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Tag: KSE-100

  • Lower interest rate to keep equities attractive

    Lower interest rate to keep equities attractive

    KARACHI: The stock market likely to stay in green during the next week owing to lower interest rate regime. Analysts at Arif Habib Limited said that the market to continue trading in green. The low interest rate regime and pro-growth stance of the State Bank of Pakistan (SBP) should keep equities attractive.

    Moreover, as mentioned earlier the result season should keep cyclical in limelight while reduced provisioning, and healthy fee income/capital gains should help fuel banking earnings.

    That said, COVID fourth wave is a concern which may keep sentiment jittery.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2021) compared to Asia Pac regional average of 16.1x while offering a dividend yield of 6.6 per cent versus 2.4 per cent offered by the region.

    The domestic bourse closed the week in green this week. The investment climate took a major sigh of relief when the trade deficit posted a 16 per cent month on month decline as per Pakistan Bureau of Statistics (PBS) data.

    With the USD 2.8 billion SDR allocation expected from the IMF, the reserves position is expected to consolidate further which is significantly positive given uncertainty over the external account outlook.

    Moreover, the result season is ongoing and cyclical sectors are likely to post healthy earnings on a yearly basis driven by the V-shaped economic recovery. The index closed at 47,490 points, (up 435 points week on week).

    Sector-wise positive contributions came from i) Commercial Banks (193 points), ii) Oil & Gas Marketing Companies (52 points), and iii) Chemical (52 points). Meanwhile, the sectors that contributed negatively majorly include i) Food & personal care (21 points) and Tobacco (7 points).

    Scrip-wise positive contributors were MEBL (84 points), MCB (43 points), and HBL (41 points). Whereas, scrip-wise negative contribution came from LUCK (41 points), PSEL (36 points), and UNITY (19 points).

    Foreign buying was witnessed this week of USD 3.1 million against a net sell of USD 5.4 million last week. Buying was witnessed in Technology (USD 1.8 million), Cements (USD 1.3 million) and OMCs (USD 0.2 million). On the domestic front, major selling was reported by Funds (USD 10.6 million) and Insurance (USD 6.1 million). Average volumes clocked-in at 455 million shares (up by 12 per cent week on week) while average value traded settled at USD 85 million (down by 5 per cent week).

  • Share market sheds 151 points in narrow range trading

    Share market sheds 151 points in narrow range trading

    KARACHI: The share market ended down by 151 points on Friday in narrow range trading during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,489 points as against previous day’s closing of 47,640 points, showing a decline of 151 points.

    Analysts at Arif Habib Limited said that the market largely traded in a narrow range and lost a total of 216 points.

    Oil and gas marketing companies, Cement, Chemical, Refinery and Technology sectors continued seeing selling pressure from the previous couple of sessions.

    LUCK saw a significant drop in the closing half hour, which brought its price below LDCP by a large margin.

    Among scripts, PASL led the volumes with 66.9 million shares, followed by UNITY (35.5 million) and DSL (25.9 million).

    Sectors contributing to the performance include Technology (-50 points), Cement (-34 points), Vanaspati (-25 points), Textile (-18 points), Banks (+28 points) and Glas (+21 points).

    Volumes declined from 546.8 million shares to 499.7 million (-9 per cent DoD). Average traded value also declined by 11 per cent to reach US$ 83.5 million as against US$ 94.1 million.

    Stocks that contributed significantly to the volumes include PASL, UNITY, DSL, WTL and FFL, which formed 36 per cent of total volumes.

    Stocks that contributed positively to the index include MEBL (+21 points), GHGL (+21 points), BAFL (+11 points), MCB (+7 points) and INIL (+75 points). Stocks that contributed negatively include TRG (-32 points), UNITY (-25 points), LUCK (-20 points), SYS (-13 points) and HUBC (-12 points).

  • KSE-100 index declines by 149 points

    KSE-100 index declines by 149 points

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 149 points on Thursday. The index closed at 47,641 points as against previous day’s closing of 47,790 points, showing a decline of 149 points.

    Analysts at Arif Habib Limited said that the market traded in a narrow range between -207 points and +107 points.

