Tag: Arif Habib Limited

KARACHI: The benchmark KSE-100 index of the  Pakistan Stock Exchange (PSX) plunged by 300 points on Thursday. The stock market witnessed a decline due to selling pressure observed later in the day.

The KSE-100 index closed at 45,297 points as against the previous day’s closing of 45,597 points.

Analysts at Arif Habib Limited said that the market saw a rebound early on with the Index climbing 342 points, however, profit booking overtook and eventually converted into aggressive selling that eroded the gains made earlier with a drop of 514 points near the close.

Technology, Banks, E&P, O&GMCs and Refinery sectors got the most thrashing with a little bit of respite in the Cement sector. Among scrips, WTL realized a trading volume of 89.1 million shares followed by HUMNL (29.2 million) and TELE (23.3 million).

Sectors contributing to the performance include Technology (-91 points), E&P (-52 points), Banks (-39 points), Fertilizer (-33 points) and Refinery (-30 points).

Volumes declined from 583.7 million shares to 443.8 million shares (-24 per cent DoD). Average traded value also declined by 29 per cent to reach US$ 73.3 million as against US$ 102.9 million.

Stocks that contributed significantly to the volumes include WTL, HUMNL, TELE, TREET and BYCO, which formed 39 per cent of total volumes.

Stocks that contributed positively to the index include ABOT (+24 points), EPCL (+13 points), MTL (+11 points), HUBC (+10 points) and HMB (+9 points). Stocks that contributed negatively include TRG (-64 points), PPL (-27 points), MCB (-27 points), SYS (-27 points) and OGDC (-26 points).

KARACHI: The stock market ended down by 412 points on Wednesday despite making a recovery in intraday massive fall.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,597 points as against previous close of 46,009 points.

Analysts at Arif Habib Limited said that the market continued trending downward today and lost a total of 1221 points during the session and closed -412 points while posting partial recovery.

Leveraged positions of retail investors played havoc on the market today, which received margin calls after continuous declines witnessed in the Index for the past couple of sessions.

Besides, negative news flow relating to MCB Bank employee having implication in the Money Laundering case, also dented the sentiment.

Technology and Refinery sectors got hurt the most, however, selling pressure was also observed in Cement, Steel, Fertilizer, Banks and E&P sectors. Among scrips, WTL led the table with 90.9 million shares, followed by ANL (36.1 million) and HUMNL (34 million).

Sectors contributing to the performance include Technology (-77 points), E&P (-40 points), Textile (-38 points), Fertilizer (-35 points) and Refinery (-33 points).

Volumes increased further from 325.8 million shares to 583.7 million shares (+79 per cent DoD). Average traded value also increased by 41 per cent to reach US$ 103.1 million as against US$ 73.1 million.

Stocks that contributed significantly to the volumes include WTL, AN, HUMNL, BYCO and TELE, which formed 38 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+26 points), MCB (+11 points), SNGP (+9 points), FCCL (+9 points) and INIL (+8 points). Stocks that contributed negatively include TRG (-38 points), SYS (-38 points), HBL (-25 points), UBL (-20 points) and CHCC (-16 points).

KSE-100 index plunges 519 points amid selling

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) plunged by 519 points on Tuesday due to across-the-board selling on closing.

The benchmark index ended at 46,009 points as against the previous day’s close of 46,528 points.

Analysts at Arif Habib Limited said that the market posted an increase of 305 points during the session early on, however lost that gain and by the end of session lost a total of 1055 points (including the erosion of 305 points earned earlier).

At closing, the market saw a steep decline. Selling was witnessed across the board, with heavy implications on Technology and Cement sectors.

Despite low leverage level in the market in DFC, MTS and MFS segments, index melted due to calls of redemption at Mutual Funds.

Regardless of the steep decline in Index, overall trading volumes remained low compared to the hay days seen in outgoing fiscal. Among scrips, TELE realized trading volumes of 28.1 million shares, followed by WTL (26.4 million) and TPL (21.4 million).

Sectors contributing to the performance include Cement (-101 points), Technology (-81 points), Banks (-45 points), Fertilizer (-39 points) and E&P (-34 points).

Volumes increased from 194.7 million shares to 325.9 million shares (+67 per cent DoD). Average traded value also increased by 53 per cent to reach US$ 73.1 million as against US$ 47.9 million.

