Category: Stock & Commodity

KARACHI: The present government is presenting its first budget just after the Eid holidays and investors likely to take a cautious stance, analysts said.

Analysts at Arif Habib Limited said that anticipation of Market Support Funds attracted positive sentiments alongside high volumes.

The four day week commenced on a negative note amid lack of clarity over the funds, but, later during the week bulls took over after two support funds were approved by ECC worth Rs20 billion. Moreover, Pak Rupee gained some strength against the greenback, which further kept the sentiment positive. The market closed at 35,974 points, gaining 270 points.

Positive sector-wise contributions came from i) Commercial Banks (174 pts), ii) Oil & Gas Marketing Companies (120 pts), iii) Automobile Assembler (53 pts), iv) Oil & Gas Exploration Companies (41 pts) and v) Tobacco (34 pts). Whereas, sectors that contributed negatively include i) Fertilizers (93 pts) and ii) Textile Composite (61 pts). Scrip-wise positive contributions came from UBL (67 pts), BAHL (60 pts), LUCK (58 pts) and PSO (44 pts). Whereas, negative scrip-wise contributions came from FFC (66 pts), HBL (65 pts), and NML (44 pts).

Foreign selling was witnessed this week clocking-in at USD 2.95mn compared to a net buy of USD 0.02mn last week. Selling was witnessed in Exploration & Production (USD 5.9mn) and Fertilizer (USD 0.7mn). On the domestic front, major buying was reported by Banks / DFIs (USD 5.2mn) and Broker Proprietary Trading (USD 3.4mn). Average Volumes settled at 165mn shares (down by 8% WoW) while value traded clocked in at USD 48mn (up by 22% WoW).

KARACHI: The stock market ended flat on Thursday after witnessed high band trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,974 points as against 35,959 points showing an increase of 15 points.

Market carried with the momentum showed yesterday and opened on a positive note today with +259 points and 3M shares traded on the opening bell.

During the session, the index went up by 577 points however, selling pressure brought the market down to -304 points at a point in time again.

The main cause of concern was again Market Support Fund, where rumours kept circulating that it has not yet been approved, despite clarity given by SECP Chairman and Advisor to Finance Ministry.

By the end of session, ECC’s approval of EMOF and SEF (Enterprise Funds) brought some confidence back to the investors, however, market did not recover the eroded points.

Banking sector led the volumes table with 40M shares, followed by Cement sector (38M). BOP contributed more than half the traded volumes in Banking Sector, whereas MLCF led the Cement Sector with 14M shares.

Sectors contributing to the performance include Banks (+69 points), O&GMCs (+59 points), Autos (+19 points), Fertilizer (-68 points), Power (-38 points), Textile (-27 points), Cement (-23 points).

Volumes increased from 182.5mn shares to 199.1mn shares (+9 percent DoD). Average traded value also increased by 17 percent to reach US$ 59.7mn as against US$ 51.1mn.

Stocks that contributed significantly to the volumes include BOP, MLCF, UNITY, KEL and SNGP, which formed 38 percent of total volumes.

Stocks that contributed positively include BAHL (+31 points), PSO (+23 points), UBL (+22 points), SNGP (+20 points) and NESTLE (+14 points). Stocks that contributed negatively include FFC (-35 points), HUBC (-32 points), ENGRO (-26 points), NML (-19 points) and OGDC (-15 points).

KARACHI: The stock market on Wednesday witnessed sharp gain of over 1,000 points over clarity in market support fund.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,959 points as against 34,949 points showing an increase of 1010 points.

Analyst at Arif Habib Limited said that market bounced from the word Go. Within minutes of initial trading, the index was +150 points and did not see back. Clarity on Market Opportunity and Market Support Fund gave much needed confidence amongst investors and the erosion saw yesterday in the shape of a drop of ~750 points was recovered today.

During the session, the index increased by 1044 points and closed (unadjusted) near day’s high at +1010 points. Buying was observed across the board and especially in stocks that could be of significance to the Government Supported Funds.

Banks led the volumes table with 40 million shares (contributed by BOP 17 million), followed by Cement Sector with 23M shares (led by FCCL with ~12M shares).

Sectors contributing to the performance include Fertilizer (+206 points), E&P (+201 points), Banks (+196 points), Power (+101 points) and Cement (+100 points).

Volumes increased from 152.3mn shares as against 182.4mn shares (+20 percent DoD). Average traded value also increased by 4 percent to reach US$ 50.9mn as against US$ 48.8mn.

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

Stocks that contributed positively include HUBC (+76 points), ENGRO (+74 points), FFC (+67 points), OGDC (+64 points) and POL (+57 points). Stocks that contributed negatively include NESTLE (-33 points), FFBL (-1 points), GADT (-0 points), GHGL (-0 points) and DCR (-0 points).

