Tag: KSE-100

KARACHI: The stocks gained 379 points on Friday owing to major trading activity in banking sector on massive rise in interest rate by the central bank.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,489 points as compared with previous day’s closing of 46,110 points.

Analysts at Arif Habib Limited said that the market mostly stayed in the green zone today mainly led by the banking sector.

In the first session, positive momentum was observed as investors became optimistic due to the Large Scale Manufacturing Industries (LSMI) output number that increased by 5.15 percent in the first quarter (July-September) of the current fiscal year 2021-22 compared to the same period of last fiscal year 2021, as almost all major manufacturing sectors posted growth.

In the second session, profit booking was observed across the board after the Current Account Deficit (CAD) number clocked in at USD 1.7 billion during October 2021. On YoY basis, the primary reason behind the deficit was 66 per cent YoY increase in total imports to USD 6.8 billion.

On the institutional front, accumulation was witnessed in the banking stocks. Moving forward, Monetary Policy decision to raise the policy rate by 150 basis points to 8.75 per cent will create volatility in the upcoming roll-over week.

The Index closed at 46,489.4 points, up 378.9 points, (0.82 per cent DoD). Sectors contributing to the performance include Banks (178.98 points), Fertilizers (102.24 points), E&Ps (68.03 points) and Cements (62.03ptc).

Volumes increased from 263.55 million shares to 304.21 million shares (15.4 per cent DoD) and Traded value also increased by 41.6 per cent to reach US$ 68.46 million as against US$ 48.35 million.

Stocks that contributed significantly to the volumes include GGL, SERF, FNEL, FFLR1 and WTL.

KSE-100 index sheds 84 points in volatile trading

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) on Thursday lost 84 points amid volatile trading sessions observed during the day.

The KSE-100 index closed at 46,110 points from the previous day’s closing of 46,194 pints.

Analysts at Topline Securities said that the volatile session was observed at the bourse today with the KSE 100 index making an intraday high of 46,292 and an intraday low of 45,728 to eventually settle the day, down -83.92 points, at 46,110 points.

They said TRG dragged the index lower by 101.51 points and closed the day at its lower lock as investors looked to offload the stock owing to the recent scandal regarding the company’s owner, Zia Chisti.

The commercial banking sector continued to see investor interest due to expectations of an interest rate hike in the MPS scheduled for tomorrow. Consequently, MEBL, MCB, UBL & HMB cumulatively added 74.12 points to the benchmark index.

On the volume front, the total traded volume and value in the KSE All Share index clocked in at 263.58 million shares and PKR 8.47 billion, respectively.

The volume leader for today was MERITR2 with 42.18 million shares traded followed by GGL with 29.06 million shares exchanging hands during the session.

Stocks fall 348 points on policy rate rise expectations

KARACHI: The stock market gained 807 points on Tuesday owing to the government’s decision to pay the second installment to power companies.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,543 points as compared with the previous close of 45,736 points.

Analysts at Arif Habib Limited said that bullish momentum was witnessed just after the opening bell of the market mainly led by the power sector as the Economic Coordination Committee (ECC) of the Cabinet approved Rs134.783 billion for payment to independent Power Producers (IPPs) on second installment (60 percent) as per payment mechanism.

Appreciation of Pak rupee against dollar and PM decision not to increase the prices of petroleum products till November 30th gave investor confidence to the market.

Cement and E&P stocks contributed the most in the bull run. In the last trading hour, the technology sector made the journey to the north as TRG hit the upper circuit due to a rumor of a buy-back of shares.

On the institutional front, buying activity was witnessed across the board from the mutual funds.

Sectors contributing to the performance include Cement (+189.3 points), Technology (121.3 points), E&Ps (+104.0 points), Power (+78.5 points), and Banks (63.0 points).

Volumes increased from 172.9 million shares to 243.2 million shares (+40.7 per cent DoD). Traded value also increased by 103.1 per cent to reach US$ 59.7 million as against US$ 29.4 million.

Stocks that contributed significantly to the volumes include GGL, TPLP, WAVES, TELE and SERF.

KSE-100 index sheds 13 points in dull trading

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) fell by 13 points on Monday in dull trading during the day.

The index closed at 45,736 points as against last Friday’s closing of 45,749 points. showing a decrease of 12.9 points.

Analysts at Arif Habib Limited said that the market remained dull today as a battle between the bull and bear was boxed in the range-bound area.

Inflationary concerns feared the investors as weekly inflation witnessed the highest increase in three months and further weakening of Pak rupee against the dollar.

In a bid to curb runaway inflation in the country, the State Bank of Pakistan (SBP) on Saturday raised the Cash Reserve Requirement (CRR) by one percentage point for scheduled banks for the first time in 13 years.

The expectation of interest rate hike by SBP in the upcoming monetary policy caused profit booking in cyclical stocks and accumulation in banking stocks. On the flip side, activity from institutional investors remained lackluster.

Sectors contributing to the performance include Cement (-29.8 points), Vanaspati & Allied (-19.2 points), Inv. Banks (-18 points), OMC’s (-17.5 points) and Power (-10.8 points).

Volumes decreased from 192.5 million shares to 172.9 million shares (-10.2 per cent DoD). Traded value also decreased by 33.0 per cent to reach US$ 29.3 million as against US$ 43.72 million.

