Category: Stock & Commodity

KARACHI: The market may witness positive activities during next week due to budgetary measures taken by the government for revival of ailing economy.

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KARACHI: The stock market ended down by 517 points on Friday on the back of weakness observed in international markets, decline in crude oil prices.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,611 points as against 35,129 points showing a decline of 517 points.

Analysts at Topline Securities said that KSE 100 index (down by 1.47 percent) closed negative on the last trading session day of the week on the back of weakness observed in international markets, decline in crude oil prices and growing investor concerns over spread of second wave of Coronavirus.

The analysts at Arif Habib Limited said that the market shed 625 points during the session today on the back of global rout in capital as well as commodity markets.

US and regional markets saw Stock Indexes tumbling 4 percent to 7 percent and similar attrition was observed in international crude oil prices, which dampened the investors’ sentiment in pre-budget market session.

Investors in general resorted to profit booking, considering a nominal ascend seen so far in the Index on Budget releases.

Chemical and Textile sector stocks still showed investor interest, though the aggression was absent.

Cement sector led the volumes with 30.9 million shares, followed by Textile (18.5 million) and Technology (17.9 million). Among scrips, ANL topped the volumes with 12.7 million, followed by MLCF (11.4 million) and UNITY (10.8 million).

Sectors contributing to the performance include Banks (-180 points), E&P (-122 points), Power (-35 points), Fertilizer (-30 points) and Technology (-22 points).

Volumes declined from 270.6 million shares to 177.9 million shares (-34 percent DoD). Average traded value also declined by 27 percent to reach US$ 38.4 million as against US$ 52.6 million.

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

Stocks that contributed positively to the index include ANL (+8 points), NESTLE (+6 points), PIOC (+5 points), FFC (+4 points) and JLICL (+2 points). Stocks that contributed negatively include OGDC (-50 points), HBL (-47 points), MCB (-45 points), PPL (-44 points), and UBL (-31 points).

KARACHI: The equity market gained 64 points on Thursday amid selling pressure was seen in energy scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PsX) closed at 35,129 points as against 35,066 points showing an increase of 64 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between -70 points and +188 points, closing the session +64 points.

E&P sector saw selling pressure that has been the case since international oil prices have faced resistance in the past couple of sessions.

Fertilizer, Cement, Steel and Textile sector scrips performed well today on the back of positive expectations from upcoming Budget, whereas Banks and E&P sectors saw profit booking.

Cement sector led the volumes with 44.4 million shares, followed by Chemical (31.8 million) and Technology (27.7 million).

POWER topped the volumes with 19.2 million shares, followed by TRG (14.5 million) and UNITY (10.8 million).

Sectors contributing to the performance include Fertilizer (+60 points), Cement (+44 points), E&P (-46 points), Banks (-36 points) and Food (-23 points).

Volumes increased from 218.6 million shares to 270.6 million shares (+24 percent DoD). Average traded value also increased by 9 percent to reach US$ 52.6 million as against US$ 48.3 million.

Stocks that contributed significantly to the volumes include POWER, TRG, UNITY, EPCL and MLCF, which formed 24 percent of total volumes.

Stocks that contributed positively to the index include DAWH (+27 points), FFC (+25 points), LUCK (+25 points), MEBL (+20 points) and ENGRO (+20 points). Stocks that contributed negatively include UBL (-32 points), HBL (-24 points), OGDC (-22 points), NESTLE (-18 points), and PPL (-15 points).

KARACHI: The stock market gained 262 points on Wednesday as improved trading activity was seen in banking scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 35,065 points as against 34,804 points showing an increase of 262 points.

Analysts at Arif Habib Limited said that the banking sector performed well today with BAFL hitting upper circuit and HBL, UBL & MCB also contributing positively to the Index.

Though crude oil prices remained under pressure, renewed interest in E&P sector from investors in general and foreigners in particular helped these stocks maintain a plateau.

Particular buying interest was also observed in chemical stocks, which have been in the limelight whether due to COVID-19 or anticipated tax relief in the upcoming budget.

EPCL, DOL, SPL performed well, whereas LOTCHEM after posting significant gains yesterday registered a nominal decline. Banking sector stocks topped the index with 32.8 million shares, followed by Technology (24.5 million) and Chemical (23.1 million).

Among scrips, PRLR registered treading volume of 11.7 million shares, followed by TRG (10.8 million) and BOP (9 million).

Sectors contributing to the performance include Banks (+273 points), Pharma (+24 points), Textile (+17 points), Technology (+15 points), E&P (-36 points), Cement (-10 points).

Volumes declined from 238.3 million shares to 218.7 million shares (-9 percent DoD). Average traded value also declined by 13 percent to reach US$ 48.4 million as against US$ 55.6 million.

