Pkrevenue.com

Category: Stock & Commodity

  • Stocks fall 348 points on policy rate rise expectations

    Stocks fall 348 points on policy rate rise expectations

    KARACHI: The stocks fell by 348 points on Wednesday amid expectations of a rise in the key policy rate and high inflation. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,194 points from the previous day’s closing of 46,542 points.

    Analysts at Arif Habib Limited said that bearish momentum was witnessed today as aggressive tightening of 100 basis points expected in the upcoming Monetary Policy Statement (MPS) announcement.

    With mounting inflationary expectations and rising secondary market yields, across-the-board sell-off was observed just after the opening bell of the market mainly led by the cement, steel, and technology stocks.

    Accumulation was witnessed in the banking stocks as investors opted for a cautious approach. In the last trading hour, value hunting was seen by the institutional buyers.

    Sectors contributing to the performance include Cements (-135.74 points), Technology & Comm. (-84.04 points), E&Ps (-34.05 points) and OMCs (-31.42 points).

    Volumes decreased from 243.19 million shares to 238.49 million shares (-1.9 per cent DoD). Traded value also decreased by -2.9 per cent to reach US$ 58.3 million as against US$ 60.0 million.

    Stocks that contributed significantly to the volumes include SERF, TRG, GGL, TPLP and MERITR2.

    Stock market climbs up 807 points on IPPs payment
  • Stock market climbs up 807 points on IPPs payment

    Stock market climbs up 807 points on IPPs payment

    KARACHI: The stock market gained 807 points on Tuesday owing to the government’s decision to pay the second installment to power companies.

    The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,543 points as compared with the previous close of 45,736 points.

    Analysts at Arif Habib Limited said that bullish momentum was witnessed just after the opening bell of the market mainly led by the power sector as the Economic Coordination Committee (ECC) of the Cabinet approved Rs134.783 billion for payment to independent Power Producers (IPPs) on second installment (60 percent) as per payment mechanism.

    Appreciation of Pak rupee against dollar and PM decision not to increase the prices of petroleum products till November 30th gave investor confidence to the market.

    Cement and E&P stocks contributed the most in the bull run. In the last trading hour, the technology sector made the journey to the north as TRG hit the upper circuit due to a rumor of a buy-back of shares.

    On the institutional front, buying activity was witnessed across the board from the mutual funds.

    Sectors contributing to the performance include Cement (+189.3 points), Technology (121.3 points), E&Ps (+104.0 points), Power (+78.5 points), and Banks (63.0 points).

    Volumes increased from 172.9 million shares to 243.2 million shares (+40.7 per cent DoD). Traded value also increased by 103.1 per cent to reach US$ 59.7 million as against US$ 29.4 million.

    Stocks that contributed significantly to the volumes include GGL, TPLP, WAVES, TELE and SERF.

    KSE-100 index sheds 13 points in dull trading
  • KSE-100 index sheds 13 points in dull trading

    KSE-100 index sheds 13 points in dull trading

    KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) fell by 13 points on Monday in dull trading during the day.

    The index closed at 45,736 points as against last Friday’s closing of 45,749 points. showing a decrease of 12.9 points.

    Analysts at Arif Habib Limited said that the market remained dull today as a battle between the bull and bear was boxed in the range-bound area.

    Inflationary concerns feared the investors as weekly inflation witnessed the highest increase in three months and further weakening of Pak rupee against the dollar.

    In a bid to curb runaway inflation in the country, the State Bank of Pakistan (SBP) on Saturday raised the Cash Reserve Requirement (CRR) by one percentage point for scheduled banks for the first time in 13 years.

    The expectation of interest rate hike by SBP in the upcoming monetary policy caused profit booking in cyclical stocks and accumulation in banking stocks. On the flip side, activity from institutional investors remained lackluster.

    Sectors contributing to the performance include Cement (-29.8 points), Vanaspati & Allied (-19.2 points), Inv. Banks (-18 points), OMC’s (-17.5 points) and Power (-10.8 points).

    Volumes decreased from 192.5 million shares to 172.9 million shares (-10.2 per cent DoD). Traded value also decreased by 33.0 per cent to reach US$ 29.3 million as against US$ 43.72 million.

    Stocks that contributed significantly to the volumes include HASCOL, GGL, WTL, UNITY and FFLR1.

