Category: Stock & Commodity

KARACHI: The stock market gained 315 points on Tuesday amid thin volumes because of fiscal year end.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,053 points as against 33,738 points showing an increase of +315 points.

Analysts at Arif Habib Limited said that the market followed the momentum made yesterday.

Traded volume remained thin as have been the case in the past couple of sessions, mainly due to financial year end marked to market valuation of portfolio scrips by institutional investors.

Among E&P Stocks, OGDC came in limelight with price gains, which was aided by an upward move in international crude oil prices. Similarly, PSO also witnessed price gains during the session.

Banking sector stocks also traded largely in the positive territory. Technology sector stocks topped the volumes with 20.9 million shares, followed by Cement (15.5 million) and Chemical (14.2 million).

Among scrips, TRG led the volumes with 11.8 million shares, followed by UNITY (11 million) and MLCF (6.9 million).

Sectors contributing to the performance include E&P (+68 points), Cement (+38 points), O&GMCs (+35 points), Power (+29 points) and Banks (+27 points).

Volumes declined from 161.2 million shares to 160.6 million shares (-0.8 percent DoD). Average traded value also declined by 9 percent to reach US$ 33.5 million as against US$ 36.5 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, MLCF, PAEL and PRLR1, which formed 26 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+36 points), HUBC (+29 points), FFC (+22 points), TRG (+20 points) and MEBL (+19 points). Stocks that contributed negatively include ENGRO (-10 points), PAKT (-8 points), PMPK (-5 points), BAHL (-5 points), and THALL (-5 points).

KARACHI: The stock market increased by 299 points on Monday after making recovery of intra-day losses.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,738 points as against 33,438 points showing an increase of 299 points.

Analysts at Arif Habib Limited said that the market went down in the early part of the session, declining by 368 points but rebounded later to erase all losses.

The intra-day movement amounted to 723 points. Fertilizer sector contributed to the positivity, mainly on the back of EFERT and FFC, which was further aided by a rebound in E&P stocks (OGDC and PPL).

Among Banks, BAFL and MCB, which were positive on the last trading day due to FTSE rebalancing, sustained price losses but otherwise the banking sector stocks some brisk buying activity, especially FABL, which hit upper circuit.

Technology sector realized trading volume of 19.6 million shares, followed by Cement (18.1 million) and Banks (12.8 million). Among scrips, UNITY topped the volumes with 11.5 million shares, followed by MLCF (8.2 million) and TRG (7.3 million).

Sectors contributing to the performance include Fertilizer (+120 points), E&P (+64 points), Power (+33 points), Banks (+25 points) and Autos (+23 points).

Volumes increased from 105.9 million shares to 161 million shares (+51 percent DoD). Average traded value also increased by 83 percent to reach US$ 36.8 million as against US$ 20 million.

Stocks that contributed significantly to the volumes include UNITY, MLCF, TRG, HASCOL and HUMNL, which formed 25 percent of total volumes.

Stocks that contributed positively to the index include FFC (+49 points), ENGRO (+48 points), OGDC (+30 points), HUBC (+26 points) and EFERT (+21 points). Stocks that contributed negatively include AGP (-14 points), MCB (-12 points), ABOT (-5 points), SHFA (-5 points), and NESTLE (-5 points).

KARACHI: Trading activities likely witness positive sentiments during upcoming week as political uncertainty may settle down, analysts said.

Analysts at Arif Habib Limited said that the political noise is expected to settle down as the government is making efforts to mend ties with the coalition partners.

Moreover, rise in international oil prices is expected to fuel interest in E&P’s.

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 12.6x and while offering DY of ~6.6 percent versus ~2.8 percent offered by the region.

The market commenced on a negative note this week following the FY21 budget announcement which once again included highly ambitious revenue targets.

However rise in international oil prices (benefitting E&P) and news regarding breakthrough in discovery of drug for treating COVID-19 patients, improved investor sentiment briefly.

The sentiment was short lived as re-introduction of a “smart lockdown” by sealing off hotspots in cities adversely affected sentiment in the bourse. Moreover fall in large scale manufacturing data by 41.89 percent YoY during April 2020 and Pak Rupee depreciation against USD to PKR 167.40/USD further dented confidence.

The market settled at 33,439 points, shedding 1,172 points (down by 3.4 percent) WoW.

