Category: Stock & Commodity

KARACHI: The stock market gained 209 points on Wednesday as profit taking activity was seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,836 points as against 38,627 points showing an increase 209 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +154 points and added an overall sum of 497 points. Anticipated profit booking brought the Index down to +209 points by the end of session.

Banks, Steel, Chemical and Fertilizer sectors saw profit booking before last day of the trading week. Among E&P companies, PPL sustained selling pressure amid high volumes.

Power sector led the volumes with 93.7 million shares, followed by Cement (60.7 million) and Technology (60.2 million). Among scrips, PAEL topped the volumes with 26.2 million shares, followed by MLCF (26.1 million) and BOP (23.4 million).

Sectors contributing to the performance include Cement (+62 points), Power (+59 points), E&P (+49 points), O&GMCs (+25 points), Insurance (+23 points).

Volumes increased from 394.3 million shares to 508.3 million shares (+29 percent DoD). Average traded value also increased by 30 percent to reach US$ 126.3 million as against US$ 97.1 million.

Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 35 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+32 points), LUCK (+28 points), KEL (+19 points), PPL (+19 points) and POL (+15 points).

Stocks that contributed negatively include HBL (-35 points), FFC (-20 points), MEBL (-11 points), FFBL (-11 points), and PAKT (-9 points).

KARACHI: The stock market gained 406 points on Tuesday as investors optimistic about financial results to be announced by banks.

The benchmark KSE-100 index closed at 38,627 points as against 38,221 points showing an increase of 406 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +158. Banking sector remained in the limelight, which was further helped by Cement, Refinery, Textile and Chemicals.

Profit selling was largely observed in E&P and Fertilizer sectors, however, this did not affect the market sentiment. Two sessions are left prior to Eid over the weekend, however, investors look optimistic considering the ongoing results season, especially due to Banks.

UBL is scheduled to post results on August 5th. Banking sector led the volumes with 60.8 million shares, followed by Cement (59.6 million) and Technology (35.6 million). Among scrips, PAEL topped the volumes with 26.2 million, followed by MLCF (26.1 million) and BOP (23.4 million).

Sectors contributing to the performance include Banks (+173 points), Cement (+73 points), Technology (+29 points), Textile (+21 points) and Autos (+20 points).

Volumes increased from 288.1 million shares to 394.3 million shares (+37 percent DoD). Average traded value also increased by 22 percent to reach US$ 97.3 million as against US$ 79.7 million.

Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+44 points), MEBL (+42 points), BAHL (+31 points), TRG (+31 points) and MCB (+30 points). Stocks that contributed negatively include DAWH (-7 points), JLICL (-7 points), NESTLE (-6 points), ARPL (-4 points), and FFC (-3 points).

KARACHI: The stock market gained 614 points on Monday owing the decision of the central bank for not to hold regular meeting of monetary policy committee.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,221 points as against 37,608 points showing increase of 614 points.

Analysts at Arif Habib Limited said that following SBP’s decision to defer Monetary Policy for next 2 months, gave banking scrips the much needed impetus to rally.

Anticipation of further rate cut died with SBP’s decision and investors view this decision as a signal of interest rate bottoming out.

Banking sector scrips, especially HBL rallied and traded near upper circuit after posting significant earnings last Friday.

UBL is scheduled to post financial results in the first week of August, which gave another reason for the banks to perform.

Besides Banks, Cement sector rebounded after adjusting to selling pressure in the outgoing week.

Resultantly, Index posted gains of 684 points and closed the session +614 points. Technology sector led the volumes with 39.4 million shares, followed by Banks (39.1 million) and Cable (30.2 million).

Among scrips, PAEL topped the volumes with 28.9 million shares, followed by TRG (20 million) and PRL (18.4 million).

Sectors contributing to the performance include Banks (+283 points), Cement (+75 points), Technology (+47 points), E&P (+45 points) Fertilizer (+45 points).

Volumes increased from 266.5 million shares to 288.1 million shares (+8 percent DoD). Average traded value increased by 24 percent to reach US$ 79.5 million as against US$ 64 million.

Stocks that contributed significantly to the volumes include PAEL, TRG, PRL, MLCF and FFL, which formed 31 percent of total volumes.

Stocks that contributed positively to the index include HBL (+98 points), BAHL (+51 points), LUCK (+39 points), MEBL (+36 points) and TRG (+30 points). Stocks that contributed negatively include DAWH (-10 points), ATLH (-4 points), MUREB (-3 points), KAPCO (-2 points), and ICI (-2 points).

KARACHI: The stock market likely to maintain upward trend as many corporate entities set to declare better results.

Analysts at Arif Habib said that with commencement of the result season certain sectors / scrips may come under limelight in the upcoming week.

Although pre-Eid jitters cannot be ruled out amid profit-taking at current levels. However, funds continue to flow in the bourse and economic activity shows signs of revival.

Hence, our long term stance on the market remains positive.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2021) compared to Asia Pac regional average of 13.1x and while offering DY of ~6.7 percent versus ~2.7 percent offered by the region.