    Profit booking was still at works, particularly in Technology, Banks, O&GMCs and Chemical stocks, where prices went up in previous sessions, whereas Steel and Cement sector stocks saw continuation of consolidation.

    Rupee parity has been stable however the outlook suggests an appreciation is in the offing that kept the investors undecided on portfolio positions.

    Among scrips, PTC led the table with 62.1 million shares, followed by TPL (42.6 million) and TELE (35.6 million).

    Sectors contributing to the performance include Misc (-36 points), Cement (-22 points), Technology (-20 points), O&GMCs (-17 points) and Pharma (-14 points).

    Volumes increased from 532.9 million shares to 546.8 million shares (+2 per cent DoD). Average traded value also increased by 1 per cent to reach US$ 92.7 million as against US$ 92.8 million.

    Stocks that contributed significantly to the volumes include PTC, TPL, TELE, GGL and HUMNL, which formed 35 per cent of total volumes.

    Stocks that contributed positively to the index include JLICL (+9 points), MTL (+9 points), PTC (+8 points), MEBL (+6 points) and HMB (+5 points). Stocks that contributed negatively include PSEL (-36 points), SYS (-15 points), TRG (-13 points), BAHL (-10 points) and SNGP (-10 points).

  • Stocks end firmer in range bound trading

    Stocks end firmer in range bound trading

    KARACHI: The Pakistan stocks experienced a modest uptick on Wednesday, with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closing at 47,790 points, registering a gain of 32 points from the previous day’s close of 47,758 points.

    (more…)
  • KSE-100 gains 305 points amid positive sentiments

    KSE-100 gains 305 points amid positive sentiments

    KARACHI: The benchmark KSE-100 index gained 305 points on Tuesday owing to positive sentiments prevailed over expected inflows from the IMF.

    The KSE-100 of Pakistan Stock Exchange (PSX) closed at 47,758 points as against previous day’s closing of 47,453 points, showing an increase of 305 points.

    The International Monetary Fund (IMF) has announced an allocation of $650 billion to boost global liquidity. Pakistan is likely to get around $2.8 billion out of the allocation by month end.

    Analysts at Arif Habib Limited said that the market continued moving up today albeit with an improvement in traded volumes.

    O&GMCs, Banks, Refinery, Technology and Textile sectors contributed positively to the index whereas E&P and Steel sector stocks remained under pressure.

    Optimism brewed on the back of rupee depreciation that will have positive bearing on the earnings of Textile, Technology & E&P sectors; as well as upcoming financial results.

    Among scrips, WTL topped the volumes with 36.3 million shares, followed by TELE (29.4 million) and BYCO (29.3 million).

    Sectors contributing to the performance include Cement (+64 points), Technology (+63 points), Banks (+55 points), O&GMCs (+42 points) and Refinery (+26 points).

    Volumes increased from 252.3 million shares to 443.2 million shares (+75 per cent DoD). Average traded value also increased by 75 per cent to reach US$ 98.8 million as against US$ 56.4 million.

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

    Stocks that contributed positively to the index include TRG (+51 points), HBL (+24 points), MEBL (+21 points), MLCF (+19 points) and POL (+17 points).

    Stocks that contributed negatively include ENGRO (-10 points), OGDC (-10 points), HMB (-9 points), PAKT (-8 points) and HUBC (-8 points).

  • KSE-100 gains 398 points amid COVID lockdown

    KSE-100 gains 398 points amid COVID lockdown

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday gained 398 points despite implementation of strict lockdown.

    The index closed at 47,453 points as against last Friday’s closing of 447,055 points, showing an increase of 398 points.

    Analysts at Arif Habib Limited said Disregarding the stringent COVID lockdown conditions, the KSE-100 index performed well today, adding a total of 453 points during the session.

    Traded volumes remained thin in comparison with daily traded volumes. Activity was tilted towards Technology and Textile sectors, which was mainly due to the ascend in PKR parity against USD, climbing 163 in the kerb market.

    Besides these sectors, investors took fresh positions in chemical, O&GMCs and Cement sector stocks after the successful closure of the rollover week on Friday.

    Financial results posted earlier in the session also helped reinforce and restores investor confidence. Among scrips, WTL led the volumes with 16.7 million shares, followed by HUMNL (15.9 million) and BYCO (13.7 million).