KARACHI: The stock market fell by 748 points on Tuesday on aggressive profit taking by the investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,949 points as against 35,697 points showing a decline of 748 points.

Analysts at Arif Habib Limited said that the market took a major bantering today after resisting the tide of profit taking since Friday.

The meteoric rise of Index observed last week was matched today with a slide of ~800 points, although the index closed -748 points.

A host of factors could have played a role behind today’s activity, including MSCI rebalancing, delay in launching State Enterprise and Opportunity Fund and also negative news flow on Cement manufacturers.

Adding salt to the injury, conjecture on upcoming Budget also led to bearish sentiment amongst investors.

Nonetheless, profit booking was already on the anvil post a rapid increase in Index last week. Selling was observed across the board, however, major volumes were seen in Cement, Banks and Chemical sectors.

Sectors contributing to the performance include E&P (-170 points), Fertilizer (-163 points), Banks (-159 points), O&GMCs (-74 points) and Cement (-59 points).

Volumes increased from 125.2 million shares to 152.3 million shares (+22 percent DoD). Average traded value also increased by 46 percent to reach US$ 49 million as against US$ 33.5 million.

Stocks that contributed significantly to the volumes include FCCL, BOP, UNITY, EPCL and MLCF, which formed 28 percent of total volumes.

Stocks that contributed positively include NESTLE (+24 points), PAKT (+17 points), PKGS (+7 points), PSMC (+6 points) and HCAR (+5 points). Stocks that contributed negatively include OGDC (-66 points), FFC (-62 points), HBL (-59 points), POL (-53 points) and PPL (-38 points).

KARACHI: The earnings of benchmark KSE-100 index of Pakistan Stock Exchange witnessed a decline of 1.2 percent year on year during July – March 2018/2019.

Analysts at Arif Habib Limited said on Monday that based on sectoral weight, this was led primarily by Cements (-7.8 percent YoY; 5.7 percent weight), Oil & Gas Marketing Companies (-65 percent YoY; 4.3 percent weight), Automobile Assemblers (-44 percent YoY; 3.1 percent weight), and Pharmaceuticals (-34 percent YoY; 1.9 percent weight).

Whereas sectors that remained top performers were Commercial Banks (+2.1 percent YoY; 28.0 percent weight), Oil & Gas Exploration Companies (+35 percent YoY; 15.7 percent weight), Fertilizers (+5.7 percent YoY; 14.3 percent weight), Power Generation & Distribution (+21.5 percent YoY; 6.5 percent weight), Chemicals (-10 percent YoY; 2.0 percent weight), and Miscellaneous (-63 percent YoY; 1.8 percent weight).

In particular, profitability during 9MFY19 declined by 4.3 percent YoY driven by profits’ attrition in heavy weight Commercial Banks (-27.2 percent YoY) while Oil & Gas Exploration Companies (+46 percent YoY) and Fertilizers (+20.1 percent YoY) posted profitability improvements.

Sequential downturn in bottom-line of the KSE100 index arrived at 3.5 percent QoQ led by pressure faced by Oil & Gas Exploration Companies (-8.8 percent QoQ) and Fertilizers (-23 percent QoQ).

Sectors leading the profitability chart during 9MFY19 were Synthetic & Rayon (+147.8 percent YoY), Textile Weaving (+143.5 percent YoY), and Vanaspati & Allied Industries (+137.3 percent YoY). During 3QFY19, Textile Weaving (+158.8 percent YoY), Woolen (+139.7 percent YoY) and Paper & Board (+102.0 percent YoY) led the earnings chart of the index.

During 3QFY19, the KSE100 index rose by 1,583 points (+4.3 percent QoQ) majorly owing to Banks (919 points), Oil & Gas Exploration Companies (814 points) and Fertilizers (617 points).

During 9MFY19, the KSE100 index declined by 3,259 points (-7.8 percent YoY) with the bearish trend being led by Commercial Banks (-317 points), E&P Companies (-298 points), Cements (-497 points) and the Power sector (-387 points).

On the other hand, Fertilizers (+632 points) and Tobacco (+193 points) contributed positively to the index.

We have based our analysis on the KSE100 index companies. 94 companies have announced their results and have been included in this analysis while the remaining 6 companies have not yet disclosed their results.

The companies which have been included in our analysis represent almost 96 percent of the market capitalization of the benchmark bourse.

KARACHI: The stock market ended flat on Monday in range bound trading activities.

The Index closed at 35,697 points as against 35,704 points showing a slight decline of 6 points.

Analysts at Arif Habib Limited said that market traded range bound between -93 points and +188 points.

The volumes on Al Shares Index withered as compared to recent sessions, nonetheless a total of 125 million shares scored on the board.