The outgoing session marks end of a fifth consecutive positive week at the KSE-100 index.

Although the rally lost stream mid-week amid profit taking and selling pressure from individuals, the bourse moved up 276 points WoW to close at 37,608points.

To recall, sentiments have been rejoiced by several rate cuts by the SBP (625bps in total) which have once again brought equities to the forefront as the preferred asset class, while improvement in the domestic COVID-19 recovery rate, end of lockdown as well as reinstatement of pre-corona market hours aided volumes and attracted investment in the market.

Sector-wise positive contributions came from i) Commercial Banks (253 points), ii) Power generation and distribution (76 points), iii) Automobile Assembler (31 points), iv) Textile composite (28 points), and v) Technology and communication (17 points).

Whereas negative contributions came from i) Cements (60 points), Oil & Gas Exploration Companies (38 points), and Chemical (19 points). Scrip-wise positive contributions were led by HBL (128 points), MCB (64 points), HUBC (58 points), BAHL (35 points), and MTL (31 points).

Foreign selling continued this week clocking-in at USD 9.3 million compared to a net sell of USD 27.4 million last week.

Selling was witnessed in Commercial Banks (USD 2.9 million) and E&P (USD 1.7 million). On the domestic front, major buying was reported by Companies (USD 7.3 million and Insurance Companies (USD 7.0 million).

Average volumes settled at 413 million shares (down by 3 percent WoW) while average value traded clocked-in at USD 97 million (down by 2 percent WoW).

The stock market gained 29 points on Friday, recovering from earlier losses of 319 points, thanks to the strong performance of Habib Bank Limited (HBL).

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KARACHI: The stock market witnessed decline of 226 points on Thursday owing to selling pressure prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,578 points as against 37,804 points showing a decline of 226 points.

Analysts at Arif Habib Limited said that the market had an exciting session, which resulted in quite some fluctuation between positive and negative throughout the day and closed the session -226 points.

Selling pressure was mainly observed in Cement, Steel, Pharma, OMCs etc. which caused the market to plunge.

Banking sector stocks, MCB, HBL, UBL saw buying activity that helped Index balance a bit, however, selling pressure eroded the gains posted by Banking sector stocks.

During the session, market went up by 302 points but lost these gains and declined by 264 points. Textile sector led the volumes with 41.4 million shares, followed by Vanaspati (38.1 million) and Technology (34.1 million).

Among scrips, UNITY topped the volumes with 38.1 million shares, followed by ANL (31.2 million) and FFL (23.4 million).

Sectors contributing to the performance include Banks (+21 points), Inv Banks (+12 points), Cement (-116 points), Power (-36 points), E&P (-30 points), O&GMCs (-24 points), Pharma (-22 points).

Volumes declined from 405.5 million shares to 379.3 million shares (-6 percent DoD). Average traded value also declined by 21 percent to reach US$ 84.0 million as against US$ 106.2 million.

Stocks that contributed significantly to the volumes include UNITY, ANL, FFL, KEL and HASCOL, which formed 35 percent of total volumes.

Stocks that contributed positively to the index include MTL (+19 points), MCB (+18 points), DAWH (+14 points), INDU (+9 points) and UBL (+8 points). Stocks that contributed negatively include LUCK (-55 points), HUBC (-36 points), PPL (-25 points), ENGRO (-15 points), and DGKC (-14 points).

KARACHI: The stock market gained 104 points on Wednesday amid profit booking in scripts of many sectors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,805 points as against 37,700 points showing an increase of 104 points.

Analysts at Arif Habib Limited said that the market traded in a similar fashion as yesterday, whereby cement, fertilizer, banks saw profit booking / selling pressure, which was counterweighed by index heavy weights HUBC, ENGRO.

Today MCB, HBL and Cement sector stocks (particularly LUCK) saved the day. ECC’s approval of Funds for construction sector gave Cement sector the reason to trade.

International crude oil prices increased over the day, which helped E&P stocks staged recovery. Cement sector topped the volumes with 59.8 million shares, followed by O&GMCs (46.6 million) and Technology (40.2 million).

Among scrips, HASCOL realized trading volumes of 21.2 million, followed by UNITY (20 million) and AGL (19.2 million).

Sectors contributing to the performance include Cement (+79 points), Autos (+40 points), O&GMCs (+26 points), E&P (+20 points), Power (-37 points), Fertilizer (-25 points) and Insurance (-15 points).

Volumes declined from 457.2 million shares to 405.5 million shares (-11 percent DoD). Average trade value also declined by 9 percent to reach US$ 106.2 million as against US$ 116.5 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, AGL, FCCL and MLCF, which formed 24 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+71 points), MTL (+28 points), PSO (+18 points), MCB (+16 points) and HBL (+14 points). Stocks that contributed negatively include HUBC (-35 points), UBL (-34 points), ENGRO (-16 points), TRG (-11 points), and EFUG (-8 points).