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Category: Stock & Commodity

  • Share market gains 637 points on major buying activities

    Share market gains 637 points on major buying activities

    KARACHI: The share market gained 637 points on Friday owing to significant buying activities during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,071 points as against 31,434 points showing an increase of 637 points (+2 percent DoD).

    Analysts at Arif Habib Limited said that the market opened on a positive note with +94 points although volume at start was very low.

    By the end of first session, the benchmark index grew by 261 points posting a volume of 36.9 million shares.

    Second session saw significant jump in both volumes and points with an overall volume of 134.5 million shares and index surging by 650 points.

    Besides oil chain (E&P, OMCs, Refinery), buying activity was observed in Cement sector (which had expectation of increase in Cement prices in North) and also in the Banking sector.

    Cement sector led the volumes with 22.7 million shares (courtesy of MLCF (13.1 million) & DGKC (3.4 million)), followed by Banks (20.9 million) and Power (20.8 million).

    Among Banks, BOP traded the most with 14.4 million shares and Power sector had KEL with 17.6 million shares.

    Sectors contributing to the performance include Banks (+182 points), E&P (+136 points), Power (+61 points), Fertilizer (+57 points) and Cement (+49 points).

    Volumes increased from 124.5 million shares to 135.1 million shares (+9 percent DoD). Average traded value also increased by 20 percent to reach US$ 27.2 million as against US$ 22.6 million.

    Stocks that contributed significantly to the volumes include KEL, BOP, MLCF, WTL and PAEL, which formed 44 percent of total volumes.

    Stocks that contributed positively include HBL (+74 points), OGDC (+51 points), UBL (+46 points), PPL (+45 points) and HUBC (+39 points). Stocks that contributed negatively include AGIL (-2 points), THALL (-2 points), COLG (-1 points), SYS (-1 points), and BWCL (-1 points).

  • Stock markets ends down 131 points on adjustments

    Stock markets ends down 131 points on adjustments

    KARACHI: The stock market ended down by 131 points due to adjustments in blue chip scrips.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,434 points as against 31,565 points showing a decline of 131 points.

    Analysts at Arif Habib Limited said that the market has been trading in a narrow range for the past week without breaching 31,000 level, although recent sessions have seen Index largely adjusting downwards.

    Selling pressure was evident in index heavy weights like ENGRO, LUCK, OGDC, PPL, HBL and UBL, which kept any increase firmly in check.

    Market on Close saw rates spiking for KEL, BOP, LUCK, OGDC. Power sector performed well in volume terms by registering 34.5 million shares on the bourse, out of which KEL garnered 31.4 million shares.

    This was followed by Cement Sector (17.4 million) and Technology (14.9 million).

    Among scrips, WTL and MLCF trailed KEL with 11.8 million and 10.4 million shares respectively.

    Sectors contributing to the performance include Banks (-55 points), Fertilizer (-47 points), O&GMCs (-20 points), Power (-18 points) and Chemical (-12 points).

    Volumes increased further from 104.7 million shares to 124.2 million shares (+19 percent DoD). Average traded value, on the contrary, declined by 15 percent to reach US$ 22.6 million as against US$ 26.7 million.

    Stocks that contributed significantly to the volumes include KEL, WTL, MLCF, ASTL and BOP, which formed 49 percent of total volumes.

    Stocks that contributed positively include MCB (+21 points), KEL (+13 points), DAWH (+12 points), EFUG (+6 points) and BOP (+6 points). Stocks that contributed negatively include HBL (-46 points), ENGRO (-40 points), HUBC (-36 points), BAFL (-16 points), and SEARL (-11 points).

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  • K-Electric awards contract to set up 900MW power plant

    K-Electric awards contract to set up 900MW power plant

    KARACHI: K-Electric – power generation, transmission and distribution company – has awarded a contract to establish 900MW power plant with estimated cost of around $425 million, an announcement said on Thursday.

    According to information shared with Pakistan Stock Exchange (PSX) the power company said that the board of directors at its emergent meeting held on September 25, 2019 approved award of EPC contract to Siemens – Harbin consortium to establish 900MW combined cycle power plant at Bin Qasim.

