Category: Stock & Commodity

KARACHI: The Novel Coronavirus haunted the investors of Pakistan Stock Exchange (PSX) as the equity market fell by around 720 points in early day trading on Monday.

The benchmark KSE-100 index of PSX fell by 720 points in less than 90 minutes trading. The market is trading at 39,530 points.

Muhammad Sohail, Chief of Topline Securities, said that global markets had witnessed fall on fears that coronavirus affected Iranians and could affect Pakistan as well.

Sohail said that local bourses also witnessed sharp decline early in the day as investors fear coronavirus from Iran may affect Pakistan also.

He said that global market also witnessed decline as cases related to the virus on the rise.

KARACHI: The stock market likely to stay positive during next week on back of conclusion of the FATF review and expected approval of IMF’s third tranch, analysts said.

The analysts at Arif Habib Limited further said that the market would also respond positively to the imposition by the Federal Government on export of essential food items (Onions, Potatoes and Tomatoes) so as to control rising inflation along with deferment of hikes in utility rates till June 2020.

Moreover, improvement witnessed on macroeconomic front, with the Current Account Deficit (CAD) shrinking by 72 percent in 7MFY20 and rising foreign investment in debt securities exceeding the USD 3 billion mark, also augur well.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2020) compared to Asia Pac regional average of 12.2x while offering a dividend yield of ~6.8 percent versus ~2.8 percent offered by the region.

This week trading activity remained dull and index movement was mixed attributable to concerns over a meeting of the Financial Action Task Force (FATF), convened to ascertain Pakistan’s status (Grey or White List); it became evident by Thursday evening that Pakistan is likely to stay in the Grey List.

On the other hand, investors remained cautious on the back of a strict stance of the International Monetary Fund (IMF) staff to keep the budgeted revenue targets for FY20 unchanged while talks regarding the release of the third tranche remain ongoing. Despite increase in international oil prices by 4.5 percent WoW, Oil and Gas Exploration sector remained under pressure due to foreign selling. As a result, the benchmark KSE-100 index closed at 40,249 points, merely increased by 6 points or 0.01 percent WoW.

Contribution to the upside was led by i) Commercial Banks (+133 points) due to financial result of HBL and UBL was better than expectation, ii) Cements (+20 points), iii) Textile Composite (+15 points), iv) Leather and Tanneries (+11 points), and v) Automobile Parts and Accessories (+9 points).Scrip wise major gainers were HBL (+70 points), UBL (+53 points), OGDC (+37 points), MCB (+34 points), and FFC (+30 points). Whereas, scrip wise major losers were ENGRO (-65 points), PAKT (-54 points), and PSO (-48 points).

Foreigners offloaded stocks worth of USD 8.57 million compared to a net sell of USD 11.15 million last week. Major selling was witnessed in Oil and Gas Exploration Companies (USD -3.02 million) and Cement (USD -2.77 million).

On the local front, buying was reported by Insurance Companies (USD +7.84 million) followed by Other Organizations (USD +3.81 million). That said, average daily volumes for the outgoing week were down by 37 percent to 106 million shares likewise value traded decreased by 23 percent to USD 31.2 million.

KARACHI: The stock market fell by 232 points on Friday owing to selling pressures during the trading sessions.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,249 points as against 40,482 points showing a decline of 232 points.

Analysts at Arif Habib Limited said that the market faced selling pressure and saw a drawdown of 311 points during the session, closing -232 points.

Market kept waiting for the official version of FATF plenary session till the close but merely got positive hints rather than an official statement.

E&P, Refineries, OMCs, Steel and Fertilizer bore selling pressure. MUGHAL announced financial results, which showed significant tax reversal that caused Investors to stay cautious and sell the stock, which brought stock price down in the closing half hour.

Trading activity in banking sector stocks remained muted. Cement Sector led the volumes with 19.6 million shares, followed by Food (9.8 million) and Power (9.1 million). Among scrips, MLCF topped the volumes with 8.1 million shares, followed by KAPCO (7.5M) and FFL (5.9 million).

Sectors contributing to the performance include Fertilizer (-92 points), Banks (-64 points), E&P (-49 points), Inv Banks (-35 points), Power (+24 points) and Cement (+21 points).

Volumes slipped further from 112.1 million shares to 85.6 million shares (-24 percent DoD). Average traded value also declined by 24 percent to reach US$ 23.2 million as against US$ 30.6 million.

Stocks that contributed significantly to the volumes include MLCF, KAPCO, FFL, UNITY and DGKC, which formed 36 percent of total volumes.

Stocks that contributed positively include HUBC (+24 points), LUCK (+18 points), SHFA (+8 points), HMB (+7 points) and PMPK (+6 points). Stocks that contributed negatively include ENGRO (-66 points), MCB (-44 points), DAWH (-34 points), OGDC (-31 points), and HBL (-24 points).

KARACHI: The stock market fell by 93 points on Thursday owing to selling pressure during trading sessions. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,481 points as against 40,575 points showing a decline of 93 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between +123 points as against -129 points and closed the session with -93 points.

Although crude oil price went up in the international market, listed Oil and Gas chain did not respond to it and faced selling pressure.

HBL dropped significantly over the day after news relating to its exposure in UAE broke whereby UAE Central Bank hinted probing the matter.

Other than E&P, Refineries and OMCs one the downside, Cement and Steel sectors also went down. Cement sector led the volumes with 17 million shares, followed by Banks (15.3 million) and O&GMCs (10.5 million).

