Tag: KSE-100

KARACHI: The stock market witnessed a decline of 633 points on Thursday owing to surge in cases of coronavirus in the country.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,564 points as against previous day’s closing of 41,197 points, showing a decline of 633 points.

Analysts at KASB Research said that Pakistan Stocks were remained under pressure throughout the day amid a deteriorating coronavirus situation in the country.

Investors feared that an intensifying pandemic situation and any new restrictions to curb the spread of coronavirus will have a negative impact on the economy.

However, optimism about a Covid-19 vaccine pushed the market up at the start of the week. But the excitement has been seen fading away in the last 2 sessions as investors and health experts raise questions about when it may become available for widespread use.

“We expect that the rising coronavirus cases and risk of fresh restrictions by the government will keep the market jittery in the coming days,” the analysts said.

Analysts at Topline Securities Limited said that after a sideway opening benchmark KSE100 Index slid making an intraday low of 704 points.

Initial negativity came from both SUI’s as OGRA rip unaccounted Gas UFG losses for both RLNG consumers for both SUI’s resultantly SNGP and SSGC closed 7.5 percent and 5.79 percent lower respectively.

Further, Banks, E&Ps and Cements were the major laggards in today’s trading session. Volumes remained thin with total volume clocking in at 325 million shares while total traded value for the day stood at Rs. 11.19 billion. UNITY was today’s volume leader with 29.4 million shares traded.

KARACHI: The stock market gained 44 points on Wednesday amid range bound trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,197 points as against 41,153 points showing an increase of 44 points.

Analysts at Arif Habib Limited said that the market traded range bound today between +177 points and -253 points, closing the session +44 points.

International crude oil prices (+3.5 percent) helped E&P sector to post hefty price gains, however, market’s fear of unknown that emanates from developing political wrangling between the Opposition and the Incumbent Govt. kept the increase in Index in check.

Cement Sector stocks saw selling pressure on the expectation of decline in monthly dispatches based on the first week of November. Fertilizer, O&GMCs and Banking sector stocks remained subdued due to somber investor sentiment.

Overall volumes also dropped over the day due to investor sentiment. Among scrips, BIPL topped the volumes with 31.5 million shares, followed by TRG (25 million) and KEL (16.3 million).

Volumes declined from 355.9 million shares to 244.3 million shares (-31 percent DoD). Average traded value also declined by 43 percent to reach US$ 54.6 million as against US$ 95.5 million.

Sectors contributing to the performance include E&P (+130 points), Banks (+35 points), Technology (+22 points), Cement (-62 points) and Power (-11 points).

Stocks that contributed significantly to the volumes include BIPL, TRG, KEL, ASC and POWER, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+55 points), PPL (+37 points), HBL (+36 points), POL (+25 points) and TRG (+16 points). Stocks that contributed negatively include LUCK (-25 points), ENGRO (-17 points), MLCF (-9 points), CHCC (-8 points) and KEL (-8 points).

The stock market experienced a surge on Tuesday, gaining 369 points amid positive sentiment following an announcement from an international pharmaceutical company regarding a new COVID-19 vaccine.

(more…)

The Pakistan Stock Exchange (PSX) witnessed a modest gain of 52 points on Monday, with the benchmark KSE-100 index closing at 40,784 points, up from the previous day’s close of 40,732 points. The day’s trading was characterized by a range-bound session, with the index fluctuating between a high of +212 points and a low of -135 points.

(more…)

KARACHI: The stock exchange likely to move positive during upcoming week on the back of improved macro-economic front.

Analysts at Arif Habib Limited said that the market to remain green due to reasons included: improvement on the macro-economic front amid reduction in trade deficit (rising exports and decreasing imports); strengthening PKR/USD parity; no expectation of immediate rate hike; and robust dispatches reported by cyclical sectors.

On the other hand, upcoming auto data (released by PAMA) is expected to attract investors’ interest in the automobile sector.

However, a surprise swing in the US elections may disrupt global investors’ confidence together with rising global coronavirus cases as daily cases crossed 600,000 mark for the first time on November 05, 2020, exerting pressure on countries to impose a lockdown.

The benchmark KSE-100 is currently trading at a PER of 7.2x (2021) compared to Asia Pac regional average of 14.1x while offering a dividend yield of ~6.2 percent versus ~2.6 percent offered by the region.

This week trading commenced on a negative note and the index nosedived by 776 points on Monday due to i) continuous surge in Covid-19 cases together with rising infection ratio from 2 percent per day to 4 percent, ii) dismissal of review petition on GIDC case by the Honorable supreme court, and iii) budding pressure on global equities and commodities in anticipation of the US presidential election.

However, the negative performance was short lived as the index displayed a rebound on Tuesday and increased by 1,369 points (highest day increase after April 17, 2020) as i) nation-wide lockdown was ruled out by the NCOC, ii) announcement of an electricity relief package for industrial sector by Prime Minister, iii) CPI at 8.9 percent (lower then anticipation), and iv) recovery in global equities with Biden in the lead in US elections.

As a result, the KSE-100 index closed at 40,732 points, up by 844 points or 2.11 percent WoW.

Contribution to the upside was led by i) Commercial Banks (203 points), ii) Oil and Gas Exploration Companies (149 points), iii) Technology and Communication (97 points), iv) Cement (74 points), and v) Fertilizer (57 points). Scrip-wise major gainers were POL (90 points), TRG (83 points), MEBL (61 points), BAFL (35 points), and HMB (33 points). Whereas, scrip-wise major losers were HBL (38 points), FFC (14 points) PAKT (13 points), MUREB (6 points) and APL (6 points).

