Category: Stock & Commodity

KARACHI: The stock market may slow down during next week but overall sentiments would remain positive, analysts said.

Analysts at Arif Habib Limited expect that the market momentum to slow down amid profit-taking.

“The overall sentiment to remain positive with investors continuing to accumulate scrips at current attractive valuations,” they added.

Further, foreign interest is likely to revive amid improving external account balance and strengthening foreign exchange reserves.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) sharply bounced back this week with a positive weekly return after a long six-week bloodbath.

Participation in the index also increased with volumes witnessing a drastic surge compared to recent trends.

The index closed at 31,350 points, rising 2585 points WoW (9 percent WoW) which is the highest weekly return ever in terms of points.

The stellar inflection of the index was long over-due with valuations nose-diving to dirt cheap levels.

Moreover, improving trend of the external account balance further rejuvenated sentiment, with the Current Account Deficit declining 73 percent YoY/37 percent MoM during July 2019 (USD 579 million).

The latest PIB auction saw raising of Rs434 billion against a target of Rs100 billion with cut-off yields declining by 25 bps and 40 bps for the 5-Yr and 10-Yr PIBs respectively, indicating that the markets see interest rates to have peaked.

Reduction in the cut-off yields is likely to have a positive bearing on equity valuations.

That said, the last trading session saw a decline of 534 points primarily attributable to profit-taking.

Sector-wise positive contributions were led by i) Commercial Banks (744 points) ii) Oil & Gas Exploration Companies (469 points), iii) Fertilizer (319 points), Cement (235 points), and v) Power Generation & Distribution (216 points).

Scrip-wise positive contributions came from ENGRO (256 points), OGDC (205 points), HBL (188 points), HUBC (160 points) and MCB (147 points).

Foreign selling was witnessed this week clocking-in at USD 4.97 million compared to a net buy of USD 1.70 million last week.

Selling was witnessed in Exploration & Production (USD 6.0 million) and fertilizer (USD 0.8 million). On the domestic front, major buying was reported by Individual (USD 6.5 million) and Broker Proprietary Trading (USD 3.8 million).

Average Volumes settled at 174 million shares (up by 135 percent WoW) while average value traded clocked-in at USD 38 million (up by 83 percent WoW).

KARACHI: The stock market witnessed bullish run for the fourth consecutive day and gained 912 points on Thursday.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,884 points as against 30,973 points showing an increase of 912 points.

The market cumulatively gained 3,121 points during last four sessions.

Analysts at Arif Habib Limited said that for the fourth consecutive session, market went up.

This time with a jump of 912 points, they said.

Yesterday’s PIB auction, especially 10Y bond, helped investors take a view on Policy rate, which seems mild and hinting that chances of a rate cut are improving.

Buying was observed across the board, and major contribution came from Banks, E&P and Power sector scrips.

Technology sector led the volumes with 41.8 million shares, followed by Cement (34.4 million) and Banks (32.8 million).

Scrip wise activity shows WTL topping the chart with 22.5 million shares, followed by KEL (17.9 million) and BOP (14.8 million).

BOP got traction from better result expectation, which is due to be announced tomorrow. Similarly, POL hit upper circuit on account of discovery in Makori field.

Sectors contributing to the performance include E&P (+212 points), Banks (+181 points), Fertilizer (+92 points), Cement (+86 points), and Power (+81 points).

Volumes almost doubled from 134.5 million shares to 261.6 million shares (+94 percent DoD). Average traded value also increased by 42 percent to reach US$ 48.1 million as against US$ 33.8 million.

Stocks that contributed significantly to the volumes include WTL, KEL, BOP, UNITY and TRG, which formed 31 percent of total volumes.

Stocks that contributed positively include OGDC (+81 points), PPL (+61 points), ENGRO (+58 points), POL (+52 points) and HUBC (+50 points). Stocks that contributed negatively include DAWH (-6 points), ATLH (-2 points), NCPL (-1 point), ICI (-1 point) and SHEL (-0 point).

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KSE-100 index makes gain for third consecutive session

KARACHI: The stock market gained for third consecutive trading session on Wednesday owing to improved confidence of investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,973 points as against 30,419 points showing an increase of 554 points.

The market so far gained 2209 points during the past three trading sessions.

Analysts at Arif Habib Limited said that the market continued the ascent on the third consecutive session today, with an overall increase of 554 points giving confidence to the retail and institutional Investors alike that perhaps the worst is over.

Index heavy weights such as OGDC, HBL, UBL, ENGRO, LUCK played a major role in pulling up the Index. Buying was observed almost across the board, with major impact coming from Banks and Fertilizer sectors.

Among scrips, HUBC played a major role in improving the sentiment, whereas TRG and MLCF posted volumes in excess of 10 million each.

Sectors contributing to the performance include Banks (+122 points), Fertilizer (+87 points), Power (+85 points), Cement (+77 points), E&P (+69 points).

