Category: Stock & Commodity

KARACHI: The stock market gained 341 points on Friday as investors gained confidence due to stability in Afghanistan. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,600 points as against last trading on August 17, 2021 at 47,258 points.

Analysts at Arif Habib Limited said that the market added another 341 points during the session today, after gaining traction earlier in the week.

Relatively stability in Afghanistan helped investors gain confidence, especially the decision to drop custom duties on different items that will particularly improve dispatches for Cement sector.

Today’s session was a reflection of that, with cement, Banks, steel, refinery, fertilizer and O&GMCs sectors contributing positively to the index.

On the flip side, E&P sector regressed due to significant drop in international crude oil prices witnessed in the past couple of days when PSX was off. Among scrips, GGL topped the volumes with 21.6 million shares, followed by BYCO (18.8 million) and TPL (10.4 million).

Sectors contributing to the performance include Cement (+182 points), Banks (+73 points), O&GMCs (+39 points), Engineering (+27 points) and Fertilizer (+15 points).

Volumes increased from 246 million shares to 299.1 million shares (+22 per cent DoD). Average traded value also increased by 14 per cent to reach US$ 80 million as against US$ 70 million.

Stocks that contributed significantly to the volumes include GG, BYCO, TPL, SILK and WTL, which formed 23 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+64 points), DGKC (+39 points), CHCC (+32 points), LUCK (+31 points) and PSO (+31 points). Stocks that contributed negatively include PSEL (-10 points), MARI (-9 points), TRG (-9 points), OGDC (-7 points) and NESTLE (-7 points).

Index gains 346 points on better Afghanistan situation

KARACHI: In a significant market recovery, the benchmark KSE-100 index surged by 346 points on Tuesday, settling at 47,258, buoyed by easing tensions in neighboring Afghanistan.

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KARACHI: The stock market may witnessed positive sentiments next week on expectation of strong results. However, concerns over COVID-19 fourth may keep the sentiment skittish, said analysts at Arif Habib Limited.

Furthermore, prevailing tension in Afghanistan with continuing withdrawal of US army by end of this month may exert pressure on the local bourse.

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 16.0x while offering a dividend yield of 6.6 per cent versus 2.4 per cent offered by the region.

The market commenced on a negative note given mounting concerns over current account. Moreover, recent depreciation of Pak Rupee against USD (closing at PKR 164) kept the momentum weak.

During the week, the market bounced back and cushioned the dip amid robust financial results of some scrips, massive incentives approved by Federal Govt. for technology and telecom sector, robust remittances (USD 2.7 billion in July 2021) and 114 per cent YoY surge in automobile sales in July 2021.

Albeit, the KSE-100 closed at 47,170 points, shedding 320 points (down by 0.7 per cent) WoW.

Sector-wise negative contributions came from i) Cement (112 points), ii) Oil & Gas Marketing Companies (67 points), iii) Oil & Gas Exploration (52 points), iv) Power Generation & Distribution (41 points) and v) Fertilizer (39 points).

Whereas, the sectors that contributed positively included i) Technology & Communication (47 points) and ii) Food & Personal Care Products (37 points). Scrip-wise negative contributors were LUCK (43 points), PPL (32 points), HUBC (32 points), PSO (32 points) and OGDC (31 points). Meanwhile, scrip-wise positive contribution came from TRG (83 points), MEBL (46 points), and FCEPL (44 points).

Foreign buying continued this week, clocking at USD 4.0 million against a net buy of USD 3.1 million last week. Buying was witnessed in Technology (USD 4.2 million), Banks (USD 0.9 million) and Fertilizer (USD 0.3 million). On the domestic front, major selling was reported by Insurance (USD 6.6 million) and Individuals (USD 3.0 million). Average volumes clocked-in at 307 million shares (down by 33 per cent WoW) while average value traded settled at USD 73 million (down by 14 per cent WoW).

Rupee falls to Rs164.01 against dollar

KARACHI: The stocks ended down by 107 points on Thursday amid trading in range bound activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,271 points as against previous day’s closing of 47,377 points.

Analysts at Arif Habib Limited said that after posting an uptick yesterday, the index again traded range bound between +179 points and -202 points.

Market poised for a clear trigger in disregard to the announcement of infrastructure projects by the Prime Minister Imran Khan, which could have impacted stock prices of listed Cement and Steel sectors.

Profit booking was observed across the board except for some blue chip stocks, with nominal price gains.

Ongoing earnings season has so far turned out to show muted response from Investors, especially with respect to earnings of Attock Group where the pertinent stocks gave nominal and temporary upside.

