Tag: KSE-100

KARACHI: The stock market likely to witness mixed trading activities during next week owing to grey list status of Pakistan and budget incentives.

Analysts at Arif Habib Limited said that the market to depict a mixed to positive trend in the upcoming week attributable to: FATF’s announcement to keep Pakistan on Grey List; and sectors that got major relief in the budget will remain in the limelight.

On the other hand, E&P scrips are expected to continue performing well due to higher international oil prices and government shelving divestment plan of OGDC and PPL and also deferring divestment of government shares in MARI.

However, a Current Account Deficit of USD 632 million for May’21 and uptick in CPI in the upcoming months, may dampen investors sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.8x (2021) compared to Asia Pac regional average of 16.5x while offering a dividend yield of ~6.9 per cent versus ~2.3 per cent offered by the region.

This week trading commenced on a negative note with the index shedding 226 points on Monday amid economic uncertainty given surge in international oil price along with deprecation of the rupee might which is expected to push up inflationary readings in upcoming months.

Pessimism at the bourse was further fueled by i) Unavailability of gas to non-export related industries, ii) Petrol shortage at many fuel stations in Pakistan as oil tankers go on a countrywide strike which might affect business of exporters, iii) proposal for reclassification of Pakistan from MSCI Emerging Market to Frontier Market, and iv) Uncertainty over the FATF plenary outcome led to profit taking by investors. The KSE-100 index closed at 47,603 points, down by 635 points or 1.32 per cent 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 7.88 million compared to a net sell of USD 6.76 million last week. Major selling was witnessed in All other sectors (USD 7.42 million) and Commercial Banks (USD 1.94 million). On the local front, buying was reported by Individuals (USD 13.71 million) followed by Banks (USD 12.86 million). That said, average daily volumes and traded value for the outgoing week were down by 34 per cent and 35 per cent to 694 million shares and USD 112 million, respectively.

KARACHI: The stock market witnessed a decline of 359 points on Friday as across the board selling pressure observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,604 points as against previous day’s close of 47,963 points, showing a decline of 359 points.

Analysts at Arif Habib Limited said that the rollover week ended with market shedding 486 points during the session and closing the index -359 points.

Overnight intimation from MSCI regarding possible downgrade of Pakistan from MSCI Emerging Market Index to MSCI Frontier market Index, had investors perplexed on the upgrade of stocks in the recent MSCI review particularly LUCK and TRG, which were added to the Standard and Small index respectively.

In addition, Finance Minister’s final budget speech had positive surprise for auto stocks.

Selling pressure was observed across the board, with concentration towards Banks, E&P and Cement sector stocks. Among scrips, WTL topped the volumes with 142 million shares, followed by BYCO (53.7 million) and PACE (44.9 million).

Sectors contributing to the performance include Banks (-114 points), Cement (-101 points), E&P (-63 points), Pharma (-40 points) and Inv Banks (-28 points).

Volumes increased from 638.8 million shares to 761.3 million shares (+19 per cent DoD). Average traded value also increased by 32 per cent to reach US$ 138.0 million as against US$ 103.8 million.

Stocks that contributed significantly to the volumes include WTL, BYCO, PACE, TPL and KEL, which formed 39 per cent of total volumes.

Stocks that contributed positively to the index include PSEL (+29 points), FCEPL (+14 points), SYS (+12 points), ANL (+7 points) and HUBC (+7 points). Stocks that contributed negatively include LUCK (-66 points), HBL (-50 points), UBL (-36 points), PPL (-20 points) and DAWH (-19 points).

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a modest upswing on Thursday, with the benchmark KSE-100 index gaining 62 points in a day marked by narrow range trading.

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KARACHI: The Pakistan stocks experienced a modest decline on Wednesday, closing down by 86 points amid a day characterized by range-bound trading activity.

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KARACHI: The stock market ended flat on Tuesday in a range bound trading activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,987 points as against previous day’s closing of 48,013 points, showing a decline of 25 points.

Analysts at Arif Habib Limited said that the market remained depressed trading in a narrow range between -81 points and +142 points, closing the session -25 points.

Lack of direction in the market and docile reaction to price triggers (particularly Crude Oil) has led the market into obscurity. Selling pressure remained evident in Cement, E&P, O&GMCs, Steel, Technology and Power sectors.

Textile sector did see some positive activity with NCL, NML, GATM and ILP showing better price performance. Among scrips, SILK realized trading volume of 75.1 million shares, followed by WTL (48.2 million) and KEL (37.4 million).