Stocks that contributed significantly to the volumes include PRLR1, TRG, BOP, UNITY and LOTCHEM, which formed 22 percent of total volumes.

Stocks that contributed positively to the index include HBL (+67 points), UBL (+59 points), BAFL (+37 points), MEBL (+31 points) and MCB (+25 points). Stocks that contributed negatively include OGDC (-21 points), MARI (-14 points), EFUG (-6 points), ISL (-4 points), and HUBC (-4 points).

KARACHI: The stock market gained 54 points on Tuesday while trading in narrow range trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,803 points as against 34,750 points showing an increase of 54 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today between -61 points and +106 points, closing the session +54 points.

Decline in international crude oil prices brought oil stocks down, including OGDC, PPL and PSO, which kept selling pressure on the Index.

Fertilizer and Pharma sector was not much different and realized profit booking. LOTCHEM posted highest volumes in recent times to the tune of 36.2 million shares.

Among Banks, HBL posted nominal gains but remained largely positive throughout the session due to dividend being part of the price.

Auto sector performed well on the expectation of incentives to be offered in the upcoming budget. Chemical sector realized trading volumes of 47.1 million shares, followed by Technology (22.9 million) and Cement (21.2 million).

Among scrips, LOTCHEM topped the chart, followed by JSCL (13.3 million) and PRL (9.8 million).

Sectors contributing to the performance include Banks (+61 points), Cement (+19 points), Textile (+16 points), E&P (-39 points), Power (-23 points) and Fertilizer (-12 points).

Volumes increased from 222.4 million shares as against 238.3 million shares (+7 percent DoD). Average traded value also increased by 5 percent to reach US$ 55.6 million as against US$ 53.1 million.

Stocks that contributed significantly to the volumes include LOTCHEM, JSCL, PRLR1, TRG and PIBTL, which formed 32 percent of total volumes.

Stocks that contributed positively to the index include UBL (+30 points), LUCK (+27 points), DAWH (+14 points), AGP (+13 points) and NESTLE (+11 points). Stocks that contributed negatively include PPL (-23 points), HUBC (-19 points), ENGRO (-10 points), POL (-9 points), and PAKT (-7 points).

KARACHI: The stock market gained 399 points on Monday as positive sentiment prevailed due to higher international oil prices and expected cut in duty and taxes on imported raw material.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,750 points as against 34,350 points showing an increase of 399 points.

Analysts at Arif Habib Limited said that the international crude prices helped propped market today, gaining 419 points during the session and closing near high levels.

E&P and OMCs realized price gains, whereas cement sector performed as well.

Expectation of cut in duties and taxes related to raw material gave some excitement to otherwise cautious investors, resulting in increased volumes in cement, steel and pharmaceutical sectors.

Banking sector also performed well, mainly courtesy of HBL, UBL and MCB and helped Index post decent gains.

Technology stocks posted trading volume of 38.1 million shares, followed by Cement (32.7 million) and O&GMCs (15.9 million).

Among scrips, TRG topped the index with 19.5 million shares, followed by PRL (18.8 million) and HASCOL (13.1 million).

Sectors contributing to the performance include E&P (+134 points), Banks (+86 points), Cement (+49 points), Technology (+33 points), Pharma (+28 points) and Power (-17 points).

Volumes increased from 89.1 million shares to 222.4 million shares (+150 percent DoD). Average traded value also increased by 119 percent to reach US$ 53.1 million as against US$ 24.3 million.

Stocks that contributed significantly to the volumes include TRG, HASCOL, MLCF, HUMNL and PIOC, which formed 29 percent of total volumes.

Stocks that contributed positively to the index include MCB (+53 points), POL (+52 points), UBL (+36 points), PPL (+35 points) and OGDC (+32 points). Stocks that contributed negatively include HUBC (-17 points), BAHL (-14 points), DAWH (-14 points), MEBL (-7 points), and COLG (-7 points).

KARACHI: The stock market likely to move with the news flows related to budget 2020/2021 which is scheduled to announce on June 12, 2020.

Analysts at Arif Habib Limited said that with Federal Budget announcement scheduled for June 12, 2020, the market is expected to track budget related news flow.

Whereas market performance for June 2020 remains critical as during first eleven months of current fiscal year, the index has delivered a return of +0.09 percent in Pak Rupee terms.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2020) compared to Asia Pac regional average of 12.6x and while offering DY of ~8.2 percent versus ~2.8 percent offered by the region.

The market opened on a positive note this week, welcoming further ease in lockdown and opening up of several businesses with Standard Operating Procedures (SOPs) in place.

