Category: Stock & Commodity

KARACHI: With the IMF program expected to be announced soon, investor sentiment can be expected to rebound, analysts said on Saturday.

The analyst at Arif Habib Limited said that clarity over the economic direction from the IMF program is likely to resuscitate confidence of investors.

As Ramadan started this week, the local bourse continued its bearish trend with volumes continuing to slump. Talks between GoP and IMF are in the final round and an announcement of a program can be expected any time soon.

Concerns of further interest rate hikes, depreciation of the PKR and fiscal consolidation measures (revision in energy prices, withdrawal of subsidies/tax concessions etc) kept the investment sentiment negative. The KSE-100 index closed at 34,717 points (-1,406 points WoW), down 3.9 percent WoW.

Negative sector-wise contributions came from i) Fertilizers (313 points), ii) Oil & Gas Exploration Companies (284 points), iii) Cements (130 points), iv) Pharmaceuticals (113 points) and v) Oil & Gas Marketing Companies (108 points). Scrip-wise negative contributions came from ENGRO (131 points), PPL (104 points), SEARL (84 points) and MARI (83 points). Whereas, positive scrip-wise contributions came from NESTLE (32 points), HBL (21 points), and COLG (11 points).

Foreign buying continued this week clocking-in at USD 10.4mn compared to a net buy of USD 4.8mn last week. Buying was witnessed in Commercial Banks (USD 10.9mn) and Cement (USD 1.0mn). On the domestic front, major selling was reported by Mutual Funds (USD 10.7mn) and Insurance Companies (USD 5.7mn). Average Volumes settled at 74mn shares (down by 30 percent WoW) while value traded clocked in at USD 23mn (down by 22 percent WoW).

Other major news: i) Coal-fired power project’s receivables swell to $150mln, ii) Move to withdraw Rs700bn tax exemptions, says official, iii) Chaos in FBR as govt aims for budget on May 22, iv) Private sector tax expert named FBR chairman, and v) Public debt surges Rs3.6 trillion to a hefty Rs27.8 trillion.

KARACHI: The equity market fell by 171 points on Friday owing to reports of IMF deal and its repercussions on cost of doing business.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,716 points as against 34,888 points showing a decline of 171 points.

Analysts at Arif Habib Limited said that the market was declined further today and traded below 35,000 level throughout the day.

During the session, the index lost a total of 240 points, but recovered slightly by end to show a net decline of 180 points (unadjusted). Cement, Banks, OMCs, Refinery and E&P contributed to selling pressure.

Overall volumes remained anemically low at 39 million shares, topped by KEL (4.8 million), followed by MLCF (2.7 million) and SEARL (1.9 million).

IMF’s bailout package was the talk of the town, where the sources from Finance Ministry (as relayed by TV channels) were hinting that the deal is just around the corner and the conditionalities of the deal are mainly to the detriment of cost of doing business.

Sectors contributing to the performance include E&P (-62 points), Fertilizer (-50 points), O&GMCs (-24 points), Cement (-24 points), Cement (-21 points), Food (+26 points).

Volumes declined significantly from 39.3 million shares as against 78.1 million shares (-50 percent DoD). Average traded value also declined by 53 percent to reach US$ 12.4 million as against US$ 26.3 million.

Stocks that contributed significantly to the volumes include KEL, MLCF, SEARL, LOTCHEM and UNITY, which formed 33 percent of total volumes.
Stocks that contributed positively include NESTLE (+34 points), MCB (+24 points), ABL (+15 points), MTL (+13 points) and THALL (+9 points). Stocks that contributed negatively include DAWH (-29 points), POL (-25 points), ENGRO (-19 points), PPL (-19 points) and SEARL (-15 points).

KARACHI: The stock market extended losses on Thursday and fell by 147 points amid continued selling pressure.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,887 points as against 35,035 points showing a decline of 147 points.

Analysts at Arif Habib Limited said that despite positive movement in index early today, the market could not sustain the momentum and selling resumed, which took the index trading below 35,000 level.

