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Category: Stock & Commodity

  • 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).

  • Stock market gains 62 points in mixed trading

    Stock market gains 62 points in mixed trading

    KARACHI: The stock market has witnessed an increase of 62 points on Tuesday in mixed trading activities during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,184 points as against 40,123 points showing an increase of 62 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note with +224 points and added a total of +312 points on the index.

    E&P and Cement sectors largely played a major role in positive activity. Banks and Fertilizer sectors, on the other hand, contributed to selling pressure on the index.

    International crude oil prices have been stable for quite some time now, which have helped Investors take a long term view on E&P stocks thereby giving continual ascent to the underlying scrips.

    Cement sector stocks performed on the back of a stay that one of the Cement companies obtained against the probe on a recent increase in Cement prices.

    Cement sector led the volumes on the bourse with 83 million shares, followed by Power (48.8 million) and O&GMCs (45.8 million). Among scrips, PIBTL topped the volumes with 35.6 million, followed by PRL (27.5 million) and DGKC (26.7 million).

    Sectors contributing to the performance include Cement (+120 points), E&P (+21 points), Pharma (+12 points), Banks (-64 points), Fertilizer (-18 points) and Technology (-17 points).

    Volumes declined from 522.7 million shares to 458.8 million shares (-12 percent DoD). Average traded value also declined by 8 percent to reach US$ 123.2 million as agsinst US$ 133.7 million.

    Stocks that contributed significantly to the volumes include PIBTL, PRL, DGKC, MLCF and HASCOL, which formed 29 percent of total volumes.

    Stocks that contributed positively to the index include LUCK (+33 points), DGKC (+31 points), CHCC (+23 points), OGDC (+14 points) and BAHL (+14 points). Stocks that contributed negatively include UBL (-28 points), HBL (-25 points), TRG (-18 points), PSO (-15 points) and ENGRO (-11 points).

  • Stock market sheds 168 points on profit taking

    Stock market sheds 168 points on profit taking

    KARACHI: The stock market fell by 168 points on Monday owing to profit taking by the investors during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,122 points as against 40,291 points showing a decline of 168 points.

    Analysts at Arif Habib Limited said that the market took bantering today due to negative impact of tariff rationalization of IPPs, which transpired over the weekend, as well as selling pressure on Fertilizer and Cement sectors on repayment of GIDC as decided by the Supreme Court on the last trading day.

    ENGRO hit lower circuit, however, recovered later. Similarly, index heavy weight HUBC saw heavy selling pressure that brought the index down.

    Among Banks, HBL saw rates coming down more than other stocks in the sector, which is primarily attributed to profit booking by Investors.

    E&P and O&GMCs performed well, partly due to switching by investors from Power and Fertilizer sectors and partly because of expectation of resolution of circular debt.

    Resultantly, SNGP and SSGC hit upper circuits, whereas PSO also traded near upper circuit. O&GMCs topped the volumes with 72.3 million shares, followed by Power (67.5 million) and Vanaspati (57.7 million).

    Among scrips, UNITY led the volumes with 37.3 million shares, followed by HASCOL (35.2 million) and TRG (26.4 million).

    Sectors contributing to the performance include O&GMCs (+95 points), Pharma (+36 points), E&P (+33 points), Autos (+22 points) and Engineering (+14 points), Fertilizer (-170 points) and Power (-125 points).

    Volumes declined from 556.3 million shares to 522.7 million shares (-6 percent DoD). Average traded value, on the contrary, increased by 16 percent to reach US$ 133.7 million as against US$ 115.1 million.

    Stocks that contributed significantly to the volumes include UNITY, HASCOL, TRG, PRL and PAEL, which formed 29 percent of total volumes.

    Stocks that contributed positively to the index include PSO (+49 points), SNGP (+28 points), ABOT (+18 points), OGDC (+18 points) and PPL (+17 points). Stocks that contributed negatively include HUBC (-121 points), ENGRO (-116 points), HBL (-62 points), EFERT (-62 points) and LUCK (-27 points).

  • Weekly Review: Market likely stay on improved economic indicators

    Weekly Review: Market likely stay on improved economic indicators

    KARACHI: The stock market likely to stay positive during next week owing to improved economic indicators, analysts said.

