 points).

Volumes declined from 523.8 million shares to 339 million shares (-35 percent DoD). Average traded value also declined by 12 percent to reach US$ 135.6 million as against US$ 153.6 million.

Stocks that contributed significantly to the volumes include UNITY, PRL, NETSOL, HUMNL and TELE, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include MCB (+57 points), FFC (+21 points), INDU (+11 points), FFBL (+11 points) and PAEL (+10 points). Stocks that contributed negatively include ENGRO (-39 points), HUBC (-32 points), MARI (-28 points), PAKT (-16 points) and UBL (-16 points).