Sector-wise negative contributions came from i) Commercial Banks (293 points), ii) Fertilizer (226 points), iii) Cement (183 points), iv) Oil & Gas Marketing Companies (96 points) and Power Generation & Distribution (91 points). Whereas, sector-wise positive contribution came from i) Pharmaceuticals (9 points) and ii) Textile Spinning (3 points). Scrip-wise negative contributions were led by UBL (94 points), LUCK (92 points), ENGRO (74 points), FFC (68 points) and HUBC (65 points).

Foreign selling continued this week clocking-in at USD 4.8 million compared to a net sell of USD 7.7 million last week. Selling was witnessed in Fertilizer (USD 2.4 million) and Commercial Banks (USD 1.9 million).

On the domestic front, major buying was reported by Individuals (USD 12.3 million) and Broker Proprietary Trading (USD 0.5 million).

Average Volumes settled at 229 million shares (up by 1 percent WoW) while average value traded clocked-in at USD 42 million (down by 16 percent WoW).

KARACHI: The stock market fell by 101 points on Friday as re-imposition of lockdown dimmed prospects of quick economic recovery.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,439 points as against 33,540 points showing a decline of 101 points.

Analysts at Arif Habib Limited said that the market remained range bound throughout the session, trading between +160 points and -170 points, closing the session -101 points.

Re-imposition of lock down has dimmed the prospects of quick economic recovery / stabilization.

Expectation of rate cut renewed in the early part of the session with the possibility of an emergent meeting at SBP taking place anytime next week.

International crude prices also realized an increase of US$1 / bbl, but oil stocks barely moved on the spike.

FTSE rebalancing also created some excitement, but against expectation didn’t affect the banking sector much.

Brisk buying was observed in both MCB and BAFL. Banking sector led the volumes with 12.7 million shares, followed by Technology (10.4 million) and Power (10.2 million).

Among scrips, KEL posted 9.1 million shares, followed by UNITY (7.2 million) and BAFL (5.7 million).

Sectors contributing to the performance include E&P (+39 points), Banks (+15 points), Inv Banks (-25 points), Cement (-24 points), Fertilizer (-21 points), O&GMCs (-21 points) and Pharma (-16 points).

Volumes dropped from 216.2 million shares to 105.9 million shares (-51 percent DOD). Average traded value also declined by 49 percent to reach US$ 20 million as against US$ 38.9 million.

Stocks that contributed significantly to the volumes include KEL, UNITY, BAFL, PRLR 1, BGL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include MCB (+39 points), BAFL (+13 points), PPL (+12 points), POL (+11 points) and OGDC (+10 points).

Stocks that contributed negatively include DAWH (-25 points), UBL (-17 points), LUCK (-16 points), EFERT (-15 points), and MEBL (-13 points).

KARACHI: The stock market fell by 309 points on Thursday due to political uncertainty and imposition of smart lockdown in various parts of the country.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,539 points as against 33,848 points showing a decline of 309 points.

Analysts at Arif Habib Limited said that the market shed 377 points again during the session and closed -309 points. Political uncertainty amid emergency lockdown in different parts of the country caused investors to rethink decisions.

In addition, rupee parity also dropped to 166.35 that showed US$ as a preferred store of value for investors as against equities.

Vanaspati sector continued leading the volumes on the bourse, which is primarily driven by UNITY. A total of 23.9 million shares of UNITY traded today.

Technology sector followed Vanaspati in terms of traded volumes with 22.9 million shares, trailed by Banks (22.2 million). Among scrips, MDTL and BOP followed UNITY with 9.9 million and 8.3 million shares respectively.

Sectors contributing to the performance include Banks (-86 points), Fertilizer (-59 points), Power (-49 points), E&P (-36 points) and OMC’s (-24 points).

Volumes dropped from 340.8 million shares to 216.2 million shares (-37 percent DoD). Average traded value also declined by 36 percent to reach US$ 38.9 million as against US$ 61 million.

Stocks that contributed significantly to the volumes include UNITY, MDTL, BOP, JSCL and HASCOL, which formed 26 percent of total volumes.

Stocks that contributed positively to the index include DAWH (+18 points), HBL (+14 points), AGP (+6 points), GLAXO (+5 points) and FML (+3 points). Stocks that contributed negatively include BAHL (-45 points), HUBC (-44 points), FFC (-21 points), UBL (-18 points), and PPL (-16 points).

KARACHI: The equity market ended down by 170 points on Wednesday owing to uncertainty after a political party announced to leave government coalition.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,849 points as against 34,019 points showing a decline of 170 points.

Analysts at Arif Habib Limited said that the market made a strong come back today by registering an increase of 377 points, however, BNP Mengal’s decision to leave PTI Coalition government caused jitters in the market.

