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Category: Stock & Commodity

  • Stock market gains 266 points on improved trading in cement, chemical sectors

    Stock market gains 266 points on improved trading in cement, chemical sectors

    KARACHI: Stock market gained 266 points on Tuesday owing to improved trading activities in cement and chemical sectors.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,377 points as against 41,111 points showing an increase of 266 points.

    Analysts at Arif Habib Limited said that the market continued the bull run by adding another 290 points during the session and closed +266 points.

    Cement sector contributed the most on the index, whereby LUCK, PIOC and MLCF performed well.

    Chemical sector also saw improved performance with SPL, DOL hitting upper circuits and similar performance in LOTCHEM and EPCL.

    PSO declared financial results at the opening bell with a loss in the bottom line, however, the stock sustained selling pressure with PSO reverting to its opening price by the end of session.

    Vanaspati sector topped the volumes with 135.9 million shares, followed by Cement (113.8 million) and Cable (60.5 million). Among scrips, UNITYR2 realized 90.3 million shares, followed by PAEL (47.4 million) and UNITY (45.6 million).

    Sectors contributing to the performance include Cement (+52 points), Power (+46 points), Technology (+45 points), Chemical (+38 points) and Textile (+26 points).

    Volumes increased from 451.7 million shares to 759.3 million shares (+68 percent DoD). Average traded value also increased by 33 percent to reach US$ 130.6 million as against US$ 98 million.

    Stocks that contributed significantly to the volumes include UNITYR2, PAEL, UNITY, HASCOL and POWER1, which formed 36 percent of total volumes.

    Stocks that contributed positively to the index include TRG (+39 points), COLG (+26 points), MARI (+18 points), PKGS (+17 points) and KAPCO (+17 points). Stocks that contributed negatively include OGDC (-29 points), HBL (-29 points), PAKT (-22 points), PPL (-13 points) and UBL (-8 points).

  • Stock market gains 55 points amid selling pressure

    Stock market gains 55 points amid selling pressure

    KARACHI: The stock exchange gained 55 points on Monday amid selling pressure seen in banks and fertilizer sectors, analysts said.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,111 points as against 41,056 points showing an increase of 55 points.

    Analysts at Arif Habib Limited said that the market gained a total of 255 points during the session, however, due to selling pressure in Banks and Fertilizer sectors the index saw erosion of all the gains.

    The index closed 55 points, which was caused by an increase in stock prices of PPL and OGDC during last half hour.

    Cement sector performed well today, which saw DGKC, LUCK and KOHC contributing positively to the Index.

    Cement sector realized the most volumes with 81.4 million shares, followed by Banks (71.7 million) and Technology (61.1 million). Among scrips BIPL topped the volumes with TRG (40 million) and POWERR1 (32 million).

    Sectors contributing to the performance include Cement (+50 points), E&P (+46 points), Tobacco (+27 points), Power (+22 points), Technology (-53 points), Banks (-41 points) and Fertilizer (-20 points).

    Volumes increased from 238.5 million shares to 451.7 million shares (+89 percent DoD). Average traded value also increased by 94 percent to reach US$ 97.3 million as against US$ 50.2 million.

    Stocks that contributed significantly to the volumes include BIPL, TRG, POWERR1, PRL and HASCOL, which formed 35 percent of total volumes.

    Stocks that contributed positively to the index include MARI (+28 points), PPL (+28 points), PAKT (+27 points), LUCK (+26 points) and HUBC (+19 points). Stocks that contributed negatively include TRG (-46 points), UBL (-21 points), POL (-19 points), ENGRO (-13 points) and HBL (-12 points).

  • Stock market gains 219 points amid mixed trading

    Stock market gains 219 points amid mixed trading

    KARACHI: The stock market gained 219 points on Thursday amid mixed trading activities.

    The Index closed at 41,082pts as against 40,863pts showing an increase of 219pts.

    Analysts at Arif Habib Limited said that the market added another 414pts during the session and closed the session +219pts. Cement and Banking sector stocks played important role today.

    BOP’s financial results brought the stock price down. Refinery sector faced selling pressure that brought ATRL and NRL down after posting respective financial results yesterday.

    E&P companies also saw selling pressure however, trading volume remained the same relative to past sessions. Banking sector led the volumes table with 78.2M shares followed by Cement (74.6M) and Technology (59.8M). Among scrips, BOP topped the volumes with 39.7M, followed by TRG (36.9M) and KEL (28.4M).

