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Category: Stock & Commodity

  • Share market gains 463 points amid selling pressure

    Share market gains 463 points amid selling pressure

    KARACHI: The share market witnessed gain of 463 points on Tuesday amid selling pressure seen during the trading.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,204 points as against 40,741 points showing an increase of 463 points.

    Analysts at Arif Habib Limited said that settlement ratios from last week’s roll-over activity continued the selling pressure on the bourse, in addition to redemption called by mutual fund investors.

    Index lost a total of 351 points earlier in the session, however, as soon as the settlement concluded, heavy buying activity took place in HASCOL, PSO, ENGRO that placed the index to erase all losses and post a net gain of 705 points by the end of session.

    The index closed +463 points. O&GMCs topped the volumes with 61.7 million shares, followed by Cement (38.5 million) and Technology (35.2 million).

    Among scrips, HASCOL realized trading volumes of 57.5 million, followed by UNITY (47.5 million) and BYCO (28.4 million).

    Sectors contributing to the performance incude Banks (+137 points), E&P (+61 points), O&GMCs (+47 points), Cement (+47 points) and Fertilizer (+45 points).

    Volumes declined from 407.2 million shares to 353.7 million shares (-13 percent DoD). Average traded value also declined by 3 percent to reach US$ 83.2 million as against US$ 86.1 million.

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

    Stocks that contributed positively to the index include BAHL (+43 points), ENGRO (+38 points), LUCK (+38 points), OGDC (+21 points) and TRG (+21 points). Stocks that contributed negatively include SHFA (-11 points), SYS (-11 points), SEARL (-10 points), KTML (-6 points) and CHCC (-5 points).

  • Stock market plunges by 960 points on political uncertainty

    Stock market plunges by 960 points on political uncertainty

    The stock market witnessed a significant downturn on Monday, with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) plunging by 960 points amid mounting political uncertainty following the arrest of an opposition leader.

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  • ADB approves $300 million to strengthen Pakistan’s capital market

    ADB approves $300 million to strengthen Pakistan’s capital market

    The Asian Development Bank (ADB) has granted approval for a $300 million policy-based loan aimed at fortifying Pakistan’s finance sector.

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  • Weekly Review: turmoil in international market to impact on local bourse

    Weekly Review: turmoil in international market to impact on local bourse

    KARACHI: The local bourses may under pressure during next week owing to turmoil in international market, analysts said.

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  • Stock market sheds 105 points in range bound trading

    Stock market sheds 105 points in range bound trading

    KARACHI: The stock market fell by 105 points on Friday as the market witnessed range bound trading and selling pressure.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,701 points as against 41,806 points showing a decline of 105 points.

    Analysts at Arif Habib Limited said that the last day of the rollover week replicated what was witnessed for the good part of the outgoing week, i.e range bound performance and selling pressure.

    E&P, Cement and banking sector stocks contributed to the downside in Index, whereby OGDC and PPL saw selling pressure in Market on Close (MOC) session.

    Cement sector stocks sustained selling pressure due to apprehensions on Competition Commission’s raid on APCMA. O&GMCs led the volume with 64.1 million shares, followed by Vansapati (47.5 million) and Refinery (43.6 million). Among scrips, HASCOL topped the volumes with 57.4 million shares, followed by UNITY (47.5 million) and BYBCO (28.4 million).

    Sectors contributing to the performance include Cement (-85 points), Technology (-21 points), Insurance (-17 points), Power (+16 points), O&GMCs (+15 points).

    Volumes almost remained the same at 435.0 million shares. Average traded value increased by 2 percent to reach US$ 93.0 million as against US$ 91.1 million.

    Stocks that contributed significantly to the volumes include HASCOL, UNITY, BYCO, TRG and PIBTL, which formed 40 percent of total volumes.

    Stocks that contributed positively to the index include HBL (+30 points), COLG (+21 points), BYCO (+12 points), HASCOL (+11 points) and KAPCO (+11 points). Stocks that contributed negatively include LUCK (-39 points), UBL (-22 points), TRG (-22 points), DGKC (-16 points) and MUREB (-14 points).

  • Index slips by 70 points amid heavy selling

    Index slips by 70 points amid heavy selling

    KARACHI: The stock market fell by 70 points on Thursday as the market witnessed heavy selling during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,806 points as against 41,876 points showing a decline of 70 points.

    Analysts at Arif Habib Limited said that the market had a field day bearing heavy selling pressure during the session, particularly on Cement, E&P, and Banking sector stocks that brought the index down by 459 points.

    Recovery set in by mid-day, which brought the index level back up and closed the session -70 points.

    Settlement of rollover trades, apprehensions on rising Corona related cases as well as weak investor sentiment in international markets caused local investors to stay cautious as well.

    Cement sector registered trading volumes of 53.5 million shares, followed by Power (49.3 million) and Technology (43.3 million). Among scrips, KEL topped the volumes with 40 million shares, followed by UNITY (33.1 million) and HASCOL (32.1 million).

    Sectors contributing to the performance include E&P (-86 points), Food (-20 points), Power (-16 points), Fertilizer (+69 points) and Cement (+18 points).

    Volumes dropped from 582.8 million shares to 434.9 million shares (-25 percent DoD). Average traded value however increased by 17 percent to reach US$ 91 million as against US$ 77.6 million.

    Stocks that contributed significantly to the volumes include KEL, UNITY, HASCOL, POWER and PIBTL, which formed 33 percent of total volumes.

    Stocks that contributed positively to the index include ENGRO (+36 points), EFERT (+24 points), FFC (+15 points), LUCK (+15 points) and PSO (+14 points). Stocks that contributed negatively include OGDC (-48 points), PPL (-33 points), TRG (-20 points), NESTLE (-14 points) and BAFL (-11 points).

  • NCCPL announces collection of capital gain tax on September 30

    NCCPL announces collection of capital gain tax on September 30

    KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday announced that it will collect/deduct capital gain tax (CGT) for the period of July – August on September 30, 2020.

    In a letter to Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange (PSX) for the period July 01, 2020 to August 31, 2020, would be collected on Wednesday September 30, 2020 through respective settling banks of the Clearing Members.

    All Clearing Members have been asked to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the period have already been made available in the CGT System, the NCCPL said.

    Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period July 01, 2020 to August 31, 2020, would also be collected from the Pakistan Mercantile Exchange on Wednesday September 30, 2020.

    The NCCPL advised clearing members and Pakistan Mercantile Exchange are hereby requested to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

    In case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations, it warned.

  • 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.