Sectors contributing to the performance include Textile (+68 points), Technology (+18 points), E&P (+16 points), Food (+12 points) and Miscellaneous (-32 points).

Volumes declined from 839.2 million shares to 610.7 million shares (-27 percent DoD). Average traded value also declined by 2 percent to reach US$ 98.1 million as against US$ 100.5 million.

Stocks that contributed significantly to the volumes include SILK, WTL, KEL, ANL and TPL, which formed 37 percent of total volumes.

Stocks that contributed positively to the index include SYS (+30 points), KTML (+21 points), MARI (+21 points), ANL (+20 points) and GATM (+13 points). Stocks that contributed negatively include PSEL (-34 points), UNITY (-12 points), DAWH (-10 points), NBP (-10 points) and OGDC (-9 points).

KARACHI: The stock market fell by 226 points on Monday owing to concerns of inflationary pressure and rise rupee/dollar parity.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 48,013 points as against last Friday’s closing of 48,239 points, showing a decline of 226 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between +132 points and -275 points, closing the session -226 points.

Uncertainty prevailed during the session due to concerns over increase in oil prices giving rise to inflation as well as the increase in Rupee : Dollar parity which caused the investors to take a cautious approach.

Despite increase in cement price / bag in the outgoing week, Cement and Steel sector stocks were down. Though oil prices have maintained stable ground, E&P sector remained under selling pressure. Among scrips, SILK topped the volumes with 235.1 million shares, followed by HUMNL (60.3 million) and WTL (58.4 million).

Sectors contributing to the performance include Cement (-64 points), Banks (-3 points), Chemical (-25 points), Fertilizer -24 points), O&GMCs (-20 points).

Volumes increased from 750.5 million shares to 839.2 million shares (+12 percent DoD). Average traded value declined by 23 percent to reach US$ 100.8 million as against US$ 131.2 million.

Stocks that contributed significantly to the volumes include SILK, HUMNL, WTL, PIBTL and FFL, which formed 53 percent of total volumes.

Stocks that contributed positively to the index include SYS (+19 points), FCEPL (+12 points), MEBL (+6 points), SNGP (+6 points) and HUBC (+6 points). Stocks that contributed negatively include LUCK (-33 points), PSO (-22 points), MCB (-20 points), COLG (-15 points) and ENGRO (-14 points).

KARACHI: The stock market is likely to regain positive momentum next week on the expected exit of Pakistan from the grey list of Financial Action Task Force (FATF).

Analysts at Arif Habib Limited said that the market to regain positive momentum in the coming week. With FATF’s Plenary Session to be held on 21st June 2021, the index is expected to bounce back as an exit from the grey list seems imminent.

Furthermore, on COVID-19 front, infection ratio has dropped to 1.91 percent (which is an 8 month low).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2021) compared to Asia Pac regional average of 16.5x while offering a dividend yield of ~6.8 percent versus ~2.6 percent offered by the region.

The market commenced on a positive note this week given a set of relief measures announced in the Budget such as a decline in capital gain tax to 12.5 percent from 15 percent tagged with positive measures for refineries, auto sector and information technology sector.

Moreover, the government increased dividend expectations from OGDC and PPL (Rs17.50/share and Rs8.25/share, respectively) which kept these scrips in the limelight.

However, the market turned red later in the week as the investors resorted to profit-taking. Furthermore, a deadlock between the IMF and the government persisted which further stressed sentiment. Albeit, the market settled at 48,239 points, shedding 66 points (down by 0.14 percent) WoW.

Sector-wise negative contributions came from i) Commercial Banks (176  points) ii) Fertilizer (88  points), iii) Food & Personal Care Products (52  points), iv) Automobile Assembler (34  points) and v) Miscellaneous (31  points). Whereas, the sectors that contributed positively include Oil & Gas Exploration Companies (156  points), Cement (74  points), Power Generation & Distribution (31  points), Engineering (30  points) and Tobacco (25  points). Scrip-wise negative contributors were HBL (88  points), UNITY (56  points), TRG (47  points), UBL (40  points) and EFERT (34  points). Scrip-wise positive contributors were OGDC (99  points), POL (64  points), HUBC (46  points), LUCK (36  points) and SYS (28  points).

