Category: Stock & Commodity

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday plunged by 1,090 points owing to alarming rise in coronavirus cases in third wave.

The index closed at 44,432 points from last Friday’s closing of 45,522 points, showing a decline of 1,090 points.

Analysts at Topline Securities said that rising COVID cases and a higher Weekly SPI resulted in low market depth as investors adopted a cautious approach while a rumor of Mutual Fund redemptions added to the selling pressure at the bourse.

The major decliners were namely TRG, LUCK, MCB, HUBC & HBL who cumulatively dragged the benchmark index lower by around 319 points.

On the volume front, daily traded volume and value clocked in at 522.5 million shares (down 1.24 percent DoD) and Rs23.47 billion (down 6.87 percent DoD) respectively.

The volume leader for today was BYCO with 80.25 million shares traded during the session.

KARACHI: The stock market likely to move positive during next week owing to strengthening of Pak Rupee against the dollar and stable external position.

However, third wave of COVID-19 is ongoing and smart lockdowns are being placed to counter it hence the element of uncertainty cannot be ignored, analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.8x (2021) compared to Asia Pac regional average of 17.0x and while offering DY of around 7.0 percent versus 2.6 percent offered by the region.

The market commenced this week on a positive note. Amid expectation of supportive policies for refineries, the refinery sector remained in the limelight.

With inflows of foreign funds, the SBP reserves climbed up by USD 275 million WoW, PKR/USD parity settled at PKR 154.59 (which is the strongest parity since March 06, 2020).

Additionally, Current Account Deficit for the month of February 2021 witnessed 75 percent YoY/76 percent MoM decline.

Moreover, the IMF agreed to release USD 500 million to Pakistan. However, in order to comply with IMF conditions an ordinance for withdrawing corporate tax exemptions was signed by the President, which somewhat suppressed sentiment in the bourse.

Furthermore, recent surge in COVID-19 cases (4,368 new cases yesterday with infection ratio standing at 10.3 percent) sent alarm bells ringing. The market closed at 45,522 points, gaining 620 points (up by 1.4 percent) WoW.

Sector-wise positive contributions came from i) Technology & Communication (333 points), ii) Oil & Gas Exploration Companies (94 points), iii) Auto Assembler (71 points), iv) Refinery (62 points) and v) Chemical (50 points).

Whereas sectors that contributed negatively include i) Commercial Banks (46 points) and ii) Cement (39 points). Scrip-wise positive contributors were TRG (280 points), PPL (65 points), ATRL (56 points), OGDC (47 points) and ANL (44 points) while negative contributors included HBL (52 points), POL (28 points) and ENGRO (24 points).

Foreign selling this week clocking-in at USD 0.1 million compared to a net buy of USD 3.0 million last week. Selling was witnessed in Technology & Communication (USD 2.1 million) and Power Gen. (USD 1.2 million).

On the domestic front, major buying was reported by Broker Proprietary (USD 3.7 million and Mutual Funds (USD 1.7 million). Average volumes arrived at 463 million shares (down by 4 percent WoW) while average value traded settled at USD 159 million (up by 10 percent WoW).

KARACHI:  The stock market lost 204 points on Friday owing to withdrawal of tax exemption through a presidential ordinance.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,521 points as against previous day’s closing of 45,726 points, showing a decline of 204 points.

Analysts at Arif Habib Limited said that last day of the rollover week saw market shedding 289 points during the session and closing the index -204 points.

Confirmation of amendment to the Income tax ordinance to take effect of withdrawal of Rs. 140 billion tax exemptions had bearing on Steel, Cement, Fertilizer, O&GMCs whereas banking sector stocks also went down due to overall selling pressure.

Key subjects of roll-over NETSOL, TRG also ended on a negative note with the exception of ATRL, which traded positively throughout the session. Among scrips, BYCO topped the volumes with 83.1 million shares, followed by PRL (56.2 million) and PTC (39.5 million).

Sectors contributing to the performance include Banks (-93 points), Cement (-72 points, E&P (-46 points), O&GMCs (-15 points), Refinery (+26 points).

Volumes increased from 470.4 million shares to 529.2 million shares (+12 percent DoD). Average traded value, on the other hand, declined by 3 percent to reach US$ 162.9 million as against US$ 167 million.

Stocks that contributed significantly to the volumes include BYCO, PRL, PTC, UNITY and TRG, which formed 47 percent of total volumes.