Among scrips, HASCOL topped with 8.8 million shares, followed by BOP (8.7 million) and DGKC (8.1 million).

Sectors contributing to the performance include E&P (-40 points), O&GMCs (-26 points), Cement (-25 points), Fertilizer (-19 points), Chemical (+17 points).

Volumes dipped again from 142.9 million shares to 112 million shares (-22 percent DoD). Average traded value also declined by 28 percent to reach US$ 30.6 million as against US$ 42.2 million.

Stocks that contributed significantly to the volumes include HASCOL, BOP, DGKC, UNITY and MLCF, which formed 35 percent of total volumes.

Stocks that contributed positively include UBL (+34 points), COLG (+12 points), BAHL (+12 points), PKGS (+12 points) and IGIHL (+10 points). Stocks that contributed negatively include HBL (-45 points), OGDC (-17 points), MCB (-15 points), PPL (-13 points), and ENGRO (-12 points).

KARACHI: Pakistan Stock Exchange (PSX) has recomposed KSE-30 Index, which have high volume companies, and it will be implemented from March 13, 2020.

A notification issued on Thursday said that the PSX carried out the exercise of re-composition of KSE-30 Index for the review period from July 01, 2019 to December 31, 2019.

The recomposed KSE-30 Index will include Attock Refinery Limited and International Steel Limited. While The Bank of Punjab and Kot Addu Power Company Limited will be excluded in the new list.

The re-composed index, based on the prices of December 31, 2019 will be implemented from Friday March 13, 2020.

List of companies included in the KSE-30 Index on the basis of re-composition as on December 31, 2019:

01. Attock Refiner Limited: ATRL

02. Bank Al Habib Limited: BAHL

03. Bank Alfalah Limited: BAFL

04. D. G. Khan Cement Company Limited: DGKC

05. Engro Corporation Limited: ENGRO

06. Engro Fertilizers Limited: EFERT

07. Engro Polymer & Chemical Limited: EPCL

08. Fauji Cement Company Limited: FCCL

09. Fauji Fertilizer Company Limited: FFC

10. Habib Bank Limited: HBL

11. International Steel Limited: ISL

12. Lotte Chemical Limited: LOTCHEM

13. Lucky Cement Limited: LUCK

14. Maple Leaf Cement Factory Limited: MLCF

15. Mari Petroleum Company Limited: MARI

16. MCB Bank Limited: MCB

17. Meezan Bank Limited: MEBL

18. Millat Tractors Limited: MTL

19. National Bank of Pakistan: NBP

20. Nishat Mills Limited: NML

21. Oil and Gas Development Company Limited: OGDC

22. Pak Electron Limited: PAEL

23. Pakistan Oilfields Limited: POL

24. Pakistan Petroleum Limited: PPL

25. Pakistan State Oil Company Limited: PSO

26. Sui Northern Gas Pipelines Limited: SNGP

27. The Searle Company Limited: SEARL

28. The Hub Power Company Limited: HUBC

29. TRG Pakistan Limited: TRG

30. United Bank Limited: UBL

KARACHI: The stock exchange gained 399 points on Wednesday owing to positive vibes from ongoing FATF plenary session, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,574 points as against 40,735 points showing an increase of 399 points.

Analysts at Arif Habib Limited said that the market moved up today by 469 points during the session and closed +399 points.

Trading volumes also improved over the day, which took cue from positive signals from ongoing FATF plenary session, expectation of tamed inflation for the month of February and higher crude oil prices that helped OGDC stage recovery from last week’s levels.

The whole oil chain including E&P, OMCs and Refineries moved inline and showed buying interest from Investors. Similarly, Cement sector also saw buying activity that propped up stock prices, particularly DGKC, which traded near upper circuit.

Cement sector led the trading volumes with 24.1 million shares, followed by Vanaspati (21.6 million) and Technology (15.6 million). Among scrips, UNITY topped with 13.4 million shares, followed by HBL (5.4 million) and PSO (4.6 million).

Sectors contributing to the performance include Banks (+73 points), E&P (+73 points), Cement (+51 points), Fertilizer (+39 points) and Power (+32 points).

Volumes improved from 91.6 million shares to 142.9 million shares (+56 percent DoD). Average traded value also increased by 33 percent to reach US$ 42.2 million as against US$ 31.6 million.

Stocks that contributed significantly to the volumes include UNITY, HASCOL, DGKC, MLCF and TRG, which formed 38 percent of total volumes.

Stocks that contributed positively include OGDC (+50 points), UBL (+42 points), HUBC (+34 points), MCB (+32 points) and PPL (+22 points). Stocks that contributed negatively include HBL (-32 points), JLICL (-6 points), BAHL (-6 points), INDU (-5 points), and AGP (-4 points).

KARACHI: The stock market ended down by 101 points on Tuesday due to lackluster trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,175 points as against 40,277 points showing a decline of 101 points.

Analysts at Topline Securities said that the market continued with its momentum in terms of lackluster activity.

Index traded sideways making an intraday high of +324 points and intraday low of -211 points to finally close at 40,175 level.

Traded volume declined further to 92 million shares, whereas traded value improved slightly on DoD basis by 11 percent to Rs.4.9 billion.

Unity was volume leader for the second consecutive day of the week, as more than 13 million shares of the company changed hands during the trading activity.

PSO in the oil marketing sector declared its 2QFY20 result in which it posted EPS of Rs.6.19 for the quarter which was largely in line with expectation.