Tag: KSE-100

KARACHI: The stock market likely to stay range bound in coming week owing to ease in lockdown.

Analysts at Arif Habib Limited said that the market to remain range bound in the coming week.

With standard operating procedures in place, lockdown will be easing off next week, business community and economy will get a sigh of relief.

Whereas, given foreign reserves clocking-in at USD 18.8 billion, up by USD 292 million WoW, Pak Rupee is expected to remain stable against the greenback (which is a major positive for foreign investment).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.0x (2020) compared to Asia Pac regional average of 10.2x and while offering DY of ~8.4 percent versus ~3.1 percent offered by the region.

Market commenced on a negative note this week, with investors resorting to profit taking.

With a massive fall in exports by 54 percent YoY in last month followed by a fall in cement dispatches by 24 percent YoY in April 2020 amid lockdown weak sentiment prevailed.

Furthermore, IMF’s prediction regarding total foreign reserves depletion by USD 1.9 billion in the coming 15 months added fuel to this decline.

Moreover, 12 month T Bill cut off yield climbed up by 28 basis points. Meanwhile, Federal Govt.’s decision to ease off lockdown from Saturday and onwards was not received well given alarming jump in COVID-19 cases on day-on-day basis.

Whereas, announcement of reduction in RLNG prices for the month of May 2020 cushioned the dip.

The KSE-100 index settled at 33,268 points, shedding 884 points (down by 2.5 percent) WoW.

Sector-wise negative contributions came from i) Commercial Banks (231 points), ii) Cement (211 points), iii) Power Generation & Distribution (156 points), iv) Fertilizer (148 points) and Oil & Gas Exploration Companies (99 points).

Meanwhile, sector-wise positive contribution came from i) Oil and Gas Marketing Companies (76 points), Food & Personal Care Products (34 points) and Technology & Communication (21 points). Scrip-wise negative contributions were led by HUBC (126 points), LUCK (102 points), HBL (82 points), FFC (76 points) and MCB (74 points).

Foreign selling continued this week clocking-in at USD 17.8 million compared to a net sell of USD 11.6 million last week.

Selling was witnessed in Exploration & Production (USD 7.1 million) and Commercial Banks (USD 5.1 million).

On the domestic front, major buying was reported by Individuals (USD 20.3 million) and Companies (USD 5.7 million).

Average Volumes settled at 190 million shares (up by 7 percent WoW) while average value traded clocked-in at USD 46 million (down by 5 percent WoW).

KARACHI: The share market fell by 424 points on Thursday as profit taking witnessed which resulted in selling pressure during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,304 points as against 33,728 points showing a decline of 424 points.

Analysts at Arif Habib Limited said that the market opened on a negative note today and could only manage to pull back into green for a brief time, before plunging due to selling pressure.

Regardless of what the international crude prices are trading at, local E&P and O&GMCs which responded positively to the ascend in international crude prices last week, remained oblivious to further price gains.

Profit booking is clearly on investors mind, who have so far been cashing out from Fertilizer, Cement, E&P and O&GMCs.

Banks, on the other hand, which have weathered the flow from foreign investors (possibly due to MSCI rebalancing), showed initial signs of recovery on the prospect of expectation of status quo in the upcoming monetary policy.

This is reflected by the yield change in secondary market for 10yr PIBs, which marked a low of 7.64 percent on April 17, 2020 and have since then recovered to 8.23 percent today, indicating that there may be a status quo on policy rate.

Cement sector led the volumes with 41.8 million shares, followed by Banks (19.1 million) and O&GMCs (18.9 million). Among scrips, HASCOL topped with 16.1 million shares, followed by MLCF (12.6 million) and DGKC (8.2 million).

Sectors contributing to the performance include E&P (-127 points), Cement (-56 points), Power (-54 points), Fertilizer (-41 points) and O&GMCs (-39 points).

Volumes declined from 208.9 million shares to 175.8 million shares (-16 percent DoD). Average traded value on the other increase by 4 percent to reach US$ 46.8 million as against US$ 45.1 million.

Stocks that contributed significantly to the volumes include HASCOL, MLCF, DGKC, UNITY and FCCL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include UBL (+28 points), HBL (+24 points), EFUG (+11 points), SYS (+8 points) and MTL (+5 points). Stocks that contributed negatively include OGDC (-51 points), PPL (-48 points), HUBC (-44 points), LUCK (-34 points), and BAHL (-28 points).

KARACHI: The share market fell by 265 points on Wednesday owing to selling pressure in major scrip witnessed during the day.

The Index closed at 33,728 points as against 33,993 points showing a decline of 265 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +114 points but could not sustain selling pressure, which brought the index down in negative territory and witnessed a decline of 317 points.

The index made some recovery by the end of session and closed -264 points.

Banks, Cement and E&P stocks weathered selling pressure regardless of international crude oil prices.

Fertilizer stocks traded no different than the rest and saw decline in stock prices.

Among Banks, HBL saw low prices due to MSCI rebalancing and concerns among investors about a possible exit.

Technology stocks managed to post the highest volumes with 28.9 million shares, followed by O&GMCs (28.2 million) and Cement (24.1 million).

Among scrips, HASCOL topped with 23.8 million shares, followed by UNITY (20.4 million) and TRG (14.5 million).

Sectors contributing to the performance include Banks (-99 points), Cement (-53 points), E&P (-39 points), Fertilizer (-34 points), Power (-34 points).

Volumes declined from 261 million shares to 208.9 million shares (-20 percent DoD). Average traded value also declined by 22 percent to reach US$ 45.1 million as against US$ 57.6 million.