Stocks that contributed positively to the index include ANL (+21 points), ATRL (+19 points), MEBL (+18 points), HMB (+15 points) and INDU (+12 points). Stocks that contributed negatively include HBL (-54 points), BAHL (-25 points), PSO (-24 points), UBL (-22 points) and LUCK (-22 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 182 points on Thursday owing to positive sentiments of investors after release of IMF fund for Pakistan.

The Index closed at 45,726 points as against previous day’s closing of 45,544 points, showing an increase of 182 points.

Analysts at Arif Habib Limited said that the market responded positively to IMF’s disbursement of 3rd tranche of US$ 500 million and added a total of 456 points during the session and ended the session +182 points.

Although, Banks, E&P, O&GMCs and Fertilizer stocks ended the session in red, it was mostly Tech, Refinery and Cement sectors that contributed positively to the Index.

Telecom sector had PTC as the leading stock which had bearing from sale of Dhabi Group’s stake in Pakistan Mobile Communication Limited (an unlisted company).

Power sector saw KAPCO performing on the expectation of release of funds related to circular debt. Similarly, Chemical sector saw active trades in EPCL, which performed well on the back of healthy product margins.

Among volume leaders, PTC topped the volumes with 61.3 million shares, followed by TRG (38.8 million) and BYCO (38.2 million).

Sectors contributing to the performance include Tech (+118 points), Cement (+30 points), Autos (+25 points), Textile (+15 points), Fertilizer (-27 points), E&P (-22 points) and O&GMCs (-17 points).

Volumes increased from 409.6 million shares to 470.4 million shares (+15 percent DoD). Average traded value moved 1 percent up to reach US$ 166.6 million as against US$ 165.2 million.

Stocks that contributed significantly to the volumes include PTC, TRG, BYCO, UNITY and HASCOL, which formed 40 percent of total volumes.

Stocks that contributed positively to the index include TRG (+107 points), ANL (+21 points), LUCK (+17 points), PAKT (+14 points) and KAPCO (+13 points). Stocks that contributed negatively include MEBL (-24 points), ENGRO (-20 points), HUBC (-16 points), PPL (-12 points) and FFC (-9 points).

KARACHI: The stock market gained 137 points on Wednesday in a range bound trading activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,544 points as against Monday’s closing of 45,407 points showing an increase of 137 points.

Analysts at Arif Habib Limited said that the market traded range bound today, oscillating between -148 points and +186 points, closing the session +137 points.

E&P sector led the Index the other day remained negative throughout the session on the back of an overnight decline in international crude oil prices by around 7 percent.

Refinery, Tech and Chemical sectors on the other hand, performed well today with TRG, PTC hitting upper circuits. Banking sector stocks also remained muted but positive throughout the session.

O&GMCs saw PSO bouncing back by the end of session, which otherwise traded below LDCP good part of the session. Among scrips, TRG topped the volumes with 54.5 million shares, followed by PTC (37.1 million) and BYCO (29.2 million).

Sectors contributing to the performance include Tech (+123 points), Autos (+29 points), Chemical (+27 points), Cement (+25 points), Banks (+19 points), E&P (-73 points), Fertilizer (-20 points) and O&GMCs (-17 points).

Volumes declined from 440.9 million shares to 409.7 million shares (-7 percent DoD). Average traded value increased by 15 percent DoD to reach US$ 165 million as against US$ 142.1 million.

Stocks that contributed significantly to the volumes include TRG, PTC, BYCO, HASCOL and ANL, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include TRG (+119 points), MTL (+16 points), ATRL (+15 points), PTC (+14 points) and HUBC (+13 points). Stocks that contributed negatively include OGDC (-46 points), ENGRO (-29 points), POL (-14 points), PPL (-13 points) and SYS (-9 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 506 points on Monday owing to improved sentiments in oil stocks and circular debt issue.

The Index closed at 45,407 points as against last Friday’s closing of 44,901 points, showing an increase of 506 points.

Analysts at Arif Habib Limited said that the market went down earlier in the session by 165 points that saw across the board mild selling pressure.

Short roll-over week and an outstanding amount of Rs. 38.8B at the start of the week caused some jitters. However, a reversal in energy chain stocks (E&P, Refinery, O&GMCs, Power) saw a rebound in the Index.

Anticipation of resolution of gas related circular debt helped energy chain to recover primarily. Among major contributors, OGDC, PPL and HASCOL hit upper circuit during the session, whereas PSO, HUBC also contributed to the positivity.

Similarly, Refinery sector stocks also performed well today. Among scrips, BYCO topped the volumes with 68.6 million shares, followed by PRL (40.8 million) and HASCOL (38.5 million).

