Category: Stock & Commodity

KARACHI: The stock market gained 200 points on Tuesday owing to enhanced trading activity seen in cement and energy sectors.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 46,287 points as against 46,088 points showing an increase of 200 points.

Analysts at Arif Habib Limited said that the market continued the buoyant mood with an increase of 310 points during the session, and ending 200 points.

Cement sector performed well today on the back of an expectation of increase in Cement price / bag.

Similarly, E&P and O&GMCs performed due to an uptick in international crude price as well as a pending decision over revision of OMCs dealer margins, which is expected to be taken in tomorrow’s ECC meeting.

Fertilizer Sector also performed due to recent price hike in DAP prices. Tech stocks continued rallying today, which helped the Index post consistent gains.

Among scrips, JSBL led the volumes with 65.3 million shares, followed by TRG (36.2 million) and FFBL (36 million).  

Sectors contributing to the performance include Cement (+94 points), Technology (+43 points), O&GMCs (+35 points), Chemical (+30 points) and E&P (+22 points).

Volumes increased from 470.1 million shares to 603.2 million shares (+28 percent DoD). Average traded value also increased by 27 percent to reach US$ 166.8 million as against US$ 131 million.

Stocks that contributed significantly to the volumes include JSBL, TRG, FFBL, HASCOL and UNITY, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include TRG (+37 points), PSO (+26 points), PIOC (+22 points), LUCK (+21 points) and POL (+17 points). Stocks that contributed negatively include DAWH (-15 points), AGP (-12 points), UBL (-10 points), FFBL (-9 points) and BAFL (-9 points).

KARACHI: The stock market is likely to stay in green during the next week owing to the central bank decision to keep policy rate intact at 7 percent.

Analysts at Arif Habib Limited hoped that the market to trade in green due to

i) Central bank keeping policy rate unchanged while also hinting at status quo stance in the near term, which is positive for the stock market,

ii) encouraging SBP projections as current account deficit is expected to remain below 1 percent of GDP for FY21,

iii) slowdown in Covid-19 infection ratio, and

iv) stable PKR/USD parity.

However, once again bears took charge and negative sentiments were fueled by

i) announcement of current account deficit after five months,

ii) likely increase in electricity tariff by PKR 1.95/KwH (notification awaited), and

iii) CCoE’s proposal to discontinue natural gas supply for captive power generation. Our preferred stocks are OGDC, HUBC, HBL, MCB, FFC, LUCK, ACPL, PSO, ENGRO, MCB, INDU, UBL, and NML.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2021) compared to Asia Pac regional average of 17.7x while offering a dividend yield of ~6.4 percent versus ~2.6 percent offered by the region.

This week trading commenced on a negative note due to

i) worsening gas supply situation in the country which might result in suspension of gas supply to industries,

ii) decline in international crude prices (negative sentiment in E&P sector), and

iii) rising political pressure as PDM wanted to protest in front of Election Commission of Pakistan to probe foreign funding case.

However, the index displayed a rebound on the next trading day and recovered lost points.

However, once again bears took charge and negative sentiments were fueled by

i) current account deficit after five months,

ii) government increased electricity tariff by PKR 1.95, and

iii) CCoE approves Petroleum Division’s proposal for discontinuation of natural gas supply for captive power generation.

The KSE-100 index closed at 45,868 points, down by 63 points or 0.14 percent WoW.

Contribution to the downside was led by

i) Oil and Gas Exploration Companies (143 points),

ii) Fertilizer (43 points),

iii) Oil and Gas Marketing (33 points),

iv) Automobile Assembler (25 points), and

v) Pharmaceuticals (16 points). Scrip-wise major losers were PPL (65 points), OGDC (59 points), POL (59 points), ENGRO (31 points), and MCB (22 points).

Whereas, scrip-wise major gainers were TRG (110 points), MARI (41 points), BAHL (34 points), KTML (29 points) and ICI (26 points).

Foreigners accumulated stocks worth USD 5.51 million compared to a net sell of USD 2.10 million last week. Major buying was witnessed in Technology and Communication (USD 3.24 million) and Power Generation and Distribution (USD 2.43 million).

On the local front, selling was reported by Mutual Funds (USD 19.90 million) followed by Broker Proprietary Trading (USD 7.46 million).

That said, average daily volumes and traded value for the outgoing week were down by 25 percent and 9 percent to 510 million shares and USD 118 million, respectively.

KARACHI: The share market ended down by 116 points on Friday in a range bound trading activity.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,868 points as against previous day’s closing of 45,984 points showing a decline of 116 points.

Analysts at Arif Habib Limited said that the market oscillated between +132 points and -294 points, ending the session down 116 points.

Global stock markets took breather since last evening, which trickled in regional markets as well.

KSE-100 saw across the board selling on the concern of monetary policy decision, which was announced in the last half hour of the session, besides the redemptions from mutual funds.

Increase in electricity tariff also affected investor sentiment towards manufacturing concerns. Among scrips, KEL realized the most volumes with 54 million shares, followed by FFL (24.6 million) and ICIBL (23.7 million).

Sectors contributing to the performance include E&P (-51 points), Fertilizer (-21 points), Technology (-19 points), O&GMCs (-16 points) and Power (-13 points).

Volumes declined from 606.3 million shares to 430.6 million shares (-29 percent DoD). Average traded value also declined by 12 percent to reach US$ 98.5 million as against US$ 111.5 million.

Stocks that contributed significantly to the volumes include KEL, FFL, ICIBL, PIBTL and FFBL, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include SYS (+21 points), KTML (+15 points), FABL (+13 points), FFBL (+12 points) and INIL (+11 points).