    The estimated contract value would be around $425 million.

    The project will be executed on fast track and additional power will be available in summer 2021.

    The project will positively contribute to bridge electricity demand-supply deficit in KE service area, the company said.

  • Stock market remains traded in narrow range; ends down by 264 points

    Stock market remains traded in narrow range; ends down by 264 points

    KARACHI: The stock market ended down by 264 points on Wednesday as market continued trading in narrow range.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,565 points as against 31.829 points showing a decline of 264 points.

    Analysts at Arif Habib Limited said that the market continued trading in a narrow range between +39 points and -357 points and closed the session -264 points.

    International crude posted losses and the same had negative impact on local oil & gas listed chain from E&P to OMCs.

    PSO and PPL also had financial results today, which were mostly in line or better than expectation, however, near term risks kept pressure on both the scrips till end, although PPL saw price jacking up post result announcement after an initial drop.

    Power sector led the volumes table with 16.9 million shares, followed by Technology (15.7 million) and O&GMCs (13.1 million).

    Scrip wise activity shows KEL leading the volumes with 14.9 million shares, followed by WTL (12.4 million and PSO (6.9 million).

    Sectors contributing to the performance include Banks (-108 points), Power (-48 points), E&P (-34 points), Fertilizer (-29 points) and Food (-12 points).

    Volumes increased from 88.8 million shares to 952 million shares (+7 percent DoD). Average traded value also increased by 6 percent to reach US$ 26.3 million as against US$ 24.9 million.

    Stocks that contributed significantly to the volumes include WTL, PSO, MLCF, KEL and HASCOL, which formed 39 percent of total volumes.

    Stocks that contributed positively include ABL (+9 points), FABL (+6 points), ICI (+6 points), JLICL (+5 points) and EFUG (+5 points).

    Stocks that contributed negatively include HUBC (-46 points), UBL (-36 points), HBL (-36 points), OGDC (-27 points), and ENGRO (-14 points).

  • Stock market gains 78 points in narrow band trade

    Stock market gains 78 points in narrow band trade

    KARACHI: The stock market gained 78 points on Tuesday as benchmark index was remained traded in a narrow band.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,829 points as against 31,751 points showing an increase of 78 points.

    Analysts at Arif Habib said that the KSE-100 index continued trading in a narrow band with limited upside.

    The index plunged by 315 points during the session and recovered +141 points later on.

    Selling pressure was mostly observed in Cement, Banks and Oil & Gas scrips. Cement sector led the volumes with 25.6 million shares, out of which MLCF realized 17.6 million shares, followed by FCCL (2.9 million)

    Banking sector followed Cement with 8 million shares, which was mainly contributed by UBL, BAFL and BOP. Power sector ranked third among top volume leaders, registering trade volume of 7.6 million shares, mostly contributed by KEL (4.6 million) and HUBC (2 million).

    Sectors contributing to the performance include Banks (-40 points), E&P (+33 points), Chemical (+19 points), O&GMCs (+17 points), and Food (+10 points).

    Volumes inched up from 86.6 million shares to 88.7 million shares (+2 percent DoD). Average traded value also posted a slight increase from US$ 24.8 million to US$ 24.9 million (+0.3 percent DoD).

    Stocks that contributed significantly to the volumes include MLCF, KEL, FCCL, PAEL and DGKC, which formed 34 percent of total volumes.

    Stocks that contributed positively include PPL (+23 points), COLG (+13 points), PSO (+13 points), BAHL (+12 points) and LUCK (+10 points). Stocks that contributed negatively include MCB (-15 points), UBL (-15 points), HBL (-14 points), MEBL (-10 points), and HUBC (-10 points).

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    Stock market ends down by 360 points

  • Stock market ends down by 360 points

    Stock market ends down by 360 points

    KARACHI: The stock market ended down by 360 points on Monday owing to negative sentiments in oil and gas sector.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,751 points as against 32,111 points showing a decline of 360 points.

    Analysts at Arif Habib Limited said that the start of the rollover week saw Market taking negative direction and an overall decline of around 400 points during the session.

    Although international crude prices were at similar levels as observed at the end of last week, local oil & gas chain showed receding stock prices from E&P to OMCs.