Sectors contributing to the performance include E&P (+236 points), O&GMCs (+88 points), Tech (+78 points), Power (+44 points) and Fertilizer (+43 points).

Volumes declined from 484.6 million shares to 440.9 million shares (-9 percent DoD). Average traded value however increased by 1 percent to reach US$ 141.7 million as against US$ 140 million.

Stocks that contributed significantly to the volumes include BYCO, PRL, HASCOL, TRG and ASL, which formed 45 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+111 points), PPL (+101 points), TRG (+44 points), PSO (+44 points) and HUBC (+41 points). Stocks that contributed negatively include AICL (-12 points), MCB (-11 points), BAFL (-10 points), PIOC (-10 points) and NBP (-10 points).

KARACHI: The share market likely to trade in green during the next week owing to unchanged policy rate.

Analysts at Arif Habib Limited said that the market likely to trade in green due to: central bank keeping policy rate unchanged, which is positive for the stock market; and encouraging SBP projections as monetary policy committee noted that the current account deficit is expected to remain below 1 percent of GDP for FY21 while forecasting 3 percent GDP growth for FY21.

Further, appreciation of PKR/USD parity may also impact positively.

However, any surprise increase in domestic COVID-19 infection ratio may dampen investor’s sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.8x (2021) compared to Asia Pac regional average of 12.2x while offering a dividend yield of around 6.8 percent versus 2.8 percent offered by the region.

This week trading commenced on a positive note continuing the trend from last Friday due to

i) Government and their allies winning the seat of senate chairman and deputy chairman,

ii) Pakistan Democratic Movement postponing their long march which was expected to start from last week of March,

iii) Large Scale Manufacturing increasing by 7.85 percent in 7MFY21, and

iv) Continuous appreciation of Rupee against USD.

However, later in the week bears took charge and negative sentiments were fueled by

i) Anticipation of possible rate hike in the monetary policy statement,

ii) Rising cases of coronavirus as infection ratio surged to 8.0 percent, and

iii) Drop in international oil prices resulting in selling across heavy-weight E&P scrips.

The KSE-100 index closed at 44,901 points, up by 1,113 points or 2.54 percent WoW.

Contribution to the upside was led by i) Technology and Communication (296 points), ii) Commercial Banks (214 points), iii) Cements (107 points), iv) Oil and Gas Marketing Companies (89 points), and v) Refinery (61 points). Scrip-wise major gainers were TRG (227 points), HBL (140 points), SYS (66 points), UBL (64.01 points), and PSO (60 points).

Whereas, scrip-wise major losers were OGDC (41 points), ENGRO (28 points), BAHL (26 points), MARI (10 points) and PMPK (9 points).

Foreigners accumulated stocks worth of USD 3.04 million compared to a net buy of USD 3.64 million last week. Major buying was witnessed in Commercial Banks (USD 6.46 million) and Cement (USD 1.52 million).

On the local front, selling was reported by Banks (USD 11.21 million) followed by Companies (USD 8.18 million). That said, average daily volumes and traded value for the outgoing week were up by 11 percent and 4 percent to 483 million shares and USD 144 million, respectively.

KARACHI: The share market gained 177 points on Friday on anticipation of unchanged monetary policy rate, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,901 points as against previous day’s closing of 44,724 points, showing an increase of 177 points.

Analysts at Arif Habib Limited said that the market followed the trend shown yesterday by regressing 331 points in the first session, however, bounced back strongly and added a total increase of 448 points. The index closed +177 points.

Key monetary policy decision taken by the SBP today remained unchanged, which was announced after the end of session.

Refinery, Cement, Steel, O&GMCs performed in the later part of the session. Among scrips, BYCO led the table with 101.3 million shares, followed by KEL (38.2 million) and TRG (30.6 million).

Sectors contributing to the performance include Power (+49 points), Technology (+42 points), O&GMCs (+42 points), Refinery (+27 points) and Pharma (+22 points).

Volumes declined from 554 million shares to 484.6 million shares (-13 percent DoD). Average traded value also declined by 9 percent to reach US$ 140.0 million as against US$ 152.8 million.

Stocks that contributed significantly to the volumes include BYCO, KEL, TRG, PRL and UNITY, which formed 45 percent of total volumes.

Stocks that contributed positively to the index include HBL (+60 points), PSO (+31 points), TRG (+25 points), HUBC (+22 points) and SYS (+17 points). Stocks that contributed negatively include OGDC (-27 points), UBL (-24 points), INDU (-19 points), FFC (-16 points) and BAHL (-14 points).