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

Stocks that contributed positively to the index include HMB (+18 points), MCB (+18 points), BAFL (+14 points), ANL (+14 points) and COLG (+7 points). Stocks that contributed negatively include SYS (-53 points), MEBL (-37 points), HBL (-34 points), LUCK (-32 points) and TRG (-23 points).

KARACHI: The stock market ended down by 108 points on Monday amid low volumes recorded during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,528 points as against last Friday’s closing of 46,636 points.

Analysts at Arif Habib Limited said that the market took a bantering on the first day of the rollover week and lost a total of 421 points during the session, closing -108 points.

The sentiment got dented early on which was obvious from the low volumes at the bourse, where the benchmark KSE-100 posted a total of 75.2 million shares, and All Shares Index posted 195 million. Technology, Oil & Gas chain (E&P, OMCs, Refinery) tumbled, whereas limited positive activity was observed in Power and Cement sectors.

 Monetary policy, which was to be announced after market close, met a hike of 25bps against street consensus of No Change. Among scrips, TELE topped the volumes with 19.8 million shares, followed by WTL (13.3 million) and BYCO (11.3 million).

Sectors contributing to the performance include E&P (-33 points), Textile (-26 points), Fertilizer (-16 points), Misc (+45 points) and Banks (+16 points).

Volumes declined from 387.2 million shares to 194.7 million shares (-50 per cent DoD). Average traded value also declined by 51 per cent to reach US$ 47.9 million as against US$ 96.2 million.

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

Stocks that contributed positively to the index include PSEL (+46 points), MCB (+42 points), UBL (+20 points), LUCK (+13 points) and SNGP (+11 points). Stocks that contributed negatively include OGDC (-22 points), SYS (-17 points), KOHC (-14 points), ENGRO (-14 points) and MEBL (-13 points).

Weekly Review: market likely to stay positive

KARACHI: The stock market is likely to stay positive during next week owing to upcoming IMF talks and ease in infection cases of coronavirus.

Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week attributable to talks with IMF for the sixth tranche to start at the end of the current month.

On the other hand, the decline in the infection ratio of the novel coronavirus in Pakistan and a slowdown in global oil prices would relieve pressure off the external account.

However, current macro-economic concerns such as rising imports, higher inflation due to increasing petroleum prices and pressure on currency could deteriorate investors’ sentiment.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2021) compared to the Asia Pacific regional average of 14.4x while offering a dividend yield of 7.9 per cent versus 2.3 per cent offered by the region.

During the outgoing week, trading activity remained jittery amid macro-economic concerns which included: Rupee slumping to an all-time low of 169.1 against USD; expectation of higher current account deficit due to rising imports which could stress reserves; temporary suspension of gas supply to general industries; and higher international commodity prices.

However, sentiment started reviving amid i) some recovery in the currency parity, ii) slowdown in Covid-19 cases which resulted in relaxation in restrictions in Sindh, and iii) restoration of gas supply to general industries.

As a result, the KSE-100 index closed at 46,636 points, down by 562 points or 1.19 per cent WoW.

Sector-wise negative contributions came from i) Cement (287 points), ii) Refinery (55 points), iii) Oil & Gas Marketing Companies (54 points), iv) Food & Personal Care Products (51 points), and v) Technology & Communication (44 points).

Whereas sectors which contributed positively were i) Commercial Banks (130 points), ii) Tobacco (6 points) and iii) Synthetic & Rayon (5 points). Scrip-wise negative contributors were LUCK (131 points), MEBL (102 points), SYS (70 points), MLCF (43 points) and DGKC (41 points).

Meanwhile, scrip-wise positive contribution came from UBL (73 points), HBL (56 points) and FFC (50 points).

Foreigners offloaded stocks worth of USD 10.9 million compared to a net sell of USD 18.6 million last week. Major selling was witnessed in Commercial Banks (USD 12.7 million) and All other Sectors (USD 2.2 million). On the local front, buying was reported by Individuals (USD 16.8 million) followed by Banks/DFI (USD 7.3 million). Average volumes clocked in at 400 million shares (down by 7 per cent WoW) while average value traded settled at USD 90 million (up by 3 per cent WoW).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 175 points on Wednesday owing to historic low of Pak Rupee (PKR) against the dollar.