    Weekly Review: market to eye IMF package
  • Weekly Review: market to eye IMF package

    Weekly Review: market to eye IMF package

    KARACHI: The stock market to wait for the IMF package during the next week, which is current stalled. Analysts at Arif Habib Limited said that despite noise gaining traction on the economic front, they believe there is some silver lining; 1QFY22 fiscal deficit declined by 9.2 per cent YoY whereas local production also appears under control (auto sales went up by 49 per cent YoY and Fertilizer – Urea – offtake went up by 23 per cent YoY in October 2021).

    (more…)
  • Stocks sink 599 points on MSCI announcement

    Stocks sink 599 points on MSCI announcement

    KARACHI: The stocks fell by 599 points on Friday owing to announcement of semi-annual index review for the MSCI equity indexes.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,749 pints as compared with previous day’s close of 46,348 points.

    MSCI has announced the results of the November 2021 Semi-Annual Index Review for the MSCI Equity Indexes. As previously announced, the MSCI Pakistan Indexes will be reclassified from Emerging Markets to Frontier Markets in one step coinciding with this Index Review, effective from December 1, 2021. Pakistan’s in MSCI Frontier Markets will have a weight of 1.25 per cent compared to earlier simulated weight of 1.9 per cent.

    Analysts at Topline Securities said that the KSE-100 index extended its decline to close at 45,749 level, this decline in market can be attributed to MSCI announcement, where it notified Pakistan weight in MSCI Frontier Markets will have a weight of 1.25 per cent compared to earlier simulated weight of 1.9 per cent and three Pakistani securities will be added to the MSCI Frontier Markets Index (LUCK, HBL, MCB) compared to earlier simulated four constituents where OGDC was the fourth constituent.

    TRG, LUCK, OGDC, ENGRO and SYS lost value to weigh down on the index by 186 points.

    Traded volume and value for the day stood 192 million shares and Rs.7.66 billion, respectively.

    UNITY was today`s volume leader with 14.89 million shares.

    KSE-100 index sheds 282 points on PKR depreciation
  • CGT on shares disposal to be collected on Nov 19

    CGT on shares disposal to be collected on Nov 19

    KARACHI: The capital gain tax (CGT) on disposal of shares for the month of September 2021 will be collected on November 19, 2021, according to a notification issued on Thursday.

    The National Clearing Company of Pakistan Limited (NCCPL) communicated the stock brokers that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange (PSX) for the period September 01, 2021 to September 30, 2021, would be collected on Friday November 19, 2021 through respective settling banks of the Clearing Members.

    All Clearing Members are hereby requested to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.

    Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period September 01, 2021 to September 30, 2021, would also be collected from the Pakistan Mercantile Exchange on Friday November 19, 2021.

    Necessary details and reports for the period have already been made available, the NCCPL said.

    Clearing Members and Pakistan Mercantile Exchange are hereby requested to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

    In case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations, according to the notification.

    CGT rates on disposal of securities during Tax Year 2022
  • KSE-100 index sheds 282 points on PKR depreciation

    KSE-100 index sheds 282 points on PKR depreciation

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 282 points on Thursday on depreciation of Pak Rupee (PKR).

    The index closed at 46,348 points as against previous day’s closing of 46,630 points, showing a decrease of 282 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note but remained dull in the first half of the market.

    Concerns on inflation and weakening of Pak Rupee against dollar created uncertainty for investors to take fresh positions, which eventually resulted in a profit-booking scenario of last day positions in the second half session.

    Accumulation was witnessed in the banking sector as market participants eyeing rate hike in the upcoming monetary policy.

    Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, institutional activity remained lackluster.

    Sectors contributing to the performance include Commercial Banks (-60 points), E&P (-55 points), Technology (-40 points), Cement (-37 points) and Engineering (-19 points).

    Volumes decreased from 320.3 million shares to 269.5 million shares (-15.9 percent DoD). Traded value also decreased by 11 per cent to reach US$ 54.5 million as against US$ 61.2 million.

    Stocks that contributed significantly to the volumes include GGL, SERF, TELE, TPLP and WAVES.

    KSE-100 index gains 230 points on positive sentiments
  • KSE-100 index gains 230 points on positive sentiments

    KSE-100 index gains 230 points on positive sentiments

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 230 points on Wednesday as positive sentiments prevailed during the day.

