Category: Stock & Commodity

KARACHI: The stock market ended down by 289 points on Monday as market traded in narrow band.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,186 points as against 34,476 points showing a decline of 289 points.

Analysts at Arif Habib Limited said that index was traded in a narrow band for most part of the day but started taking shape (negative direction) by the end of session.

During the session, the market see-sawed between +222 points and -351 points.

Among the drivers that affected market activity today were the implementation of higher brokerage commission, which caused institutional and individual investors largely at bay, and ongoing meeting with FATF, where Pakistan is expected to avoid set back.

International crude prices also dipped during the session, which had negative impact on the E&P stocks and neutral to negative expectation on financial results of Refineries and OMCs kept selling pressure on such stocks.

Technology sector led the volumes table with 30.8 million shares, followed by Cement (17.7 million) and Chemical (17.1 million). Among scrips, WTL led the volumes with 14.3 million shares followed by TRG (11.6 million) and LOTCHEM (9.7 million).

Sectors contributing to the performance include Banks (-133 points), Cement (-52 points), Fertilizer (-30 points), Pharma (-21 points), Textile (-20 points) and E&P (+21 points).

Volumes fell from 287.1 million shares to 137.9 million shares (-52 percent DoD).

Average traded value also declined by 55 percent to reach US$ 30.8 million as against US$ 67.7 million.

Stocks that contributed significantly to the volumes include WTL, TRG, LOTCHEM, UNITY and FCCL, which formed 38 percent of total volumes.

Stocks that contributed positively include MARI (+23 points), DAWH (+18 points), OGDC (+16 points), HUBC (+8 points) and COLG (+6 points).

Stocks that contributed negatively include HBL (-42 points), LUCK (-40 points), MCB (-26 points), UBL (-19 points), and SEARL (-17 points).

KARACHI: The outcome of FATF meeting will move the direction of the stock market during next week, analysts said.

The analysts at Arif Habib Limited said that the market to remain positive on the back of improving external account position, country witnessing foreign net inflows in T-bills and lower inflationary reading expected in October 2019.

On the other hand, government is focusing to manage twin deficits and to meet IMF’s second quarterly revenue and tax collection targets.

However, FATF review is scheduled on 13-18th October to discuss Pakistan’s progress to control terror financing and corrective measures.

“Any favorable or unfavorable outcome could pose upside or downside risks to market performance.”

This week trading commenced on positive note attributable to Asia Pacific Group’s report on money laundering in which Pakistan was found partially compliant on majority of the issues which improved investors’ confidence.

On the other hand, Prime Minister Imran Khan’s successful visit to China in which they expressed satisfaction on CPEC progress further improved overall sentiment.

Moreover, news of increase in cement prices in the Northern Region as per PBS was the major driver for the Cement sector throughout the week.

Decline in money market yields and inversion of the yield curve continued to attract investors back to equities.

As a result, the benchmark KSE-100 index closed above the 34,000 mark at 34,476 points, increased by 1,442 points or 4.37 percent WoW.

Contribution to the upside was led by i) Commercial Banks (+492 points) amid expectation of healthier financial result, ii) Oil and Gas Exploration Companies (+270 points) due to attractive valuation, iii) Fertilizer (+146 points), iv) Pharmaceuticals (+90 points), and v) Cement (+87 points).Scrip wise major gainers were HBL (+153 points), MARI (+116 points), UBL (+104 points), POL (+83 points), and HUBC (+76 points). Whereas, scrip wise major losers were ISL (-11 points), PMPK (-11 points), and EFUG (-8 points).

Foreign offloaded stocks worth of USD 4.15 million compared to a net sell of USD 4.7 million last week. Major selling was witnessed in Commercial Banks (USD 4.56 million) and Exploration & Production (USD 1.73 million).

On the local front, buying was reported by Companies (USD 3.91 million) followed by other organizations (USD 3.59 million).

That said, average daily volumes for the outgoing week were massively up by 28 percent to 284 million shares likewise value traded increased by 42 percent to USD 56.9 million.

KARACHI: The stock market gained 448 points on Friday on expectations of positive outcome of FATF meeting.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 34,476 points as against 34,028 points showing an increase of 448 points.

Analysts at Arif Habib Limited said that the market continued the uptrend today, expecting positive outcome of the FATF meeting in the coming week.

They said that mid of the month is also going to see several corporate announcing financial results, which also had the market trade, largely in positive direction.

Cement and Steel sector braced decline following the trend in the past couple of sessions.

During the session, the news of Iranian oil tanker explosion had international crude oil prices spike resulting positively on the E&P sector.

Refinery sector lagged behind due to concerns on upcoming quarterly results. Traded value hit the highest level in rupee terms during 2019.

Besides, Technology sector led the volumes table with 56.4 million shares, followed by Cement (35 million) and Chemical (31.9 million).

