Tag: Arif Habib Limited

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday fell by 648 points owing to rising concerns over hike in electricity prices and contraction in economy.

The index closed at 43,829 points as against last Friday’s closing of 44,477 points, showing a decline of 648 points.

Analysts at Arif Habib Limited said that the market tumbled again on concerns over high energy and commodity prices as well as prospects of further electricity tariff hikes that can lead to erosion of purchasing power and an economic contraction.

Increase in international oil prices failed to have a material impact on the stock prices of E&P stocks. Selling pressure was witnessed across the board, however, Technology, Cement, O&GMCs contributed to downward trend.

Among scrips, WTL led the table with 41.3 million shares, followed by TELE (13.8 million) and TREET (9.4 million).

Sectors contributing to the performance include Technology (-202 points), Cement (-121 points), Banks (-56 points), Engineering (-49 points) and O&GMCs (-36 points).

Volumes increased from 176.1 million shares to 226.6 million shares (+29 per cent DoD). Average traded value also increased by 21 per cent to reach US$ 48.4 million as against US$ 40 million.

Stocks that contributed significantly to the volumes include WTL, TELE, TREET, HUMNL and TRG, which formed 35 per cent of total volumes.

Stocks that contributed positively to the index include PPL (+21 points), COLG (+9 points), HUBC (+8 points), ABL (+7 points) and FML (+7 points). Stocks that contributed negatively include TRG (-119 points), SYS (-68 points), LUCK (-26 points), FFC (-25 points) and UNITY (-25 points).

Weekly Review: high imports, prices likely concerns

KARACHI: The stock market likely to stay range bound during the next week owing to concerns including high imports and inflation.

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KARACHI: The share market fell by 293 points on Wednesday as selling pressure remained unabated during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,373 points as against previous day’s closing of 44,667 points.

Analysts at Arif Habib Limited said that selling pressure continued unabated at the bourse, courtesy of foreign investors.

Eye watering commodity prices, especially Coal, have had their bearing on Cement and Steel sector stocks and had ripple effects on O&GMCs, E&P sectors due to concerns over potential increase in circular debt emanate from rising energy costs.

A key conditionality from IMF for resumption of program has been upward revision in electricity tariff, besides an end to subsidies and increase in tax revenues.

These measures in part or whole are expected to dent earnings growth of the corporate sector in the coming quarters, which is reflecting on stock prices as well.

Ripple effects of selling in cyclical as well as oil & gas chain are observed in overall market with significant selling pressure in TRG among tech sector stocks. Among scrips, UNITY led the volumes with 25.7 million shares, followed by TELE (20.1 million) and WTL (16.8 million).

Sectors contributing to the performance include Cement (-91 points), Textile (-36 points), Banks (-35 points), Technology (-30 points), Fertilizer (-24 points) and E&P (+36 points).

Volumes declined from 334.6 million shares to 252.8 million shares (-25 per cent DoD). Average traded value also declined by 26 per cent to reach US$ 59.0 million as against US$ 79.2 million.

Stocks that contributed significantly to the volumes include UNITY, TELE, WTL, TREET and BYCO, which formed 35 per cent of total volumes.

Stocks that contributed positively to the index include MARI (+43 points), UBL (+22 points), MTL (+8 points), COLG (+5 points) and NATF (+4 points). Stocks that contributed negatively include HBL (-28 points), CHCC (-24 points), KTML (-20 points), LUCK (-19 points) and ENGRO (-16 points).

Share market sheds 378 points on exchange rate

KARACHI: The share market plunged by 378 points on Tuesday owing to rising concerns over the exchange rate and rupee depreciation.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 44,667 points as against the previous day’s close of 45,044 points.

Analysts at Arif Habib Limited said that market lost further ground today by shedding 451 points during the session and closing -378 points.

Discussions with IMF are still ongoing with the hope of near-term resolution and resumption of the IMF program. Besides IMF program worries, continued pressure on PKR parity with USD has also caused concern amongst investors, especially foreigners who have lately started selling PK equities.

Among technology stocks, Octopus hit the upper circuit, whereas other tech stocks remained under pressure, especially TRG which saw selling pressure despite anticipation of high earnings.

Among scrips, TELE topped the volumes with 30.3 million shares, followed by ANL (19.5 million) and GGL (18.5 million).

Sectors contributing to the performance include Cement (-170 points), Technology (-99 points), Fertilizer (-45 points), Banks (-23 points) and O&GMCs (-17 points).

Volumes increased from 267.2 million shares to 334.7 million shares (+25 per cent DoD). The average traded value also increased by 34 per cent to reach US$ 79.3 million as against US$ 59.1 million.

Stocks that contributed significantly to the volumes include TELE, ANL, GGL, WTL and BYCO, which formed 30 per cent of total volumes.

