Tag: KSE-100

KARACHI: The stock market may be dictated by FATF’s plenary sessions scheduled to be held next week. Analysts at Arif Habib Limited said that the stock market next week will be dictated by FATF’s plenary session scheduled to be on October 21 – 23, 2020.

Whereas reappearance of COVID-19 infection ratio to over 2 percent may also trigger another smart lockdown in big cities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.3x (2021) compared to Asia Pac regional average of 13.9x and while offering DY of ~6.3 percent versus ~2.7 percent offered by the region.

The market slipped again this week as APG (Asia-Pacific Group, a regional affiliate of the Financial Action Task Force – FATF) retained Pakistan on its enhanced follow-up list based on the country’s performance up until February 2020, while concerns over rising inflationary levels, news flow citing hurdles over continuation of the IMF program, and aggression from the opposition also dampened sentiment at the index.

Although Remittances attaining the above USD 2bn level for the fourth consecutive month in Sep’20 (up by 31 percent YoY) and suspension of poor nations’ debt repayment by the G20 for another six months, provided respite.

We do highlight that foreign markets remained jittery as well with the US Presidential election only a few sessions away.

The benchmark KSE-100 index closed at 40,164points (down by 1.6 percent / 634 points WoW).

Sector-wise negative contributions came from i) Oil and Gas Exploration Companies (212points), ii) Cement (116 points), iii) Power Generation and Distribution (60 points), iv) Oil and Gas Marketing Companies (56 points), and Technology & Communication (51 points). On the other hand, positive contributions were led Chemical (16 points) and Commercial Banks (10 points). Scrip-wise top negative contributors were HUBC (69 points), PPL (68 points) and OGDC (63 points).

Foreign selling continued this week clocking-in at USD 2.7 million compared to a net sell of USD 7.5 million last week. Selling was witnessed in E&P (USD 2.8 million) and Cement (USD 0.8 million). On the domestic front, major buying was reported by Banks / DFIs (USD 7.6 million and Insurance Companies (USD 2.4 million).

Average volumes arrived at 296 million shares (down by 29 percent WoW) while average value traded settled at USD 61 million (up by 24 percent WoW).

KARACHI: The share market gained 95 points on Friday amid mixed trading sessions and political uncertainty.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 40,164 points from previous day’s closing of 40,070 points, showing an increase of 95 points.

Analysts at Topline Securities said that KSE-100 index depicted erratic behavior today, where it traded between an intraday high of 152 points and intraday low of -326 points, to finally close at 40,164.

Major contribution to the index came from HBL, MEBL, UNITY, FFBL and DGKC, where they cumulatively contributed 158 points to the index, whereas MTL, PPL, LUCK, ENGRO and FCEPL lost value to weigh down the index by -78 points.

Low participation was observed today, where investors preferring to remain on sideline, given political noise in the country where opposition is staging multiple power shows against the government.

Traded volume and value for the day stood at 254 million shares and Rs.7.7 billion. UNITY was today`s volume leader with around 45 million shares.

KARACHI: The share market fell by 76 points on Thursday owing to rising political uncertainty in the country.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,068 points from previous day’s closing of 40,144 points, showing a decline of 76 points.

Analysts at Topline Securities said that the market opened on a positive note making an intraday high of 389 points owing to announcement of G20 nations regarding extension of the debt suspension by an additional six months for six countries which includes Pakistan as well.

However, the positivity did not sustain at the bourse as investors were concerned over decline in Global markets, International oil prices and political uncertainty.

On the result front, EPCL announced its 3Q2020 EPS of Rs2.07 (+48 percent YoY) – Earnings were higher than industry expectations, additionally, material information was also released stating that Engro Peroxide (private) limited a wholly owned subsidiary will be resuming work in the last quarter of 2020 leading the scrip to close at its upper circuit.

Traded volume and value for the day increased by 39 percent and 29 percent on DoD basis to 324 million shares and Rs.11.01 billion, respectively.

KARACHI: The stock market gained 138 points on Wednesday amid high volatile trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 40,144 points from previous day’s closing of 40,007, showing a gain of 138 points.

Analysts at Topline Securities said that Pakistan equities end higher in a volatile session where benchmark KSE-100 Index settled at 40,144 level.

After positive opening benchmark KSE100 Index traded in a range of 330 points with thin volumes.

Upcoming public rallies by PDM as part of its anti-government drive, FATF preliminary session due next week and upcoming result season led the investors to remain hesitant.