Cement Sector remained in the lime light as was the case last week and tallied 21 million shares followed by Technology (17 million) and O&GMCs (14 million).

Among scrips, WTL topped volumes with 10M shares, followed by MLCF (9 million) and SNGP (7 million).

Investors engaged in switching positions while booking profits on scrips that were bought last week resulting in Index taking off.

Buying activity is still intact that encouraged investors to put the despondency in macro variables on the back burner and consider long term fundamentals to take charge.

Sectors contributing to the performance include O&GMCs (+57 points), Pharma (+31 points), Fertilizer (-56 points), E&P (-44 points) and Tobacco (-24 points).

Volumes declined from 142 million shares to 125.2 million (-12 percent DoD). Average traded value also declined by 18 percent to reach US$ 33.3 million as against US$ 40.4 million.

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

Stocks that contributed positively include PSO (+26 points), SNGP (+18 points), SEARL (+15 points), BAHL (+15 points) and ENGRO (+13 points). Stocks that contributed negatively include FFC (-51 points), PAKT (-24 points), PPL (-24 points), POL (-19 points) and NBP (-19 points).

KARACHI: Stock market likely positive in the upcoming weeks amid activation of a PSX stabilization fund in the foreseeable future, analysts said.

This sentiment with also continue along with contraction in the Current Account Deficit (CAD) by 27 percent in 10MFY19 which may improve investor sentiments, analysts at Arif Habib Limited said.

However, they said, economic concerns are still hovering around for instance endless slide of Pak Rupee against the greenback and further rate hikes expected with inflation expected to tick higher post adjustment in utility prices (gas and electricity tariff hike).

This week trading commenced on a positive note despite a 150 basis points hike by the State Bank of Pakistan on Monday, which was higher than consensus expectation of 100 basis points.

To note, revival of investors’ confidence came on the back of a meeting held between stock brokers and Advisor to Prime Minister on Finance Hafeez Sheikh to form a PSX support fund for market stabilization along with approval of deferred oil payment facility of $3.2 billion with Saudi Arabia which will ease pressure on balance of payments’ and foreign exchange reserves.

The market is expecting a fund size of Rs17-20 billion, similar to one launched in 2009, which may invest in government owned companies in the upcoming weeks.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) rebound and posted a positive return after seven weeks to close at 35,704 points, up by 2,537 points (highest increase in terms of points) or 7.65 percent WoW (10-year high return in terms of percentage).

Contribution to the upside was led by i) Fertilizer (+524 points), ii) Commercial Banks (+494 points), iii) Cements (+314 points), iv) Oil and Gas Marketing Companies (+273 points), and v) Oil and Gas Exploration Companies (+273 points).

Scrip wise major gainers were ENGRO (+172 points), LUCK (+167 points), FFC (+157 points), PSO (+136 points), and POL (+120 points).

Foreign buying continued this week clocking-in at USD 0.02mn compared to a net buy of USD 8.21 million last week.

Major buying was witnessed in Cement (USD 2.19 million) and Commercial Banks (USD 1.44 million). On the local front, selling was reported by Insurance Companies (USD 6.01 million) followed by Mutual Funds (USD 5.64 million).

That said, average daily volumes for the outgoing week were significantly up by 66 percent to 178 million shares likewise value traded increased by 44 percent to USD 40 million.

KARACHI: The stock market ended with gain of 123 points on Friday despite selling activity observed at the end of the trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,704 points as against 35,581 points showing an increase of 123 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +54 points and 3.4 million shares traded at opening bell.

However, profit booking started soon that took the index in negative territory. Although buying activity was not observed across the board, bulls were still found to be in control, which took the index up by 185 points.

Cement Sector led the volumes today with 26.9 million shares followed by Banks (18 million).

Among scrips, UNITY led the table with 12.2 million shares, followed by MLCF (8.7 million) traded at upper circuit.

Although total market volume declined, the market seems to have taken positive view on impending State Enterprise Fund that is likely to get a go-ahead in the coming week.

Sectors contributing to the performance include Fertilizer (+82 points), Cement (+64 points), O&GMCs (+31 points), Food (+29 points), Banks (+28 points) and E&P (-139 points).

Volumes dropped from 227.7 million shares to 142 million shares (-38 percent DoD). Average traded value also declined by 15 percent to reach $40.2 million as against $47.4 million.

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

Stocks that contributed positively include FFC (+61 points), LUCK (+32 points), NESTLE (+24 points), UBL (+22 points) and DAWH (+21 points). Stocks that contributed negatively include OGDC (-57 points), PPL (-47 points), POL (-36 points), HBL (-13 points) and HMB (-11 points).

The Pakistan Stock Exchange (PSX) witnessed a substantial uptrend on Thursday, as the benchmark KSE-100 index surged by an impressive 944 points, closing at 35,581 points.

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