Stocks that contributed significantly to the volumes include HASCOL, GGL, WTL, UNITY and FFLR1.

Weekly Review: market to eye IMF package

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 282 points on Thursday on depreciation of Pak Rupee (PKR).

The index closed at 46,348 points as against previous day’s closing of 46,630 points, showing a decrease of 282 points.

Analysts at Arif Habib Limited said that the market opened on a positive note but remained dull in the first half of the market.

Concerns on inflation and weakening of Pak Rupee against dollar created uncertainty for investors to take fresh positions, which eventually resulted in a profit-booking scenario of last day positions in the second half session.

Accumulation was witnessed in the banking sector as market participants eyeing rate hike in the upcoming monetary policy.

Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, institutional activity remained lackluster.

Sectors contributing to the performance include Commercial Banks (-60 points), E&P (-55 points), Technology (-40 points), Cement (-37 points) and Engineering (-19 points).

Volumes decreased from 320.3 million shares to 269.5 million shares (-15.9 percent DoD). Traded value also decreased by 11 per cent to reach US$ 54.5 million as against US$ 61.2 million.

Stocks that contributed significantly to the volumes include GGL, SERF, TELE, TPLP and WAVES.

KSE-100 index gains 230 points on positive sentiments

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 230 points on Wednesday as positive sentiments prevailed during the day.

The index closed at 46,630 points as against previous day’s closing of 46,400 points.

Analysts at Arif Habib Limited said that the index stayed in the green zone throughout the day as the market celebrated the statement from Advisor to Prime Minister on Finance that no proposal for the PM to seek help of International Monetary Fund (IMF) chief was under consideration, which eventually gave confidence to investors.

Market opened on a positive note as traders took bet on cement, steel and technology stocks.

Accumulation was witnessed in the banking sector as investors eyeing towards rate hike in the upcoming monetary policy.

On the institutional front, buying activity was observed in the cement sector as inflows appeared through mutual funds.

Sectors contributing to the performance include Fertilizer (+80 points), E&P (+70 points), Technology (+21 points), Pharma (+21 points) and Power (+20 points).

Volumes decreased from 434.7 million shares to 320.3 million shares (-26.3 per cent DoD). Traded value also decreased by 25.3 per cent to reach US$ 61.6 million as against US$ 82.5 million.

Stocks that contributed significantly to the volumes include FNEL, SERF, GGL, TELE and TPLP.

Stocks plunge by 715 points on PKR weakening

KARACHI: The stocks plunged by 715 points on Tuesday owing to weakening in the value of Pak Rupee (PKR). The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46400 points as against previous day’s closing of 47,115 points showing a decrease of 715 points.

Analysts at Arif Habib Limited said that bloodbath session was witnessed today due to the further weakening of Pak Rupee against dollar, concerns on inflation and resumption of foreign selling spree.

Market opened on a bleak note after the news clocked in the morning that revival of USD six billion stalled IMF program for Pakistan hinges upon stamped clearance of IMF’s two departments before forwarding it in front of the Fund’s Executive Board.

Textile sector continued to remain under pressure for second consecutive session over concerns on ending of subsidized gas supply.

Institutional activity remained on the sell-side due to redemptions from the mutual fund industry.

Accumulation was witnessed in the banking sector as KIBOR rates have witnessed a sharp rise in the past one month, where the spread between the 6M KIBOR and policy rate has touched a high of 162 basis points, increasing from its average spread of 50 basis points.

In the last trading hour, sell-off was witnessed across the board mainly as investors opted for cautious approach.

Sectors contributing to the performance include Commercial Banks (-123 points), Cement (-102 points), Technology (-79 points), E&P (-63 points) and Power (-46 points).

Volumes increased from 364.9mn shares to 434.7 million shares (+19.1 per cent DoD). Traded value also increased by 11.6 per cent to reach US$ 83.1 million as against US$ 74.5 million.

Stocks that contributed significantly to the volumes include TELE, FFLR1, FNEL, WTL and GGL.

Stocks fall by 181 points on inflation concerns

KARACHI: The stocks fell by 181 points on Monday in rang bound trading as inflationary concerns are heating up among investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,115 points as against 47,296 points.

Analysts at Arif Habib Limited said that the market continued to remain range-bound today as inflationary concerns heated up among investors after the statement came from Adviser to the Prime Minister on Finance that IMF has asked Government to further hike levy on petroleum products.

Textile sector remained under pressure as Ministry of Energy (Petroleum Division) had already moved a summary to the federal cabinet for ending subsidized gas supply to the industrial sector including captive power plants immediately.

Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, Institutional activity stayed lackluster. In the last trading hour, profit taking was witnessed across the board mainly led by technology sector.

Sectors contributing to the performance include Technology (-45 points), E&P (-28 points), Banks (-26 points), Pharma (-20 points) and Engineering (-19 points).

Volumes decreased from 469.9 million shares to 364.9 million shares (-22.3 per cent DoD). Average traded value also decreased by 19.8 per cent to reach US$ 75.0 million as against US$ 93.5 million.

Stocks that contributed significantly to the volumes include HUMNL, TELE, FNEL, GGL and WTL.

Weekly Review: market may stay positive on IMF deal