KARACHI – The Pakistan Stock Exchange (PSX) continued to experience profit-taking on Wednesday, as the benchmark KSE-100 index closed at 40,544 points, marking a decline of 52 points from the previous day’s closing of 40,596.
(more…)Category: Stock & Commodity
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KSE-100 index falls by 483 points in mid-day trading
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Equity market ends down by 173 points amid positive sentiments
KARACHI: The equity market ended down by 173 points on Thursday amid positive activities in many scrips. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,333 points as against 41,506 points showing a decline of 173 points.
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Equity market ends down by 109 pts on buying activities
KARACHI: The equity market fell by 109 points on Wednesday on buying activities in major scrips.
The benchmark KSE-100 index closed at 41,505 points as against 41,614 points showing a decline of 109 points.
Analysts at Arif Habib Limited said that market performed well today with an increase of 153 points but faced profit booking too causing the index to drop by 197 points.
Early on, the market leap frogged due to buying in Cement Sector, which saw volumes of 48 million by day end, followed by Chemical Sector.
Key scrips in Cement sector that generated trading volume include FCCL, MLCF and DGKC.
Among Chemical sector, EPCL traded ~6M shares however, the price declined by around three percent by sessions end.
Banks and Textile sector scrips remained on the back burner but value buying was observed.
Sectors contributing to the performance include Banks (-101 points), E&P (-38 points), O&GMCs (-35 points), Chemical (-16 points), Fertilizer (+56 points), Cement (-30 points), Autos (-26 points).
Volumes declined from 254 million shares to 205 million shares (-19 percent DoD).
Average traded value remained largely the same at US$71 million.
Stocks that contributed significantly to the volumes include FCCL, MLCF, DGKC, BOP, PIBTL and PASL, which formed 24 percent of total volumes.
Stocks that contributed positively include FFC (+26 points), EFERT (+17 points), INDU (+14 points), ENGRO (+13 points), and DGKC (+11 points).
Stocks that contributed negatively include HBL (-25 points), PPL (-24 points), BAHL (-23 points), OGDC (-23 points) and PSO (-17 points).
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Weekly Review: positive sentiment to prevails in equity market on expected Saudi investment deal
KARACHI: Positive sentiments likely to prevail in the equity market during next week owing to scheduled visit of Saudi Crown Prince Mohammad Bin Salman on February 16, 2019 and may sign investment deal.
Analysts at Arif Habib Limited said that with all eyes set on the Saudi Crown Prince Mohammad Bin Salman visiting Pakistan on February 16, 2019 and reportedly signing trade deals amounting $18 billion, positive sentiment amongst investors is likely to prevail.
Moreover, foreign inflows are anticipated to continue keeping in view the government’s efforts to revive the economy and attract Foreign Direct Investment.
Therefore, they expect the market to remain positive next week.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) continued its positive stride this week.With the government taking stringent measures to deal with the external debt and current account deficit, foreign investors’ confidence in the local bourse has been restored.
A surprise rise in the policy rate by 25 basis points by SBP did not adversely affect the bullish momentum either.
Moreover, forex reserves have surged by 12 percent WoW, on the back of funds received from UAE and Saudi Arabia of $1 billion each.
The market gained 848 points this week with the index closing at 41,113, up by 2 percent WoW.Sector-wise positive contributions came from i) Commercial Banks (234 points) amid hike in policy rate, ii) Oil & Gas Marketing Companies (129 points), iii) Automobile Assembler (83 points), iv) Oil & Gas Exploration Companies (74 points), and v) Cement (72 points).
On the flip side, sectors that contributed negatively include i) Tobacco (-41 points) and ii) Automobile Parts & Accessories (-5 points). Scrip-wise top performers were PPL (79 points), BAHL (64 points), PSO (50 points), LUCK (43 points) and MCB (39 points).
Foreign buying continued this week clocking-in at $12.3 million compared to a net buy of $17.0 million last week.
Major buying was witnessed in Commercial Banks ($7.7 million) and Exploration & Production ($1.7 million).
On the domestic front, major selling was reported by Mutual Funds ($5.3 million) and Companies ($4.0 million). Volumes during the week settled at 175 million shares (up by 4 percent WoW) whereas value traded arrived at $49 million (down by 6 percent WoW).
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