Moreover, rising oil prices, with revival of economic activity internationally, kept the E&P scrips under limelight. Besides this, inflation for the month of May 2020 also declined to 8.2 percent, in line with expectations while improvement in exports on a MoM basis also relieved investors.

While anticipation of relief reforms in Budget 2020-21 also kept the sentiment alive.

However, rapid spread of COVID-19 cases and decline in foreign reserves by USD 1.67 billion being reflected in the Pak Rupee-USD parity (depreciation to 163/USD this past week) prevented the market from outperforming.

The market settled at 34,350 points, gaining 419 points (up by 1.2 percent) WoW.

Sector-wise positive contributions came from i) Commercial Banks (401 points), ii) Oil & Gas Exploration Companies (78 points), iii) Automobile Parts & Accessories (32 points), iv) Textile Composite (25 points) and Pharmaceuticals (19 points).

However, sector-wise negative contribution came from i) Fertilizer (53 points), ii) Power Generation & Distribution (30 points) and Insurance (25 points). Scrip-wise positive contributions were led by MCB (110 points), UBL (100 points), POL (66 points), HBL (66 points) and BAHL (54 points).

Foreign selling continued this week clocking-in at USD 15.3 million compared to a net sell of USD 2.4 million last week. Selling was witnessed in Commercial Banks (USD 5.0mn) and Textile Composite (USD 4.4 million). On the domestic front, major buying was reported by Companies (USD 7.4 million) and Mutual Funds (USD 6.6 million).

Average Volumes settled at 157 million shares (down by 27 percent WoW) while average value traded clocked-in at USD 39 million (down by 27 percent WoW).

KARACHI: The stock market gained 231 points on Friday while witnessing range bound activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,350 points as against 34,120 points showing an increase of +231 points.

Analysts at Arif Habib Limited said that the market traded range bound for the most part of the session but saw gaining volumes and points by the end that reflects an increase of 231 points.

Cement, Fertilizer and Pharma stocks showed signs of recovery. Some of the scrips in Pharma sector hit upper circuit like AGP and FEROZ. Banking sector stocks showed selling pressure amid low trading volumes.

Cement sector led the volumes with 16.1 million shares, followed by Technology (10.8 million) and Inv Banks (7.5 million). Among scrips, MLCF topped the chart with 6.6 million shares, followed by JSCL (5.2 million) and TRG (4.3 million).

Sectors contributing to the performance include Cement (+54 points), E&P (+50 points), Fertilizer (+46 points), Pharma (+45 points), Textile (+12 points) and Banks (-13 points).

Volumes declined from 143.6 million shares to 89.1 million shares (-38 percent DoD). Average traded value also declined by 29 percent to reach US$ 24.3 million as against US$ 33.9 million.

Stocks that contributed significantly to the volumes include MLCF, JSCL, TRG, UNITY and MACFL, which formed 27 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+41 points), POL (+21 points), LUCK (+15 points), SEARL (+13 points) and MARI (+13 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-5 points), PSO (-3 points), SNGP (-3 points), and KAPCO (-2 points).

KARACHI: The equity market ended down by 282 points on Thursday owing to selling pressure seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,119 points as against 34,401 points showing a decline of 282 points.

Analysts at Arif Habib Limited said that the market saw selling pressure today whereby E&P and Banking sectors contributed towards the decline besides other sectors, which were already adjusting downwards for the past couple of sessions, namely Cement, Fertilizer, OMCs and Pharmaceuticals.

Overall, the Index slid by 311 points during the session after posting a small gain of 9 points early on, closing the Index -282 points.

Yields of T-bill and 10y PIB increased significantly which diminishes the prospect of further rate cut.

At the same time, lackluster participation from Mutual Funds, Banks and Insurance (and mostly on the sell side) has made current Index levels a hurdle, despite pre-budget timeframe.

International crude prices were also under pressure, which brought E&P stocks down as well. Technology sector topped the index with 18.1 million shares, followed by Power (15.8 million) and O&GMCs (13.6 million).

Among scrips, TRG led the volumes with 11.3 million shares, followed by UNITY (11.3 million) and HASCOL (8.1 million).

Sectors contributing to the performance include Banks (-85 points), E&P (-79 points), Power (-34 points), Cement (-28 points) and Food (-24 points).

Volumes increased from 129.9 million shares to 143.6 million shares (+10 percent DoD). Average traded value, on the contrary declined by 19 percent to reach US$ 33.9 million as against US$ 41.5 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, HASCOL, KAPCO and PAEL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include SNGP (+9 points), ANL (+8 points), ABOT (+7 points), PMPK (+7 points) and FFC (+5 points). Stocks that contributed negatively include OGDC (-34 points), HUBC (-31 points), PPL (-28 points), MCB (-27 points), and UBL (-24 points).