    Sectors contributing to the performance include Banks (+62 points), Technology (+58 points), Chemical (+48 points), Textile (+47 points) and Power (+31 points).

    Volumes declined from 399 million shares to 252.3 million shares (-37 per cent DoD). Average traded value also declined by 33 per cent to reach US$ 56.5 million as against US$ 84.1 million

    Stocks that contributed significantly to the volumes include WTL, HUMNL, BYCO, TELE and HASCOL, which formed 27 per cent of total volumes.

    Stocks that contributed positively to the index include TRG (+32 points), EPCL (+29 points), MCB (+27 points), HUBC (+25 points) and SYS (+25 points). Stocks that contributed negatively include DAWH (-10 points), LUCK (-7 points), POL (-5 points), AGP (-5 points) and BAFL (-4 points).

  • Weekly Review: lockdown may impact trading sentiments

    Weekly Review: lockdown may impact trading sentiments

    KARACHI: The lockdown imposed by Sindh government may impact positive sentiments in the stock market. Analysts at Arif Habib Limited said that Karachi is set to observe a more stringent lockdown in place next week to contain the highly contagious delta variant of the novel coronavirus.

    It appears the market may remain upwards sticky in the short term.

    Albeit, with the result season commencing, and cyclicals expected to post a robust jump in earnings on a YoY basis (given a nation-wise lockdown was enforced in 2Q last year), certain select stocks may come under limelight.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2021) compared to Asia Pac regional average of 15.8x and offering a DY of 6.7 per cent versus 2.4 per cent offered by the region.

    The KSE-100 index remained under pressure for most part of the week, closing in red on 4 out of 5 sessions.

    Key sentiment dampener was the sharp incline in domestic COVID ratio with businesses asked to operate at 50 per cent workforce.

    Albeit, with no relief on the infection front, the Sindh government announced a complete lockdown in Karachi for the following week, causing the equity bourse to book further losses today.

    Although investors heaved a sigh of relief during mid-week with the Central Bank holding its benchmark policy rate at 7 per cent, which translated to buying in cement and steel scrips.

    That said, the market ended at 47,055.29 points (down by 1.54 per cent / -738 points WoW).

    Contribution to the downside was led by i) Cements (212 points), ii) Commercial Banks (178 points), iii) Oil and Gas Exploration Companies (58 points), iv) Pharmaceuticals (53 points), and v) Oil and Gas Marketing Companies (51 points). Scrip-wise major losers were LUCK (118 points), TRG (62 points), MCB (60 points), PSO (45 points), and HBL (44 points). Whereas, scrip-wise major gainers were SYS (67 points), FCEPL (43 points), HUBC (38 points), ANL (34 points) and MTL (21 points).  

    Foreigners offloaded stocks worth of USD 5.4 million compared to a net sell of USD 21.02 million last week. Major selling was witnessed in Commercial Banks (USD 2.94 million) and All other Sectors (USD 2.56 million). On the local front, buying was reported by Banks (USD 6.30 million) followed by Mutual Funds (USD 2.43 million).

    That said, average daily volumes and traded value for the outgoing week were up by 28 per cent and 14 per cent to 405 million shares and USD 81 million, respectively. 

  • Stocks tumble on enforcement of COVID lockdown

    Stocks tumble on enforcement of COVID lockdown

    KARACHI: The stock exchange ended down by 257 points on Friday after the Sindh government to impose strict lockdown to prevent spread of coronavirus.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,056 points as against previous day’s close of 47,312 points, showing a decline of 257 points.

    Analysts at Arif Habib Limited said that with the optimism of deferring the COVID lockdown, the market added 330 points earlier in the session today, however, government’s decision to impose strict lock down in the face of rising COVID cases eroded all the earlier gains and caused the Index to tumble.

    Banks, O&GMCs, Cement, Chemical, Refinery and Technology sectors bore the brunt of lockdown, whereas steel sector performed well due to announcement of price increase by flat steel manufacturers.

    Among scrips, WTL led the table with 39.2 million shares, followed by BYCO (38.4 million) and TELE (24.6 million).

