Analysts at Arif Habib Limited said that the market remained range-bound today due to concerns over monetary tightening and resuming of foreign selling spree.
Technology sector remained in the limelight throughout the day as traders placed the bet on high-beta stocks to mark quick trading gains. On the flip-side, Institutional investors fetched for value hunting as buying was observed in E&P and banking stocks.
In the last trading hour, investors opted for profit booking specially in cement and steel stocks in expectation of interest rate hike by SBP in the upcoming monetary policy.
Sectors contributing to the performance include Technology (+193 points), Refinery (+22 points), Chemical (+19 points), Leather (+12) and Insurance (+7 points).
Volumes increased from 307 million shares to 381 million shares (+24.2 per cent DoD). Average traded value also increased by 12.7 per cent to reach US$ 91.5 million as against US$ 81.08 million.
Stocks that contributed significantly to the volumes include PTC, HASCOL, WTL, TRG and TPLP.
Analysts at Topline Securities said that bullish momentum continued at PSX as well in the backdrop of improved trade deficit numbers on monthly basis, significant decline in international coal prices and anticipation of agreement between IMF and Government of Pakistan in the prevailing week as announced by the finance minister.
Market opened on a positive note and made an intraday high at 47,315 level (up 340 points; +0.72 per cent) before closing at 47,113 level (up 138 points; +0.29 per cent).
Initially, the cement sector led the show to celebrate substantial reduction of over 35 per cent in global coal prices but witnessed profit taking in the later half of the day.
Technology and Banking sector stocks also provided support by adding 156 points cumulatively.
During the day, total volume and value stood at 306 million shares and Rs8.37 billion, respectively. BYCO was the volume leader with 19.2 million shares traded in it, today.
Analysts at Topline Securities said that Pakistani equities started the week on a positive note and closed the day at 46,946.21.
Sentiments turned positive as the government announced on Sunday that it had reached an agreement with Tehreek-e-Labbaik Pakistan (TLP) to end a 10-day standoff with the latter.
Sentiments were further buoyed after Prime Minister Imran Khan rejected the Oil and Gas Regulatory Authority (OGRA) and Finance Ministry’s proposals to increase the prices of petroleum products.
Slight profit-taking was witnessed near the close of the session after the monthly CPI clocked in at 9.2 per cent YoY for the month of October 2021, which was above market expectations.
The total volume and value traded in the KSE All Share Index clocked in at 430.01 million shares and Rs14.78 billion respectively.
The volume leader for today was WTL with 53.86mn shares traded during the session.
KARACHI: The stock market ended with a gain of 273 points on Friday amid range-bound trading. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,219 points as against the previous day’s closing of 45,946 points.
Analysts at Topline Securities said that the range-bound session was observed on the last trading session of the week as the index traded within a range of an intraday high of 273 points and intraday low of 265 points to close at 46,219 level and up by 0.6 per cent.
Major contributions to the index came from LUCK, HBL, MLCF, CHCC and NML, as they cumulatively contributed 199 points to the index. On the other hand TRG, HUBC, MEBL, UBL and COLG lost value to weigh down on the index by 195 points.
Traded volume and value for the day stood at 243 million shares and Rs9.67 billion respectively.
HUMNL was today`s volume leader with 28 million shares.
The Pakistan Stock Exchange (PSX) experienced a positive uptick on Thursday as the benchmark KSE-100 index gained 199 points, closing at 45,991 points from the previous day’s closing at 45,792 points.
KARACHI: The stock market gained 623 points on Wednesday as new trading system suspended for more than two hours. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended 45,851 points from previous day’s closing of 45,228 points.
Analysts at Topline Securities said that the KSE-100 index rose 1.38 per cent to settle the day at 45,851 points.
The rally is attributed to improvement in sentiments owing to reports suggesting that Saudi Arabia would deposit $3 billion cash in the State Bank of Pakistan (SBP) and also provide $1.2 billion worth of oil on deferred payments which will further pave way for the resumption of the IMF program.
However, the new trading system kept activity restricted and trading was also suspended at noon for 2 hours and 30 minutes in order to resolve technical issues.
Volumes remained thin with 88 million shares traded in the KSE-100 index while the KSE All Share index saw a total traded volume of 163 million shares.
The volume leader for today was WTL with 11.84 million shares traded during the shortened session.
The KSE-100 index ended at 45,419 points as compared with previous day’s closing of 45,256 points.
Analysts at Topline Securities said that another lack lustered day at PSX where bourse witnessed a range bound activity.
The benchmark index cycled in 270 points during trading hours as KSE-100 index made an intraday high and low of 45,517 and 45,214, respectively before closing at 45,256.
Investors’ sentiment remained low today in absence of any positive trigger as no progress on IMF program front, Chief of intelligence agency notification is yet to get issued and no updates on Saudi oil deferral payment facility.