    The index closed at 46,630 points as against previous day’s closing of 46,400 points.

    Analysts at Arif Habib Limited said that the index stayed in the green zone throughout the day as the market celebrated the statement from Advisor to Prime Minister on Finance that no proposal for the PM to seek help of International Monetary Fund (IMF) chief was under consideration, which eventually gave confidence to investors.

    Market opened on a positive note as traders took bet on cement, steel and technology stocks.

    Accumulation was witnessed in the banking sector as investors eyeing towards rate hike in the upcoming monetary policy.

    On the institutional front, buying activity was observed in the cement sector as inflows appeared through mutual funds.

    Sectors contributing to the performance include Fertilizer (+80 points), E&P (+70 points), Technology (+21 points), Pharma (+21 points) and Power (+20 points).

    Volumes decreased from 434.7 million shares to 320.3 million shares (-26.3 per cent DoD). Traded value also decreased by 25.3 per cent to reach US$ 61.6 million as against US$ 82.5 million.

    Stocks that contributed significantly to the volumes include FNEL, SERF, GGL, TELE and TPLP.

    Stocks plunge by 715 points on PKR weakening
  • Stocks plunge by 715 points on PKR weakening

    Stocks plunge by 715 points on PKR weakening

    KARACHI: The stocks plunged by 715 points on Tuesday owing to weakening in the value of Pak Rupee (PKR). The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46400 points as against previous day’s closing of 47,115 points showing a decrease of 715 points.

    Analysts at Arif Habib Limited said that bloodbath session was witnessed today due to the further weakening of Pak Rupee against dollar, concerns on inflation and resumption of foreign selling spree.

    Market opened on a bleak note after the news clocked in the morning that revival of USD six billion stalled IMF program for Pakistan hinges upon stamped clearance of IMF’s two departments before forwarding it in front of the Fund’s Executive Board.

    Textile sector continued to remain under pressure for second consecutive session over concerns on ending of subsidized gas supply.

    Institutional activity remained on the sell-side due to redemptions from the mutual fund industry.

    Accumulation was witnessed in the banking sector as KIBOR rates have witnessed a sharp rise in the past one month, where the spread between the 6M KIBOR and policy rate has touched a high of 162 basis points, increasing from its average spread of 50 basis points.

    In the last trading hour, sell-off was witnessed across the board mainly as investors opted for cautious approach.

    Sectors contributing to the performance include Commercial Banks (-123 points), Cement (-102 points), Technology (-79 points), E&P (-63 points) and Power (-46 points).

    Volumes increased from 364.9mn shares to 434.7 million shares (+19.1 per cent DoD). Traded value also increased by 11.6 per cent to reach US$ 83.1 million as against US$ 74.5 million.

    Stocks that contributed significantly to the volumes include TELE, FFLR1, FNEL, WTL and GGL.

    Stocks fall by 181 points on inflation concerns
  • AHL makes winning history at CFA Awards

    AHL makes winning history at CFA Awards

    KARACHI: Arif Habib Limited (AHL), Pakistan’s leading Brokerage and Investment Banking Firm, makes history by winning the awards of “Best Brokerage House”, “Best Corporate Finance House”, “Best Economic Research House” and “Best Research Analyst” by CFA Society Pakistan in their 18th Excellence Awards for 2020.

    The occasion was graced by Shaukat Tarin, Advisor to the Prime Minister on Finance and Revenue.

    These annual awards are considered capital markets’ benchmarks and are based on a confidential poll, surveying respondents comprising the buy-side asset managers and investment professionals from Pakistan’s financial sector including Banks, Asset Management Companies, DFIs and other financial Institutions.

    AHL has achieved the distinction of winning all the three House awards, Brokerage/Corporate Finance/Economic Research, in any award ceremony organised by the CFA Society of Pakistan.  AHL has received the Best Corporate Finance House award for seven consecutive years.

    Tahir Abbas, Head of Research at AHL, was recognized as the Best Research Analyst for the third time.

    During the ceremony, Shahid Ali Habib, CEO of Arif Habib Limited said, “We are humbled by the appreciation in CFA Society Pakistan Awards ceremony. We Alhamdulillah have made history by winning all the House awards, which has never happened in previous events. All the credit goes to our hardworking team and our clients who have put confidence in us.”

    Stocks fall by 181 points on inflation concerns