Category: Stock & Commodity

KARACHI: The stock market likely to stay positive during next week due to resumption of business activities after ease in lockdown.

Analysts at Arif Habib Limited said that the market to remain positive as companies resume operations following easing of the lockdown which is helping revive sentiment in the bourse.

Moreover a growth focused budget is expected which should also help keep confidence upbeat.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.1x (2020) compared to Asia Pac regional average of 11.9x and while offering DY of ~8.3 percent versus ~3.0 percent offered by the region.

This week was a two-day trading week following the Eid holidays. Investors are expecting the upcoming budget to be focused upon measures to uplift the economy.

However stringent revenue targets are likely to be a major deterrent. That said, news coming in this week has been suggestive of no new additional taxation measures. The index went up by 95 points WoW to settle at 33,931 points.

Sector-wise positive contributions came from i) Technology & Communication (+46pts), ii) Cement (+43pts), and iii) Pharmaceuticals (+39pts) while negative contributions came from Fertilizers (-43pts), and Commercial Banks (-39pts). Scrip-wise positive contributions were led by TRG (+28pts), OGDC (+26pts), and LUCK (+23pts) while ENGRO (-49pts) and UBL (-30pts) remained laggards.

Foreign offloading during the week arrived at USD 2.42 million compared to a net sell of USD 8.77 million last week.

Selling was witnessed in Fertilizer (USD 2.54 million), Textile Composite (USD 1.81 million) and Banks (USD 1.01 million).

On the domestic front, Individual accumulated stocks worth USD 3.93 million, while buying by Broker Proprietary Trading arrived at USD 0.62 million.

Average volumes settled at 214 million shares (up by 4 percent WoW) while average value traded clocked-in at USD 54 million (up by 13 percent WoW).

KARACHI: The stock market gained 236 points on Friday owing to slight improvement in international oil prices, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,931 points as against 33,695 points showing an increase of 236 points.

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KARACHI: The stock market fell by 141 points after Eid Holidays on Thursday as international crude prices slipped, dealers said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,695 points as against 33,836 points showing a decline of 141 points.

Analysts Arif Habib Limited said that the market opened on a negative today and maintained the negative trajectory, realizing a loss of 238 points during the session and closing -141 points.

International crude prices slipped overnight to trade near US$31.5/bbl, which was approx. 4 percent down from the level KSE100 saw on last Thursday, before the market closed for long weekend (due to Eid).

Besides, Cement and Banking sectors remained under pressure throughout the session for want of a clear positive trigger.

Off-board scrips, TRG, UNITY, PAEL, HUMNL remained in the limelight in addition to Pharma sector (primarily SEARL and GLAXO), which has consistently shown performance on the back of Covid-19 cures.

Technology sector led the volumes with 36.9 million shares, followed by O&GMCs (28.8 million) and Vanaspati (21.2 million). Among scrips, TRG topped the index with 24.7 million shares, followed by HASCOL (24.4 million) and UNITY (21.1 million).

Sectors contributing to the performance include Banks (-76 points), E&P (-56 points), Fertilizer (-22 points), Chemical (-16 points), Power (-14 points), Pharma (+31 points) and Technology (+21 points).

Volumes declined further from 147.2 million shares to 194.6 million shares (+32 percent DoD). Average traded value also increased by 25 percent to reach US$ 45.1 million as against US$ 36.4 million.

Stocks that contributed significantly to the volumes include TRG, HASCOL, UNITY, PAEL and MLCF, which formed 48 percent of total volumes.

Stocks that contributed positively to the index include SEARL (+21 points), TRG (+19 points), GLAXO (+11 points), MARI (+9 points) and KAPCO (+7 points). Stocks that contributed negatively include OGDC (-27 points), UBL (-27 points), PPL (-26 points), HBL (-24 points), and HUBC (-18 points).

KARACHI: Stock market may witness enhanced activities after Eid ul Fitr, analysts said.

The analysts at Arif Habib Limited said that provisional estimates of the National Accounts Committee (NAC) suggest slowdown in GDP at a negative 0.4 percent during the ongoing year.

Although investors struggle to find silver linings at present, expectations of a rebound next year (IMF forecasts GDP growth at 2 percent in FY21) marks the upcoming Federal Budget a key event for the market.

“We believe commencement of economic activity amid ease in lockdown as well growth boosting budgetary measures could potentially reinvigorate the market momentum post Eid break,” the analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.1x (2020) compared to Asia Pac regional average of 11.4x while offering a dividend yield of around 8.3 percent versus around 3.1 percent offered by the region.

Chronic economic concerns given wildfire-like spread of COVID-19 cases, weak external account data (CAD at USD 572 million in April 2020; exports / remittances down by 23.5 percent / 5.5 percent MoM) as well as profit-taking near the key 34,000 index level, overshadowed the SBP’s monetary response to Corona induced decline in economic activity (another 100bps cut in policy rate to 8 percent).

Moreover, market participants appeared weary of building long positions prior to the Eid break and hence, the benchmark equity bourse closed at 33,837 points (down by 172 points / 0.5 percent WoW).

Sector-wise negative contributions came from i) Commercial Banks (162 points) as Moody’s placed five Pakistani banks on review for downgrade and adverse impact of rate cut on NIMs, ii) Fertilizer (114 points), and iii) Cement (95 points).

Scrip-wise negative contributions were led by ENGRO (52 points), FFC (43 points), and MCB (36 points). Whereas top gainers were: i) Oil & gas exploration companies (120 points) and Food and personal care products (32 points).

Foreign offloading during the week arrived at USD 8.77 million compared to a net sell of USD 10.91 million last week.

Selling was witnessed in Oil & Gas Marketing Companies (USD 2.36 million), Banks (USD 2.11 million) and Fertilizer (USD 1.69 million).

