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Category: Stock & Commodity

  • Share market inches up in narrow range trading

    Share market inches up in narrow range trading

    KARACHI: The share market gained 47 points on Wednesday while trading in narrow band, analysts said.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,876 points as against 41,828 points showing an increase of 47 points.

    Analysts at Arif Habib Limited said that the market traded in a narrow range, moving between -73 points and +194 points during the session closing 47 points.

    While E&P sector saw retreat in OGDC and PPL, which has been the case since last several sessions on the back of weak crude oil prices, Banking sector saw renewed buying activity, especially in HBL and BOP.

    Among OMCs, PSO and HASCOL performed well today, besides Cement sector that showed positive activity in anticipation of healthy dispatches in the ongoing month.

    Post credit of UNITY right shares in investor accounts, the stock price dipped but recovered by day end. Banking sector saw high volumes of 194.2 million shares, followed by Vanaspati (51.8 million) and Technology (47.1 million). Among scrips, SILK registered trading volume of 167.4 million shares, followed by UNITY (51.7 million) and JSCL (36.2 million).

    Sectors contributing to the performance include E&P (-43 points), Textile (+30 points), Inv Banks (+19 points), O&GMCs (+17 points), Chemical (+12 points) and Fertilizer (+11 points).

    Volumes increased further from 441.3 million shares to 582.8m shares (+32 percent DoD). Average traded value dropped by 1 percent to reach US$ 77.5 million as against US$ 77.9 million.

    Stocks that contributed significantly to the volumes include SILK, UNITY, JSCL, PTC and HASCOL, which formed 54 percent of total volumes.

    Stocks that contributed positively to the index include DAWH (+23 points), COLG (+16 points), ILP (+13 points), JLICL (+7 points) and BOP (+7 points). Stocks that contributed negatively include OGDC (-17 points), PPL (-12 points), LUCK (-11 points), POL (-8 points) and UBL (-8 points).

  • Share market slips by 345 points on selling pressure

    Share market slips by 345 points on selling pressure

    KARACHI: The share market fell by 345 points on Tuesday as selling pressure witnessed across the board during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,829 points as against 42,174 points showing a decline of 345 points.

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  • Stock market ends down by 331 points over political noise

    Stock market ends down by 331 points over political noise

    KARACHI: The stock market fell by 331 points on Monday owing to political noise after the All Parties Conference (APC).

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,174 points from last Friday’s closing of 42,505 points, showing a decline of 331 points.

    Analysts at Topline Securities said that the bears took control of today’s session as the KSE 100 index tanked 331 points to close the day at 42,174 level.

    Investors remained cautious due to the roll-over week, political noise owing to the APC held over the weekend and the Monetary policy which is expected later in the evening.

    Major negative contributors which dragged the index lower were OGDC, ENGRO and UBL cumulatively denting the benchmark KSE100 Index by 70 points.

    Trading volume and value witnessed a decline of 16 percent each on DoD basis to 433 million shares and Rs11.3 billion respectively. ASL was the volume leader with 58.7 million shares.

  • Weekly Review: MPS to move stock market

    Weekly Review: MPS to move stock market

    KARACHI: The State Bank of Pakistan (SBP) is scheduled to issue monetary policy statement (MPS) on September 21, 2020 which will move the stock market during the next week.

    Analysts at Arif Habib Limited said that with SBP’s Monetary Policy Committee (MPC) expected to maintain a status quo stance, they expect the monetary policy announcement on Monday (September 21, 2020) to be a non-event for the market.

    In addition, expectations of PM Khan delivering another fiery speech at the UN General Assembly on September 25, 2020, fortifying Pakistan on the global map, should also aid sentiments.

    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 14.0x and while offering DY of ~5.9 percent versus ~2.7 percent offered by the region.

    Uncertainty over approval of FATF bills in the Parliament together with pressure on International oil prices during earlier part of the week perturbed sentiment at the domestic equity bourse.

    In addition, investors adopted a hibernation policy prior to next week’s Monetary Policy meeting (marking end of a 3 month hiatus by the SBP), which kept the volumes dry. Thus, the market closed down by 26 points WoW / -0.1 percent WoW to 42,505 level.

    Sector-wise negative contributions came from i) Insurance (47 points), ii) Commercial banks (38 points), iii) Power generation and distribution (37 points), iv) Tobacco (28 points), and v) Textile composite (25 points). Whereas positive sectoral contributions were led by i) E&P (61 points), ii) Chemical (25 points), and iii) Food and personal care products (21 points). Scrip-wise main laggards were: TRG (27 points), PPL (26 points), PAKT (25 points), KAPCO (25 points) and HBL (24 points).

