KARACHI: The stock market ended down by 65 points on Wednesday in mixed trading sessions during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,561 points as against 42,626 points showing a decline of 65 points.
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Equity market sheds 121 points on selling in major scrips
KARACHI: The equity market lost 121 points on Tuesday owing to selling pressure seen in major scrips.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,626 points as against 42,748 points showing a decline of 121 points.
Analysts at Arif Habib Limited said that the market continued facing downward pressure with the benchmark index slipping 409 points after registering an increase of 218 points earlier in the session.
PSO, among oil & gas plays and FFBL, among Fertilizer, contributed positively to the index, however, selling in Cement, Steel, E&P and Refinery sectors faced selling pressure, whereas banking sector stocks saw price gains in MoC.
Positive sentiment in HUBC and PSO was caused by the news of ECC allowing issuance of Energy Sukuk II, giving way to resolution of financial woes.
Top volume leading sectors include Technology with 30.7 million shares, followed by Banks (23.4 million) and Fertilizer (18.6 million).
Among scrips, TRG led the volumes with 17.4 million shares, followed by BYCO (11.2 million) and FFBL (9.8 million).
Sectors contributing to the performance include Fertilizer (-139 points), Cement (-15 points), Inv Banks (+36 points), Power (+30 points) and Banks (+6 points).
Volumes increased slightly to reach 177.6 million shares against 173.9 million shares (+2 percent DoD). Average traded value declined by 4 percent to reach US$ 44.1 million as against US$ 45.6 million.
Stocks that contributed significantly to the volumes include TRG, BYCO, FFBL, WTL and EPCL, which formed 33 percent of total volumes.
Stocks that contributed positively include DAWH (+33 points), HUBC (+27 points), MEBL (+9 points), UBL (+9 points) and PSO (+8 points).
Stocks that contributed negatively include ENGRO (-88 points), EFERT (-35 points), FFC (-18 points), HBL (-9 points), and PPL (-8 points).
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NCCPL says CGT December payment due on January 29
KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Tuesday announced date for payment of capital gain tax (CGT) for the month of December 2019.
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SECP extends company registration facility to transgenders
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has extended facility of company registration to transgenders community.
The regulator introduced a separate category for members of transgenders community in its online portal for company registration and compliance i.e. eServices.
This initiative is in line with the government efforts to grant fundamental rights to transgender community, under the “the Transgender Persons (Protection of Rights) Act, 2018”.
This Act allows individuals to mention their identity on all official documents including IDs, passport, educational certificates and driving licenses.
Now, in eServices, a person has an option to self-identify under three classifications i.e. male, female and other. With this initiative, the transgender community is able to register a company or become shareholder or director in a company with personal identity of their choice.
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Stock market declines by 420 points on selling activities
KARACHI: The stock market fell by 420 points on Monday owing to round the clock selling in the equity market.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,747 points as against 43,168 points showing a decline of 420 points.
First day of the change in circuit breaker met with an overall negative performance on the bourse. After an initial surge of 135 points, market largely remained under selling pressure throughout the session and went down by 535 points during the session.
MoC showed recovery of around 100 points from day’s low and closed the session at -420 points. Triggers causing investors to stay cautious included an early called FATF meeting, pending increase in gas prices by ECC and political uncertainty that marred the sentiment last week.
Besides, the ECC also decided to reduce GIDC charge with the aim to reduce Urea price/bag. Resultantly, EFERT hit lower circuit breaker, whereas FFC and FFBL showed positive price performance.
Banking sector topped the chart with 27.2 million shares, followed by Technology (25.6 million) and Fertilizer (25.3 million). Among scrips, EFERT ranked first with 15.3 million shares, followed by TRG (11.9 million) and BOP (11.7 million).
Sectors contributing to the performance include Banks (-129 points), Fertilizer (-78 points), Cement (-51 points), INv Banks (-37 points) and O&GMCs (-25 points).
Volumes declined further from 211.4 million shares to 173.9 million shares (-18 percent DoD). Average traded value, on the contrary, increased by 12 percent to reach US$ 45.6 million as against US$ 40.7 million.
