Category: Stock & Commodity

KARACHI: The stock market gained 603 points on Thursday owing to positive sentiments prevailed over status of Pakistan in FATF grey list.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,965 points as against previous day’s closing of 45,362 points showing an increase of 603 points.

Analysts at Arif Habib Limited said that the market took the cue from UBL’s financial results (with a declaration of Rs. 9.5/share dividend), which were announced in the pre-open session and added a total of 642 points during the session.

Besides, anticipation of FATF’s decision on Pakistan status on grey list helped the index move up.

Sentiment remained buoyed throughout the session and price gains were observed across the board. Among scrips, TELE led the table with 35.8 million shares, followed by BYCO (34.5 million) and UNITY (33 million).

Sectors contributing to the performance include Banks (+160 points), Cement (+145 points), Technology (+95 points), Fertilizer (+42 points) and Power (+41 points).

Volumes declined from 557.5 million shares to 469.0 million shares (-16 percent DoD). Average traded value also dipped 12 percent to reach US$ 146.8 million as against US$ 16.6 million.

Stocks that contributed significantly to the volumes include TELE, BYCO, UNITY, KEL and TRG, which formed 35 percent of total volumes.

Stocks that contributed positively to the index include TRG (+96 points), LUCK (+87 points), UBL (+57 points), HBL (+50 points) and ENGRO (+27 points). Stocks that contributed negatively include MCB (-10 points), DAWH (-8 points), NML (-6 points), EFUG (-6 points) and PMPK (-5 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 366 points on Wednesday as market saw continuation of selling pressure in conventional top tier stocks and in addition bore pressure in roll-over heavy scrips as well.

The benchmark KSE-100 index closed at 45,363 points against previous day’s closing of 45,729 points, showing a decline of 366 points.

Analysts at Arif Habib Limited said that the market saw continuation of selling pressure in conventional top tier stocks and in addition bore pressure in roll-over heavy scrips (TRG & NETSOL) as well.

Similarly, NRL also saw significant selling that brought the stock to lower circuit a number of times, followed by recovery.

During the session, the index posted initial gains of 159 points, after which it went down by 523 points, eroding all the gains made earlier.

Banking sector saw an uptick in HBL, MCB and BOP. Cement sector stocks had LUCK posting nominal price gains. Among scrips, BYCO realized trading volume of 84.3 million shares, followed by TRG (47.3 million) and WTL (27.2 million).

Sectors contributing to the performance include E&P (-48 points), Fertilizer (-46 points), Textile (-41 points), Power (-38 points) and O&GMCs (-35 points).

Volumes declined from 718.2 million shares to 557.5 million shares (-22 percent DoD). Average traded value increased slightly by 3 percent to reach US$ 165 million as against US$ 159.2 million.

Stocks that contributed significantly to the volumes include BYCO, TRG. WTL, HUMNL and MDTL, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include HBL (+30 points), MEBL (+27 points), LUCK (+24 points), MCB (+14 points) and MARI (+11 points). Stocks that contributed negatively include OGDC (-32 points), ENGRO (-26 points), PSO (-24 points), NBP (-23 points) and HUBC (-22 points).

KARACHI: The stock market ended down by 161 points on Tuesday after trading in a narrow range activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,729 points as against previous day’s closing of 45,890 points showing a decline of 161 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between -227 points and +194 points, closing the session -161 points.

E&P sector remained positive throughout the session on the back of an uptrend in international crude oil prices, however, the upside in E&P stocks remained in check.

Banks, Cement, O&GMCs continued downtrend post announcement of half yearly / annual results. Technology stocks saw reversal after hitting session’s high and closed in red.

HASCOL announced increase in authorized share capital that insinuated a capital raise and saw profit booking with an eventual closing below LDCP. Among scrips, WTL led the table with 84.2 million shares, followed by BYCO (70.2 million) and MDTL (55.4 million).

Sectors contributing to the performance include E&P (+47 points), Fertilizer (+21 points), Textile (+21 points), Technology (-98 points) and Banks (-65 points).

Volumes declined from 722 million shares to 718.2 million shares (-0.5 percent DoD). Average traded value also declined by 2 percent to reach US$ 159 million as against US$ 162.1 million.

Stocks that contributed significantly to the volumes include WTL, BYCO, MDTL, TRG and DCL, which formed 38 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+24 points), PPL (+23 points), OGDC (+16 points), ILP (+16 points) and HMB (+12 points). Stocks that contributed negatively include TRG (-90 points), HBL (-43 points), MEBL (-17 points), PSO (-14 points) and THALL (-13 points).

KARACHI: The stock market witnessed a decline of 338 points on Monday owing start of plenary session of Financial Action Task Force (FATF), which will decide about status of Pakistan.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,890 points from last Friday’s closing of 46,228 points, showing a decline of 338 points.

Analysts at Arif Habib Limited said that the market came down on the first day of the roll-over week, contributed mostly by banking sector stocks, where the disappointment reigns due to poor dividend distribution and anticipation of similar subdued result from UBL, scheduled to be announced on Wednesday.

FATF plenary session starts today with the anticipation of status quo, which has also caused a bit of concern among investors holding on to the positions in hope of positive conclusion.

Cement, Banks, O&GMCs and Fertilizer sectors saw selling pressure, whereas Tech stocks performed well. Among scrips, HUMNL topped the volumes with 114.3 million shares, followed by BYCO (109.1 million) and TRG (46.4 million).

Sectors contributing to the performance include Banks (-218 points), E&P (-81 points), Cement (-44 points), Fertilizer (-23 points) and Power (-21 points).

Volumes increased from 694.8 million shares to 722.1 million shares (+4 percent DoD). Average traded value also increased by 4 percent to reach US$ 162.1 million as against US$ 156.4 million.

Stocks that contributed significantly to the volumes include HUMNL, BYCO, TRG, MDTL and DCL, which formed 45 percent of total volumes.

Stocks that contributed positively to the index include TRG (+105 points), GATM (+12 points), BYCO (+8 points), GHGL (+6 points) and FML (+5 points). Stocks that contributed negatively include HBL (-74 points), UBL (-59 points), OGDC (-34 points), PPL (-24 points) and BAHL (-22 points).

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.