On the domestic front, Individual accumulated stocks worth USD 11.37 million, while buying by Insurance companies arrived at USD 4.9 million.

Average volumes settled at 205.5 million shares (down by 6 percent WoW) while average value traded clocked-in at USD 47.5 million (up by 18 percent WoW).

In a day marked by mixed trading activities, the share market, the Pakistan Stock Exchange (PSX) experienced a decline of 96 points on Thursday, with the benchmark KSE-100 index closing at 33,837 points compared to the previous day’s 33,933 points.

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KARACHI: The stock market fell by 226 points on Wednesday as the market witnessed profit booking across the board ahead of Eid holidays.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,933 points as against 34,159 points showing a decline of 226 points.

Analysts at Arif Habib Limited said that the market saw profit booking across the board in the run-up to Eid holidays and the long weekend.

Though international crude oil prices remained high overnight and since yesterday, local investors little heed to that, given the long gap from Friday till next week on Thursday, which can cause the underlying prices to move in any direction.

E&P, OMCs and Refineries, which showed price gains yesterday booked profits today, whereas Cement sector saw renewed interest from investors.

Post market closure yesterday, Moody’s notification for considering Pakistani banks for rating downgrade caused stir among local investors, resulting in negative price performance for the banking sector.

Pharmaceutical sector also realized attrition with FEROZ hitting lower circuit and SEARL posting price loss.

Technology sector topped the index with 28.2 million shares, followed by Cement (25.1 million) and O&GMCs (20.6 million).

Among scrips, HUMNL realized 11.7 million shares, followed by HASCOL (11.3 million) and TRG (9.5 million).

Sectors contributing to the performance include E&P (-73 points), Fertilizer (-65 points), Banks (-42 points), Pharma (-29 points), Inv Banks (-21 points), Autos (+21 points).

Volumes declined from 2478 million shares to 165.1 million shares (-33 percent DoD). Average traded value followed suit with a decline of 35 percent reaching US$ 42.7 million as against US$ 65.3 million.

Stocks that contributed significantly to the volumes include HUMNL, HASCOL, TRG, UNITY and MLCF, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include PSEL (+18 points), PAKT (+11 points), EFUG (+9 points), HCAR (+8 points) and ICI (+8 points). Stocks that contributed negatively include ENGRO (-28 points), FFC (-28 points), PPL (-27 points), DAWH (-22 points), and HBL (-18 points).

KARACHI: The equity market gained 354 points on Tuesday as trading activities seen in energy sectors after improved prices in international crude oil.

The benchmark KSE-100 index closed at 34,185 points as against 33,804 points showing an increase of 354 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today and went up by 546 points during the session. Increasing international crude prices helped E&P, OMCs and Refinery sectors contribute to the growth in index. Besides, Pharmaceuticals posted price gains on the back of prospects of working towards cure for Corona virus, whereby FEROZ, SEARL, ICI made significant strides during past several sessions.

Profit booking, however, was observed in FEROZ. Banking sector also showed some signs of recovery, however, price gains remained muted. Cement sector saw continued attrition during past sessions and today saw rather aggressiveness, post realization of interest rate cut.

O&GMCs posted highest trading volume among sectors with 40 million shares, followed by Technology (35.3 million) and Cement (32.8 million). Among scrips, HASCOL led the volumes with 31.6 million shares, followed by TRG (16 million) and MLCF (12.7 million).

Sectors contributing to the performance include E&P (+106 points), Pharma (+52 points), O&GMCs (+40 points), Misc (39 points), Banks (+24 points) and Cement (-15 points).

Volumes declined from 261.9 million shares to 247.8 million shares (-6 percent DoD). Average traded value, on the contrary, increased significantly from US$ 45.4 million to US$ 65.2 million (+44 percent DoD).

Stocks that contributed significantly to the volumes include HASCOL, TRG, MLCF, PAEL and KEL, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+60 points), PPL (+37 points), PSEL (+31 points), SNGP (+26 points) and DAWH (+22 points). Stocks that contributed negatively include ENGRO (-13 points), MEBL (-9 points), PIOC (-9 points), CHCC (-8 points), and AICL (-7 points).

KARACHI: The share market fell by 203 points on Monday as investors preferred profit booking, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,805 points as against 34,008 points showing a decline of 203 points (-0.6 percent DoD).

Analysts at Arif Habib Limited said that post rate cut last week, market posted some gains today, showing an upside of 385 points earlier in the session, however, profit booking caused Index to slide posting a decline of 238 points during the session and closing -203 points.

Banking sector primarily caused the plunge resulting in across the board price loss.

Cement sector also couldn’t escape the selling pressure, although rate cut meant to benefit the leveraged cement players.

Technology sector topped the chart with 56.2 million shares, followed by Cement (35.2 million) and Investment Banks (31.4 million). Among Scrips, TRG realized 22.5 million shares, followed by KEL (17.5 million) and WTL (17.3 million).

Sectors contributing to the performance include E&P (+54 points), Food (+19 points), Banks (-117 points), Cement (-58 points), Misc. (-42 points), Fertilizer (-39 points) and O&GMCs (-14 points).

Volumes increased from 213.3 million shares to 262.0 million shares (+23 percent DoD). Average traded value also increased by 17 percent to reach US$ 45.4 million as against US$ 38.8 million.

Stocks that contributed significantly to the volumes include TRG, KEL, WTL, MLCF and FCSC, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+28 points), NESTLE (+25 points), TRG (+18 points), PPL (+18 points) and ICI (+13 points). Stocks that contributed negatively include PSEL (-34 points), MCB (-33 points), BAHL (-25 points), LUCK (-23 points), and FFC (-23 points).