Foreign selling continued this week clocking-in at USD 6.8 million compared to a net buy of USD 7.5 million last week. Selling was witnessed in Commercial Banks (USD 2.5 million) and Technology (USD 2.5 million). On the domestic front, major buying was reported by Individuals (USD 21.4 million and Mutual Funds (USD 10.9 million). Average volumes arrived at 1,049 million shares (down by 3 percent WoW) while average value traded settled at USD 170 million (up by 6 percent WoW).

KARACHI: The stock market gained 81 points on Friday while trading in narrow range trading activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 48,239 points as against previous day’s close of 48,158 points, showing an increase of 81 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between -135 points and +254 points, closing the session +81 points.

Refineries, Cement, Fertilizer, O&GMCs and Technology sector inched up, which helped index trade in the positive territory.

Concerns of redemption with some mutual funds maintained selling pressure.

Among scrips, HUMNL led the volumes with 88.1 million shares, followed by WTL (76.4 million) and BYCO (70.7 million).

Sectors contributing to the performance include Banks (77 points), Vanaspati (-12 points), Cement (+58 points), Refinery (+39pst), Technology (+19 points).

Volumes declined from 1117.4 million shares to 750.6 million shares (-33 percent DoD). On the contrary, Average traded value increased by 5 percent to reach US$ 131.8 million as against US$ 124.9 million.

Stocks that contributed significantly to the volumes include HUMNL, WTL, BYCO, UNITY and SILK, which formed 44 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+31 points), NRL (+20 points), POL (+20 points), TRG (+19 points) and FFC (+14 points).

Stocks that contributed negatively include HBL (-63 points), MTL (-15 points), OGDC (-14 points), MCB (-13 points) and UNITY (-12 points).

KARACHI: The stock market tumbled on Thursday as selling pressure continued during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 48,158 points as against previous day’s closing of 48,481 points, showing a decline of 323 points.

Analysts at Arif Habib Limited said that the market tumbled again today with a drop of 365 points during the session and closing -323 points.

Refineries, O&GMCs, Cement, Engineering, Banks, Fertilizer and Technology stocks saw persistent selling pressure despite budget incentives announced last Friday.

E&P companies were relatively unscathed on the back of stable oil prices, which hovered around US$ 74/bbl. Among scrips, WTL topped the volumes with 243 million shares, followed by SILK (187.6 million) and KEL (57.4 million).

Sectors contributing to the performance include Banks (-62 points), Power (-44 points), O&GMCs (-34 points), Technology (-29 points) and Refinery (-28 points).

Volumes increased from 936.6 million shares to 1117.4 million shares (+19 percent DoD). Average traded value declined by 13 percent to reach US$ 125.1 million as against US$ 142.9 million.

Stocks that contributed significantly to the volumes include WTL, SILK, KEL, BYCO and HUMNL, which formed 50 percent of total volumes.

Stocks that contributed positively to the index include POL (+14 points), OGDC (+10 points), PSX (+10 points), FCEPL (+9 points) and LUCK (+6 points). Stocks that contributed negatively include HUBC (-31 points), TRG (-28 points), HBL (-26 points), UNITY (-24 points) and PSEL (-15 points).

KARACHI: The stock market ended down by 152 points on Wednesday amid selling pressure witnessed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 48,481 points as against previous day’s closing of 48,633 points, showing a decline of 152 points.

Analysts at Arif Habib Limited said that the market saw persistent selling pressure that was felt across the board and made the index trade between -201 points and +246 points, closing the session -152 points.

Among E&P, OGDC and PPL both traded below LDCP against POL, which showed price uptick. Cement sector also traded in a narrow range. Although KEL & WTL retained top slot, volumes remained relatively low. Among scrips, KEL realized 114.9 million shares in trading, followed by WTL (86.4 million) and BYCO (63 million).

Sectors contributing to the performance include Textile (+25 points), Cement (-54 points), Banks (-33 points), Chemical (-24 points), Fertilizer (-17 points) and Pharma (-16 points).

Volumes declined from 1224.5 million shares to 936.7 million shares (-24 percent DoD). Average traded value also declined by 21 percent to reach US$ 142.7 million as against US$ 179.8 million.

Stocks that contributed significantly to the volumes include KEL, WTL, BYCO, HASCOL and GGGL, which formed 38 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+27 points), PAKT (+17 points), POL (+16 points), KTML (+16 points) and SRVI (+9 points). Stocks that contributed negatively include ENGRO (-21 points), PPL (-17 points), COLG (-15 points), KEL (-14 points) and DGKC (-14 points).