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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.

  • German financial institution shows interest to acquire 20pc stake in TPL Insurance

    German financial institution shows interest to acquire 20pc stake in TPL Insurance

    KARACHI: A Germany based development finance institution has shown interest to acquire 20 percent stake in TPL Insurance Limited, a statement said on Tuesday.

    According to an announcement on Pakistan Stock Exchange (PSX), TPL Insurance Limited (“the Company”), a subsidiary of TPL Corp Limited, is pleased to announce that DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”), a wholly owned subsidiary of KfW Group based in Cologne, Germany, a major development finance institution, has expressed interest in acquiring 20 percent stake in the Company.

    The transaction shall be executed subject to approval of the Board of Directors’, Shareholders’, Securities and Exchange Commission of Pakistan and other regulatory bodies.

    DEG is re-entering into the Pakistani market with the investment being a first, in an insurance company by a Development Finance Institution in recent times in Pakistan.

    With the experience and expertise of DEG as a major institutional investor, the Company will greatly benefit in terms of custom shaped solutions in all respectable areas including but not limited to best corporate governance practices, business support, risk management and environmental and social matters.

    “We shall keep our shareholders updated with respect to this transaction by making further announcements as and when the transaction progresses further,” the announcement said.

  • Stock market gains 299 points after intra-day losses

    Stock market gains 299 points after intra-day losses

    KARACHI: The stock market increased by 299 points on Monday after making recovery of intra-day losses.

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  • CGT on shares disposal to be collected on June 29

    CGT on shares disposal to be collected on June 29

    KARACHI: National Clearing Company Pakistan Limited (NCCPL) on Monday said that Gain Tax (CGT) for the month of May 2020 will be collected on June 29, 2020.

    In a statement the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period May 01, 2020 to May 31, 2020, would be collected on Monday June 29, 2020 through respective settling banks of the clearing members.

    All Clearing Members are hereby requested to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.

    Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period May 01, 2020 to May 31, 2020, would also be collected from the Pakistan Mercantile Exchange on Monday June 29, 2020.

    Necessary details and reports for the said period have already been made available.

    Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period May 01, 2020 to May 31, 2020. Necessary details and reports have already been made available in the CGT System.

    The NCCPL asked the clearing members and Pakistan Mercantile Exchange to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

    It further said that in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.

  • Weekly Review: Positive sentiments may prevail

    Weekly Review: Positive sentiments may prevail

    KARACHI: Trading activities likely witness positive sentiments during upcoming week as political uncertainty may settle down, analysts said.

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  • Stock market falls by 101 points on re-imposition of lockdown

    Stock market falls by 101 points on re-imposition of lockdown

    KARACHI: The stock market fell by 101 points on Friday as re-imposition of lockdown dimmed prospects of quick economic recovery.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,439 points as against 33,540 points showing a decline of 101 points.

    Analysts at Arif Habib Limited said that the market remained range bound throughout the session, trading between +160 points and -170 points, closing the session -101 points.

    Re-imposition of lock down has dimmed the prospects of quick economic recovery / stabilization.

    Expectation of rate cut renewed in the early part of the session with the possibility of an emergent meeting at SBP taking place anytime next week.

    International crude prices also realized an increase of US$1 / bbl, but oil stocks barely moved on the spike.

    FTSE rebalancing also created some excitement, but against expectation didn’t affect the banking sector much.

    Brisk buying was observed in both MCB and BAFL. Banking sector led the volumes with 12.7 million shares, followed by Technology (10.4 million) and Power (10.2 million).

    Among scrips, KEL posted 9.1 million shares, followed by UNITY (7.2 million) and BAFL (5.7 million).

    Sectors contributing to the performance include E&P (+39 points), Banks (+15 points), Inv Banks (-25 points), Cement (-24 points), Fertilizer (-21 points), O&GMCs (-21 points) and Pharma (-16 points).

    Volumes dropped from 216.2 million shares to 105.9 million shares (-51 percent DOD). Average traded value also declined by 49 percent to reach US$ 20 million as against US$ 38.9 million.

