Category: Stock & Commodity

KARACHI: The stock market gained 231 points on Thursday despite extended holidays announced for Eid ul Fitr. The stock market will reopen on May 17, 2021.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,175 points as against previous day’s closing of 44,944 points, showing an increase of 231 points.

Analysts at Arif Habib Limited said that the market opened on a positive note and after sustaining a short dip of 54 points below LDCP, bounced back, closing the session on a strong note at 231 points.

Cement, Fertilizer, Refinery and Technology stocks kept the interest alive and despite a long vacation investors took a long bet.

Trading volumes remained tilted towards off main board in WTL, TELE, however regardless of the recent onslaught on TRG and NETSOL, buying interest brought the stocks prices of pertinent stocks up generating considerable interest. Among scrips, WTL topped the volumes with 80.3 million shares, followed by TRG (14.7 million) and TELE (12.7 million).

Sectors contributing to the performance include Cement (+80 points), Banks (+55 points), Technology (+33 points), Tobacco (+25 points), Power (+14 points), E&P (-30 points) and Chemical (-11 points).

Volumes declined from 259.8 million shares to 245.6 million shares (-6 percent DoD). Average traded value also declined by 36 percent to reach US$ 62.1 million as against US$ 96.7 million.

Stocks that contributed significantly to the volumes include WTL, TRG, TELE, UNITY and GGL, which formed 53 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+61 points), TRG (+37 points), BAFL (+26 points), PAKT (+25 points) and KAPCO (+14 points). Stocks that contributed negatively include UBL (-20 points), EPCL (-13 points), POL (-12 points), MARI (-10 points) and PPL (-10 points).

The equity market in Karachi closed on a positive note on Wednesday, with the benchmark KSE-100 index gaining 380 points to settle at 44,944, up from the previous day’s closing of 44,564 points. This gain came despite volatile performance in the technology sector, which weighed down some key scrips.

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KARACHI: The equity market has shown an increase of 487 points on Tuesday as positive sentiments prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,563 points as against previous day’s closing of 44,076 points, showing an increase of 487 points.

Analysts at Arif Habib Limited said that the market performed well today, adding a total of 544 points on the board and closed at high note. Resolution of roll-over uncertainty in TRG helped investors take a positive view on the stock resulting in TRG hitting upper circuit.

NETSOL on the other hand, remained under pressure with stock at lower circuit for the consecutive session. Oil prices also bounced overnight that helped E&P companies to inch up.

Cement and Steel sectors bounced back as well, after sustaining losses in the previous sessions. Among scrips, UNITY topped the volumes with 33.8 million shares, followed by TELE (26.2 million) and GGL (23.5 million).

Sectors contributing to the performance include Technology (+127 points), Banks (+84 points), Fertilizer (+61 points), Cement (+43 points) and Vanaspati (+31 points).

Volumes declined from 238.4 million shares to 221.5 million shares (-8 percent DoD). Average traded value also declined by 11 percent to reach US$ 65.8 million as against US$ 73.8 million.

Stocks that contributed significantly to the volumes include UNITY, TELE, GGL, TRG and HASCOL, which formed 50 percent of total volumes.

Stocks that contributed positively to the index include TRG (+116 points), LUCK (+38 points), HBL (+32 points), UNITY (+31 points) and MCB (+23 points). Stocks that contributed negatively include PAKT (-26 points), KTML (-8 points), NESTLE (-6 points), ICI (-5 points) and DGKC (-3 points).

KARACHI: The share market ended down by 186 points on Monday owing to roll-over trades from April future contract.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,076 points as against last Friday’s closing of 44,262 points, showing a decline of 186 points.

Analysts at Arif Habib Limited said that roll-over trades from April Futures Contract that remained outstanding at the end of Roll-over week on Friday caused mayhem today as well, especially the positions in TRG and NETSOL.

Resultantly, the Index slashed 632 points during the session. Recovery ensued, considering that the positions have rolled-over however, since the positions were still outstanding, the recovery efforts proved futile, ending the session -186 points.

NETSOL hit lower circuit since the beginning of the session, whereas TRG traded near lower circuit the entire session. Besides Technology stocks, selling pressure was observed in Cement and Steel sectors which kept the index down. Among scrips, UNITY led the table with 36.2 million shares, followed by TELE (25.2 million) and GGL (23 million).

Sectors contributing to the performance include Technology (-89 points), Textile (-58 points), Cement (-33 points), Power (-29 points) and Refinery (-12 points).