Among scrips, TRG realized total volumes of 19.2 million shares, followed by GGL (15 million) and WTL (11.8 million).

Sectors contributing to the performance include Banks (+46 points), Technology (+40 points), O&GMCs (-29 points), Power (-21 points) and E&P (-19 points).

Volumes declined from 382.6 million shares to 230.2 million shares (-40 per cent DoD). Average traded value also declined by 27 per cent to reach US$ 70.4 million as against US$ 95.8 million.

Stocks that contributed significantly to the volumes include TRG, GGL, WTL, TPLP and BYCO, which formed 29 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+42 points), TRG (+40 points), BAHL (+14 points), MLCF (+12 points) and HBL (+8 points). Stocks that contributed negatively include HUBC (-20 points), PSO (-17 points), PPL (-14 points), EFERT (-13 points) and LUCK (-12 points).

KSE-100 index up by 241 points on better earning hopes

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 241 points on Wednesday on better earning hopes in listed entities.

The index closed at 47,377 points as against 47,135 points showing, an increase of 241 points.

Analysts at Arif Habib Limited said that the market gained close to 500 points during the session.

Sentiment was buoyant on the expectation of healthy earnings by key listed entities which helped propped up the market.

Besides, incentives issued in favour of technology firms and finance minister’s notice regarding inquiry against stock brokers also helped develop positive sentiment.

Banks, O&GMCs, Cement, Power and Technology stocks performed well.

Refinery sector also performed well due to anticipation of refinery policy being finally put to approval of Cabinet.

Among scrips, GGL led the volumes with 27.6 million shares, followed by WT (26.7 million) and EPCL (25.9 million).

Sectors contributing to the performance include Technology (+99 points), Power (+26 points), Fertilizer (+24 points), Autos (+17 points) and Pharma (+15 points).

Volumes increased from 370 million shares to 382.6 million shares (+3 per cent DoD). Average traded value also increased by 29 per cent to reach US$ 95.8 million as against US$ 74 million.

Stocks that contributed significantly to the volumes include GGL, WTL, EPCL, BYCO and TELE, which formed 31 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+77 points), HUBC (+27 points), ENGRO (+26 points), SYS (+24 points) and INDU (+22 points). Stocks that contributed negatively include BAHL (-15 points), MCB (-9 points), EFERT (-6 points), CHCC (-5 points) and FABL (-5 points).

PSX witnesses range bound trading activity

KARACHI: Pakistan Stock Exchange (PSX) on Tuesday witnessed range bound trading activity during the day. The benchmark KSE-100 index gained 11 points to end at 47,135 points as against previous day’s closing of 47,124 points, showing an increase of 11 points.

Analysts at Arif Habib Limited said that the market traded range bound with an oscillation between -195 points and +149 points.

Activity remained tilted towards Technology sector, which helped the Index put an increment and in volume terms led the index.

Most of the volume went to WTL, however, NETSOL, TRG and AVN contributed to an uptick in Index. On a net basis, Cement, Textile, Pharma and Steel traded in the positive region, whereas E&P, Banks generally contributed to the negative side of the Index.

Among scrips, WTL topped the volumes with 42.9 million shares, followed by TELE (29.4 million) and ANL (28.4 million).

Sectors contributing to the performance include Power (-23 points), Banks (-16 points), Chemical (-13 points), Cement (+30 points), Food (+16 points) and Pharma (+11 points).

Volumes increased from 337.3 million shares to 370.0 million shares (+10 per cent DoD). Average traded value also increased by 7 per cent to reach US$ 74.1 million as against US$ 69.2 million.

Stocks that contributed significantly to the volumes include WTL, TELE, ANL, TPL and GGL, which formed 37 per cent of total volumes.

Stocks that contributed positively to the index include LUCK (+22 points), ENGRO (+15 points), FCEPL (+14 points), TRG (+12 points) and UNITY (+11 points). Stocks that contributed negatively include MCB (-18 points), COLG (-17 points), HUBC (-16 points), DAWH (-14 points) and SYS (-11 points).

KSE-100 index ends down by 366 points

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 366 points on Monday due to selling pressure during the day.

The index closed at 47,124 points as against last Friday’s closing of 47,490 points, showing a decline of 366 points.

Analysts at Arif Habib Limited said that the market took negative turn today, primarily due to the sell-off in technology stocks.

Institutional investors were on the selling side, partly due to redemptions and otherwise due to concerns on rising current account deficit and inflation on the back of possible tariff hike.