    Stocks that contributed significantly to the volumes include KEL, UNITY, BAFL, PRLR 1, BGL, which formed 30 percent of total volumes.

    Stocks that contributed positively to the index include MCB (+39 points), BAFL (+13 points), PPL (+12 points), POL (+11 points) and OGDC (+10 points).

    Stocks that contributed negatively include DAWH (-25 points), UBL (-17 points), LUCK (-16 points), EFERT (-15 points), and MEBL (-13 points).

  • Stocks plummet by 309 points on lockdown, political uncertainty

    Stocks plummet by 309 points on lockdown, political uncertainty

    KARACHI: The stock market fell by 309 points on Thursday due to political uncertainty and imposition of smart lockdown in various parts of the country.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,539 points as against 33,848 points showing a decline of 309 points.

    Analysts at Arif Habib Limited said that the market shed 377 points again during the session and closed -309 points. Political uncertainty amid emergency lockdown in different parts of the country caused investors to rethink decisions.

    In addition, rupee parity also dropped to 166.35 that showed US$ as a preferred store of value for investors as against equities.

    Vanaspati sector continued leading the volumes on the bourse, which is primarily driven by UNITY. A total of 23.9 million shares of UNITY traded today.

    Technology sector followed Vanaspati in terms of traded volumes with 22.9 million shares, trailed by Banks (22.2 million). Among scrips, MDTL and BOP followed UNITY with 9.9 million and 8.3 million shares respectively.

    Sectors contributing to the performance include Banks (-86 points), Fertilizer (-59 points), Power (-49 points), E&P (-36 points) and OMC’s (-24 points).

    Volumes dropped from 340.8 million shares to 216.2 million shares (-37 percent DoD). Average traded value also declined by 36 percent to reach US$ 38.9 million as against US$ 61 million.

    Stocks that contributed significantly to the volumes include UNITY, MDTL, BOP, JSCL and HASCOL, which formed 26 percent of total volumes.

    Stocks that contributed positively to the index include DAWH (+18 points), HBL (+14 points), AGP (+6 points), GLAXO (+5 points) and FML (+3 points). Stocks that contributed negatively include BAHL (-45 points), HUBC (-44 points), FFC (-21 points), UBL (-18 points), and PPL (-16 points).

  • Equity market declines by 170 points on political uncertainty

    Equity market declines by 170 points on political uncertainty

    KARACHI: The equity market ended down by 170 points on Wednesday owing to uncertainty after a political party announced to leave government coalition.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,849 points as against 34,019 points showing a decline of 170 points.

    Analysts at Arif Habib Limited said that the market made a strong come back today by registering an increase of 377 points, however, BNP Mengal’s decision to leave PTI Coalition government caused jitters in the market.

    The index lost all the gains made during the session and sustained a loss of -243 points, closing the session -170 points.

    Political uncertainty amid Corona crisis and border skirmishes between China and India have cumulatively dented the investor sentiment for the moment.

    Rupee parity also crossed 165 during the day, whereas international crude prices also picked pace, which in turn caused E&P stocks to post gains. Vanaspati sector topped the volumes with 43.9 million shares, followed by Inv Banks (35.5 million) and Chemical (34.8 million).

    Among scrips, UNITY led the volumes with 43.9 million shares, followed by JSCL (28.9 million) and PRL R1 (13.8 million).

    Sectors contributing to the performance include Banks (-77 points), Cement (-50 points), Fertilizer (-42 points), O&GMCs (-15 points) and Technology (-9 points).

    Volumes increased from 217.9 million shares to 340.8 million shares (+56 percent DoD). Average traded value also increased by 55 percent to reach US$ 61.0 million as against US$ 39.4 million.

    Stocks that contributed significantly to the volumes include UNITY, JSCL, PRLR1, AGL and NRSL, which formed 32 percent of total volumes.