Stocks that contributed positively to the index include MARI (+74 points), UBL (+19 points), HUBC (+18 points), PSEL (+13 points) and EPCL (+11 points). Stocks that contributed negatively include LUCK (-66 points), TRG (-65 points), OGDC (-34 points), SYS (-27 points) and MLCF (-24 points).

KSE-100 index gains 173 points in mixed trading

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 173 points on Monday amid mixed trading during the day.

The index closed at 45,045 points as against last Friday’s closing of 44,872 points.

Analysts at Arif Habib Limited said that increased foreign outflow (due to reclassification of Pakistan from MSCI EM to MSCI Frontier market) in recent sessions has put an added pressure on the Index and today was no different.

Outflows from E&P, Banks and Fertilizer sector kept the local investors poised for further downside in these sectors and reflection of that was witnessed in PPL, POL, HBL, SYS, EFERT.

Uptick in NETSOL, TRG and AVN just prior to commencement of trading in Octopus digital, helped the index turn green, which was otherwise down by 310 points during the session.

The lost points saw recovery by the close of session and added a net gain of 153 points (unadjusted). Among scrips, TELE topped the volumes with 25.6 million shares, followed by WTL (21.6 million) and SMBL (14.7 million).

Sectors contributing to the performance include Technology (+70 points), Pharma (+48 points), Food (+21 points), Chemical (+18 points) and Inv Banks (+13 points).

Volumes remained the same at 267.2 million shares (+0.1 per cent DoD). Average traded value also increased by 12 per cent to reach US$ 59.1 million as against US$ 52.8 million.

Stocks that contributed significantly to the volumes include TELE, WTL, SMBL, BYCO and GGL, which formed 33 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+49 points), SEARL (+39 points), COLG (+17 points), AVN (+17 points) and ENGRO (+16 points). Stocks that contributed negatively include PPL (-23 points), LUCK (-21 points), POL (-12 points), FFC (-11 points) and CHCC (-8 points).

Weekly Review: stock market likely to move positively

KARACHI: The stock market is expected to move positively during the next week as scrips are trading at attractive valuations. Analysts at Arif Habib Limited said that IMF Review is starting from October 4, 2021, which if successful may provide much-needed respite to the ailing investment sentiment.

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KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) declined by 28 points on Friday in mixed trading. The Index closed at 44,872 points as against the previous day’s closing of 44,900 points, showing a decline of 28 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today with an oscillation of 404 points between +104 points and -300 points.

Steel, Refinery, Power and O&GMCs largely remained positive, whereas selling pressure was witnessed in Cement, Banks, E&P and Technology sectors.

PKR slipped further in the open market to cross 173 and the interbank market remained under pressure and above 170, remaining a cause of concern for foreign investors, who have been sustaining losses on old positions in E&P and Banks.

Among scrips, TPL led the volumes with 15.3 million shares, followed by BYCO (14.2 million) and HASCOL (14.1 million).

Sectors contributing to the performance include Cement (-51 points), E&P (-29 points), Power (-17 points), Chemical (+27 points), Engineering (+22 points) and Pharma (+18 points).

Volumes declined from 372.4 million shares to 267.1 million shares (-28 per cent DoD). Average traded value also dipped by 34 per cent to reach US$ 52.9 million as against US$ 80.7 million.

Stocks that contributed significantly to the volumes include TPL, BYCO, HASCOL, ASL and WTL, which formed 26 per cent of total volumes.

Stocks that contributed positively to the index include SNGP (+17 points), COLG (+16 points), HBL (+13 points), AVN (+11 points) and EPCL (+10 points). Stocks that contributed negatively include LUCK (-28 points), KEL (-25 points), MCB (-18 points), TRG (-17 points) and GHGL (-17 points).

Stock market gains 533 points amid buying

KARACHI: The stock market witnessed a gain of 457 points on Tuesday in mixed trading sessions. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,275 points as against the previous day’s closing of 44,818 points, showing an increase of 457 points.

Analysts at Arif Habib Limited said that initially the market traded in a narrow range, oscillating between -71 points and +120 points, but gathered pace by the end of session to add a total of 477 points, closing the session at a high note.

OGDC posted the result early on and declared below expectation dividend that dragged the price down.

The stock price went up (although remained below LDCP) after the announcement of a discovery.

Uptick was witnessed in Technology, Cement, Steel, Banks, O&GMCs and Refinery sectors.

POL added a formidable gain as an exception to OGDC and PPL. Tech sector saw AVN, TELE and NETSOL hitting upper circuits. Among scrips, TELE led the volumes with 35.8 million shares, followed by BYCO (33.5 million) and WTL (21.3 million).