    Resultantly, OGDC, PPL, ATRL, NRL, PSO showed significant declines. Besides, Cement and Banking sector stocks also saw selling pressure.

    MLCF issued financial projections pertinent with 85 percent Rights issue that showed near term losses and caused the stock price to hit lower circuit.

    Cement sector led the volumes with 15.7 million shares, followed by Technology (9.5 million) and O&GMCs (8 million).

    Scrip wise activity shows MLCF at the top with 6.4 million shares, followed by PSO (5.2 million) and FCCL (4.3 million).

    Sectors contributing to the performance include Banks (-101 points), E&P (-94 points), Cement (-46 points), O&GMCs (-26 points) and Pharma (-21 points).

    Volumes declined from 153.3 million shares to 86.6 million shares (-44 percent DoD). Average traded value also declined by 34 percent to reach US$ 24.8 million as against US$ 37.3 million.

    Stocks that contributed significantly to the volumes include MLCF, PSO, FCCL, TRG and PAEL, which formed 27 percent of total volumes.

    Stocks that contributed positively include ENGRO (+19 points), SHFA (+5 points), BAHL (+5 points), JLICL (+5 points) and HGFA (+4 points). Stocks that contributed negatively include OGDC (-55 points), HBL (-45 points), PPL (-39 points), MCB (-21 points), and UBL (-20 points).

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    Weekly Review: stock market to keep positive momentum

  • Weekly Review: stock market to keep positive momentum

    Weekly Review: stock market to keep positive momentum

    The stock market is poised to sustain its positive trajectory in the coming week, supported by an improving macroeconomic environment.

    (more…)
  • Stock market shed 73 points in range bound activity

    Stock market shed 73 points in range bound activity

    KARACHI: The stock exchange declined by 73 points on Friday in a range bound trading activity.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,111 points as against 32,184 points showing a decline of 73 points.

    Analysts at Arif Habib Limited said that the market remained range bound today, trading above 32,000 level, although moved between +149 points and -129 points during the day.

    Volumes again registered healthy growth from 137 million shares yesterday to 153 million shares.

    Oil Chain remained under selling pressure with the exception of PSO that showed considerable gain.

    Banks, Steel, Cement also downplayed, which brought the index under pressure in the second session. MLCF issued financial results today that saw 85 percent right issuance besides nominal dividend of 5 percent.

    By the end of session, MLCF hit lower circuit and closed at that level. Cement sector led the volumes with 26.3 million shares followed by Technology (16 million) and Chemical (13.4 million).

    Scrip wise activity reflects MLCF registering 18 million shares, followed by TRG (6.9 million) and PIBTL (6.6 million).

    Sectors contributing to the performance include Cement (-49 points), Banks (-25 points), Technology (-11 points), Investment Banks (+29 points), O&GMCs (+15 points).

    Volumes increased further increased from 137 million shares to 153 million shares (+12 percent DoD). Average traded value on the contrary witnessed slight decline of 1.3 percent DoD to reach US$ 37.2 million as against US$ 37.7 million.

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

    Stocks that contributed positively include DAWH (+30 points), PPL (+20 points), PSO (+14 points), BAFL (+12 points) and EPCL (+7 points). Stocks that contributed negatively include OGDC (-22 points), HBL (-19 points), LUCK (-18 points), FCCL (-8 points), and TRG (-8 points).

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  • SECP board approves amendments to exchange traded fund regulations

    SECP board approves amendments to exchange traded fund regulations

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved amendments to Exchange Traded Funds Regulations and other regulations at its policy board meeting which met in Islamabad under the chairmanship of Professor Khalid Mirza, said a statement on Wednesday.

    The Policy Board welcomed the new Chairman, SECP, Aamir Khan and accredited his joining to the improvement in the stock market and development of new initiatives.

    The Policy Board reviewed the implementation of its decisions of previous meetings and was satisfied with the overall workings of the Commission. The Chairman and the Board commended Aamir Khan for ensuring that the decisions have been implemented in an expeditious and progressive manner.

