KARACHI: The stock market closed on Wednesday with a gain of 171 points in mixed trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,458 points as against 46,287 points showing an increase of 171.

Analysts at Arif Habib Limited said that the key decisions to be taken at today’s ECC Meeting kept the interest alive at the bourse with PSO contributing positively to the index, supported by a surge in Cement sector stocks.

Technology stocks continued uptrend in today’s session, which helped the index post decent gains.

Overall, the index went up by 411 points during the session, but profit booking in E&P and Banks brought the net gain to 171 points by the end of session.

Rollover activity has been smoothly transitioning from January to February Futures contract.

Similar positive interest is otherwise witnessed in the ongoing book building of Panther Tyres, which is indicative of strong investor sentiment.

Among scrips, ANL topped the volumes with 40.2 million shares, followed by PIBTL (39.6 million) and TRG (37 million).  

Sectors contributing to the performance include Technology (+84 points), Cement (+76 points), Pharma (+23 points), Fertilizer (+22 points) and E&P (+17 points).

Volumes increased from 603.2 million shares to 610.8 million shares (+1 percent DoD). Average traded value also increased by 8 percent to reach US$ 180.6 million as against US$ 166.9 million.

Stocks that contributed significantly to the volumes include ANL, PIBTL, TRG, HASCOL and FCCL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include TRG (+80 points), MARI (+25 points), FFC (+23 points), LUCK (+22 points) and FCCL (+20 points). Stocks that contributed negatively include BAHL (-34 points), COLG (-17 points), UBL (-13 points), PPL (-11 points) and PAKT (-10 points).

KARACHI: The stock market gained 200 points on Tuesday owing to enhanced trading activity seen in cement and energy sectors.

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KARACHI: The stock market is likely to stay in green during the next week owing to the central bank decision to keep policy rate intact at 7 percent.

Analysts at Arif Habib Limited hoped that the market to trade in green due to

i) Central bank keeping policy rate unchanged while also hinting at status quo stance in the near term, which is positive for the stock market,

ii) encouraging SBP projections as current account deficit is expected to remain below 1 percent of GDP for FY21,

iii) slowdown in Covid-19 infection ratio, and

iv) stable PKR/USD parity.

However, once again bears took charge and negative sentiments were fueled by

i) announcement of current account deficit after five months,

ii) likely increase in electricity tariff by PKR 1.95/KwH (notification awaited), and

iii) CCoE’s proposal to discontinue natural gas supply for captive power generation. Our preferred stocks are OGDC, HUBC, HBL, MCB, FFC, LUCK, ACPL, PSO, ENGRO, MCB, INDU, UBL, and NML.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2021) compared to Asia Pac regional average of 17.7x while offering a dividend yield of ~6.4 percent versus ~2.6 percent offered by the region.

This week trading commenced on a negative note due to

i) worsening gas supply situation in the country which might result in suspension of gas supply to industries,

ii) decline in international crude prices (negative sentiment in E&P sector), and

iii) rising political pressure as PDM wanted to protest in front of Election Commission of Pakistan to probe foreign funding case.

However, the index displayed a rebound on the next trading day and recovered lost points.

However, once again bears took charge and negative sentiments were fueled by

i) current account deficit after five months,

ii) government increased electricity tariff by PKR 1.95, and

iii) CCoE approves Petroleum Division’s proposal for discontinuation of natural gas supply for captive power generation.

The KSE-100 index closed at 45,868 points, down by 63 points or 0.14 percent WoW.

Contribution to the downside was led by

i) Oil and Gas Exploration Companies (143 points),

ii) Fertilizer (43 points),

iii) Oil and Gas Marketing (33 points),

iv) Automobile Assembler (25 points), and

v) Pharmaceuticals (16 points). Scrip-wise major losers were PPL (65 points), OGDC (59 points), POL (59 points), ENGRO (31 points), and MCB (22 points).

Whereas, scrip-wise major gainers were TRG (110 points), MARI (41 points), BAHL (34 points), KTML (29 points) and ICI (26 points).

Foreigners accumulated stocks worth USD 5.51 million compared to a net sell of USD 2.10 million last week. Major buying was witnessed in Technology and Communication (USD 3.24 million) and Power Generation and Distribution (USD 2.43 million).

On the local front, selling was reported by Mutual Funds (USD 19.90 million) followed by Broker Proprietary Trading (USD 7.46 million).

That said, average daily volumes and traded value for the outgoing week were down by 25 percent and 9 percent to 510 million shares and USD 118 million, respectively.

KARACHI: The share market ended down by 116 points on Friday in a range bound trading activity.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,868 points as against previous day’s closing of 45,984 points showing a decline of 116 points.

