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Category: Stock & Commodity

Stock & Commodity market updates covering equities, gold, oil, and other commodities with latest prices, trends, analysis, and financial market insights.

  • Weekly Review: market likely stay positive as lockdown ends

    Weekly Review: market likely stay positive as lockdown ends

    KARACHI: The stock market likely stay positive during next week as smart lockdown is officially ending from Monday August 10, 2020, analysts said.

    Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With smart lockdown officially ending on Monday, investor sentiment is set to be positive, although this remains contingent upon containment of COVID-19 cases.

    Furthermore, Pak Rupee is expected to remain stable against the USD given augmenting reserves. Moreover, with continuing result season, certain sectors and scrips are expected to stay under limelight.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2021) compared to Asia Pac regional average of 13.5x and while offering DY of ~6.2 percent versus ~2.7 percent offered by the region.

    The market commenced on a positive note given further decline in COVID-19 cases post Eid ul Adha. However, bears took over after higher than expected inflation of 9.30 percent was reported.

    Although this was short lived as the market rebounded the very next day amid release of cement offtake data for Jul’20, depicting a stunning jump of 41 percent YoY followed by decline in trade deficit (by 15 percent YoY in Jul’20) and surge in SBP’s foreign reserves (by USD 567 million on weekly basis).

    Moreover, approval of key projects (ML-1 Railway upgradation worth PKR 11.44 trillion under CPEC by ECNEC along with 4 projects by CDWP worth PKR 16.1 billion) kept the momentum strong. The market closed at 40,030 points, up by 772 points (+2 percent) WoW.

    Foreign buying this week clocking-in at USD 3.7 million compared to a net sell of USD 9.7 million last week. Buying was witnessed in Fertilizer (USD 2.2 million) and Cement (USD 2.0 million). On the domestic front, major selling was reported by Insurance Companies (USD 29.4 million and Mutual Funds (USD 11.9 million). Average volumes settled at 638 million shares (up by a massive 64 percent WoW) while average value traded clocked-in at USD 145 million (up by 43 percent WoW).

  • Gold price reaches all time high at Rs132,000/Tola

    Gold price reaches all time high at Rs132,000/Tola

    KARACHI: The price of gold has reached to all time high at Rs132,000 per Tola in the local market, traders said on Friday.

    The traders said that the price of one tola gold increased by Rs2500 to reach all time high of Rs132,000. One toal is measured at 1 kilogram is equal to 80 tola.

    The price of gold for 10 grams also increased by Rs2144 to reach at Rs113,169 according to Sarafa Bazar Karachi.

    The traders attributed the hike in price to increase in international price of bullion. In international market the gold increased by $4 to reach at $2054 per ounce.

    The traders said that in the local market people were investing in the gold.

  • Share market witnesses selling, index falls by 136 points

    Share market witnesses selling, index falls by 136 points

    KARACHI: The share market of Pakistan Stock Exchange (PSX) experienced a wave of selling pressure on the final trading day of the week, with the benchmark KSE-100 index falling by 136 points. The market closed at 40,030 points, down from 40,166 points.

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  • Stock market gains 305 points amid improved activities in cement sector

    Stock market gains 305 points amid improved activities in cement sector

    KARACHI: The stock market gained 305 points on Wednesday amid activities seen in cement scrips following reports of increase in prices.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,882 points as against 35,578 points showing an increase of 305 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note with +73 points and carried the momentum on the back of banking sector, however, selling activity brought the Index down by 152 points erasing the gains posted earlier in the session.

    Market bounced back on the report of increase in cement price / bag, which caused several cement sector stocks to hit upper circuit.

    E&P stocks also took cue from international crude oil prices and closed the session in green. Banking sector on the other hand faced resistance, which kept the pressure on the prices of banking stocks.

    Cement sector led the volumes with 136 million shares, followed by Technology (62. million) and Food (47.5 million). Among scrips, MLCF topped the volumes with 38.5 million shares, followed by POWER (37.5 million) and TRG (34.5 million).

    Sectors contributing to the performance include Cement (+164 points), E&P (+55 points), Technology (+37 points), Textile (+22 points), Fertilizer (-23 points) and Banks (-21 points).

    Volumes dropped from 593.8 million shares to 501.9 million shares (-15 percent DoD). Average traded value also declined by 16 percent to reach US$ 132.5 million as against US$ 157.8 million.

    Stocks that contributed significantly to the volumes include MLCF, POWER, TRG, FFL and HASCOL, which formed 34 percent of total volumes.