    In order to facilitate launch of ETFs, the Policy Board, amongst several other recommendations of the Regulations Committee of the Board, approved amendments in the Exchange Traded Funds Regulations which have been revamped to add flexibility for fund managers to appoint separate intermediaries for performing the functions of market maker and authorized participant.

    This shall enable fund managers for on-boarding market makers easily which are now subject to rationalized regulations that aim to reduce cumbersome requirements and decrease the cost of doing business for market makers.

    In addition to regulatory changes, system level modifications have also been made to enable market makers for performing their functions seamlessly with minimum inventory.

    The approved regulatory amendments aim to provide maximum facilitation to fund managers and market makers through streamlined regulatory requirements based on international benchmarks.

    Other approvals of the Policy Board include:

    (i) Amendments in Futures Brokers (Licensing & Operations) Regulations, 2018 which provide relaxation in education requirement of CEO, elimination of the requirement of NCB, deletion of the requirement of wealth statement, and reduction in frequency of reports by compliance officer,

    (ii) Amendments in the Securities Brokers (Licensing & Operations) Regulations 2016 extending the timeline for complying with financial resource requirements till December 2019, and deletion of requirement to submit NICL Building, 63 Jinnah Avenue, Islamabad certificate of commencement of business,

    (iii) Amendments in CDC Regulations – Reforms in CDC Regulatory Framework for ease of doing business by direct credit of securities in the CDS issued by way of right issue of public unlisted and private companies; relaxation in appointment of independent Transfer Agent by private and single member companies, and

    (iv) PSX to act as the sole frontline regulator and may draw upon the assistance of NCCPL and CDC to outsource the compliance function of PSX, to the extent of supervision or conducting any investigation, inspection or enquiry and monitoring compliance of securities brokers.

    The Policy Board was also given a presentation by the Commission pertaining to the implementation of the FATF Recommendations including instances of penalties imposed in various cases.

    The Policy Board directed that the FATF guidelines should be followed but the focus should remain on the areas that are critical to curb the menace of financing of terrorism/money laundering and we should take care not to affect business activity.

    The Securities and Exchange Policy Board, in pursuance of Section 12 of the Act 1997, comprises ex-officio members of the Ministries of Finance, Commerce, and Law, SBP, SECP and persons of eminence from the private sector.

  • Stock market ends down by 353 points on easing international oil prices

    Stock market ends down by 353 points on easing international oil prices

    KARACHI: The stock market fell by 353 points on Wednesday on easing oil prices in international market.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,555 points as against 31,909 points showing a decline of 353 points.

    Analysts at Arif Habib Limited said that after the restoration of crude production at Aramco facility in Abqaiq, international crude prices saw a downward trend and that similar trend was witnessed at PSX as well.

    Oil chain including E&P, OMCs, and Refineries drove the market with volume amid declining prices.

    IMF’s nod on government’s measures failed to give confidence to the investors on the macro-economic front.

    Besides, oil & gas chain, Cement sector also saw selling pressure, with the most decline observed in LUCK in past sessions.

    OGDC also posted higher than anticipated financial results but couldn’t bring any positivity to the falling stock price.

    Technology sector topped the volumes chart with 13.9 million shares followed by Cement (12.2 million) and O&GMCs (11.5 million).

    Scrip-wise activity shows WTL leading the volumes with 10.3 million shares followed by PAEL (8.5 million) and KEL (8.3 million).

    Sectors contributing to the performance include E&P (-123 points), Banks (-90 points), Fertilizer (-47 points), Cement (-45 points) and Power (-30 points).

    Volumes increased from 99.3 million shares as against 122 million shares (-19 percent DOD).

    Average traded value also declined by 24 percent to reach US$ 25.4 million as against US$ 33.3 million.

    Stocks that contributed significantly to the volumes include WTL, PAEL, KEL HASCOL and OGDC, which formed 38 percent of total volumes.

    Stocks that contributed positively include SEARL (+8 points), PSO (+8 points), NATF (+7 points), COLG (+6 points) and FCEPL (+4 points).

    Stocks that contributed negatively include PPL (-51 points), POL (-39 points), LUCK (-36 points), UBL (-25 points), and ENGRO (-22 points).

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