    Stocks that contributed positively to the index include NESTLE (+10 points), HUBC (+10 points), OGDC (+10 points), SEARL (+9 points) and PMPK (+8 points). Stocks that contributed negatively include MCB (-42 points), ENGRO (-26 points), UBL (-25 points), FFC (-17 points), and HBL (-15 points).

  • Stock market gains 194 points as energy sector recovers

    Stock market gains 194 points as energy sector recovers

    KARACHI: The stock market gained 194 points on Tuesday as energy sector staged recovery on improved international oil prices.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,019 points as against 33,824 points showing an increase of 194 points.

    Analysts at Arif Habib Limited said that the market bounced back after realizing a loss of 787 points in yesterday’s session (post budget), and posted recovery of 314 points during the session. International crude prices improved overnight that helped E&P, OMCs and Refineries to stage recovery.

    Cement and Steel sectors also saw renewed buying interest, however, overall stock prices did not cross yesterday’s High. Chemical sector posted highest trading volumes with 28.7 million shares, followed by Technology (27.9 million) and Vanaspati (20.6 million).

    Among scrips, UNITY topped the volumes with 20.6 million shares, followed by AGL (11 million) and TPL (8 million).

    Sectors contributing to the performance include E&P (+65 points), Banks (+32 points), Power (+23 points), O&GMCs (21 points) and Pharma (+12 points).

    Volumes declined from 262.8 million shares to 217.4 million shares (-17 percent DoD). Average traded value also declined by 21 percent to reach US$ 39.5 million as against US$ 50.2 million.

    Stocks that contributed significantly to the volumes include UNITY, AGL, TPL, LOTCHEM and HUMNL, which formed 26 percent of total volumes.

    Stocks that contributed positively to the index include HUBC (+19 points), POL (+18 points), OGDC (+18 points), PPL (+15 points) and MARI (+15 points). Stocks that contributed negatively include FFC (-16 points), NESTLE (-14 points), IGIHL (-12 points), BAFL (-8 points), and LUCK (-8 points).

  • Budget fails to attract investors; stock market falls by 787 points

    Budget fails to attract investors; stock market falls by 787 points

    KARACHI: The stock market fell by 787 points on Monday as budget disappointed investors regarding tax incentives.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,824 points as against 34,612 points showing a decline of 787 points.

    Analysts at Arif Habib Limited said that the market did not respond well to the government’s budget announcement.

    The benchmark index lost a total of 796 points during the session and closed -787 points.

    The budget largely disappointed investors who expected major tax cuts and incentives from the budget which the government itself termed as Corona budget.

    Selling pressure was observed across the board from banks to oil and cements, without paying heed to reduction of duties that the government announced for various sectors on import of raw material.

    Highest trading volume was observed in vanaspati sector with 45.3 million shares, followed by Cement (38.7 million) and Chemical (23.9 million). Among scrips, UNITY topped the index with 45.3 million shares, followed by POWER (10.9 million) and ANL (10.3 million).

    Sectors contributing to the performance include Banks (-178 points), E&P (-115 points), Cement (-99 points), Fertilizer (-89 points), Power (-58 points).

    Volumes increased from 177.9 million shares to 262.8 million shares (+48 percent DoD). Average traded value also increased by 31 percent to reach US$ 50.2 million as against US$ 38.3 million.

    Stocks that contributed significantly to the volumes include UNITY, POWER, ANL, MLCF and LOTCHEM, which formed 33 percent of total volumes.

    Stocks that contributed positively to the index include ANL (+8 points), SEARL (+6 points), JLICL (+5 points), LOTCHEM (+4 points) and SYS (+3 points).

    Stocks that contributed negatively include MCB (-51 points), OGDC (-50 points), UBL (-45 points), LUCK (-45 points), and HUBC (-43 points).

  • Weekly Review: Positive sentiments may prevail on budgetary measures

    Weekly Review: Positive sentiments may prevail on budgetary measures

    KARACHI: The market may witness positive activities during next week due to budgetary measures taken by the government for revival of ailing economy.

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