The index closed at 46,717 points as against previous day’s closing of 46,891.

Analysts at Arif Habib Limited said that the market continued the downtrend following the slippage in PKR parity with USD that deteriorated further to touch 169.70 in interbank and crossed 170 in open market.

Unabated foreign selling coincided with local mutual funds disposing positions on the pretext of redemptions. Cement, E&P, O&GMCs, Refinery sectors bore the brunt of persistent selling. Limited buying interest was observed in Technology stocks which came down in the past couple of sessions.

Among scrips, TPL led the volumes table with 29.6 million shares, followed by TELE (28.1 million) and BYCO (23.2 million).

Sectors contributing to the performance include Cement (-83 points), Textile (-22 points), Pharma (-21 points), E&P (-20 points) and Banks (+45 points).

Volumes declined from 479.8 million shares to 332.8 million shares (-31 per cent DoD). Average traded value also dropped by 24 per cent to reach US$ 67.6 million as against US$ 88.9 million.

Stocks that contributed significantly to the volumes include TPL, TELE, BYCO, SERFR and WTL, which formed 36 per cent of total volumes.

Stocks that contributed positively to the index include UBL (+30 points), TRG (+22 points), FFBL (+15 points), BAHL (+15 points) and FABL (+12 points). Stocks that contributed negatively include MLCF (-21 points), HMB (-18 points), SYS (-17 points), AGP (-17 points) and MEBL (-16 points).

PKR touches new historic low at Rs169.12 against dollar

KARACHI: The stocks witnessed a decline of 379 points on Tuesday owing to selling pressure witnessed during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,891 points as against the previous day’s closing of 47,270 points.

Analysts at Arif Habib Limited said that the market tumbled mainly as a result of redemptions at mutual funds’ end.

On the other hand, negative news triggers on the slippage of PKR parity with USD, US State Secretary’s hint on revisiting US – Pakistan relations and pending IMF review had bearing on the Index.

Selling was observed across the board with Technology, E&P, Cement and Steel sectors leading the downside on Index.

Financial results announced today also failed to impress the investors. Refinery sector faced the onslaught with failure in approval of Refinery Policy as reported in newspapers, especially BYCO.

Among scrips, BYCO led the volumes with 71.6 million shares, followed by TELE (51.2 million) and WTL (25.3 million).

Sectors contributing to the performance include Cement (-96 points), Refinery (-52 points), E&P (-45 points), Technology (-39 points) and O&GMCs (-28 points).

Volumes increased from 395.8 million shares to 479.8 million shares (+21 per cent DoD). Average traded value, on the other hand, declined by 7 per cent to reach US$ 89.0 million as against US$ 95.8 million.

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

Stocks that contributed positively to the index include HBL (+36 points), HMB (+22 points), FFC (+9 points), DCR (+6 points) and PKGS (+5 points). Stocks that contributed negatively include LUCK (-44 points), TRG (-24 points), OGDC (-23 points), DGKC (-19 points) and BYCO (-18 points).

Stock market observes mixed trading; gains 72 points

KARACHI: The stock market is likely to witness range-bound activity during the next week due to concerns over inflation and the devaluation of the Pak Rupee.

Analysts at Arif Habib Limited said that the market to remain range-bound in the upcoming week.

Keeping in view concerns over inflation, devaluation of Pak Rupee against the greenback and current account deficit, investors are expected to have a cautious approach.

Moreover, with the ongoing result season, certain sectors and scrips are expected to stay under limelight.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2021) compared to Asia Pac regional average of 14.5x while offering a dividend yield of 7.8 per cent versus 2.2 per cent offered by the region.

The market commenced on a negative note owing to continuing pressure from the last closing amid concerns over a trade deficit of USD 4.1 billion in August 2021.

Furthermore, depreciation of PKR/USD to PKR 168.02 further dampened the sentiment.

Moreover, the decision of MSCI to reclassify Pakistan to Frontier Market Index from Emerging Market in November 2021 led to foreign selling. Albeit, towards the end of the week the market turned positive since scrips were oversold and trading at attractive valuations.

Furthermore, the surge in remittances by 27 per cent YoY to USD 2.7 billion in August 2021 improved the sentiment. That said, the market closed at 47,198 points, climbing up by 241 points (up by 0.5 per cent) WoW.