    Stocks that contributed positively to the index include LUCK (+49 points), TRG (+37 points), DGKC (+28 points), MLCF (+25 points) and CHCC (+22 points). Stocks that contributed negatively include UBL (-17 points), ENGRO (-16 points), PAKT (-14 points), BAHL (-14 points) and FFC (-13 points).

  • SECP recommends allowing individuals to act as securities, futures advisors

    SECP recommends allowing individuals to act as securities, futures advisors

    ISLAMABAD, July 5, 2023 – In a bid to promote the capital market and enhance financial inclusion, the Securities and Exchange Commission of Pakistan (SECP) has recommended allowing individuals to act as securities and futures advisors. This proposal aims to broaden the investor base and expand the outreach of the capital market.

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  • Stock market sheds 294 points on profit taking

    Stock market sheds 294 points on profit taking

    KARACHI: The stock market fell by 294 points on Tuesday as the market witnessed selling pressure after touching 40,000 points.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,578 points from previous day’s closing of 39,872 points, showing decline of 294 points.

    Analysts at Topline Securities said that the traditional KSE market volatility was seen at the bourse today, where at one point, the index gained to make an intraday high of 459 points.

    However, succumbed to selling pressure as investors came in to book their profit above 40,000 index level.

    KSE 100 index closed at 39,578 level (down by 0.7 percent) breaking its winning streak.

    The index closed in red zone after closing in the green zone for six consecutive trading sessions.

    Intraday rally was observed in banking sector, where higher than expected CPI number for the month of June 2020 and increase in yields of government paper in the secondary market garnered investor interest.

    Major contribution to the index came from PSX, JLICL, UBL, AGP and DAWH, whereas on the other hand ATRL, TRG, SYS, EPCL and SEARL lost value to weigh down on the index.

    Traded volume and value for the day stood at 594 million shares (up by 10 percent on DoD basis) and Rs.26.5 billion (up by 3 percent DoD basis) respectively.

    TRG was today`s volume leader with around 45.6 million shares.   

  • Stock market gains 613 points amid mixed trading

    Stock market gains 613 points amid mixed trading

    KARACHI: The stock market gained 613 points on Monday amid mixed trading activities during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,872 points as against 39,258 points showing an increase of 613 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note with +131 points and added a total of 670 points on the board to almost touch 40K level. The index also realized highest value traded of Rs 26 billion, which was last observed in 2017.

    While E&P stocks saw selling pressure, Cement and banking sectors took the lead and carried the momentum. Release of inflation data caused some selling pressure, however, the same improved prospects for banking sector stocks, which are still trading at relatively low level compared with listed manufacturing sector stocks.

    Cement sector garnered 125.5 million shares in trading volumes, followed by Technology (51.8 million) and Engineering (45.5 million). Among scrips, MLCF topped the volumes with 34.9 million, followed by POWER (32.5 million) and TRG (29.9 million).

    Sectors contributing to the performance include Banks (+169 points), Cement (+126 points), Fertilizer (+39 points), O&GMCs (+37 points) and Pharma (+34 points).

    Volumes increased again from 368.7 million shares to 539.3 million shares (+46 percent DoD). Average trade value also increased by 51 percent to reach US$ 154.2 million as against US$ 102.3 million.

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

    Stocks that contributed positively to the index include HBL (+83 points), LUCK (+54 points), TRG (+35 points), ENGRO (+29 points) and UBL (+25 points). Stocks that contributed negatively include MARI (-14 points), PPL (-13 points), POL (-6 points), OGDC (-5 points), and MEBL (-5 points).

  • Weekly Review: market likely to stay positive

    Weekly Review: market likely to stay positive

    KARACHI: The stock market likely to stay positive during the next week due to improved inflows and stability of in Pak Rupee against the US Dollar, analysts said.

    Analysts at Arif Habib Limited hoped the market to remain positive in the upcoming week.

    With continuation of result season, certain scrips are expected to remain under limelight.

    While stability in Pak Rupee against USD given inflow of foreign funds may also keep the risk appetite of investors in-check.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.3x (2021) compared to Asia Pac regional average of 13.2x and while offering DY of ~6.2 percent versus ~2.7 percent offered by the region.

    The market commenced on a positive note this week continuing positive streak from last week. During the week commercial banks remained attractive on anticipation of robust results.

