Category: Stock & Commodity

KARACHI: The stock market may respond positively during the next week owing to expected healthy financial earnings.

Analysts at Arif Habib Limited said that the market will remain positive in the upcoming week given the continuation of the result season, where we expect healthy earnings.

Furthermore, FATF’s review of Pakistan’s progress on the Action Plan (meetings between February 22 and February 25, 2021) will be a key event for the market.

A decision to remove Pakistan from the grey list will likely be received very well by market participants.

Moreover, with the inflow of Remittances from abroad, the Pak Rupee is expected to remain stable.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.3x (2021) compared to Asia Pac regional average of 17.8x and while offering DY of 6.5 percent versus 2.5 percent offered by the region.

The market commenced on a positive note this week. The E&P sector briefly came under the limelight owing to a surge in the international oil prices (Arab Light reaching USD 64.16/bbl on Thursday).

Furthermore, reports of a 19 percent YoY jump in remittances for January 2021 and PM Imran Khan’s rejection of OGRA’s recommendation of hike in petroleum prices kept the sentiment positive.

Furthermore, with the IMF and Pakistan finally reaching an agreement on reforms, which will bring in funds of USD 500 million, further improved investor confidence.

However, bears briefly took over as the investors resorted to profit taking. The market closed at 46,228 points, gaining 419 points (up by 1 percent) WoW.

Sector-wise positive contributions came from i) Technology & Communication (250 points), ii) Cement (138 points), iii) Automobile Assembler (76 points), iv) Fertilizer (57 points) and iv) Oil & Gas Exploration Companies (48 points).

Whereas sectors that contributed negatively include i) Commercial Banks (214 points), Power Generation & Distribution (97 points) and Tobacco (6 points).

Scrip-wise positive contributors were TRG (209 points), LUCK (124 points), MTL (90 points), SYS (40 points) and OGDC (35 points) while negative contributors included HBL (164 points), HUBC (73 points), and MEBL (38 points).

Foreign selling continued this week clocking-in at USD 0.6 million compared to a net sell of USD 3.2 million last week. Selling was witnessed in Commercial Banks (USD 5.1 million) and Technology and Communication (USD 1.4 million).

On the domestic front, major buying was reported by Companies (USD 5.5 million and Individuals (USD 4.9 million). Average volumes arrived at 595 million shares (down by 19 percent WoW) while average value traded settled at USD 159 million (down by 6 percent WoW).

KARACHI: The stock market gained 85 points on Friday in a range bound trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,228 points from previous day’s closing of 46,143 points, showing a gain of 85 points.

Analysts at Toplines Securities said that the benchmark index witnessed a range-bound session making an intra-day high of 46,378 (up 0.51 percent) and a low of 46,137 (down 0.01 percent) to eventually close the day at 46,228 (up 0.18 percent).

The result season continued in full swing with MTL posting an above expected 2QFY21 EPS of 30.2 (up 218 percen tYoY/30 percent MoM) along with a cash dividend of PKR 50/share and a 12.5 percent bonus issue, after which the stock closed at 1298.14 (up 7.5 percent).

DGKC announced its 2QFY21 EPS of 2.6 (up 98 percent YoY) which was above industry expectation while FCCL posted its 2QFY21 EPS of 0.66 (up 371 percent YoY).

BOP posted its annual EPS of 2.6 (down 17 percent) and lower than industry consensus, however a higher than expected dividend of PKR 1.0/share boosted investor sentiment and the stock closed the day at 9.40 (up 4.91 percent).

Daily traded volume and value clocked in at 691.27 million shares (up 19.6 percent DoD) and PKR 24.78 billion (up 6.4 percent DoD) respectively. The volume leader for today was BYCO with 89.34 million shares traded.

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Thursday witnessed decline of 625 points following aggressive selling during the day.

The index closed at 46,143 points as against previous day’s closing of 46,768 points showing a decline of 625 points.

Analysts at Arif Habib Limited said that the market saw aggressive selling today after spate of financial result announcements which had consistent earnings but declared lesser dividends than anticipated.