Among scrips, WTL ranked top with 30.8 million shares, followed by LOTCHEM (19.1 million) and TRG (18.8 million).

Sectors contributing to the performance include Banks (+170 points), E&P (+89 points), Fertilizer (+39 points), Cement (+38 points) and Power (+31 points).

Volumes increased again from 261.6 million shares to 287 million shares (+10 percent DoD). Average traded value also increase by 25 percent to reach US$ 677 million as against US$ 54.2 million.

Stocks that contributed significantly to the volumes include WTL, LOTCHEM, TRG, UNITY and BOP, which formed 33 percent of total volumes.

Stocks that contributed positively include HBL (+75 points), OGDC (+36 points), HUBC (+33 points), UBL (+30 points) and LUCK (+29 points). Stocks that contributed negatively include FFC (-8 points), NESTLE (-8 points), AGP (-6 points), KEL (-4 points), and PIBTL (-4 points).

KARACHI: The stock market gained over 500 points on Thursday on across the board trading activity witnessed in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,028 points as against 33,524 points showing an increase of 504 points.
Analysts at Arif Habib Limited said that the market rebounded today with a jump of 500 points that took the index above 34,000 level, last seen in early July 2019.

Activity was observed across the board, but mainly contributed by Banking and Cement sectors. Expectation of further increase in Cement price / bag gave way to optimism in Cements, while improvement in fixed income portfolio for the Banks also engaged Investors.

Volumes improved over the day to 261 million shares and were mainly contributed by Chemical sector, which performed consecutively to reach a turnover of 49.4 million shares, followed by Cement (30.3 million) and Banks (23.9 million). Among scrips, LOTCHEM realized volume of 26.5 million shares, followed by PIBTL (17.2 million) and KEL (16.4 million).

Sectors contributing to the performance include Banks (+115 points), E&P (+74 points), Cement (+58 points), Power (+40 points) and Tobacco (+31 points).

Volumes increased from 237.7 million shares to 261.1 million shares (+10 percent DoD). Average traded value also increased by 32 percent to reach US$ 54 million as against U$ 40.9 million.

Stocks that contributed significantly to the volumes include LOTCHEM, PIBTL, KEL, UNITY and EPCL, which formed 33 percent of total volumes.

Stocks that contributed positively include LUCK (+41 points), UBL (+32 points), HBL (+31 points), PAKT (+31 points) and HUBC (+30 points). Stocks that contributed negatively include BAFL (-13 points), EFERT (-7 points), JLICL (-5 points), PPL (-3 points), and IGIHL (-2 points).

KARACHI: The stock exchange ended with gain of 47 points on Wednesday as market traded in narrow band.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,524 points as against 33,477 points showing an increase of +47 points.

Analysts at Arif Habib Limited said that the market continued trading in a narrow band between +128 points and -137 points and closed the session +47 points.

Chemical sector contributed positively to the index, whereby LOTCHEM, EPCL, DOL hit upper circuits due to better expectation of financial results of the outgoing quarter.

Quarterly financial results are due to be announced in October. Besides, buying activity was also observed in O&GMCs and small cap banks.

The index braced selling pressure largely from Steel and Cement sectors, which are the subject of profit booking and have shown decent price growth since recent lows.

Chemical sector topped the volumes with 48.7 million shares, followed by Cement (26.8 million) and Vanaspati (26.1 million). Among scrips, LOTCHEM led the volumes with 27 million shares followed by UNITY (26 million) and BOP (14 million).

Sectors contributing to the performance include Pharma (+28 points), E&P (+23 points), Banks (+17 points), Power (+16 points), Chemical (+10 points) and Cement (-48 points).

Volumes declined further from 243 million shares to 237.4 million shares (-2 percent DoD). Average traded value declined from US$ 56.9 million to US$ 40.9 million (-28 percent DoD).

Stocks that contributed significantly to the volumes include LOTCHEM, UNITY, BOP, KEL and EPCL, which formed 36 percent of total volumes.

Stocks that contributed positively include HUBC (+27 points), MARI (+24 points), HBL (+18 points), UBL (+14 points) and POL (+13 points). Stocks that contributed negatively include LUCK (-23 points), MCB (-17 points), DGKC (-14 points), OGDC (-12 points), and NBP (-12 points).

The Pakistan Stock market experienced a minor setback on Tuesday as the benchmark KSE-100 index fell by 160 points, closing at 33,476 points, down from the previous day’s 33,636 points. This decline comes despite the overall positive sentiment that has driven the market in recent weeks.

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KARACHI: The stock market gained 604 points on Monday owing to expected positive outcome of Prime Minister’s visit to China.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,637 points as against 33,033 points showing an increase of 604 points.

Analysts at Arif Habib Limited said that PM’s visit to China took precedence over AsiaPacific Group’s (APG) latest release of its report on Pakistan’s compliance with recommended measures to counter AML/CFT, which will also be subject of discussion from mid of October at FATF plenary session.