Volumes slightly declined from 142.6 million shares to 134.5 million shares (-6 percent DoD). Average traded value also declined by 4 percent to reach US$ 33.8 million as against US$ 35.3 million.

Stocks that contributed significantly to the volumes include TRG, MLCF, BOP, ISL and KEL, which formed 30 percent of total volumes.

Stocks that contributed positively include HUBC (+69 points), ENGRO (+64 points), UBL (+55 points), LUCK (+41 points) and HBL (+36 points). Stocks that contributed negatively include IGIHL (-6 points), DAWH (-5 points), BAHL (-4 points), SHFA (-4 points) and EFUG (-4 points).

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Stock market recovers 857 points on major activities in banks, E&P sectors

KARACHI: The stock market recovered another 857 points on Tuesday owing to significant activities in exploration and production (E&P) and banking sectors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,419 points as against 29,562 points showing an increase of 857 points.

The stock market witnessed gain of 1,655 points during last two days after facing massive decline over the past few weeks.

Analysts at Arif Habib Limited said that the market was opened on a positive note today with +86 points and went as high as 941 points during the session today.

Major contributors to the index have been Banks and E&P Sectors. Index heavy weights, including ENGRO, HBL, UBL, MCB along with Auto sector scrips hit upper circuits and maintained that level for fair part of the session.

Most of the volume is observed in Banks, Cement and Technology sectors contributing 24.5 million, 17.8 million and 15.6 million respectively. Among scrips, BOP led the volumes with 10.3 million shares, followed by TRG (8.9 million) and MLCF (6.9 million).

Sectors contributing to the performance include Banks (+354 points), E&P (+152 points), Fertilizer (+113 points), Power (+70 points), and O&GMCs (+33 points).

Volumes increased further from 102.5 million shares to 142.3 million shares (+39 percent DoD). Average traded value also increased by 42 percent to reach US$ 35.3 million as against US$ 24.8 million.

Stocks that contributed significantly to the volumes include BOP, TRG, MLCF, PPL and KEL, which formed 27 percent of total volumes.

Stocks that contributed positively include HBL (+88 points), ENGRO (+80 points), MCB (+73 points), HUBC (+66 points) and UBL (+64 points). Stocks that contributed negatively include FATIMA (-3 points), FFBL (-3 points), KEL (-1 point), PAEL (-1 point) and KTML (-1point).

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Stock market gains around 800 points on improved investors’ confidence

KARACHI: The stock market on Monday gained by around 800 points on improved confidence of investors after after significant decline during past many trading sessions.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,562 points as against 27,765 points showing an increase of 798 points.

Analysts at Arif Habib Limited said that the KSE-100 index increased significantly today, after an initial stutter of +/- 100 points.

Apparently, the mutual funds, which have been a major seller during the past several sessions, were not selling with the same aggression as in recent past.

E&P and Banks, which have received several bantering in the past couple of sessions, moved north with most volume observed in Banks.

Besides, the anticipation of lower current account deficit for the month of July 2019, talks of EMOF by State Entities were making rounds, which caused investors to remain optimistic and buy.

Several scrips, among Steel, Cement and Banking sectors hit upper circuit.

Banking sector led the volumes table with 15.2 million shares, followed by Cement (13.6 million) and O&GMCs (11.1 million).

Among scrips, TRG topped the volume charts with 7.5 million, followed by SMBL (6 million) and MLCF (5.9 million).

Sectors contributing to the performance include Banks (+257 points), E&P (+142 points), Fertilizer (+116 points), Cement (+63 points), and Power (+60 points).

Volumes also increased from 65.2 million shares to 102.5 million shares (+57 percent DoD). Average traded value also increased by 15 percent to reach $ 24.8 million as against $ 21.5 million.

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

Stocks that contributed positively include HBL (+84 points), OGDC (+73 points), MCB (+70 points), ENGRO (+59 points) and PPL (+53 points). Stocks that contributed negatively include NESTLE (-15 points), ABOT (-6 points), MTL (-5 points), AGIL (-1 points) and SHEL (-1 points).

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Stock market ends down by 664 points on negative sentiments

KARACHI: The stock market ended down by 664 points on Friday as various negative reports were flowing on economic front.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 28,765 points as against 29,429 points showing a decline of 664 points.

Analysts at Arif Habib Limited said that the market continued trending down even after a break of a week. A host of negative news flow on economic front as well as on the border kept Investors’ nerves jittery.

Mutual Funds have lately been the dominant seller, for reasons of redemption, in E&P, Power and Banking sectors.

Other than ISL (financial results due to be announced on Aug 19th) and NCL (news of Buy back), both of which hit upper circuit, majority stocks went down.

PPL hit lower circuit in the closing minutes, whereas LUCK also traded at lower circuit.

E&P sector led the volumes table with 9.7 million shares, followed by Cement (9.1 million) and Banks (7.2 million). PPL did the most volume with 6.3 million shares, followed by MLCF (3.8 million) and ISL (3.7 million).