    Foreigners offloaded stocks worth of USD 1.69 million compared to a net sell of USD 4.40 million last week. Major selling was witnessed in Commercial Banks (USD 2.41 million) and Food and personal Care Products (USD 2.32 million). On the local front, buying was reported by Insurance Companies (USD 10.56 million) followed by Mutual Funds (USD 3.56 million). That said, Average volumes settled at 537 million shares (down by a 28 percent WoW). While average value traded clocked-in at USD 93 million (depicting a decline of by 35 percent WoW).

  • Share market gains by 170 points on positive sentiments ahead of MPS announcement

    Share market gains by 170 points on positive sentiments ahead of MPS announcement

    KARACHI: The share market witnessed a robust increase of 170 points on Friday, propelled by the rebalancing of international stock markets and improved sentiments ahead of the forthcoming Monetary Policy Statement (MPS).

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  • PSX imposes restriction on New Peak Securities

    PSX imposes restriction on New Peak Securities

    KARACHI: Pakistan Stock Exchange (PSX) on Thursday imposed restriction on M/s. New Peak Securities (Private) Limited – TREC Holder – on failure to comply with the instructions of the exchange.

    In a notification, the PSX informed all market participants that M/s. Peak Securities (Private) Limited – TREC Holder, PSX (New Peak) failed to comply with the instructions of the exchange, which is a non compliance of clause 20.5.1 of PSX Regulations.

    The said clause is reproduced as:

    “20.5.1. Pursuant to Clause 20.4 hereinabove, the CRO, sub-committee of RAC or RAC, as the case may be, may initiate disciplinary actions against a TRE Certificate Holder under sub-clause 20.5.2 when it is prima facie established that such TRE Certificate Holder has breached one or more of the PSX Regulations or failed to comply with a policy, procedure, order, notice, guideline, direction, manual, decision, instruction or ruling of the Exchange or failed to provide any required information or provided incomplete, false, forged or misleading information to the Exchange as may be required from time to time.”

    In order to protect the interest of investing public, the exchange, after providing due hearing opportunity, has decided to “impose restriction on opening of new clients’ accounts” with immediate effect alongwith financial penalty on New Peak, under clause 20.5.2 of PSX Regulations.

    The said clause is reproduced as:

    “20.5.2. GENERAL DISCIPLINARY ACTIONS:
    Disciplinary actions that may be taken pursuant to sub-clause 20.5.1 are as follows:
    (a) Issue a warning in writing to act more carefully and vigilantly;
    (b) Reprimand in writing that the conduct warrants censure;
    (c) Impose a fine;
    (d) Impose any one or more conditions or restrictions;
    (e) Mandate educational qualification, training or such other program as may be determined by the relevant authority to be undertaken or implemented by the Broker for its employees;
    (f) Direct to take remedial actions to rectify the breach including appropriate action(s) against any of its employees concerned behind such breach, whether directly or indirectly ; and/or take such other action as the relevant authority may deem appropriate;
    (g) Suspend any or all trading terminals.”

    The PSX said that the enforcement action has been taken without prejudice to the right of the exchange to further initiate any inquiry, special audit with expanded, restricted or different scope to take any punitive action against New Peak in accordance with relevant regulations on matters subsequently investigated or otherwise brought to the knowledge of the exchange.

  • Share market gains 53 points amid selling pressure

    Share market gains 53 points amid selling pressure

    KARACHI: The share market gained 53 points on Thursday despite selling pressure seen in the market during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,334 points as against 42,282 points showing an increase of 53 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note with +193 points and added a total of 350 points on the index.

    Selling pressure eroded most of the gains by the end of session, closing the index +53 points. Financial results of DGKC helped the stock post price gains.

    Among technology stocks, PTC hit upper circuit whereas Chemical sector helped EPCL touch recent times high. Technology sector topped the volumes with 108.6 million shares, followed by Power (47.5 million) and Vanaspati (45.2 million). Among scrips, KEL led the table with 70.5 million shares, followed by HASCOL (37.4 million) and DCL (28.1 million).

    Sectors contributing to the performance include Chemical (+23 points), Technology (+17 points), E&P (+14 points), Insurance (-15 points), Pharma (-7 points).