During the day, Technology, E&P and Banking sector’ stocks seen some profit taking where TRG, MARI, HBL, UBL, PPL & OGDC cumulatively lost 182 points while, SYS, MEBL & HUBC provided some support by contributing 86 points positively.
On the corporate announcement fronts, MARI posted 1QFY22 EPS at Rs68.21. Earnings were inline with industry expectations. ISL earned the EPS of Rs6.13 1QFY22. Earnings were higher than industry expectations.
During the day, all shares volumes and values stood at 162.97 million shares and Rs5.7 billion, respectively. HUMNL led the volumes chart today as 24.88 million shares traded today in it.
KARACHI: The stocks have witnessed a decline of 149 points on Monday owing to inflationary pressure and rise in international oil prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 45,429 points as compared with last Friday’s closing of 45,578 points.
Analysts at Topline Securities said that a lackluster session was observed at the bourse today with the KSE-100 index closing the day at 45,429.
Higher international oil prices coupled with concerns over the inflationary pressures kept the market in check.
MEBL, LUCK, HBL, MLCF & AKBL were the major laggards in the KSE-100 index and cumulatively dragged the index down by 126.06 points while on the other hand THALL, PPL, DAWH, FFC & SHFA cumulatively added 62.2 points.
Volumes remained extremely low after the introduction of the new PSX trading system which witnessed its 1st day live trading.
The KSE All Share Index saw a volume and value traded of 165.91 million shares and Rs4.98 billion respectively. The volume leader for today was HUMNL with 50.757 million shares exchanging hands as the company notified the exchange that they have received a Public Announcement of Intention by Duraid Qureshi to acquire up to 35.15 per cent of the total issued paid up capital of the company.
KARACHI: The stock market is likely to stay positive during the next week as the IMF and Pakistan expected to reach an agreement.
Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With IMF and Pakistan expected to reach agreement soon, the investor sentiment is anticipated to remain buoyant.
Moreover, with the ongoing result season, certain sectors and scrips are expected to stay under limelight.
Keeping in view concerns over inflation and devaluation of Pak Rupee against greenback, investors are expected to have a cautious approach.
The KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.2x (2021) compared to Asia Pac regional average of 14.7x while offering a dividend yield of ~8.1 per cent versus ~2.2 per cent offered by the region.
The market commenced on a negative note this week given the uncertainty over outcome of Pakistan-IMF talks tagged with surge in petroleum prices raising concerns over inflation.
The market sentiment changed after Advisor to the PM informed that talks with IMF were moving in the positive direction, with staff-level agreement expected to be reached soon.
Alongside this, the current account deficit for September 2021 narrowed by 24.5 per cent MoM to USD 1.1 billion, fueling the positive momentum.
On the flip, continuous drop in PKR/USD parity to PKR 174 (all time high exchange rate), reduction in SBP reserves by 8 per cent WoW to USD 17.5 billion and FATF retaining Pakistan on grey-list in its plenary meeting, kept the index in check.
Albeit, the market closed at 45,578 points, gaining 757 points (up by 1.7 per cent) WoW.
Sector-wise positive contributions came from i) Commercial Banks (463 points), ii) Cement (184 points), iii) Oil & Gas Exploration Companies (137 points), iv) Fertilizer (107 points), and v) Insurance (42 points).
Whereas, sectors which contributed negatively were i) Technology & Communication (155 points), and ii) Food & Personal Care Products (31 points).
Scrip-wise positive contributors were HBL (187 points), UBL (150 points), ENGRO (99 points), LUCK (72 points) and MCB (64 points).
Meanwhile, scrip-wise negative contribution came from TRG (113 points), PSO (27 points) and SYS (26 points).
Foreign selling continued this week, clocking-in at USD 7.3 million compared to a net sell of USD 13.3 million last week. Major selling was witnessed in Fertilizer (USD 4.5 million) and Commercial Banks (USD 3.8 million). On the local front, buying was reported by Insurance Companies (USD 4.6 million) followed by Other Organizations (USD 2.5 million).
Average volumes clocked-in at 299 million shares (down by 13 per cent WoW) while average value traded settled at USD 64 million (down by 10 per cent WoW).
Analysts at Topline Securities said that the KSE 100 index opened on a positive note and gain to make an intraday high of 217 points, however it failed to sustain its momentum on account of protest by right wing religious party and opposition party alliance (Pakistan Democratic Movement) across Pakistan.
A major contributions to the index came from HBL, UBL, AICL, CHCC and THALL, as they cumulatively contributed 104 points to the index. On the flip side TRG, ENGRO, PPL, PSO, and OGDC, as cumulatively contributed 167 points to the index.
Traded volume and value for the day stood at 301 million shares and Rs11.8 billion. HUMNL was today`s volume leader with 36 million shares.
