KARACHI: The stock market gained 533 points on Thursday and made a closing hour recovery due to buying after a bearish movement earlier in the day.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 533 points to close at 44,900 points from the previous day’s closing of 44,367 points.
Analysts at Topline Securities said that the market opened on a negative note to continue its bearish movement, as KSE 100 index declined to make an intraday low of 395 points.
However stark recovery was observed in the closing hours of the trade, as the index gained to close at 44,900 level (up by 1.2 per cent).
Major contributions to the index came from MEBL, KEL, PPL, OGDC and LUCK, as they cumulatively contributed 348 points to the index.
Traded volume and value for the day stood at 372 million shares and Rs.13.76 billion respectively.
KEL was today`s volume leader with 32.5 million shares.
Analysts at Arif Habib Limited said after the initial uptick of 67 points carrying positive sentiment from yesterday, the market took a nose dive due to concerns on the foreign policy front where the US announced sanctions on the Taliban and its supporters that had PSX investors worry about the fate of relations with the US.
Resultantly, the index tumbled around 1300 points during intraday trading.
Selling was observed across the board with a major decline in Technology, Banks, E&P, O&GMCs and Fertilizer.
Among scrips, TELE topped the volumes with 52.4 million shares, followed by WTL (50.8 million) and DCR (36 million).
Sectors contributing to the performance include Banks (-172 points), Technology (-128 points), Cement (-100 points), Pharma (-65 points) and Fertilizer (-58 points).
Volumes increased from 364.8 million shares to 468.8 million shares (+28 per cent DoD). Average traded value also increased by 17 per cent to reach US$ 96.2 million as against US$ 82.2 million.
Stocks that contributed significantly to the volumes include TELE, WTL, DCR, BYCO and ANL, which formed 43 per cent of total volumes.
Stocks that contributed positively to the index include PAKT (+19 points), SCBPL (+3 points), GLAXO (+1 points), MUREB (+0 points) and IBFL (+0 points). Stocks that contributed negatively include TRG (-88 points), MCB (-61 points), SEARL (-35 points), SYS (-35 points) and LUCK (-35 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).
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).
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.
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).
KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a decline of 223 points on Friday and witness a fall of 1,562 points to end the week.
TRG, MCB, CHCC, INDU and FFBL lost value to weigh down on the index by 102 points. Traded volume and value for the day stood at 370 million shares and Rs.11.78 billion respectively.
BYCO was today’s volume leader with 47 million shares.
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.
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).
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).
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).