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

Stocks that contributed positively to the index include NESTLE (+9 points), TRG (+8 points), BAFL (+6 points), SHEL (+6 points) and ANL (+6 points).

Stocks that contributed negatively include MCB (-56 points), HBL (-42 points), HUBC (-36 points), LUCK (-24 points), and FFC (-18 points).

KARACHI: The stock market gained 76 points on Tuesday amid profit taking during the day.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 33,993 points as against 33,917 points showing an increase of 76 points.

Analysts at Arif Habib Limited said that courtesy of crudes’ performance in the international market, KSE-100 posted decent gains during the session, realizing +469 points and closing the session +76 points.

E&P and OMCs remained in the limelight but also saw profit booking near yesterday’s levels and caused OGDC and PPL to settle low.

Cement and Fertilizer sectors saw further weakness, whereas Banks also contributed to downside in Index. Cement sector topped the chart with 58.4 million shares, followed by O&GMCs (38.7 million) and Technology (26.9 million). Among scrips, HASCOL realized trading volumes of 33.8 million shares, followed by UNITY (25.4 million) and FCCL (17.8 million).

Sectors contributing to the performance include E&P (+83 points), O&GMCs (+49 points), Food (+13 points), Cement (-39 points), Banks (-23 points).

Volumes increased from 216.5 million shares to 261 million shares (+21 percent DoD). Average traded value declined by 1 percent to reach US$ 57.6 million as against US$ 58.4 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, FCCL, MLCF and PAEL, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include PPL (+34 points), ENGRO (+34 points), OGDC (+27 points), PSO (+23 points) and POL (+18 points). Stocks that contributed negatively include HBL (-33 points), FFC (-29 points), COLG (-19 points), EFERT (-10 points), and KTML (-10 points).

KARACHI: The stock market witnessed decline of 195 points on Monday amid profit taking during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,916 points as against 34,112 points showing a decline of 195 points.

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The Karachi Stock Exchange (KSE) experienced an extraordinary surge in April 2020, recording an impressive increase of 4,880 points. This translates into a return of +16.7 percent Month-on-Month (MoM) and +21.5 percent in USD terms, marking the best-performing month since March 2009.

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KARACHI: The share market is likely to continue gaining momentum during the next week owing to positive reports on economic front.

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KARACHI: The share market made sharp gain of 953 points on Thursday owing to expected rate cut and reports of ease in lockdown.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,112 points as against 33,159 points showing an increase of 953 points.

Analysts at Arif Habib Limited said that just before the long weekend, the market went north today with a jump of 1020 points during the session, closing +953 points, courtesy of rising crude oil prices, expectation of rate cut and relaxation in lockdown.

Activity was observed across the board, with major contribution from oil and gas stocks i.e. E&P, OMCs, with OGDC, PPL and POL hitting upper circuits and realizing high volume trades at that level.

Banking sector stocks remained relatively muted, whereas Cement, Fertilizer and Steel sectors made considerable stride forward.

Cement sector topped the chart with 53.6 million shares, followed by O&GMCs (45 million) and Cable (28.1 million).

Among scrips, HASCOL ranked first with 37.6 million shares, followed by PAEL (26.9 million) and MLCF (25.8 million).

Sectors contributing to the performance include E&P (+308 points), Banks (+137 points), Power (+94 points), Fertilizer (+87 points) and O&GMCs (+84 points).

Volumes increased from 140.5 million shares to 291.5 million shares (+107 percent DoD). Average traded value also increased by 61 percent to reach US$ 76.7 million as against US$ 47.6 million.

Stocks that contributed significantly to the volumes include HASCOL, PAEL, MLCF, PPL and UNITY, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+105 points), PPL (+93 points), HUBC (+82 points), POL (+64 points) and MCB (+50 points). Stocks that contributed negatively include PAKT (-12 points), DAWH (-11 points), PSEL (-9 points), SYS (-3 points), and PMPK (-2 points).

KARACHI: The stock market gained 605 points on Wednesday owing to positive sentiments prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,159 points as against 32,553 points showing an increase of 605 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +211 points at the opening bell.

The benchmark index gained 605 points during the session and closed at session’s high.

Oil stocks got traction from positive trend in international crude oil price (WTI) that increased by 14 percent and helped E&P stocks to post price gains.

Cement sector maintained the momentum throughout the day, except for realizing profit booking by the end of session, showing signs of regression in DGKC.

Banking sector stocks also stay muted amid low volumes, due to prospects of rate cut.

Cement sector posted highest trading volumes with 43.9 million shares, followed by O&GMCs (11.8 million) and E&P (10.8 million).

Among scrips, MLCF topped the volumes with 18.4 million shares, followed by HASCOL (8.2 million) and DGKC (7.3 million).

Sectors contributing to the performance include E&P (+177 points), Power (+121 points), Fertilizer (+85 points), Cement (+67 points), Inv Banks (+33 points) and Banks (-22 points).

Volumes declined from 157.9 million shares to 140.5 million shares (-11 percent DoD). Average traded value, on the contrary, increased by 31 percent to reach US$ 47.6 million as against US$ 36.3 million.

Stocks that contributed significantly to the volumes include MLCF, HASCOL, DGKC, EFERT and PIOC, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+116 points), OGDC (+61 points), POL (+50 points), FFC (+45 points) and LUCK (+39 points).

Stocks that contributed negatively include BAHL (-35 points), HBL (-12 points), NESTLE (-8 points), HMB (-4 points), and PSO (-2 points).