Category: Stock & Commodity

KARACHI: The stock market plunged by 936 points on Thursday as selling pressure continued in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,101 points as against 38,038 points showing a decline of 936 points.

Analysts at Arif Habib Limited said that the reports of implementation of Axle Load policy as directed by Islamabad High Court broke the day, post market opening, which had a knee jerk reaction on Cement and Steel stocks.

Selling pressure kept building up with investors concerned about growing political wrangling.

Index heavy weights took the toll, causing index to plunge by more than 1000 points, which caused panic among investors especially after sustaining a blow of 527 points yesterday.

Cement sector led the volumes table with 42.7 million shares, followed by Technology (22.6 million) and Engineering (22 million).

Scrip wise activity showed KEL scoring 12.1 million shares, followed by PAEL (10.3 million) and TRG (9.5 million).

Sectors contributing to the performance include Banks (-208 points), Fertilizer (-114 points), E&P (-100 points), Power (-96 points) and Cement (-95 points).

Volumes declined from 327.7 million shares to 232.4 million shares (-29 percent DoD).

Average traded value also declined by 29 percent DoD to reach US$ 52.1 million as against US$ 73.5 million.

Stocks that contributed significantly to the volumes include KEL, PAEL, TRG, UNITY and BOP, which formed 21 percent of total volumes.

Stocks that contributed positively include NESTLE (+5 points), AICL (+3 points), HASCOL (+2 points), GATM (+1 points) and STJT (+0 points).

Stocks that contributed negatively include HUBC (-69 points), ENGRO (-59 points), LUCK (-53 points), PSO (-44 points), and PPL (-43 points).

KARACHI: The stock market fell by 527 points on Wednesday as investors opted for profit taking following the bull run during past few days.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,038 points as against 38,564 points showing a decline of 527 points.

After managing a bull run that added around 10,000 points from its low, the market finally took corrective stance with index plunging 527 points and closing the session at that note.

Selling pressure was evident in Cement, E&P, O&GMCs and banking sector stocks.

Although dust is seemingly settling on political front, investors took cue from T-bill auction that saw yields increasing further and considered it best to book profit prior to announcement of monetary policy on Friday November 22, 2019. Street consensus is for status quo.

Index is so far maintaining healthy volumes registering 327 million shares as compared with 385 million in the previous session.

Majority of the volumes were traded in Technology with 50.4 million shares, followed by Engineering (38 million) and Banks (33 million).

Among scrips, WTL led the volumes with 28.3 million shares, followed by BOP (17.1 million) and PAEL (15.1 million).

Sectors contributing to the performance include Banks (-203 points), E&P (-113 points), Cement (-49 points), Fertilizer (-30 points) and Chemical (-24 points).

Volumes declined further from 385.3 million shares to 327.4 million shares.

Average traded value also declined by 19 percent to reach US$ 73.4 million as against US$ 90.5 million.

Stocks that contributed significantly to the volumes include WTL, BOP, PAEL, KEL and ISL, which formed 25 percent of total volumes.

Stocks that contributed positively include FFC (+24 points), NATF (+10 points), THALL (+7 points), ISL (+7 points) and AGP (+5 points).

Stocks that contributed negatively include HBL (-63 points), ENGRO (-49 points), OGDC (-35 points), UBL (-34 points), and MCB (-33 points).

KARACHI: The stock market gained 153 points on Tuesday amid profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,564 points as against 38,412 points showing an increase of +153 points.

Analysts at Arif Habib Limited said that the market moved up and down during the session.

Initially the index gained +500 points but erased all the gains on profit booking, which took the index -18 points.

Activity picked pace again with index gaining again around +350 points. MoC resulted in selling pressure again, closing the index +153 points.

Key stocks that sustained selling pressure included DGKC, MLCF, FCCL and largely Steel sector, where MUGHAL saw trading at lower circuit.

Among Fertilizer sector, ENGRO made a recent high close to Rs. 345, but faced selling pressure to bring the price to Rs. 338.

Trading volumes registered at 385 million shares, out of which Cement Sector led the table with 53.2 million shares, followed by Banks (40.1 million) and Power (38.5 million).

Among scrips, KEL realized volumes of 27.5 million, followed by BOP (25 million) and DSL (22.3 million).

Sectors contributing to the performance include Power (+103 points), O&GMCs (+63 points), Inv Banks (+37 points), Pharma (+28 points), Tobacco (-34 points) Banks (-31 points) and Fertilizer (-16 points).

Volumes posted a decline from 466.1 million shares to 384.8 million shares (-17 percent DoD). Average trading value also declined by 9 percent to reach US$ 90.4 million as against US$ 99.8 million.

Stocks that contributed significantly to the volumes include KEL, BOP, DSL, SNGP and PAEL, which formed 27 percent of total volumes.

Stocks that contributed positively include HUBC (+94 points), PSO (+33 points), DAWH (+27 points), SNGP (+23 points) and FFC (+14 points).

Stocks that contributed negatively include PAKT (-34 points), ENGRO (-27 points), UBL (-24 points), BAHL (-17 points), and POL (-11 points).

The stock market witnessed a robust rally on Monday as the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) surged by 828 points, closing at 38,412 points, up from the previous close of 37,584 points.