Foreigners offloaded stocks worth of USD 5.50 million compared to a net sell of USD 21.34 million last week. Major selling was witnessed in Commercial Banks (USD 3.46 million) and E&P (USD 1.86 million). On the local front, buying was reported by Individuals (USD 5.37 million) followed by Insurance Co. (USD 3.63 million). That said, average daily volumes and traded value for the outgoing week were down by 21 percent and 20 percent to 368 million shares and USD 79 million, respectively.

Karachi, Pakistan – The share market experienced a sharp decline on Friday, shedding 340 points due to selling pressure across various sectors.

(more…)

The stock market recorded a significant rise on Thursday, with the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gaining 789 points. The index closed at 41,071 points, up from 40,282 points, fueled by gains in international oil prices and strong performance in regional stock markets.

(more…)

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Wednesday declined by 199 points over investors attention on US elections and global commodity markets.

The KSE-100 index closed at 40,280 points as against 40,481 points showing a decline of 199 points.

Analysts at Arif Habib Limited said that the market opened on a positive note and added another 434 points in addition to yesterday’s 1368 points jump in the index.

However, profit booking kept a check on the additional points, keeping the index movement in the positive zone between +150 points and +400 points in the early hours. E&P, Cement, Banks and Fertilizer sector stocks contributed to the trading in that phase.

US Elections also had local investors attention, conjecturing the prospects of Trump’s winning on global stock markets as well as Commodity markets.

Selling pressure brought key stocks in Banking, Cement and O&GMCs sectors close red. Among scrips, UNITY contributed 47.7 million shares, followed by FFL (34.7 million) and HASCOL (30.3 million).

Sectors contributing to the performance include Banks (-88 points), Cement (-45 points), Power (-41 points), Pharma (-25 points) and O&GMCs (-21 points).

Volumes increased from 383.9 million shares to 427.8 million shares (+11 percent DoD). Average traded value however, increased by 1 percent to reach US$ 87.0 million as against US$ 86.3 million.

Stocks that contributed significantly to the volumes include UNITY, FFL, HASCOL, FFBL and TRG, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include FFBL (+14 points), OGDC (+12 points), MTL (+11 points), TRG (+10 points) and COLG (+10 points). Stocks that contributed negatively include HBL (-38 points), HUBC (-37 points), UBL (-27 points), PSO (-17 points) and BAHL (-17 points).

KARACHI: The stock market made a massive recovery of 1,369 points on Tuesday owing to increase in international oil prices and positive trend in global stocks.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,480 points as against 39,112 points showing an increase of 1,369 points.

Analysts at Arif Habib Limited said that the market rebounded today by adding a resounding +1400 points during the session and closing near day’s high at +1369 points.

Increase in international crude oil prices overnight as well as positive trend in global stock markets (following the Election day rally) helped the local bourse stage a comeback.

Besides, PM’s announcement with regards lowering the cost of electricity for Industrial consumers, which came by the end of session, also helped strengthen the Index.

Banking sector, which was under significant selling pressure during the past few sessions saw buyers taking charge over the sellers, giving way for the stock prices to trade near upper circuits.

Among scrips, UNITY led the table with 42.8 million shares, followed by POWER (35.6 million) and HASCOL (29.4 million).

Sectors contributing to the performance include Banks (+356 points), E&P (+170 points), Cement (+157 points), O&GMCs (+95 points) and Fertilizer (+91 points).

Volumes increased from 322.2 million shares to 383.9 million shares (+19 percent DoD). Average traded value also increased by 15 percent to reach US$ 86.2 million as against US$ 74.8 million.

Stocks that contributed significantly to the volumes include UNITY, POWER, HASCOL, AGHA and PIBTL, which formed 38 percent of total volumes.

Stocks that contributed positively to the index include HBL (+83 points), UBL (+79 points), POL (+70 points), LUCK (+64 points) and ENGRO (+61 points). Stocks that contributed negatively include COLG (-6 points), HGFA (-1 points) and EFUG (-0 points).

KARACHI: The stock market recorded 776 points decline on Monday owing to resurgence of coronavirus and end of results season.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,112 points as against 39,888 points showing a decline of 776 points.

Analysts at Arif Habib Limited said that the market continued the downtrend following end of earnings season as well as rapid spike in COVID related cases that resulted in a loss of 1109 points during the session, ending the session 776 points.

Market saw signs of intermittent recovery during the session on the pretext of SC’s decision on GIDC review case, which bodes well for Fertilizer stocks, as well as anticipation with regards Amnesty scheme.

However, selling pressure kept the Index recovery in check. Selling was observed across the board, however, brisk buying was seen in AGHA post listing, which took the stock price to upper circuit.

Among stocks, HASCOL topped the volumes with 32.4 million shares, followed by UNITY (31.1 million) and PIBTL (20.1 million).

Sectors contributing to the performance include Banks (-186 points), E&P (-143 points), O&GMCs (-71 points), Cement (-58 points) and Fertilizer (-53 points).

Volumes declined from 541.8 million shares to 322.3 million shares (-41 percent DoD). Average traded value also declined by 41 percent to reach US$ 74.7 million as against US$ 127 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, PIBTL, PR and POWER, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include DAWH (+17 points), DGKC (+5 points), UNITY (+4 points), NATF (+4 points) and IGIHL (+4 points). Stocks that contributed negatively include HBL (-69 points), OGDC (-66 points), PPL (-60 points), LUCK (-45 points) and MCB (-38 points).