Stocks that contributed significantly to the volumes include EFERT, TRG, BOP, WTL and SMBL, which formed 33 percent of total volumes.
Stocks that contributed positively include FFC (+56 points), MARI (+44 points), COLG (+11 points), BAFL (+8 points) and FFBL (+8 points). Stocks that contributed negatively include ENGRO (-85 points), EFERT (-55 points), UBL (-38 points), HBL (-37 points), and DAWH (-33 points).
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Weekly Review: Positive sentiments likely prevail
KARACHI: Positive sentiments likely prevail in the equity market during next week owing to inflows in debt market and stable exchange rate, analysts said.
Analysts at Arif Habib Limited said expect that the market to be positive in the upcoming weeks as sentiments should reflect improvement in foreign exchange reserves of the State Bank of Pakistan (SBP) and stable Pak Rupee/USD parity amid inflows in T-bills and narrowing Current Account Deficit (CAD).
Albeit, commencement of the financial result season in the coming week will keep certain scrips under limelight.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.6x (2020) compared to Asia Pac regional average of 12.5x and while offering DY of around 6.3 percent versus 2.7 percent offered by the region.
The market commenced on a negative note this week with investors resorting to profit-taking.
With coalition partners showing dissatisfaction over policies of the PTI-led government, lackluster momentum prevailed.
Furthermore, concerns over rising inflation kept the sentiment weak. Whereas, overwhelming response to the Treasury Bill Auction (bids over Rs1.1 trillion), cushioned the dip. Albeit, the market closed at 43,168 points, (down by 0.1 percent / 39 points WoW).
Sector-wise positive contributions came from i) Commercial Banks (109 points), ii) Automobile Parts & Accessories (29 points), iii) Automobile Assembler (20 points), iv) Refinery (20 points), and v) Textile Weaving (12 points). Whereas, negative sector-wise contribution came from Oil & Gas Exploration Companies (96 points) and Power Generation & Distribution (55 points). Scrip-wise positive contributions were led by MEBL (31 points), HBL (28 points), THALL (25 points), BYCO (21 points) and HMB (18 points).
Foreign buying continued this week clocking-in at USD 2.8 million compared to a net buy of USD 7.0 million last week. Buying was witnessed in E&Ps (USD 1.4 million) and Fertilizer (USD 1.3 million).
On the domestic front, major selling was reported by Insurance Companies (USD 2.8 million) and Individuals (USD 2.2 million). Average Volumes settled at 246 million shares (down by 19 percent WoW) while average value traded clocked-in at USD 49 million (down by 38 percent WoW).
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PSX appoints FU Hao as non-executive director
KARACHI: Pakistan Stock Exchange (PSX) has appointed FU Hao, a representative of Shanghai Stock Exchange, as non-executive member on the board.
In a communication the stock exchange informed that FU Hao, a representative of Shanghai Stock Exchange, has been appointed as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX) with immediate effect.
The appointment has been made by the Board of PSX at its meeting held on Friday January 17, 2020, in order to fill the casual vacancy created due to resignation of QUE Bo on the Board, as communicated earlier.
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Stock market gains 103 points amid record inflows
KARACHI: The stock market increased by 103 points on Friday amid record foreign inflows in debt securities. Analysts at Arif Habib Limited said that the week ended nearly where it began, i.e. near 43,000 level.
During the week, the index did slip towards 42800 but closed the week above 43,000.
Among OMCs, PSO made an upward move whereas E&P & Refineries remained largely unchanged and declined respectively.
Throughout the week, political uncertainty reverberated that cautioned otherwise optimistic investors and therefore a halt in index performance.
By the end of session, news of further foreign inflows of $500 million in treasury bills broke that proved to be single highest inflow in a single day yet.
Positive sentiment was observed in the equity market as well but MoC activity pulled the index back. Banking sector again led the pack with 46.9 million shares, followed by Technology (42.7 million) and Cement (20.5 million).
Among scrips, BOP topped the chart with 27.8 million, followed by TRG (23.9 million) and WTL (8.6 million).
Sectors contributing to the performance include Others (+21 points), O&GMCs (+17 points), Autos (+17 points), Fertilizer (+11 points), Textile (-11 points).