Sectors contributing to the performance include E&P (-169 points), Fertilizer (-144 points), Banks (-100 points), Cement (-63 points), Power (-54 points).

Volumes declined further from 76.4 million shares to 65.1 million shares (-15 percent DoD). Average traded value on the contrary increased by 11 percent to reach US$ 21.5 million as against US$ 19.5 million.

Stocks that contributed significantly to the volumes include PPL, MLCF, ISL, OGDC and EPCL, which formed 31 percent of total volumes.

Stocks that contributed positively include DAWH (+5 points), ISL (+5 points), MCB (+4 points), BAFL (+4 points) and NCL (+3 points). Stocks that contributed negatively include ENGRO (-70 points), PPL (-62 points), OGDC (-61 points), FFC (-52 points) and LUCK (-48 points).

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Stock market falls by 309 points amid selling pressure

With the index set to pause for the Eid break next week, stock investors have an opportunity to step back, reflect, and strategize. The recent tumultuous week has left market participants grappling with substantial losses, but analysts at Arif Habib Limited encourage reassessment of the situation, highlighting potential value-buying opportunities amid the downturn.

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KARACHI: The stock market registered 309 points decline on Friday amid selling pressure in blue chip stocks.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,429 points as against 29,738 points showing a decline of 309 points.

Analysts at Arif Habib Limited said that the market continued trimming down today, with selling pressure in Banks, E&P and Cement sector stocks.

Coming MSCI review had Investors concern about selling activity from Foreigners, which caused this selling pressure in blue chip stocks in Banks, E&P and Cement sectors.

Mid cap Cement, Steel and Refinery sector scrips traded green. NCL hit upper circuit upon notification of buy back. Cement sector led the volumes table with 14.8 million shares, followed by Technology (9.8 million) and Banks (9.5 million). MLCF led the volumes with 7.7 million shares, followed by EPCL (5 million) and TRG (4.8 million).

Sectors contributing to the performance include Banks (-143 points), E&P (-119 points), Fertilizer (-49 points), O&GMCs (-22 points), Chemical (-11 points).

Volumes declined from 109.3 million shares to 76.4 million shares. Average traded value also declined by 29 percent to reach US$ 19.5 million as against US$ 27.4 million.

Stocks that contributed significantly to the volumes include MLCF, EPCL, TRG, WTL and UBL, which formed 31 percent of total volumes.

Stocks that contributed positively include NESTLE (+14 points), MCB (+11 points), DGKC (+10 points), KTML (+5 points) and MLCF (+5 points). Stocks that contributed negatively include HBL (-75 points), OGDC (-47 points), PPL (-46 points), BAHL (-30 points) and ENGRO (-29 points).

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Share market ends down by 539 points on border, political conflicts

KARACHI: The share market witnessed another decline of 539 points on Thursday amid escalating conflict between Pakistan and India and arrest of PML-N leader by National Accountability Bureau (NAB).

The benchmark KSE-100 index closed at 29,738 points as against 30,277 points showing a decline of 539 points.

Analysts at Topline Securities attributed the decline to the latest development amid escalating conflict between Indo-Pak, Pakistan has suspended all bilateral trade with India and has also resolved to downgrade its diplomatic relations with the neighboring country.

Furthermore Political noise remained high after the arrest of PML-N leader Maryam Nawaz by National Accountability Bureau (NAB) in an alleged corruption scandal.

Analysts at Arif Habib Limited said that as soon as the market opened, the Index went straight to the negative territory, diminishing the hopes of a technical pull back anticipated by Technical chartists.

Confrontation at the border took the center stage not only in the Parliament but also at the bourse, denting investor sentiment.

Persistent across the board selling from mutual funds has been a major problem for local investors, which have seen foreigners selling since past three years and now from local Funds.

E&P, Autos, Banks and Cement Sectors again caused the onslaught and remained on the negative side. Cement sector led the volumes table with 15.2 million shares, followed by Power (14 million) and Banks (13.5 million). KEL remained on top with 10.3 million shares, followed by UNITY (7.8 million) and MLCF (6.7 million).

Sectors contributing to the performance include Banks (-213 points), E&P (-150 points), Power (-62 points), Cement (-34 points), Fertilizer (-28 points), and Food (+17 points).
Volumes increased significantly from 65.3 million shares to 108.7 million shares (+66 percent DoD). Average traded value also increased by 58 percent to reach US$ 27.4 million as against US$ 17.4 million.

Stocks that contributed significantly to the volumes include KEL, UNITY, MLCF, LOTCHEM and ISL, which formed 31 percent of total volumes.

Stocks that contributed positively include EFERT (+24 points), NESTLE (+14 points), PSO (+6 points), SHFA (+5 points) and KTML (+4 points). Stocks that contributed negatively include HBL (-55 points), POL (-54 points), OGDC (-53 points), MCB (-51 points) and HUBC (-43 points).

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