Technology, construction, steel sectors declined the most, whereas other sectors also bore the brunt because of weak sentiment.

Few prominent scrips that could hold ground include UBL, MCB, POL. Among scrips, WTL topped the volumes with 42.1 million shares, followed by FFL (17.4 million) and GGL (17.3 million).

Sectors contributing to the performance include Cement (-87 points), Technology (-69 points), Power (-30 points), Fertilizer (-29 points) and O&GMCs (-25 points).

Volumes declined from 499.7 million shares as against 337.3 million shares (-33 per cent DoD). Average traded value also declined by 17 per cent to reach US$ 69.2 million as against US$ 83.36 million.

Stocks that contributed significantly to the volumes include WTL, FFL, GGL, BYCO and TELE, which formed 32 per cent of total volumes.

Stocks that contributed positively to the index include MCB (+13 points), HMB (+9 points), HINOON (+4 points), FCEPL (+4 points) and ABOT (+3 points). Stocks that contributed negatively include TRG (-55 points), LUCK (-42 points), HUBC (-27 points), ENGRO (-24 points) and GHGL (-17 points).

KARACHI: The stock market likely to stay in green during the next week owing to lower interest rate regime. Analysts at Arif Habib Limited said that the market to continue trading in green. The low interest rate regime and pro-growth stance of the State Bank of Pakistan (SBP) should keep equities attractive.

Moreover, as mentioned earlier the result season should keep cyclical in limelight while reduced provisioning, and healthy fee income/capital gains should help fuel banking earnings.

That said, COVID fourth wave is a concern which may keep sentiment jittery.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2021) compared to Asia Pac regional average of 16.1x while offering a dividend yield of 6.6 per cent versus 2.4 per cent offered by the region.

The domestic bourse closed the week in green this week. The investment climate took a major sigh of relief when the trade deficit posted a 16 per cent month on month decline as per Pakistan Bureau of Statistics (PBS) data.

With the USD 2.8 billion SDR allocation expected from the IMF, the reserves position is expected to consolidate further which is significantly positive given uncertainty over the external account outlook.

Moreover, the result season is ongoing and cyclical sectors are likely to post healthy earnings on a yearly basis driven by the V-shaped economic recovery. The index closed at 47,490 points, (up 435 points week on week).

Sector-wise positive contributions came from i) Commercial Banks (193 points), ii) Oil & Gas Marketing Companies (52 points), and iii) Chemical (52 points). Meanwhile, the sectors that contributed negatively majorly include i) Food & personal care (21 points) and Tobacco (7 points).

Scrip-wise positive contributors were MEBL (84 points), MCB (43 points), and HBL (41 points). Whereas, scrip-wise negative contribution came from LUCK (41 points), PSEL (36 points), and UNITY (19 points).

Foreign buying was witnessed this week of USD 3.1 million against a net sell of USD 5.4 million last week. Buying was witnessed in Technology (USD 1.8 million), Cements (USD 1.3 million) and OMCs (USD 0.2 million). On the domestic front, major selling was reported by Funds (USD 10.6 million) and Insurance (USD 6.1 million). Average volumes clocked-in at 455 million shares (up by 12 per cent week on week) while average value traded settled at USD 85 million (down by 5 per cent week).

KARACHI: The share market ended down by 151 points on Friday in narrow range trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,489 points as against previous day’s closing of 47,640 points, showing a decline of 151 points.

Analysts at Arif Habib Limited said that the market largely traded in a narrow range and lost a total of 216 points.

Oil and gas marketing companies, Cement, Chemical, Refinery and Technology sectors continued seeing selling pressure from the previous couple of sessions.

LUCK saw a significant drop in the closing half hour, which brought its price below LDCP by a large margin.

Among scripts, PASL led the volumes with 66.9 million shares, followed by UNITY (35.5 million) and DSL (25.9 million).

Sectors contributing to the performance include Technology (-50 points), Cement (-34 points), Vanaspati (-25 points), Textile (-18 points), Banks (+28 points) and Glas (+21 points).

Volumes declined from 546.8 million shares to 499.7 million (-9 per cent DoD). Average traded value also declined by 11 per cent to reach US$ 83.5 million as against US$ 94.1 million.

Stocks that contributed significantly to the volumes include PASL, UNITY, DSL, WTL and FFL, which formed 36 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+21 points), GHGL (+21 points), BAFL (+11 points), MCB (+7 points) and INIL (+75 points). Stocks that contributed negatively include TRG (-32 points), UNITY (-25 points), LUCK (-20 points), SYS (-13 points) and HUBC (-12 points).