Volumes declined from 229.9 million shares to 211.2 million shares (-8 percent DoD). Average traded value also declined by 4 percent to reach US$ 40.7 million as against US$ 42.3 million.
Stocks that contributed significantly to the volumes include BOP, TRG, WTL, KEL and DCL, which formed 35 percent of total volumes.
Stocks that contributed positively include PSEL (+21 points), PSO (+16 points), THALL (+13 points), MEBL (+13 points) and ENGRO (+13 points). Stocks that contributed negatively include MCB (-19 points), DAWH (-9 points), BOP (-5 points), HUBC (-5 points), and NBP (-5 points).
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Equity market gains 72 points amid range bound activity
KARACHI: The equity market gained 72 points on Thursday amid range bound trading activity during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,065 points as against 42,993 points showing an increase of 72 points.
Analysts at Arif Habib Limited said that the market maintained the range bound activity, witnessed for the past 2 sessions, where the index moves both directions and in the end maintains 43,000 level.
Political uncertainty has so far kept the otherwise bright outlook muddled.
Banking sector scrips also held on to price levels, whereas Index heavy weights such as ENGRO, POL, OGDC, HBL, PSO remained under slight pressure.
In general, Cement and Textile sector scrips performed well and price gains were observed, although a news article quoted additional cost burden being added by the government on the textile sector.
Banking sector led the volumes with 81.1 million shares, contributed mainly by BOP (60.3 million), followed by Cement (33.9 million) and Technology (29.4 million).
Among scrips, WTL (11.7 million) and TRG (9.1 million) followed BOP.
Sectors contributing to the performance include Banks (+63 points), Textile (+21 points), Cement (+13 points), E&P (-18 points), Chemical (-16 points), Inv Banks (-16 points).
Volumes increased from 171.3 million shares to 229.9 million shares (+34 percent DoD). Average traded value increased by merely 7 percent to reach US$ 42.3 million as against US$ 39.6 million.
Stocks that contributed significantly to the volumes include BOP, WTL, TRG, MLCF and POWER, which formed 42 percent of total volumes.
Stocks that contributed positively include FFC (+17 points), MEBL (+17 points), MCB (+17 points), BOP (+16 points) and HMB (+15 points). Stocks that contributed negatively include DAWH (-17 points), COLG (-16 points), OGDC (-15 points), ENGRO (-12 points), and POL (-12 points).
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Equity market falls by 214 points on political uncertainty
KARACHI: The equity market fell by 214 points on Wednesday owing to political uncertainty as allies of ruling party are showing disapproval.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,993 points as against 43,207 points showing a decline of 214 points.
Analysts at Arif Habib Limited said that political uncertainty took controls over sentiment today.
Allies of PTI are one by one showing disapproval of their policies and hinting a crisis in the making that caused investors to be safe than sorry.
Investors kept booking profit at current levels which exerted pressure on oil & gas chain (i.e. OMCs, E&P and Refineries).
Banking sector also remained slow, whereas Cement sector had some buying interest that caused prices to be on the higher side.
Overall, Cement sector led the volumes with 34.4 million shares, followed by Banks (32.9 million) and Technology (16.2 million).
Among scrips, BOP led the volumes with 19.6 million shares, followed by MLCF (18.2 million) and TRG (9.2 million).
Sectors contributing to the performance include E&P (-553 points), Power (-40 points), Fertilizer (-25 points), other (-23 points), Banks (-21 points).
Volumes declined further from 249.7 million shares to 171.3 million shares (-32 percent DoD). Average traded value also declined by 22 percent to reach US$ 39.6 million as against US$ 50.4 million.
Stocks that contributed significantly to the volumes include BOP, MLCF, TRG, STPL and UNITY, which formed 37 percent of total volumes.
Stocks that contributed positively include MCB (+18 points), PAKT (+7 points), DGKC (+7 points), AICL (+7 points) and FML (+6 points). Stocks that contributed negatively include HUBC (-35 points), PPL (-27 points), PSEL (-23 points), DAWH (-14 points), and POL (-12 points).