    The analysts at Arif Habib Limited said that the market to remain green especially cyclical sectors including Cement, Steel, Textile and Automobile amid notable improvement in macros including quick recovery in exports, reduction in trade deficit, stable Pak Rupee, drastic increase in industrial outputs (majority companies operating at maximum capacity) and lower inflation expectation.

    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 13.7x while offering a dividend yield of ~6.2 percent versus ~2.6 percent offered by the region.

    This week trading commenced on a negative note due to profit taking which resulted in selling pressure in Cement, Steel, Automobile, and E&P sector.

    On Tuesday however, a rebound was witnessed at the index attributable to increase in international oil prices and prospects of consensus between Independent Power Producers and the Government of Pakistan.

    On the other hand, increase in fertilizer prices also increased activity in the fertilizer sector. However, honorable Supreme Court of Pakistan announced its reserved verdict on GIDC today whereby industries are required to pay Rs457 billion which once again brought pressure on industries (Fertilizer, Cement, Steel, Chemicals and Textiles).

    With that said, the KSE-100 index closed at 40,291 points, up by 261 points or 0.65 percent WoW (eighth consecutive positive week after January 2017).

    Contribution to the upside was led by i) Power Generation and Distribution (261 points), ii) Oil and Gas Exploration Companies (97 points), iii) Oil and Gas Marketing Companies (92 points), iv) Commercial Banks (86 points), and v) Textile Composite (29 points).

    Scrip wise major gainers were HUBC (213 points), PPL (56 points), UBL (56 points), KAPCO (39 points), and SNGP (36 points). Whereas, scrip wise major losers were DAWH (55 points), ENGRO (49 points) MCB (31 points), EFERT (25 points) and FFC (23 points).

    Foreign buying continued this week clocking-in at USD 8.7 million compared to a net buy of USD 3.7 million last week. Buying was witnessed in Cement (USD 4.3 million) and Fertilizer (USD 2.7 million). On the domestic front, major selling was reported by Banks/DFI (USD 10.7 million) and Insurance Companies (USD 5.4 million). That said, average daily volumes and traded value for the outgoing week were down by 9 percent and 14 percent to 581 million shares and USD 125 million, respectively.

  • Stock market ends down by 182 points on profit taking, GIDC decision

    Stock market ends down by 182 points on profit taking, GIDC decision

    KARACHI: The stock market fell by 182 points on Thursday owing to profit taking and the decision of the apex court regarding payment of Gas Infrastructure Development Cess (GIDC).

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,291 points as against the previous day’s closing of 40,473 points showing a decline of 182 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note on the opening bell with +70 points and 2.8 million shares.

    The index tumbled afterwards as Supreme Court announced the decision on GIDC, which required industries to pay Rs. 457 billion on account of GIDC over a period of 2 years. Investors took it as cue to book profits, which brought the index down by 575 points during the session.

    E&P, O&GMCs and Tech stocks largely remained unharmed, among which TRG and UNITY hit upper circuits. Fertilizer, Cement and Banking sector stocks remained under pressure throughout the session.

    Vanaspati sector led the volumes with 110 million shares, courtesy of UNITY (including the trading volume of its Right Shares).

    This was followed by Technology (81.1 million) and O&GMCs (72.8 million). Among scrips, UNITY led the volumes with 60.1 million, followed by HASCOL (50.6 million) and UNITYR2 (50.6 million).

    Sectors contributing to the performance include Fertilizer (-201 points), Inv Banks (-27 points), Banks (-19 points), Textile (-19 points), Technology (+31 points), O&GMcs (+29 points), Power (+22 points) and E&P (+18 points).

    Volumes declined from 591.3 million shares as against 556.1 million shares (-6 percent DoD). Average traded value also declined by 14 percent to reach US$ 115.2 million as against US$ 133.7 million.

    Stocks that contributed significantly to the volumes include UNITY, HASCOL, UNITYR2, WTL and TRG, which formed 41 percent of total volumes.

    Stocks that contributed positively to the index include TRG (+37 points), HUBC (+22 points), BAHL (+20 points), SNGP (+15 points) and HASCOL (+13 points). Stocks that contributed negatively include FFC (-114 points), ENGRO (-44 points), MCB (-27 points), EFERT (-26 points) and DAWH (-24 points).