Investors are hopeful of PM’s visit to China and believe that the outcome will be positive for Pakistan.

After an initial drop of 86 points earlier in the session, the market went ahead with a jump of 818 points and closed the session 604 points.

Today, yet again, proved to be highest volumes traded session in last 12 months with 391.5 million shares, the analysts said.

Majority of the volumes were observed in Banking sector with 68 million shares contributed by BOP (40 million), which was followed by Cement (44 million) and Technology (40 million).

Among scrips, UNITY and KEL followed BOP with 25 million shares and 17 million shares respectively.

Sectors contributing to the performance include Banks +198 points), E&P (+103 points), Cement (+67 points), Fertilizer (+54 points) and O&GMCs (+45 points).

Volumes increased substantially from 261.8 million shares to 392.1 million shares (+50 percent DoD).

Average traded value also increased by 35 percent DOD to reach US$ 64.6 million as against US$ 47.7 million.

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

Stocks that contributed positively include PPL (+45 points), BAHL (+40 points), LUCK (+37 points), UBL (+35 points) and FFC (+33 points). Stocks that contributed negatively include PAKT (-25 points), PMPK (-11 points), COLG (-11 points), EFUG (-7 points), and EFERT (-4 points).

KARACHI: The stock market likely to stay positive during next week but there are chances of profit taking, analysts said.

Analysts at Arif Habib Limited said that the market to remain positive in the coming week. However profit-taking cannot be ruled out.

Major developments next week include PM Khan’s visit to China aimed at reviving CPEC Projects and removing impediments.

The KSE-100 index is currently trading at a PER of 5.8x (2020) compared to Asia Pac regional average of 13.0x and while offering DY of ~9.4 percent versus ~2.5 percent offered by the region.

KSE-100 commenced on a positive note this week amid 1QFY19 tax collection being reported at 90 percent of the IMF target. Investors’ expectations seemed to reflect optimism with regards to the first quarter IMF targets being met.

Moreover news of increase in cement prices in the Northern Region as per PBS was the major driver for the Cement sector throughout the week.

Later in the week a meeting of business community with the Army Chief and PM Khan improved the sentiment further due to anticipation of remedial measures to address outstanding economic issues.

Despite decline in international crude oil prices the Oil & Gas Exploration scrips resisted pressure. The overall positivity in the investment climate was complimented by jubilant volumes. The KSE-100 index gained 962 points (up by 3.00 percent) WoW, closing at 33,033 points.

Sector-wise positive contributions came from i) Commercial Banks (231 points), ii) Cements (189 points), iii) Power Generation & Distribution (96 points), iv) Oil & Gas Marketing (93 points), and v) Fertilizer (68 points). Scrip-wise positive contributions were led by HBL (103 points), HUBC (52 points), ENGRO (51 points), DGKC (50 points) and NBP (50 points).

Foreign selling continued this week clocking-in at USD 4.7 million compared to a net sell of USD 8.8 million last week. Selling was witnessed in Commercial Banks (USD 4.6 million) and Food and Personal Care (USD 1.7 million).

On the domestic front, major buying was reported by Other Organizations (USD 4.9 million) and individuals (USD 4.4 million). Average Volumes settled at 223 million shares (up by 106 percent WoW) while average value traded clocked-in at USD 40 million (up by 58 percent WoW).

KARACHI: The stock market gained 281 points on Friday owing to buying activities seen in various sectors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,033 points as against 32,752 points showing an increase of 281 points.

Analysts at Arif Habib Limited said that buying activity was mainly seen in Cement and Steel sectors, and was further aided by O&GMCs, E&P and Banks.

Optimism in the market is fueled by the meeting of leading businessmen with the Army Chief, the Prime Minister and his Economic team and has given hope to market participants of resolution of issues that were affecting the bourse for long.

Technology Sector topped the volumes with 50.1 million shares followed by Cement (35.8 million) and Engineering (+31.1 million).

Among scrips, WTL stood out with 33.2 million shares along with DSL (15.2 million) and UNITY (13.5 million).

Sectors contributing to the performance include E&P (+60 points), Banks (+36 points), O&GMCs (+35 points), Fertilizer (+31 points), Power (+30 points).

Volumes declined as compared to yesterday from 324 million shares to 261.7 million shares (-19 percent DoD). Average traded value also declined by 18 percent to reach US$ 47.7 million as against US$ 58.2 million.

Stocks that contributed significantly to the volumes include WTL, DSL, UNITY, MLCF and TRG, which formed 32 percent of total volumes.

Stocks that contributed positively include OGDC (+36 points), HUBC (+22 points), NBP (+18 points), SNGP (+18 points) and ENGRO (+16 points). Stocks that contributed negatively include UBL (-12 points), COLG (-11 points), EPCL (-3 points), FCCL (-3 points), and PIBTL (-3 points).