SHEL and ANL closed at their respective upper circuits where on the other hand AICL, BAFL and POL declined.

Traded volume and value for the day decreased by 20 percent and 13 percent on DoD basis to 232 million shares and Rs.8.52 billion, respectively.

KARACHI: The share market fell by 203 points on Tuesday owing to rising concerns over FATF upcoming meeting and rising inflation number.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,007 points as against 40,210 points showing a decline of 203 points.

Analysts at Arif Habib Limited said that the market continued the downtrend today following yesterday’s attrition on account of FATF concerns, which was further worsened by an uptick in inflation numbers.

Overall, the index lost 564 points but partly recovered by the end of session to close -203 points.

Selling was observed almost across the board, with the exception of PSO, HBL, UNITY, KEL among stocks which traded positive for better part of the session.

Buying activity in LUCK close to end of session also contributed to the recovery in lost points. HASCOL topped the volumes with 43.8 million shares, followed by TRG (28.5 million) and UNITY (19.1 million).

Sectors contributing to the performance include E&P (-68 points), Banks (-32 points), Fertilizer (-30 points), Power (-25 points) and Cement (-19 points).

Volumes declined from 377.6 million shares to 290.1 million shares (-23 percent DoD). Average traded value also declined by 24 percent to reach US$ 59.9 million as against US$ 78.9 million.

Stocks that contributed significantly to the volumes include HASCOL, TRG, UNITY, KEL and PIBTL, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include HBL (+17 points), TRG (+8 points), LUCK (+8 points), DAWH (+8 points) and KEL (+8 points). Stocks that contributed negatively include HUBC (-32 points), PPL (-27 points), OGDC (-24 points), MCB (-23 points) and ENGRO (-21 points).

KARACHI: The stock market fell by 589 points on Monday as investors opted for profit booking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,210 points as against 40,798 points showing a decline of 589 points.

Analysts at Arif Habib Limited said that the market braced the impact of APG’s (Asia Pacific Group) decision to maintain Pakistan’s position on Enhanced Follow-up List, which was primarily an evaluation based on Pakistan’s performance as of February 2020.

The plenary session is scheduled to be held during October 21-23, 2020.

The index which added another 249 points during the session today, on top of 2230 points since recent low, all of a sudden felt quite heavy to retail investors who considered it best to book profit and close positions.

Among scrips, POWER topped the volumes with 50.4 million shares, followed by HASCOL (41.8 million) and TRG (23.4 million).

Sectors contributing to the performance include E&P (-98 points), Cement (-85 points), Banks (-72 points), O&GMCs (-50 points) and Power (-48 points).

Volumes increased from 358.8 million shares to 377.6 million shares (+5 percent DoD). Average traded value also increased by 8 percent to reach US$ 79 million as against US$ 72.8 million.

Stocks that contributed significantly to the volumes include POWER, HASCOL, TRG, UNITY and JSCL, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include ANL (+5 points), BAHL (+4 points), FCEPL (+4 points), MTL (+4 points) and AGP (+4 points). Stocks that contributed negatively include OGDC (-45 points), HBL (-38 points), HUBC (-38 points), TRG (-35 points) and PPL (-32 points).

KARACHI: The market may move next week with major concerns of investors related to political uncertainty in the country and upcoming review of Financial Action Task Force (FATF).

However, analysts at Arif Habib Limited said that the market to remain green due to: Higher interest of local individuals in the market; expectation of better results especially for Cements, OMCs, E&Ps, Autos, Textile, Technology, Steel, Chemicals, and Consumer Goods; improvement on macro-economic front amid strengthening PKR/USD parity; and Coronavirus daily infection ratio continuing to remain low.

On the other hand, upcoming key announcements like Automobile sales data (released by PAMA) might attract investors’ interest in automobile sector.

However, key concerns remain: FATF outcome which is expected this month; Higher current account deficit expected for September 2020; Political uncertainty; and Increase in gas and electricity tariffs.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.4x (2021) compared to Asia Pac regional average of 14.0x while offering a dividend yield of around 6.2 percent versus 2.7 percent offered by the region.

This week trading commenced on a negative note due to i) Release of CPI by Pakistan Bureau of Statistics at 9.04 percent which was higher than market consensus, Redemption in mutual funds, Political noise on account of opposition parties’ alliance under the banner of Pakistan Democratic Movement (PDM), Increase in Trade deficit by 37 percent MoM to USD 2.39 billion in September 2020, and Pressure on global equities.