Analysts at Arif Habib Limited said that the market oscillated between +132 points and -294 points, ending the session down 116 points.

Global stock markets took breather since last evening, which trickled in regional markets as well.

KSE-100 saw across the board selling on the concern of monetary policy decision, which was announced in the last half hour of the session, besides the redemptions from mutual funds.

Increase in electricity tariff also affected investor sentiment towards manufacturing concerns. Among scrips, KEL realized the most volumes with 54 million shares, followed by FFL (24.6 million) and ICIBL (23.7 million).

Sectors contributing to the performance include E&P (-51 points), Fertilizer (-21 points), Technology (-19 points), O&GMCs (-16 points) and Power (-13 points).

Volumes declined from 606.3 million shares to 430.6 million shares (-29 percent DoD). Average traded value also declined by 12 percent to reach US$ 98.5 million as against US$ 111.5 million.

Stocks that contributed significantly to the volumes include KEL, FFL, ICIBL, PIBTL and FFBL, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include SYS (+21 points), KTML (+15 points), FABL (+13 points), FFBL (+12 points) and INIL (+11 points).

Stocks that contributed negatively include TRG (-40 points), ENGRO (-16 points), MARI (-16 points), PPL (-14 points) and OGDC (-14 points).

KARACHI: The share market gained 307 points on Thursday as buying activities seen on positive sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,984 points as against 45,677 points showing an increase of 307 points.

Analysts at Arif Habib Limited said that the market went up today with 467 points during the session, closing the session +307 points.

The renegotiation of the government with power sector on resolution of circular debt has paved the way for HUBC, KAPCO and KEL to perform.

On the other hand, a pause in institutional selling (due to redemptions) helped the Index recover today. Banking and E&P sectors recovered from selling observed in past 2 sessions, besides Cement sector that performed in anticipation of better quarterly results.

Among scrips, KEL led the volumes with 143.8 million shares (24 percent of total volumes), followed by HUMNL (43.2 million) and PIBTL (31.4 million).  

Sectors contributing to the performance include Banks (+69 points), Cement (+67 points), Technology (+41 points), Textile (+34 points) and Fertilizer (+32 points).

Volumes increased from 476.6 million shares to 606.3 million shares (+27 percent DoD). Average traded value however declined by 6 percent to reach US$ 111.6 million as against US$ 119.1 million.

Stocks that contributed significantly to the volumes include KEL, HUMNL, PIBTL, FFL and UNITY, which formed 43 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+43 points), ENGRO (+27 points), TRG (+25 points), KTML (+24 points) and BAHL (+23 points). Stocks that contributed negatively include MARI (-11 points), UNITY (-9 points), SHFA (-5 points), BAFL (-4 points) and JLICL (-4 points).

KARACHI: The share market fell by 226 points on Wednesday owing to profit taking observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,677 points as against previous day’s closing of 45,903 points, showing a decline of 226 points.

Analysts at Arif Habib Limited said that the market dipped further by 358 points during the session courtesy of redemption at mutual funds which prompted selling in Banks, E&P, Power, Cement and O&GMCs.

Investors preferred switching to Food, Chemical and Power sectors as safe haven. E&P stocks went contrary to the trend of international crude oil prices, which went up overnight.

Textile sector also saw selling pressure, partly due to yet another deferral of the most awaited textile policy. Among scrips, SILK topped the volumes with 42.6 million shares, followed UNITY (40.9 million) and HUMNL (38.5 million).  

Sectors contributing to the performance include E&P (-62 points), Fertilizer (-47 points), Banks (-45 points), Cement (-30 points) and Technology (-30 points).

Volumes declined from 491.7 million shares to 476.6 million shares (-3 percent DoD). Average traded value also declined by 4 percent to US$ 119.2 million as against US$ 124.2 million.

Stocks that contributed significantly to the volumes include SILK, UNITY, HUMNL, POWER and TRG, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include HBL (+34 points), UNITY (+22 points), MARI (+9 points), PAKT (+7 points) and APL (+6 points). Stocks that contributed negatively include OGDC (-34 points), HUBC (-32 points), ENGRO (-29 points), MCB (-24 points) and PPL (-22 points).

The Pakistan stock market witnessed a modest gain of 177 points amid range-bound trading activities, with the benchmark KSE-100 index closing at 45,903 points, up from the previous day’s close of 45,726 points.

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KARACHI: The Pakistan Stock Exchange (PSX) experienced a downturn on Monday, with the share market closing lower by 204 points as selling pressure dominated trading activities throughout the day.

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