    Volumes increased from 489.6 million shares to 508.7 million shares (+4 percent DoD). Average traded value also increased by 3 percent to reach US$ 90.8 million as against US$ 87.9 million.

    Stocks that contributed significantly to the volumes include PTC, UNITY, HASCOL, FFL and PIBTL, which formed 42 percent of total volumes.

    Stocks that contributed positively to the index include EPCL (+20 points), POL (+14 points), PTC (+13 points), PSO (+13 points) and ENGRO (+12 points). Stocks that contributed negatively include FFC (-12 points), AICL (-9 points), JLICL (-8 points), NESTLE (-6 points) and ABL (-5 points).

  • Stock market witnesses selling pressure over FATF bill

    Stock market witnesses selling pressure over FATF bill

    KARACHI: The stock market fell by 64 points on Wednesday as investors’ sentiments shaken over FATF bill, which required parliamentary approval.

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  • Stock market falls by 185 points on profit booking

    Stock market falls by 185 points on profit booking

    KARACHI: The stock market fell by 185 points on Tuesday as investors opted for profit booking during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,346 points as against 42,531 points showing a decline of 185 points.

    Analysts at Arif Habib Limited said that the market opened on a positive today, maintained positive momentum during the session but selling pressure in the end brought the index down.

    Profit booking continues from past sessions, however, Investors have generally been switching positions from stocks that have nearly doubled from their recent bottoms (Cement) into Stocks that have had muted performance (Banks & O&GMCs).

    ENGRO saw selling pressure due to it being Ex-dividend, however, prospects of increase in price of fertilizer kept the buying interest alive. Cement sector stocks performed well during the session on the back of increase in cement prices in North region, however, profit booking brought the prices down again.

    O&GMCs topped the volumes with 74.2 million shares, followed by Cement (74.1 million) and Power (63.4 million). Among scrips, HASCOL led the volumes with 63.7 million shares, followed by KEL (54 million) and BYCO (42.6 million).

    Sectors contributing to the performance include Banks (-66 points), Fertilizer (-50 points), Inv Banks (-25 points), Technology (-25 points) and Insurance (-16 points).

    Volumes increased from 509.5 million shares to 662.8 million shares (+30 percent DoD). Average traded value also increased by 28 percent to reach US$ 111.9 million as against US$ 87.5 million.

    Stocks that contributed significantly to the volumes include HASCOL, KEL, BYCO, BOP and UNITY, which formed 36 percent of total volumes.

    Stocks that contributed positively to the index include MTL (+13 points), NESTLE (+11 points), MLCF (+10 points), THALL (+7 points) and EPCL (+6 points). Stocks that contributed negatively include ENGRO (-39 points), DAWH (-22 points), UBL (-21 points), HBL (-20 points) and TRG (-18 points).

  • Stock market ends unchanged amid range bound trading

    Stock market ends unchanged amid range bound trading

    KARACHI: The stock market ended unchanged on Monday as the market traded witnessed range bound activity.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed closed at 42,531 points same as of Friday.

    Analysts at Arif Habib Limited said that the market traded range bound between -163 points and +190 points.

    Selling pressure was observed in Cement, E&P, Steel, Refinery sectors, whereas Banks and OMCs (PSO, HASCOL) saw gradual accumulation causing the Index to post gains during the trading session.

    Volumes remained relatively low, considering the recent spate of 700 million volumes that the bourse witnessed previous week and so. O&GMCs posted highest trading volumes of 80 million shares, followed by Banks (61.3 million) and Food (54.7 million).

    Among scrips, HASCOL topped 67.1 million shares, followed by PIBTL (42.9 million) and FFL (29.8 million).

    Sectors contributing to the performance include Banks (+19 points), O&GMCs (+17 points), Power (+12 points), E&P (-14 points) and Technology (-14 points).

    Volumes declined further from 526.2 million shares to 509.5 million shares (-3 percent DoD). Average traded value also declined by 17 percent to reach US$ 87.5 million as against US$ 105.8 million.

    Stocks that contributed significantly to the volumes include HASCOL, PIBTL, FFL, UNITY and BOP, which formed 36 percent of total volumes.

    Stocks that contributed positively to the index include PSO (+17 points), HBL (+17 points), HUBC (+17 points), MCB (+15 points) and HASCOL (+12 points). Stocks that contributed negatively include PPL (-23 points), DGKC (-16 points), KEL (-9 points), SYS (-8 points) and SNGP (-8 points).