    Sectors contributing to the performance include Technology (+50pts), Cement (+35pts), Power (+34pts), Textile (+31pts) and Chemical (+25pts).

    Volumes increased from 508.1mn shares to 544.7mn shares (+7% DoD). Average traded value however declined by 7% to reach US$ 119.1mn as against US$ 128.5mn.

    Stocks that contributed significantly to the volumes include BOP, TRG, KEL, ANL and MLCF, which formed 25% of total volumes.

    Stocks that contributed positively to the index include TRG (+37pts), HUBC (+30pts), COLG (+27pts), HBL (+17pts) and THALL (+13pts). Stocks that contributed negatively include MCB (-14pts), POL (-12pts), BOP (-10pts), BAFL (-7pts) and SNGP (-6pts).

  • Stock market gains 570 points as major activity seen in banks

    Stock market gains 570 points as major activity seen in banks

    KARACHI: The stock market gained 570 points on Tuesday as banking sector performed well on upcoming inflations numbers and monetary policy announcement.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,863 points as against 40,293 points showing an increase of 570 points.

    Analysts at Arif Habib Limited said that the market continued the ascent from yesterday’s level. Banking sector performed well today, which brought the index to higher level.

    Expectation of high CPI, scheduled to be announced next week and monetary policy decision in September are the major reasons for brisk activity in Banking sector.

    Announcement of POL’s financial results with high dividend payout resulted in POL reaching a new high.

    Overall, E&P stocks posted gains on the index. Refinery sector posted highest trading volumes with 65.9 million shares, followed by Cement (62.2 million) and O&GMCs (53.5 million). Among scrips, PRL topped the volumes with 48.9 million shares, followed by HASCOL (36.1 million) and KAPCO (18.5 million).

    Sectors contributing to the performance include Banks (+205 points), E&P (+86 points), Fertilizer (+55 points), Textile (+46 points) and Power (+38 points).

    Volumes declined from 535.1 million shares to 508.0 million shares (-5 percent DoD). Average traded value however increased by 6 percent to reach US$ 127.8 million as against US$ 120.8 million.

    Stocks that contributed significantly to the volumes include PRL, HASCOL, KAPCO, MLCF and TRG, which formed 27 percent of total volumes.

    Stocks that contributed positively to the index include HBL (+124 points), MCB (+61 points), UBL (+48 points), POL (+41 points) and ENGRO (+37 points). Stocks that contributed negatively include BAFL (-35 points), NESTLE (-11 points), ABL (-8 points), PMPK (-6 points) and PSEL (-5 points).

  • CDC facilitates overseas Pakistanis to invest in stocks

    CDC facilitates overseas Pakistanis to invest in stocks

    KARACHI: Central Depository Company of Pakistan Limited (CDC) to facilitate investment by Non-Resident Pakistanis in the Pakistan Stock Market through Roshan Digital Account with designated large-scale banks, said Badiuddin Akber, CEO-CDC.

    In a statement he further stated that Roshan Digital Account is a remarkable step taken by the State Bank of Pakistan (SBP) to facilitate overseas Pakistanis.

    Similarly, allowing NRPs to invest in Stock Market through Roshan Digital Account is a further facilitation for NRPs which is the result of SECP’s vision to create ease of doing business for investors.

    He applauded the collaborative efforts of both SECP and SBP through which this important milestone was achieved.

    Through this initiative, NRPs desirous of investing in the Stock Market of Pakistan will be able to do so through an efficient, secure and convenient mechanism.

    Since there is no additional requirement other than having a Roshan Digital Account for NRP to start investing in Stock market, they just need to provide consent to their respective Bank to link them with CDC.

    Within the next 24 hours, they will be able to trade without the need of any further documents or information as CDC is going to act as the information hub, connecting stock market with the banks.

    CDC is working on this project zealously with SBP designated banks. The service will be available to NRPs with the availability of the Roshan Digital Account, which is scheduled to be launched very soon.

  • Stock market gains 181 points in mixed trading activity

    Stock market gains 181 points in mixed trading activity

    KARACHI: The stock market gained 181 points on Monday in mixed trading activity during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,802 points as against 39,622 points showing an increase of 181 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note today and continued the momentum by adding a total of 203 points during the session.

    The index also saw a drop of 148 points from LDCP, but rebounded by the end of session.

    Cement, Pharma, Steel and O&GMC sectors helped post gains on the Index, among which Cement and Pharma stocks reacted to expectations of an increase in underlying product prices.