    Furthermore, three month low COVID-19 cases were reported which improved investor sentiment. Moreover, loans worth USD 505 million received during the week with the Pak Rupee/Parity settling at PKR 166.98/USD, also kept the momentum high.

    Along with this, PKR 168 billion were raised in Treasury bill auction, with yields going up due to postponement in SBP’s monetary policy to Sep’20. The market closed at 39,258 points, gaining 1,650 points (+4.4 percent) WoW.

    Sector-wise positive contributions came from i) Commercial Banks (482 points), ii) Cement (285 points), iii) Power Generation & Distribution (113 points), iv) Technology & Communication (111 points), and v) Automobile Assembler (109 points). Whereas negative contributions came from Food & Personal Care (12 points) and Vanaspati (1 points). Scrip-wise positive contributions were led by LUCK (148 points), BAHL (103 points), HBL (99 points), TRG (95 points), and HUBC (77 points).

    Foreign selling continued this week clocking-in at USD 9.7 million compared to a net sell of USD 9.3 million last week. Selling was witnessed in E&P (USD 5.1 million) and Power & Distribution (USD 1.0 million). On the domestic front, major buying was reported by Mutual Funds (USD 11.3 million and Companies (USD 2.2 million).

    Average volumes settled at 390 million shares (down by 6 percent WoW) while average value traded clocked-in at USD 101 million (up by 4 percent WoW).

  • Stock market gains 422 points ahead Eid holidays

    Stock market gains 422 points ahead Eid holidays

    KARACHI: The stock market gained 422 points on Thursday on the last trading day ahead of Eid holidays.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,258 points as against 38,836 points showing an increase of 422 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note today with +97 points, also being the last trading day before the long weekend.

    Power, Banks, Cement, Pharma, OMCs and Refinery helped the index post a total gain of 434 points and closing the session near session high.

    Privatization Commission’s deliberation on OGDC and PPL brought both the stocks down, however, despite price drop and high volumes the index didn’t bear any reflection.

    Technology sector topped the volumes with 57.7 million shares, followed by Cement (47.5 million) and Transport (43.8 million). Among scrips, PIBTL led the volumes with 43.3 million shares, followed by TRG (27.9 million) and PAEL (18 million).

    Sectors contributing to the performance include Cement (+75 points), Banks (+70 points), Fertilizer (+54 points), Pharma (+51 points) and Autos (+45 points).

    Volumes declined from 508.3 million shares to 368.1 million shares (-28 percent DoD). Average traded value also declined by 19 percent to reach US$ 102.2 million as against US$ 126.2 million.

    Stocks that contributed significantly to the volumes include PIBTL, TRG, PAEL, MLCF and WTL, which formed 33 percent of total volumes.

    Stocks that contributed positively to the index include LUCK (+37 points), SEARL (+35 points), HUBC (+30 points), TRG (+28 points) and ENGRO (+25 points). Stocks that contributed negatively include PPL (-22 points), OGDC (-11 points), NATF (-4 points), BAFL (-4 points), and AICL (-4 points).

  • Stock market gains 209 points amid profit taking

    Stock market gains 209 points amid profit taking

    KARACHI: The stock market gained 209 points on Wednesday as profit taking activity was seen during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,836 points as against 38,627 points showing an increase 209 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note with +154 points and added an overall sum of 497 points. Anticipated profit booking brought the Index down to +209 points by the end of session.

    Banks, Steel, Chemical and Fertilizer sectors saw profit booking before last day of the trading week. Among E&P companies, PPL sustained selling pressure amid high volumes.

    Power sector led the volumes with 93.7 million shares, followed by Cement (60.7 million) and Technology (60.2 million). Among scrips, PAEL topped the volumes with 26.2 million shares, followed by MLCF (26.1 million) and BOP (23.4 million).

    Sectors contributing to the performance include Cement (+62 points), Power (+59 points), E&P (+49 points), O&GMCs (+25 points), Insurance (+23 points).

    Volumes increased from 394.3 million shares to 508.3 million shares (+29 percent DoD). Average traded value also increased by 30 percent to reach US$ 126.3 million as against US$ 97.1 million.

    Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 35 percent of total volumes.

    Stocks that contributed positively to the index include HUBC (+32 points), LUCK (+28 points), KEL (+19 points), PPL (+19 points) and POL (+15 points).

    Stocks that contributed negatively include HBL (-35 points), FFC (-20 points), MEBL (-11 points), FFBL (-11 points), and PAKT (-9 points).