Volumes declined from 293.7 million shares to 238 million shares (-19 percent DoD). Average traded value also declined by 18 percent to reach US$ 73.8 million as against US$ 89.7 million.

Stocks that contributed significantly to the volumes include UNITY, TELE, GGL, TRG and WTL, which formed 46 percent of total volumes.

Stocks that contributed positively to the index include SYS (+41 points), HBL (+17 points), UNITY (+16 points), KTML (+13 points) and FFC (+13 points). Stocks that contributed negatively include TRG (-130 points), HUBC (-28 points), NML (-23 points), ANL (-16 points) and LUCK (-15 points).

KARACHI: A possible strict lockdown due to rise in coronavirus cases in the country may put pressure on the stock market during next week.

Analysts at Arif Habib Limited said that the National Command and Operation Center (NCOC) had instructed stricter restrictions and shorter working hours, while a complete lockdown is still a possibility.

This could potentially continue to add pressure to the market next week.

The ongoing third wave of the novel coronavirus is likely to keep sentiment under pressure, while in addition to a strong results season (particularly cyclical sectors) we may see the market react on a positive note in the upcoming week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.6x (2021) compared to Asia Pac regional average of 16.0x while offering a dividend yield of ~7.4 percent versus ~2.6 percent offered by the region.

The week commenced on a positive note on Monday due to heavy investment from a major fund. For the remainder of the week the index was under pressure due to rise in the infection ratio, lockdowns in certain areas of the country and reduced business timings.

Finally, a discussion of a possible complete lockdown is still on the cards which added extra pressure to the index. On a positive note inflows to foreign exchange through the Roshan Digital Account (RDA) crossed the USD 1bn this week, while the Current Account posted a nominal deficit of USD 47 million for March 2021. The KSE-100 Index closed the week at 44,262 points, declining 445 points WoW.

Sector-wise negative contributions came from i) Technology & Communication (110) ii) Cement (95), iii) Tobacco (555 points), iv) Engineering (49 points) and v) Automobile Assembler (43 points).

Whereas sectors that contributed positively include i) Textile Composite (25 points), and ii) Chemical (16 points). Scrip-wise negative contributors were TRG (82 points), MCB (65 points), PAKT (55 points), NBP (39 points) and INIL (31 points) while positive contributors included HBL (48 points), BAHL (36 points), FFC (34 points), COLG (31 points) and UBL (24 points).

Foreign selling this week clocking-in at USD 13.1 million compared to a net buy of USD 7.3 million last week. Selling was witnessed in Commercial Banks (USD 4.8 million) and Technology and Communication (USD 1.5 million).

On the domestic front, major buying was reported by Other Organization (USD 16.1 million) and Mutual Funds (USD 13.4 million). Average volumes arrived at 331 million shares (down by 0.5 percent WoW) while average value traded settled at USD 110 million (up by 14 percent WoW).

KARACHI: The equity market ended down by 601 points on Friday owing to selling pressure witnessed across the board during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,262 points as against 44,863 points, showing a decline of 601 points.

Analysts at Arif Habib Limtied said that end of roll-over week had a painful impact on market, causing the index to tumble 711 points during the session and closing -601 points.

Leveraged stocks, NETSOL, TRG and UNITY which had significant outstanding balance in the DFC open interest created negative sentiment, despite TRG declaring good results with a hefty payout.

NETSOL, on the other hand, posted negative earnings for the quarter. Resultantly, NETSOL hit lower circuit.

Besides, selling pressure was observed across the board with UBL contributing to loss on points table among banking sector stocks with the exception of HBL that maintained level above LDCP.

Among scrips, GGL topped the volumes with 34.8 million shares, followed by TRG (25.9 million) and TELE (22.4 million).

Sectors contributing to the performance include Technology (-133 points), Cement (-60 points), E&P (-50 points), O&GMCs (-46 points) and Banks (-42 points).

Volumes increased from 280.6 million shares to 293.7 million shares (+4 percent DoD). Average traded value also increased by 1 percent to reach US$ 89.6 million as against US$ 88.6 million.

Stocks that contributed significantly to the volumes include GGL, TRG, TELE, WTL and HASCOL, which formed 37 percent of total volumes.

Stocks that contributed positively to the index include BAHL (+19 points), HBL (+14 points), SCBPL (+6 points), SHFA (+6 points) and AGP (+5 points). Stocks that contributed negatively include TRG (-105 points), HUBC (-30 points), SYS (-28 points), NBP (-24 points) and NRL (-23 points).