Category: Stock & Commodity

KARACHI: The stock market to remain range bound next week. Investors are expected to have a cautious stance keeping in view monetary policy announcement on July 16, 2019, analysts at Arif Habib Limited said.

The analysts said that the State Bank of Pakistan (SBP) may increase a 100 basis points in view of aggravating inflationary pressure.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) was commenced on a negative note during the current week.

The lackluster attitude prevailed amid bleak near-term macro-economic outlook following release of IMF staff report. Additionally, apprehensions with regards to issue of Sukuk bonds for circular debt resolution kept the momentum suppressed.

With SBP announcing the date for monetary policy on the last day of the week, the investor sentiment further deteriorated. The local bourse closed at 33,672, shedding off 518 points.

Sector-wise negative contributions came from i) Commercial Banks (81 points), ii) Power Generation & Distribution (77 points), iii) Oil & Gas Marketing Companies (53 points), iv) Automobile Assembler (53 points), and v) Cement (50 points).

Scrip-wise negative contributions came from HUBC (53 points), PSO (37 points), BAHL (29 points), DGKC (24 points) and INDU (21 points). On the other hand, positive scrip-wise contributions came from FFC (34 points), DAWH (16 points), and EFERT (5 points).

Foreign buying was witnessed this week clocking-in at USD 5.91 million compared to a net buy of USD 5.92 million last week. Buying was witnessed in Cement (USD 3.0 million) and Power Generation& Distribution (USD 2.3 million). On the domestic front, major selling was reported by Companies (USD 7.6 million) and Mutual Funds (USD 5.3 million).

Average Volumes settled at 51 million shares (down by 41 percent WoW) while value traded clocked-in at USD 13 million (down by 36 percent WoW).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 35 points on Thursday to close at 33,875 points as against previous day’s 33,840 points.

Analysts at Arif Habib Limited said that KSE-100 index has been on a losing streak with continuous slide in both volume and index level.

Yesterday, the volumes reached an 8-yr low of 40 million, and today marked yet another low of 39.5 million shares. Cement sector led the volumes table with 5.4 million, followed by Engineering (5.1 million) and Chemical (3.7 million).

Scrip wise activity shows DSL ranking top again with 4.4 million, followed by MLCF (2.7 million) and HUBC (2.2 million).

Recent ouster of HUBC from Islamic indices is followed by an increase in trading volumes of HUBC. Market on close showed improvement in points table that resulted in index closing with +35 points.

Sectors contributing to the performance include Banks (+42 points), Fertilizer (+15 points), O&GMC (+10 points), E&P (+9 points), Sugar (+2ts).

Volumes decreased by 3 percent DoD to reach 39.5 million as against 40.6 million. Average traded value also decreased by 12.2 percent to reach US$ 9.1 million as against US$ 10.3 million.

Stocks that contributed significantly to the volumes include DSL, MLCF, HUBC, LOTCHEM and TPL, which formed 34 percent of total volumes.

Stocks that contributed positively include HBL (+33 points), ENGRO (+16 points), UBL (+14 points), POL (+9 points) and MCB (+8 points).

Stocks that contributed negatively include MARI (-7 points), NATF (-5 points), MEBL (-5 points), INDU (-4 points) and HMB (-4 points).

KARACHI: The stock market ended range bound on Wednesday as investors were in a fix over lack of triggers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended down at 33,840 points as against 33,856 points showing a decrease of 16 points.

Analysts Arif Habib Limited said the market remained range bound today amidst low volumes.
The fourth consecutive session ended in below 60 million volumes and one of the lowest in recent days.

Absence of any significant trigger kept the investors in a fix whether to invest at these levels. Cement sector led the volumes table with 7.7 million shares, followed by Engineering (4.9 million) and Banks (4.5 million).

Major volumes were observed in DSL with 3.4 millino shares, followed by Quice (2.5 million) and MLCF (2.5 million).

PM’s visit to Karachi failed to motivate investors to take a view on market.

Sectors contributing to the performance include Power Generation (-15 points), E&P (-12 points), Automobile Assembler (-9 points), Fertilizer (-5 points), Pharmaceuticals (-3points).

Volumes decreased by 33 percent DoD to reach 40.30 million as against 60.16 million. Average traded value also decreased by 33 percent to reach US$ 10.3 million as against US$ 15.4 million.

Stocks that contributed significantly to the volumes include DSL, QUICE, MLCF, SNGP and CHCC, which formed 29 percent of total volumes.

Stocks that contributed positively include SNGP (+12 points), HBL (+12 points), ENGRO (+11 points), LUCK (+7 points) and CHCC (+3pt). Stocks that contributed negatively include HUBC (-19 points), EFERT (-11 points), PPL (-7 points), OGDC (-5 points) and SHFA (-4 points).

KARACHI: The stock market gained 113 points on Tuesday amid low volume and selling pressure.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,856 points as against 33,743 points showing an increase of 113 points.

Analysts at Arif Habib Limited said that the market went up today by 308 points but unable sustain the selling pressure and went down to 86 points.

Last half hour of trading brought the market back in positive territory. Overall volumes remained low at 60 million shares for the third consecutive session.

Cement sector led the volumes table with 12 million shares, followed by Chemical with 10 million shares.

LOTCHEM, on the back of all time high product margins, remained in demand and made highest volume with 6.2 million shares, followed by MLCF (5.6 million).

Index drivers such as ENGRO, HUBC and LUCK saw selling pressure near market close that kept the upside in index in check.

Sectors contributing to the performance include E&P (+66 points), Fertilizer (+11 points), Pharma (+8 points), O&GMCs (+8 points), Cement (+5 points).

Volumes increased merely by 1 percent DoD to reach 60.15 million as against 59.6 million. Average traded value also increased by 3 percent to reach US$ 15.4 million as against US$ 15 million.