Banking sector saw major attrition today, however, profit booking was also observed in Cement, O&GMCs and E&P sectors.

Market on Close (MOC) saw intense selling in Banking sector. Important results announced today included ENGRO, PSO, MEBL but ended the session at a low ebb due to the general disappointment. Among scrips, DSL topped the volumes with 58.6 million shares, followed by TELE (34.3 million) and KEL (29.3 million).

Sectors contributing to the performance include Banks (-247 points), Cement (-83 points), Fertilizer (-74 points), E&P (-68 points) and O&GMCs (-55 points).

Volumes declined from 701.7 million shares to 578.0 million shares (-18 percent DoD). Average traded value also declined by 19 percent to reach US$ 146.0 million as against US$ 179.4 million.

Stocks that contributed significantly to the volumes include DSL, TELE, KEL, WTL and ANL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include ANL (+10 points), GHGL (+5 points), AICL (+4 points), THALL (+3 points) and KTML (+3 points). Stocks that contributed negatively include HBL (-91 points), ENGRO (-58 points), PSO (-52 points), LUCK (-44 points) and MCB (-41 points).

KARACHI: The stock market experienced a downturn on Wednesday as the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) dropped by 100 points.

KARACHI: The stock market increased by 492 points on Tuesday owing to buying activities seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,868 points as against previous day’s closing of 46,376 points showing an increase of 492 points.

Analysts at Arif Habib Limitd said that brisk buying was observed in cement sector for the third day in a row that made major contribution on the points table.

Similar activity was witnessed in steel and technology sectors. Among banks, HBL saw buying in anticipation of annual results scheduled to be announced tomorrow causing the stock to close near session’s high.

Among scrips, HUMNL led the volumes with 55.4 million shares, followed by TELE (55.4 million) and MLCF (36.1 million).

Sectors contributing to the performance include Cement (+158 points), Bans (+129 points), Fertilizer (+58 points), Technology (+54 points) and E&P (+35 points).

Volumes increased from 486.3 million shares to 514.2 million shares (+6 percent DoD). Average traded value also increased by 2 percent to reach US$ 158.9 million as against US$ 155.6 million.

Stocks that contributed significantly to the volumes include HUMNL, TELE, MLCF, TRG and WTL, which formed 38 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+116 points), HBL (+52 points), MCB (+46 points), TRG (+46 points) and ENGRO (+29 points). Stocks that contributed negatively include HUBC (-10 points), POL (-9 points), UBL (-6 points), BAHL (-6 points) and INDU (-5 points).

KARACHI: The stock market gained 567 points on Monday owing to rise in foreign remittances and expectations of better financial results.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,375 points as against 45,808 points showing an increase of 567 points.

Analysts at Arif Habib Limited said that the market priced in the positive fundamentals relating to foreign remittances as well as the expectation of better quarterly results of the corporate sector, which has so far posted +60 percent growth.

Cement sector continued uptrend on the prospects of better results, whereas E&P sector benefited from an increase in international crude oil prices.

Selling pressure witnessed last week from institutional and foreign investors subsided in banks and fertilizer sectors that resulted in improved performance across the board.

EFERT declared financial results along with dividend that brought support to the benchmark Index from overall fertilizer sector.

Similarly, HBL & UBL rebounded cautiously during the session, adding contribution to the Index. Among scrips, WTL topped the volumes with 40.3 million shares, followed by MLCF (35.6 million) and TELE (28.7 million).

Sectors contributing to the performance include E&P (+116 points), Technology (+73 points), Cement (+67 points), Pharma (+48 points) and Banks (+46 points).

Volumes increased from 442.7 million shares to 486.4 million shares (+10 percent DoD). Average traded value also increased by 19 percent to reach US$ 155.9 million as against US$ 131.2 million.

Stocks that contributed significantly to the volumes include WTL, MLCF, TELE, ANL and HUMNL, which formed 31 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+54 points), TRG (+45 points), DAWH (+33 points), DGKC (+33 points) and SYS (+30 points).

Stocks that contributed negatively include HUBC (-8 points), FFC (-7 points), NBP (-6 points), KOHC (-6 points) and BAFL (-6 points).