Market traded in a narrow band between +265 points and -206 points and ended -116 points (un adjusted). OMCs, Cement, E&P, Steel improved over the day, whereas Banking sector took the toll from selling in HBL, UBL and MCB.

Cement sector performed on the back of rumours relating to sales quota dispute amongst Cement Manufacturers that saw mid cap Cement stocks hitting upper circuit, however, selling ensued that brought price levels down. Similarly, Auto sector remained under selling pressure due to macro-economic concerns.

Sectors contributing to the performance include Banks (-132 points), Fertilizer (-44 points), Autos (-28 points), Chemical (-21 points), Food (-20 points), Cement (+44 points), Power (+28 points), O&GMCs (+21 points), E&P (+21 points).

Volumes declined from 113 million shares to 78 million shares (-31 percent DoD). Average traded value also declined by 18 percent to reach US$ 26.4 million as against US$ 32.3 million.

Stocks that contributed significantly to the volumes include MLCF, SNGP, LOTCHEM, KEL and EFERT, which formed 29 percent of total volumes.

Stocks that contributed positively include OGDC (+25 points), HUBC (+21 points), LUCK (+17 points), SNGP (+17 points) and PPL (+17 points). Stocks that contributed negatively include MCB (-46 points), HBL (-41 points), MARI (-27 points), NESTLE (-24 points) and UBL (-24 points).

KARACHI: The equity market gained 25 points on Tuesday amid selling in major scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,631 points as against 35,605 points showing an increase of 25 points.

First day of Ramadan started on a positive note, went up by 200 points and ended in green zone with 42 points (unadjusted).

Nonetheless, several scrips including blue chips saw aggressive selling at bourse, such as SNGP, PSO, OGDC, KEL, HUBC etc. Banking sector, on the contrary, performed well with HBL closing near upper circuit whereas UBL was also seen trading near upper circuit.

Banking sector topped with 12.4M shares, followed by Power (12M). Among scrips, KEL ranked first with 9.6M shares, followed by BOP (5.3M).

Other scrips which generated volumes include SNGP, MLCF, HUBCR, and LOTCHEM.

Sectors contributing to the performance include Banks (+190 points), Food (+17 points), Cement (-44 points), O&GMCs (-29 points), Power (-28 points), E&P (-21 points), Pharma (-16 points).

Volumes declined again from 71.4mn shares to 65.4mn (-8 percent DoD). Average traded value also declined by 13 percent to reach US$ 19.4mn as against US$ 22.4mn.

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

Stocks that contributed positively include HBL (+86 points), UBL (+54 points), MCB (+28 points) NESTLE (+22 points) and NBP (+14 points). Stocks that contributed negatively include LUCK (-21 points), SEARL (-18 points), HUBC (-15 points), PSO (-13 points) and ENGRO (-12 points).

KARACHI: The stock exchange fell by 518 points on Monday owing to upcoming MSCI review and reports of tax laden budget.

The benchmark KSE-100 index of Pakistan Stock Exchange closed at 35,605 points as against 36,123 points showing a decline of 518 points.

Market continued negative drive today amidst issues like MSCI review on May 13th, impending tough budget, possibility of policy rate hike by SBP by month end and pending IMF package.

Volumes were driven by Cement Sector that couldn’t find solution of sales quota and declining sales volume.

Market volumes have been anemic since last week, which was the case even today. All shares index registered a volume of 71M shares, with Cement Sector leading the index (14.7M shares), followed by Banks (11.7M) and Engineering (6M).

Steel scrips traded at and close to lower circuit. Among scrips, MLCF topped the chart with 6.4M shares followed by BOP (5.7M). market closed near day’s low of 553 points.

Sectors contributing to the performance include E&P (-117 points), Banks (-99 points), Cement (-72 points), Fertilizer (-71 points) and Power (-51 points).

Volumes improved slightly from 64mn shares to 71mn shares (11 percent DoD). Average traded value also increased by 8 percent to reach US$ 22.4mn as against US$ 20.65mn.

Stocks that contributed significantly to the volumes include MLCF, BOP, UNITY, FCCL and UBL, which formed 31 percent of total volumes.