The index lost all the gains made during the session and sustained a loss of -243 points, closing the session -170 points.

Political uncertainty amid Corona crisis and border skirmishes between China and India have cumulatively dented the investor sentiment for the moment.

Rupee parity also crossed 165 during the day, whereas international crude prices also picked pace, which in turn caused E&P stocks to post gains. Vanaspati sector topped the volumes with 43.9 million shares, followed by Inv Banks (35.5 million) and Chemical (34.8 million).

Among scrips, UNITY led the volumes with 43.9 million shares, followed by JSCL (28.9 million) and PRL R1 (13.8 million).

Sectors contributing to the performance include Banks (-77 points), Cement (-50 points), Fertilizer (-42 points), O&GMCs (-15 points) and Technology (-9 points).

Volumes increased from 217.9 million shares to 340.8 million shares (+56 percent DoD). Average traded value also increased by 55 percent to reach US$ 61.0 million as against US$ 39.4 million.

Stocks that contributed significantly to the volumes include UNITY, JSCL, PRLR1, AGL and NRSL, which formed 32 percent of total volumes.

Stocks that contributed positively to the index include NESTLE (+10 points), HUBC (+10 points), OGDC (+10 points), SEARL (+9 points) and PMPK (+8 points). Stocks that contributed negatively include MCB (-42 points), ENGRO (-26 points), UBL (-25 points), FFC (-17 points), and HBL (-15 points).

KARACHI: The stock market gained 194 points on Tuesday as energy sector staged recovery on improved international oil prices.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,019 points as against 33,824 points showing an increase of 194 points.

Analysts at Arif Habib Limited said that the market bounced back after realizing a loss of 787 points in yesterday’s session (post budget), and posted recovery of 314 points during the session. International crude prices improved overnight that helped E&P, OMCs and Refineries to stage recovery.

Cement and Steel sectors also saw renewed buying interest, however, overall stock prices did not cross yesterday’s High. Chemical sector posted highest trading volumes with 28.7 million shares, followed by Technology (27.9 million) and Vanaspati (20.6 million).

Among scrips, UNITY topped the volumes with 20.6 million shares, followed by AGL (11 million) and TPL (8 million).

Sectors contributing to the performance include E&P (+65 points), Banks (+32 points), Power (+23 points), O&GMCs (21 points) and Pharma (+12 points).

Volumes declined from 262.8 million shares to 217.4 million shares (-17 percent DoD). Average traded value also declined by 21 percent to reach US$ 39.5 million as against US$ 50.2 million.

Stocks that contributed significantly to the volumes include UNITY, AGL, TPL, LOTCHEM and HUMNL, which formed 26 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+19 points), POL (+18 points), OGDC (+18 points), PPL (+15 points) and MARI (+15 points). Stocks that contributed negatively include FFC (-16 points), NESTLE (-14 points), IGIHL (-12 points), BAFL (-8 points), and LUCK (-8 points).

KARACHI: The stock market fell by 787 points on Monday as budget disappointed investors regarding tax incentives.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,824 points as against 34,612 points showing a decline of 787 points.

Analysts at Arif Habib Limited said that the market did not respond well to the government’s budget announcement.

The benchmark index lost a total of 796 points during the session and closed -787 points.

The budget largely disappointed investors who expected major tax cuts and incentives from the budget which the government itself termed as Corona budget.

Selling pressure was observed across the board from banks to oil and cements, without paying heed to reduction of duties that the government announced for various sectors on import of raw material.

Highest trading volume was observed in vanaspati sector with 45.3 million shares, followed by Cement (38.7 million) and Chemical (23.9 million). Among scrips, UNITY topped the index with 45.3 million shares, followed by POWER (10.9 million) and ANL (10.3 million).

Sectors contributing to the performance include Banks (-178 points), E&P (-115 points), Cement (-99 points), Fertilizer (-89 points), Power (-58 points).

Volumes increased from 177.9 million shares to 262.8 million shares (+48 percent DoD). Average traded value also increased by 31 percent to reach US$ 50.2 million as against US$ 38.3 million.

Stocks that contributed significantly to the volumes include UNITY, POWER, ANL, MLCF and LOTCHEM, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include ANL (+8 points), SEARL (+6 points), JLICL (+5 points), LOTCHEM (+4 points) and SYS (+3 points).

Stocks that contributed negatively include MCB (-51 points), OGDC (-50 points), UBL (-45 points), LUCK (-45 points), and HUBC (-43 points).