(more…)

KARACHI: The stock market to maintain upsurge in next week owing to foreign investors’ participation in local bond and equity markets.

Analysts at Arif Habib Limited said that although the market may witness a temporary spell of consolidation, we expect the index to continue its upsurge going forward led by improvement in the macro-economic landscape.

Moreover, augmented participation by foreign and local investors (courtesy improved volumes) in the debt and equity space has also kept the sentiment upbeat. We advise market participants to cherry pick blue chip scrips and keep their view long.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.4x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~8.5 percent versus ~2.6 percent offered by the region.

Foreign investment in government backed treasury bills at USD 722 million since the beginning of FY20, attributable to waning concerns on the economic front has effectively supported the slight growth in FX reserves of the SBP (up by 0.5 percent WoW to USD 8,397 million as at 14th November 2019) and consequentially, kept the exchange rate parity stable.

Meanwhile the opposition party – JUIF – has called-off the sit-in in the capital, shielding the political climate from heating up.

This translated to positivity at the domestic equity bourse with the benchmark KSE-100 index closing at 37,584 points this week, generating a return of 4.5 percent WoW (1,606 points).

Sector-wise Positive contributions came from i) Commercial Banks (430 points), ii) Power Generation & Distribution (203 points), iii) Cement (133 points), iv) E&P (127 points), and OMCs (101 points) while negative contributions were led by i) Tobacco (33 points).

Scrip-wise positive contributions were led by HUBC (156 points), HBL (103 points), BAHL (93 points), ENGRO (56 points) and TRG (55 points).

Foreign buying was witnessed this week clocking-in at USD 4.2 million compared to a net buy of USD 4.5 million last week.

Buying was witnessed in fertilizer (USD 5.1 million) and Commercial Banks (USD 3.8 million). On the domestic front, major selling was reported by Banks / DFIs (USD 18.8 million) and Insurance Companies (USD 9.6 million).

Average Volumes settled at 311 million shares (up by 21 percent WoW) while average value traded clocked-in at USD 64 million (up by 17 percent WoW).

The Pakistan stock market witnessed a significant rally on Friday, with the benchmark KSE-100 index climbing 341 points. The index closed at 37,584 points, up from 37,243 points, marking a robust session of across-the-board buying activities.

(more…)

KARACHI: The stock market increased by 76 points on Thursday amid profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,243 points as against 37,167 points showing an increase of 76 points.

Analysts at Arif Habib Limited said that the market gained +340 points and closed the session +76 points. Cement, Steel, Autos and Fertilizer stayed in the limelight with buying activity, whereas E&P and blue chip banks faced selling pressure.

Concerns on political uncertainty caused the investors to be cautious of downward adjustment in the Index and preferred booking profits wherever they could.

A major chunk of trading volumes was generated in MLCF’s Right shares, which registered volume of 38.6 million shares (11.5 percent of total).

Prices of MLCF and its Right went down in initial trading but saw heavy buying activity that took the prices towards upper circuit. Cement sector led the volumes with 47.4 million shares, followed by Banks (36.1 million) and Engineering (31.9 million). Among scrips, MLCFR1 registered volume of 38.6 million, followed by BOP (17.6 million) and PAEL (16.3 million).

Sectors contributing to the performance include Autos (+40 points), Banks (+23 points), Cement (+23 points), Pharma (+17 points), Technology (+13 points), E&P (-33 points), and O&GMCs (-16 points).

Volumes increased from 275.4 million shares to 336 million shares (+22 percent DoD). Average traded value however, declined by 6 percent to reach US$ 65.4 million as against US$ 69.2 million.

Stocks that contributed significantly to the volumes include MLCFR1, BOP, PAEL, TRG and DSL, which formed 30 percent of total volumes.

Stocks that contributed positively include MEBL (+26 points), BAHL (+22 points), INDU (+16 points), MTL (+16 points) and DGKC (+12 points). Stocks that contributed negatively include HBL (-32 points), COLG (-12 points), OGDC (-11 points), POL (-9 points), and LUCK (-9 points).

KARACHI: The stock market gained 401 points on Wednesday to cross 37,000 mark after seven months.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,167 points from last day’s closing of 36,7666 points.

Analysts at Topline Securities said that after depicting a flattish trend in last session, KSE-100 index returned to its upward trajectory to record gain of 1.09 percent/401 points to close at 37,167 level.

The last time the market saw 37,000 was back in Apr-2019 7 months ago.

Furthermore, today the value traded of Rs10.7 billion was the highest of the year thus far.

As per rumors in the market, Pension fund has made investment in mutual funds which led the index to rally 401 points.

Furthermore, (NML) Nishat Mills Limited ,(GATM) Gul Ahmad Textile Mills & FML Feroze Mills Limited closed positively in range of 3-5 percent on recent export based incentives package announced by state bank of Pakistan.

Top contributors to the Index were HBL (+64), followed by BAHL (+44) , ENGRO (+34) & MARI (+30).

Investor participation in terms of volume was recorded at 275 million shares down 6 percent; while traded value was up by 8 percent at Rs.10.7 billion.

UNITY was the market leader followed by WTL & TRG which cumulatively added 24 million shares to total volume.