    Sectors contributing to the performance include Technology (-54 points), Fertilizer (-45 points), Cement (-35 points), Banks (-27 points) and Textile (-17 points).

    Volumes increased from 376.4 million shares to 399.1 million (6 per cent DoD). Average traded value also increased by 12 per cent to reach US$ 84.8 million as against US$ 75.7 million.

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

    Stocks that contributed positively to the index include EFERT (+12 points), MEBL (+11 points), PSX (+10 points), HMB (+9 points) and SCBPL (+8 points). Stocks that contributed negatively include TRG (-47 points), FFC (-44 points), HBL (-39 points), LUCK (-23 points) and PPL (-17 points).

  • Stock market ends stable after early day losses

    Stock market ends stable after early day losses

    KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed selling and lost around 363 points. But it recovered by end of the day.

    The benchmark KSE-100 index closed at 47,312 points as against previous day’s close of 47,318 points, showing a decline of 6 points.

    Analysts at Arif Habib Limited said that the market lost another 363 points during the session today, however, covered a lot of ground and ended the session -6 points.

    Banks, E&P, Cement, Power and Technology sectors saw selling pressure on the concern of lockdown as well as rollover positions, whereby investors preferred selling in ready market and bought futures.

    LUCK saw abrupt movement where the stock price remained depressed the entire session, moved up in the half closing hour and saw a major sell-off in the closing minute to end at the lowest price of the session.

    Among scrips, WTL led the volumes with 49.5 million shares, followed by BYCO (47.1 million) and UNITY (16.1 million).

    Sectors contributing to the performance include Banks (-40 points), Chemical (+19 points), Refinery (+12 points), Autos (+12 points), Fertilizer (+12 points) and Inv Banks (+11 points).

    Volumes increased from 365.7 million shares to 376.4 million shares (+3 per cent DoD). Average traded value declined slightly by 0.4 per cent to reach US$ 75.7 million as against US$ 75.8 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, UNITY, FFBL and HUMNL, which formed 36 per cent of total volumes.

    Stocks that contributed positively to the index include THALL (+13 points), EFERT (+12 points), LUCK (+11 points), DAWH (+9 points) and ICI (+8 points). Stocks that contributed negatively include HBL (-32 points), UBL (-9 points), HCAR (-9 points), ANL (-6 points) and PSMC (-5 points).

  • Stocks tumble over COVID lockdown concerns

    Stocks tumble over COVID lockdown concerns

    KARACHI: Pakistan Stock Exchange (PSX) tumbled on Wednesday over growing concerns related to COVID lockdown.

    The market also fell on probe by regulator for unusual price movement in certain stocks.

    The benchmark KSE-100 index closed at 47,318 points as against 47,687 points, showing a decline of 369 points.

    Analysts at Arif Habib Limited said that the market tumbled in later part of the session today, which brought the index down by more than 400 points and closed the session -369 points.

    Concerns over latest COVID lockdown and probe by the regulator on account of unusual price movement in certain stocks brought the market under selling pressure and became the major reasons for sentiment weakness.

    Earlier part of the session saw institutional investors building positions in Cement and Steel sectors that caused the pertinent scrips to show healthy price uptick, however, later activity in the market brought the stock prices down.

    Among scrips, WTL topped the volumes with 40.4 million shares, followed by BYCO (26.8 million) and TELE (13.2 million).

    Sectors contributing to the performance include Technology (-90 points), Cement (-42 points), Refinery (-33 points), Banks (-31 points) and E&P (-30 points).

    Volumes increased from 432.6 million shares to 365.8 million shares (-16 per cent DoD). Average traded value also dipped by 12 per cent to reach US$ 76.0 million as against US$ 85.9 million.

    Stocks that contributed significantly to the volumes include WTL, BYCO, TELE, UNITY and KEL, which formed 29 per cent of total volumes.

    Stocks that contributed positively to the index include KTML (+24 points), MEBL (+14 points), COLG (+14 points), PAKT (+4 points) and DAWH (+4 points). Stocks that contributed negatively include TRG (-73 points), UNITY (-25 points), NRL (-17 points), HUBC (-16 points) and LUCK (-16 points).