Sector-wise positive contributions came from i) Technology & Communication (214 points), ii) Miscellaneous (168 points), iii) Commercial Banks (148 points), iv) Pharmaceuticals (59 points), and v) Food & Personal Care Products (14 points).

Whereas, sectors which contributed negatively were i) Cement (155 points), ii) Oil & Gas Exploration Companies (56 points) and iii) Fertilizer (34 points).

Scrip-wise positive contributors were PSEL (164 points), MEBL (147 points), SYS (115 points), TRG (99 points) and NESTLE (39 points). Meanwhile, scrip-wise negative contribution came from LUCK (103 points), HBL (57 points) and ENGRO (51 points).

Foreign selling continued this week, settling at USD 18.6 million against a net sell of USD 5.9 million last week. Selling was witnessed in Commercial Banks (USD 10.9 million), Cement (USD 6.1 million) and Exploration and Production (USD 0.9 million).

On the domestic front, major buying was reported by Individuals (USD 12.9 million) and Insurance Companies (USD 6.2 million). Average volumes clocked-in at 429 million shares (down by 7 per cent WoW) while average value traded settled at USD 87 million (up by 5 per cent WoW).

KSE-100 index gains 573 points amid positive sentiments

KARACHI: The share market gained 54 points on Friday, September 3, 2021, amid mixed trading activities during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,957 points as against previous day’s closing of 46,903 points, showing an increase of 54 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today between -24 points and +210 points.

Stocks including banks, oil and gas chain, cement bore selling pressure whereas technology, fertilizer, and sideboard scrips helped post an uptick in the index.

Redemption at Mutual funds’ end kept the pressure on the Index after a net sell of $ 5.5 million yesterday. Among scrips, SERFR posted trading volumes of 83.1 million shares, followed by WTL (50.2 million) and TELE (37.6 million).

Sectors contributing to the performance include Autos (22 points), E&P (-17 points), Technology (+77 points), Power (+13 points) and Fertilizer (+12 points).

Volumes declined from 544.4 million shares to 465  million shares (-15 per cent DoD). The average traded value also declined by 24 per cent to reach US$ 73.3 million as against US$ 96.2 million.

Stocks that contributed significantly to the volumes include SERFR, WTL, TELE, GGL, and BYCO, which formed 49 per cent of total volumes.

Stocks that contributed positively to the index include SYS (+73 points), HUBC (+14 points), MCB (+13 points), ABOT (+10 points) and MEBL (+9 points). Stocks that contributed negatively include HBL (-18 points), PPL (-9 points), MTL (-8 points), INDU (-8 points) and NBP (-6 points).

KSE-100 index plunges by 510 points on profit-booking

KARACHI: The stock market ended flat on Wednesday in range-bound trading activities observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,413 points as against the previous day’s closing of 47,420 points, showing a decline of 6 points.

Analysts at Arif Habib Limited said that the first day of the month saw range-bound activity with sideboard scrips performing better than blue chips.

The index swayed +209 points and -65 points. Volumes and price-performance were witnessed in TPLP, TELE, WTL, and HUMNL out of which TPLP and TELE hit upper circuits and maintained that level till closing.

Banks, Cement, Fertilizer, Power and Refinery sectors ended the session in red, whereas Technology sector led the Index. Among scrips, WTL topped the volumes with 162.2 million shares, followed by TELE (45.1 million) and GGL (31.5 million).

Sectors contributing to the performance include Banks (-33 points), Cement (-14 points), Autos (-12 points), Technology (+40 points), Engineering (+13 points), and Fertilizer (+12 points).

Volumes increased substantially from 378.8 million shares to 536.6 million shares (+41 percent DoD). The average traded value also increased by 2 percent to reach US$ 86.1 million as against US$ 84 million.

Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL, and TREET, which formed 52 percent of total volumes.

Stocks that contributed positively to the index include TRG (+29 points), LUCK (+12 points), FABL (+10 points), EPCL (+9 points), and ENGRO (+8 points). Stocks that contributed negatively include HBL (-18 points), MCB (-15 points), MEBL (-14 points), INDU (-11 points) and PSEL (-9 points).

Stocks inch up in range bound trading