Stocks that contributed negatively include TRG (-40 points), ENGRO (-16 points), MARI (-16 points), PPL (-14 points) and OGDC (-14 points).

KARACHI: The share market gained 307 points on Thursday as buying activities seen on positive sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,984 points as against 45,677 points showing an increase of 307 points.

Analysts at Arif Habib Limited said that the market went up today with 467 points during the session, closing the session +307 points.

The renegotiation of the government with power sector on resolution of circular debt has paved the way for HUBC, KAPCO and KEL to perform.

On the other hand, a pause in institutional selling (due to redemptions) helped the Index recover today. Banking and E&P sectors recovered from selling observed in past 2 sessions, besides Cement sector that performed in anticipation of better quarterly results.

Among scrips, KEL led the volumes with 143.8 million shares (24 percent of total volumes), followed by HUMNL (43.2 million) and PIBTL (31.4 million).  

Sectors contributing to the performance include Banks (+69 points), Cement (+67 points), Technology (+41 points), Textile (+34 points) and Fertilizer (+32 points).

Volumes increased from 476.6 million shares to 606.3 million shares (+27 percent DoD). Average traded value however declined by 6 percent to reach US$ 111.6 million as against US$ 119.1 million.

Stocks that contributed significantly to the volumes include KEL, HUMNL, PIBTL, FFL and UNITY, which formed 43 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+43 points), ENGRO (+27 points), TRG (+25 points), KTML (+24 points) and BAHL (+23 points). Stocks that contributed negatively include MARI (-11 points), UNITY (-9 points), SHFA (-5 points), BAFL (-4 points) and JLICL (-4 points).

KARACHI: The share market fell by 226 points on Wednesday owing to profit taking observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,677 points as against previous day’s closing of 45,903 points, showing a decline of 226 points.

Analysts at Arif Habib Limited said that the market dipped further by 358 points during the session courtesy of redemption at mutual funds which prompted selling in Banks, E&P, Power, Cement and O&GMCs.

Investors preferred switching to Food, Chemical and Power sectors as safe haven. E&P stocks went contrary to the trend of international crude oil prices, which went up overnight.

Textile sector also saw selling pressure, partly due to yet another deferral of the most awaited textile policy. Among scrips, SILK topped the volumes with 42.6 million shares, followed UNITY (40.9 million) and HUMNL (38.5 million).  

Sectors contributing to the performance include E&P (-62 points), Fertilizer (-47 points), Banks (-45 points), Cement (-30 points) and Technology (-30 points).

Volumes declined from 491.7 million shares to 476.6 million shares (-3 percent DoD). Average traded value also declined by 4 percent to US$ 119.2 million as against US$ 124.2 million.

Stocks that contributed significantly to the volumes include SILK, UNITY, HUMNL, POWER and TRG, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include HBL (+34 points), UNITY (+22 points), MARI (+9 points), PAKT (+7 points) and APL (+6 points). Stocks that contributed negatively include OGDC (-34 points), HUBC (-32 points), ENGRO (-29 points), MCB (-24 points) and PPL (-22 points).

The Pakistan stock market witnessed a modest gain of 177 points amid range-bound trading activities, with the benchmark KSE-100 index closing at 45,903 points, up from the previous day’s close of 45,726 points.

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KARACHI: The Pakistan Stock Exchange (PSX) experienced a downturn on Monday, with the share market closing lower by 204 points as selling pressure dominated trading activities throughout the day.

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Karachi: The stock market likely to remain positive during the next week on the back of healthy earnings expectations, analysts said.

The analysts at Arif Habib Limited said that the market to remain positive on the back of healthy earnings expectations, which will drive the index.

Moreover, the ongoing rollout of vaccines across the globe will most likely keep equity markets buoyant.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2021) compared to the Asia Pac regional average of 17.9x and while offering DY of around 6.2 percent versus 2.5 percent offered by the region.

The market commenced on a positive note briefly on the back of the government and power companies reaching a master agreement, breaching 46,000 level on Monday.

Governor SBP’s statement regarding IMF program revival kept sentiment positive. Furthermore, the announcement of auto sales figures by PAMA (15 percent YoY growth in December 2020) ignited bullish sentiments in the Automobile Assemblers Sector.

Expectations of better corporate results particularly amongst cyclical sectors kept the overall sentiment buoyant.

The KSE-100 Index closed at 45,931 points, gaining 277 points (up 0.61 percent) WoW.

Sector-wise positive contributions came from:

i) Technology & Communication (168 points),

ii) Power Generation & Distribution (66 points),

iii) Engineering (41 points),

iv) Glass & Ceramic (37 points), and

v) Textile Composite (34 points).

Whereas, sectors that contributed negative included:

i) Fertilizer (63 points),

ii) Tobacco (30 points) and

iii) Oil & Gas Exploration Companies (27 points).

Scrip-wise positive contributions were led by i) SYS (89 points), ii) TRG (82 points), iii) INIL (42 points), iv) KAPCO (42 points), and v) GHGL (37 points).

Foreign selling this week clocking-in at USD 2.1 million compared to a net buy of USD 3.4 million last week. Selling was witnessed in Cement (USD 0.9 million) and FMCG (USD 0.8 million).

On the domestic front, major buying was reported by Individuals (USD 24.0 million and Banks / DFIs (USD 1.2 million).

Average volumes arrived at 682 million shares (up by 9 percent WoW). Whereas, average value traded settled at USD 129 million (down by 16 percent WoW).