    Cement dispatches are also anticipated to be high on the back of higher PSDP utilization in Q1-FY21. E&P sector remained under pressure due to News of privatization of OGDC and PPL by GOP, whereas banking sector stocks followed the trend as in past several sessions.

    Technology sector led the volumes with 67 million shares, followed by Cement (61.9 million) and Misc (29.7 million). Among scrips, TRG topped the volumes with 29.8 million shares, followed DCL (23.4 million) and PACE (23.4 million).

    Sectors contributing to the performance include Cement (+73 points), Technology (+47 points), Pharma (+39 points), O&GMCs (+36 points), Inv Banks (+28 points) and E&P (-74 points).

    Volumes declined from 400.5 million shares to 371.3 million shares (-7 percent DoD). Average traded value, on the contrary, increased by 9 percent to reach US$ 88.6 million as against US$ 81.7 million.

    Stocks that contributed significantly to the volumes include TRG, DCL, PACE, WTL and PRL, which formed 31 percent of total volumes.

    Stocks that contributed positively to the index include LUCK (+39 points), TRG (+38 points), DAWH (+27 points), SEARL (+24 points) and NBP (+16 points). Stocks that contributed negatively include OGDC (-27 points), PPL (-21 points), POL (-19 points), FFC (-15 points) and MCB (-10 points).

  • Weekly Review: Market to materialize GIDC judgment

    Weekly Review: Market to materialize GIDC judgment

    KARACHI: The stock market likely to materialize decision of the apex court related to Gas Infrastructure Development Cess (GIDC) in coming week.

    Analysts at Arif Habib Limited said that although profit taking at the index was due, materialization of certain decisions recently (GIDC judgment and MOUs signed with IPPs) exacerbated the market performance.

    With that being said, Pakistan continues to fare better amongst regional and world markets on the COVID-19 front while positive economic developments such as augmenting remittances, growing FX reserves, stable currency, and revival in cyclical demand (Cement, Steel and Automobile) also paints a positive picture for the country.

    The benchmark KSE-100 index of Pakistan Stock Exchange is currently trading at a PER of 7.1x (2021) compared to Asia Pac regional average of 14.0x and while offering DY of ~6.3 percent versus ~2.7 percent offered by the region.

    Pressure was witnessed at the index this week, marking the end of a rally that spanned over 8 consecutive weeks.

    To recall, trading commenced on a negative note given possible curtailment of returns of Independent Power Producers (IPPs) by the incumbent government, under MOUs signed over the weekend.

    Whereas negative bearings from the GIDC judgment of the Supreme Court on industries (Fertilizer and Cement scrips in particular) from end of last week rolled over in the outgoing week.

    On the flip side, Oil Marketing Companies (OMCs) rallied on the back of expected clearance of the circular debt position. With that said, the equity bourse closed at 39,622 (down by 669 points / 1.7 percent WoW).

    Sector-wise positive contributions came from i) Oil & Gas Marketing Companies (39 points), ii) Pharmaceuticals (22 points), iii) Transport (9 points), iv) Paper & Board (5 points), and v) Vanaspati & Allied Industries (3 points). Whereas negative contributions came from Power Generation (218 points) and Fertilizer (165 points). Scrip-wise positive contributions were led by POL (33 points), FFC (32 points), SNGP (30 points), ABL (15 points), and SSGC (14 points).

    Foreign selling this week clocking-in at USD 4.0 million compared to a net buy of USD 8.7 million last week. Selling was witnessed in Banks (USD 3.2 million) and Cement (USD 2.9 million). On the domestic front, major buying was reported by Insurance Companies (USD 7.9 million and Individuals (USD 7.3 million). Average volumes settled at 441 million shares (down by a 24 percent WoW) while average value traded clocked-in at USD 107 million (down by 15 percent WoW).

  • Stock market sheds 247 points on heavy profit booking

    Stock market sheds 247 points on heavy profit booking

    KARACHI: The stock market witnessed heavy profit booking on Friday on reports of approval of privatization of two major energy companies.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,621 points as against 39,869 points showing a decline of 247 points (-0.6 percent DoD).

    Analysts at Arif Habib Limited said that the market took heavy bantering today on the pretext of profit booking as well as news of approval of privatization of OGDC and PPL.

    Both the E&P scrips saw significant selling pressure, besides Cement, O&GMCs, Pharma and Fertilizer sectors. Banking sector that bore selling pressure throughout the session saw recovery by the end, which helped KSE-100 index put recovery.