On Tuesday, negative performance remained short lived attributable to international oil prices (WTI) increasing by 5 percent DoD (benefitting E&P scrips) and robust cement dispatches which improved investors sentiments in cyclical sectors.

As a result, the KSE-100 index closed at 40,798 points, up by 728 points or 1.82 percent WoW.

Contribution to the upside was led by i) Cements (164 points), ii) Commercial Banks (127 points), iii) Oil and Gas Exploration Companies (94 points), iv) Oil and Gas Marketing Companies (76 points), and v) Textile Composite (61 points). Scrip-wise major gainers were HBL (86 points), OGDC (71 points), PSO (66 points), UBL (65 points), and LUCK (45 points). Whereas, scrip-wise major losers were COLG (32 points), BAHL (31 points) KEL (21 points), NBP (15 points) and PAKT (13 points).

Foreigners offloaded stocks worth of USD 7.45 million compared to a net sell of USD 8.25 million last week. Major selling was witnessed in Commercial Banks (USD 2.48 million) and E&P (USD 2.15 million). On the local front, buying was reported by Banks / DFIs (USD 7.14 million) followed by Insurance Companies (USD 6.63 million). Average volumes arrived at 417 million shares (up by 7 percent WoW) while average value traded settled at USD 81 million (down by 2 percent WoW).

KARACHI: The stock market gained 445 points on Friday as positive sentiments prevailed during the trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,798 points as against 40,354 points showing an increase of 445 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today, and after dipping 46 points earlier in the session, the index rebounded with the same vigor as observed in the past 2 sessions.

Overall, the Index posted an increase of 2230 points since the recent bottom touched on October 6, 2020. Banking and E&P sectors performed well on the back of quarterly earnings as well as an increase in international crude oil prices.

Among scrips, HASCOL led the volumes with 53.9 million shares, followed by UNITY (34.9 million) and TRG (21.4 million).

Sectors contributing to the performance include Banks (+136 points), E&P (+88 points), Power (+44 points), Textile (+35 points), Autos (+35 points).

Volumes declined from 476.8 million shares to 358.8 million shares (-25 percent DoD). Average traded value also declined by 24 percent to reach US$ 72.8 million as against US$ 96.2 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, TRG, BOP and WTL, which formed 39 percent of total volumes.

Stocks that contributed positively to the index include HBL (+64 points), HUBC (+47 points), OGDC (+31 points), PPL (+29 points) and TRG (+27 points). Stocks that contributed negatively include PAKT (-14 points), HASCOL (-12 points), KEL (-5 points), NESTLE (-5 points) and ABOT (-4 points).

KARACHI: The stock market rebounded on Wednesday and gained 723 points as significant buying activities seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,850 points as against 39,127 points showing an increase of 723 points.

Analysts at Arif Habib Limited said that the market finally made a positive move today, which was jittery in the beginning but solidified by mid-day to post a total gain of 793 points and closing the index +723 points.

Buying activity was observed across the board but had major impact on Cement sector, especially DGKC and LUCK. SBP’s notification to transfer Federal government related deposits in part from commercial banking system to SBP caused selling pressure in BOP and NBP.

A number of mid-cap stocks (usually traded in high volumes) like UNITY, TRG and HASCOL traded at and near upper circuits in the later part of the session.

The rebound in Index is among other reasons also attributed to adjustment / settlement of CGT lately demanded by NCCPL from Investors which had negative impact on investor sentiment. Among scrips, HASCOL topped the volumes with 59.7 million shares, followed by UNITY (34.5 million) and TRG (23.9 million).

Sectors contributing to the performance include Cement (+133 points), Pharma (+74 points), O&GMCs (+66 points), Technology (+65 points) and Banks (+58 points).

Volumes increased from 406 million shares to 432.0 million shares (+6 percent DoD). Average traded value also increased by 9 percent to reach US$ 82.5 million as against US$ 75.4 million.

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

Stocks that contributed positively to the index include LUCK (+46 points), SEARL (+39 points), TRG (+32 points), ENGRO (+32 points) and MCB (+27 points). Stocks that contributed negatively include NBP (-16 points), PMPK (-7 points), HGFA (-4 points), FFC (-4 points) and HMB (-3 points).

KARACHI: The stock market posted a gain of 55 points on Tuesday, recovering from a significant fall earlier in the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 39,127 points, up from 39,072 points, marking an increase of 55 points.

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