Sectors contributing to the performance include Technology (+157 points), Refinery (+40 points), O&GMCs (+35 points), Fertilizer (+32 points) and Textile (+29 points).

Volumes increased from 301.9 million shares to 364.9 million shares (+21 per cent DoD). Average traded value also increased by 25 per cent to reach US$ 82.5 million as against US$ 65.7 million.

Stocks that contributed significantly to the volumes include TELE, BYCO, WTL, NCL and UNITY, which formed 34 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+126 points), MEBL (+36 points), POL (+33 points), SYS (+26 points) and UNITY (+24 points). Stocks that contributed negatively include COLG (-24 points), MCB (-22 points), OGDC (-19 points), HMB (-11 points) and PPL (-8 points).

Share market derails after PKR record low

KARACHI: The share market posted a decline of 256 points on Monday owing to slippage in Pak Rupee (PKR) value against the dollar.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,817 points as against last Friday’s closing of 45,074 points.

Analysts at Arif Habib Limited said that market posted gains of 163 points earlier in the session, but faced the onslaught sooner which caused the erosion of these gains and netting a loss of 732 points during the session.

Leveraged positions mostly got thrashing, however, resumption of PKR slippage was another reason cited for the panic selling in market.

Volumes remained thin compared with the activity in recent times, where ample volumes were witnessed in blue chips.

Fertilizer, E&P, O&GMCs, Cement stocks saw quick paced buying by the end of session that helped the index pull back. Among scrips, UNITY topped the volumes with 34.4 million shares, followed by WTL (32.6 million) and BYCO (31.9 million).

Sectors contributing to the performance include Banks (-101 points), Refeinery (-34 points), Paper and Board (-25 points), Inv Banks (-23 points) and Pharma (-20 points).

Volumes declined from 369.5 million shares to 301.4 million shares (-19 per cent DoD). Average traded value also declined by 5 per cent to reach US$ 65.9 million as against US$ 69.5 million.

Stocks that contributed significantly to the volumes include UNITY, WTL, BYCO, HUMNL and BAFL, which formed 40 per cent of total volumes.

Stocks that contributed positively to the index include SYS (+50 points), FFC (+18 points), MTL (+8 points), KTML (+7 points) and EPCL (+7 points). Stocks that contributed negatively include TRG (-51 points), HBL (-51 points), MEBL (-29 points), UBL (-18 points) and PSO (-16 points).

Weekly Review: jittery sentiments likely

KARACHI: Investors’ sentiments are likely jittery during the next week owing to measures taken by the government to curtail import bill.

Analysts at Arif Habib Limited said that with the government making all efforts to restrict imports, tax collection (silver lining in the domestic economic climate at the moment), may also be hurt.

Market sentiments may be tested once again with the government proposing a hike in gas/electricity tariffs.

However, the resumption of the IMF program next month could provide a breather.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.3x (2021) compared to Asia Pac regional average of 14.4x while offering a dividend yield of 8.1 per cent versus 2.3 per cent offered by the region.

This week marked the current fiscal year’s worst-performing week to date (second on CY basis), the equity bourse closed at 45,074 points (down by 3.4 per cent / 1,563 points WoW).

Amid rising demand and the upcycle in international commodities exacerbating the deficit on the external front, raising red flags over future CPI readings and building pressure on the Pak Rupee, the SBP commenced tapering its monetary stimulus.

A 25 basis points hike in the policy rate, shifting the focus from prioritizing growth to now ensuring sustainability, was put into effect to stop the economy from overheating.

While the government also adopted other measures to curtail demand such as tightening regulatory and consumer financing policies for auto consumers. Hence, investors remained on the edge.

Sector-wise negative contributions came from i) Technology (275 points), ii) Cement (196 points), iii) Commercial banks (148 points), iv) Fertilizer (137 points), and v) E&P (134 points). Whereas, sectors which contributed positively were i) Miscellaneous (41 points), and ii) Chemical (3 points). Scrip-wise negative contributors were TRG (142 points), SYS (124 points), HBL (71 points), OGDC (70 points) and PPL (55 points). Meanwhile, scrip-wise positive contribution came fr om PSEL (46 points), MCB (18 points) and BAFL (15 points).

Foreign buying was witnessed this week, settling at USD 6.7 million compared to a net sell of USD 10.9 million last week. Major buying was witnessed in Other Sectors (USD 6.1 million), Technology and Communication (USD 3.0 million) and Oil and Gas Marketing Companies (USD 1.8 million). On the local front, selling was reported by Individuals (USD 7.5 million) followed by Companies (USD 3.5 million). Average volumes clocked-in at 384 million shares (down by 4 per cent WoW) while average value traded settled at USD 73 million (down by 18 per cent WoW).

KSE-100 index plunges by 1,562 points in week