    Technology sector led the volumes with 74.5 million shares, followed by Cement (64.9 million) and Power (31.8 million). Among scrips, WTL posted 23.9 million shares, followed by ANL (21.7 million) and TPL (9.4 million).

    Sectors contributing to the performance include E&P (-89 points), Power (-45 points), Cement (-36 points), O&GMCs (-29 points) and Inv Banks (-13 points).

    Volumes increased from 394.6 million shares to 400.5 million shares (+2 percent DoD). Average traded value, however, registered a decline of 3 percent DoD to reach US$ 81.6 million as against US$ 84.5 million.

    Stocks that contributed significantly to the volumes include WTL, ANL, TPL, DCL and UNITY, which formed 25 percent of total volumes.

    Stocks that contributed positively to the index include NBP (+14 points), HBL (+12 points), ENGRO (+12 points), FCEPL (+10 points) and BAFL (+7 points). Stocks that contributed negatively include PPL (-52 points), OGDC (-40 points), HUBC (-37 points), PSO (-23 points) and DAWH (-14 points).

  • Stock market falls 286 points amid selling in major scrips

    Stock market falls 286 points amid selling in major scrips

    KARACHI: The stock market witnessed selling pressure in major scrips on Thursday and fell by 286 points.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,869 points as against 40,154 points showing a decline of 286 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note today with +29 points, however, couldn’t carry the momentum showed in the previous sessions.

    Selling activity was observed in Fertilizer, Cement, Refinery and O&GMCs and intensified by the end of session, especially after announcement of MCB’s and FABL’s financial results.

    FABL hit lower circuit after the announcement. Similarly, MCB lost ground after announcement, however, traded above lower circuit. Regional markets already showed bearish activity at the beginning of the session.

    Yesterday’s PIB auction also saw rise in shorter term tenors. Technology sector topped the volumes with 84.5 million shares, followed by Power (40.2 million) and Banks (36.7 million). Among scrips, TRG posted 30.4 million shares, followed by PTC (21 million) and UNITY (20 million).

    Sectors contributing to the performance include Cement (-81 points), Banks (-39 points), O&GMCs (-26 points), E&P (-24 points) and Power (-23 points).

    Volumes declined from 427.2 million shares to 394.3 million shares (-8 percent DoD). Average traded value also declined by 24 percent to reach US$ 84.4 million as against US$ 110.4 million.

    Stocks that contributed significantly to the volumes include TRG, PTC, UNITY, TPL and KAPCO, which formed 28 percent of total volumes.

    Stocks that contributed positively to the index include HBL (+19 points), ABL (+17 points), TRG (+14 points), KAPCO (+13 points) and FFC (+10 points). Stocks that contributed negatively include MCB (-68 points), HUBC (-31 points), LUCK (-29 points), ENGRO (-25 points) and PPL (-16 points).

  • Stock market witnesses range bound activity; sheds 30 points

    Stock market witnesses range bound activity; sheds 30 points

    KARACHI: The stock market ended down by 30 points on Wednesday in a range bound trading during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,154 points as against 40,184 points showing a decline of 30 points.

    Analysts at Arif Habib Limited said that the market traded range bound today between -119 points and +241 points.

    E&P largely added points on the index, whereas Cement and Banking sector stocks faced selling pressure. Fertilizer Sector remained under pressure throughout the session, but ENGRO’s financial results with a dividend of Rs. 8/share, helped Fertilizer sector stage recovery by the end of session.

    Cement sector posted volumes of 75.4 million shares, followed by Technology (54.5 million) and O&GMCs (40.3 million). Among scrips, PIBTL topped the volumes with 35.5 million shares, followed by PRL (27.5 million) and DGKC (26.8 million).

    Sectors contributing to the performance include Fertilizer (+63 points), E&P (+40 points), O&GMCs (+10 points), Cement (-25 points), Technology (-23 points), Autos (-21 points), Power (-20 points) and Banks (-20 points).

    Volumes declined from 458.8 million shares to 427.2 million shares (-7 percent DoD). Average traded value also declined by 10 percent to reach US$ 110.4 million as against US$ 123.2 million.

    Stocks that contributed significantly to the volumes include PIBTL, TRG, POWERR1, PRL and POWER, which formed 25 percent of total volumes.

    Stocks that contributed positively to the index include ENGRO (+40 points), POL (+18 points), EFERT (+14 points), OGDC (+10 points) and FFC (+10 points). Stocks that contributed negatively include TRG (-23 points), HUBC (-21 points), INDU (-10 points), DGKC (-10 points) and SHFA (-8 points).