Stocks that contributed significantly to the volumes include LOTCHEM, MLCF, KEL, DGKC and TRG, which formed 37 percent of total volumes.

Stocks that contributed positively include PPL (+33 points), OGDC (+22 points), DAWH (+20 points), POL (+12 points) and LUCK (+8pt). Stocks that contributed negatively include UBL (-19 points), ENGRO (-10 points), INDU (-8 points), DGKC (-5 points) and SHFA (-3 points).

KARACHI: The share market plunged by 447 points on Monday owing to massive selling in energy scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,742 points as against 34,190 points showing a decline of 447 points.

Analysts at Arif Habib Limited said that the market shed points heavily again, after a brief respite of +40 points earlier during the session.

Concerns over release of Rs. 200 billion Sukuk for O&GMCs, and Power sector saw major bearing on these very sectors and aggressive selling was observed in both SNGP, PSO and HUBC.

Traded volumes remained anemic today, ending the session just below 60 million mark at 59.5 million shares.

Power Sector posted highest traded volumes at 10 million shares (mainly contributed by KEL with 7.4 million shares), however, HUBC impact the index more with 2.5 million shares traded at the bourse. Cement sector ranked second with 9.3M shares, mainly contributed by MLCF (4.4 million).

Sectors contributing to the performance include Bans (-120 points), E&P (-77 points), O&GMCs (-556 points), Power (-37 points) and Cement (-30 points).

Volumes increased slightly from 51 million shares to 59 million shares (+16 percent DoD). Average traded value increased by 26 percent to reach US$ 15 million as against US$ 11.9 million.

Stocks that contributed significantly to the volumes include KEL, MLCF, TRG, BOP and DGKC, which formed 37 percent of total volumes.

Stocks that contributed positively include FFC (+2 points), SYS (+2 points), THALL (+2 points), APL (+2 points) and MARI (+1pt). Stocks that contributed negatively include HBL (-53 points), PPL (-38 points), OGDC (-26 points), PSO (-25 points) and SNGP (-21 points).

KARACHI: Pakistan Stock Exchange (PSX) likely to remain positive in upcoming week owing to IMF package approval and appreciation in Pak Rupee value.

Analyst at Arif Habib Limited said that the market to remain positive in the upcoming week in lieu of the IMF package approval and recent appreciation of PKR against green back which will lift investors sentiments.

However, they pointed out risks to the index including economic concerns on account of high Current Account Deficit, slowdown in large scale manufacturing and further monetary tightening expected in upcoming monetary policy on the back of tariff hike of utilities (Gas and Electricity) which could trigger inflation noticeably going forward.

This week trading commenced on a positive note as investors rejoiced the 3 day extension in Tax Amnesty Scheme as well as finance bill approval in the parliament.

Furthermore, first tranche of the USD 500 million received from Qatar along with loans arranged from syndicated Banks and World Bank aided foreign currency reserves.

Tally by the end of first three trading days unveiled a positive run 995 points at the index.

However, investors resorted to profit taking post official agreement of the IMF Board for a USD 6 billion package for Pakistan coupled with strike from cement dealers, automobile dealers and closure of textile units on budgetary measures.

As a result, the benchmark KSE-100 index closed at 34,190 points, up by 288 points or 0.9 percent WoW.

Contribution to the upside was led by i) Fertilizer (+180 points) amid news of GIDC settlement of up to 50 percent, ii) Commercial Banks (+122 points) given indication of further rate hikes (tight monetary policy) by the IMF, iii) Chemicals (+18 points), iv) Insurance (+14 points), and v) Automobile Assemblers (+13 points).Scrip wise major gainers were FFC (+113 points), HBL (+86 points), NBP (+36 points), ENGRO (+35 points), and EFERT (+31 points).

Foreign buying continued this week clocking-in at USD 5.9 million compared to a net buy of USD 7.9 million last week. Major buying was witnessed in Power Generation & Distribution (USD 3.7 million) and Commercial Banks (USD 1.7 million).

On the local front, selling was reported by Insurance Companies (USD 4.6 million) followed by Mutual Funds (USD 2.6 million). That said, average daily volumes for the outgoing week were down by 41 percent to 87 million shares likewise value traded decreased by 29 percent to USD 20 million.

KARACHI: The stock market ended down by 381 points on Friday owing to selling pressure on the last trading of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,190 points as against 34,571 points showing a decline of 381 points.

Analysts at Arif Habib Limited said that the market was opened on a negative note with -45 points and continued the down trend, which ended -381 points and merely around 20 million shares by the end of first session.

Second session contributed an additional 30M shares to end the total volume traded with 51M shares. Fertilizer, O&GMCs, Cement, Banks and E&P sector came down during the trading session. Chemical Sector led the volumes with 9.3M shares, followed by Cement 7.4 million shares.
Among scrips, LOTCHEM registered highest volume with 6.9 million shares, followed by DCR 6 million shares.

Sectors contributing to the performance include Banks (-90 points), Fertilizer (-67 points), E&P (-63 points), Cement (-37 points) and Power (-36 points).

Volumes declined to 51 million shares from 112 million shares (-54 percent DoD). Average traded value also declined by 58 percent to reach US$ 11.8 million as against US$ 28 million.

Stocks that contributed significantly to the volumes include LOTCHEM, DCR, MLCF, TRG and UNITY, which formed 40 percent of total volumes.

Stocks that contributed positively include INDU (+9 points), NESTLE (+5 points), MEBL (+5 points), NATF (+4 points) and LOTCHEM (+3 points). Stocks that contributed negatively include HBL (-32 points), POL (-29 points), MCB (-28 points), ENGRO (-22 points) and FFC (-20 points)