Stocks that contributed positively include COLG (+12 points), BAFL (+8 points), AGIL (+4 points) and DAWH (+4 points). Stocks that contributed negatively include PPL (-58 points), LUCK (-44 points), ENGRO (-42 points), UBL (-37 points) and HUBC (-32 points).

KARACHI: The staff level agreement of the IMF program is expected to restore confidence of the market, analysts said on Saturday.

Volumes usually dry out in the month of Ramzan given shorter trading hours. Albeit, with budgetary proposals following in, we believe certain sectors / scrips may come under limelight.

Analysts said that while the outgoing quarter remained positively surprising with sectors such as Commercial Banks, Cements, and Chemicals unveiling above street consensus result outcomes, investors continued to remain wary owing to persisting economic despondency.

This has contributed to ambiguity over future corporate earnings growth, and coupled with a lack of clarity over the finalization of the IMF program, the KSE-100 index has continued to remain under pressure. This week the bourse ended at 36,123 points, shedding 1,008 points (down by 2.7 percent) WoW.

Negative sector-wise contributions came from i) Oil & Gas Exploration Companies (308 points) amid fall in international oil prices, ii) Commercial Banks (171 points), iii) Fertilizers (148 points), iv) Power Generation & Distribution (89 points) and Oil & Gas Mareting Companies (70 points). On the flip side, sectors that contributed positively include i) Tobacco (27 points) and ii) Insurance (5 points).

Scrip-wise negative contribution came from PPL (125 points), OGDC (90 points), POL (78 points) and HBL (73 points). Whereas, positive scrip-wise contributions came from PSMC (24 points), PMPK (20 points), HMB (12 points) and PAKT (7 points).

Foreign buying continued this week clocking-in at USD 4.8mn compared to a net buy of USD 9.3mn last week. Buying was witnessed in Cements (USD 3.9mn) and Commercial Banks (USD 2.0mn). On the domestic front, major selling was reported by Mutual Funds (USD 13.4mn) and Broker Proprietary Trading (USD 0.6mn). Volumes settled at 105mn shares (down by 14 percent WoW) while value traded clocked in at USD 29mn (down by 13 percent WoW).

Other major news: i) Cabinet committees dealing with economic matters reconstituted, ii) FTA Phase-II signed with China, iii) Rs14.38 per litre increase in petrol price recommended by Ogra, iv) Talks on $8 billion bailout: Government, IMF in final round, v) CPI-based inflation recorded at 8.8 percent in April on YoY basis, and vi) Foreign exchange: SBP reserves dip 2.4 percent to stand at $8.8 billion.

KARACHI: The equity market plunged by 425 points on Friday owing to across the board selling.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,122 points as against 36,547 points showing a decline of 425 points.

Analysts at Arif Habib Limited said that the market opened on a negative note with -3 points and a dull outlook.

After a negligible move of +9 points, the index continued down trodding and by end of first session, the market was down 315 points with a paltry 26 million shares in trading volume.

Second session saw further attrition and the index slid by a total of 476 points and ended -425 points.

Selling was observed across the board and contributed by mainly Banks and E&P sectors. Declining international crude prices caused the onslaught of E&P scrips, with OGDC regressing 1.8 percent with a volume of 2.4 million shares. Amongst Cement sector, FCCL and MLCF contributed in top 10 stocks.

Sectors contributing to the performance include E&P (-128 points), Banks (-95 points), Fertilizer (-60 points), O&GMCs (-30 points), Cement (-24 points).

Volumes remained low at 64 million shares as against 68 million shares yesterday (-5 percent DoD).

Average traded value on the contrary increased by 18 percent to reach US$ 20.7 million as against US$ 17.5 million.

Stocks that contributed significantly to the volumes include UNITY, FCCL, BOP, LOTCHEM and OGDC, which formed 32 percent of total volumes.

Stocks that contributed positively include BAHL (+13 points), PSMC (+6 points), COLG (+6 points), IGIHL (+5 points), and NATF (+4 points). Stocks that contributed negatively include HBL (-57 points), PPL (-55 points), POL (-37 points), OGDC (-33 points) and ENGRO (-29 points).