The stock market witnessed a significant downturn on Monday, with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) plunging by 960 points amid mounting political uncertainty following the arrest of an opposition leader.
(more…)Tag: KSE-100
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Stock market sheds 105 points in range bound trading
KARACHI: The stock market fell by 105 points on Friday as the market witnessed range bound trading and selling pressure.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,701 points as against 41,806 points showing a decline of 105 points.
Analysts at Arif Habib Limited said that the last day of the rollover week replicated what was witnessed for the good part of the outgoing week, i.e range bound performance and selling pressure.
E&P, Cement and banking sector stocks contributed to the downside in Index, whereby OGDC and PPL saw selling pressure in Market on Close (MOC) session.
Cement sector stocks sustained selling pressure due to apprehensions on Competition Commission’s raid on APCMA. O&GMCs led the volume with 64.1 million shares, followed by Vansapati (47.5 million) and Refinery (43.6 million). Among scrips, HASCOL topped the volumes with 57.4 million shares, followed by UNITY (47.5 million) and BYBCO (28.4 million).
Sectors contributing to the performance include Cement (-85 points), Technology (-21 points), Insurance (-17 points), Power (+16 points), O&GMCs (+15 points).
Volumes almost remained the same at 435.0 million shares. Average traded value increased by 2 percent to reach US$ 93.0 million as against US$ 91.1 million.
Stocks that contributed significantly to the volumes include HASCOL, UNITY, BYCO, TRG and PIBTL, which formed 40 percent of total volumes.
Stocks that contributed positively to the index include HBL (+30 points), COLG (+21 points), BYCO (+12 points), HASCOL (+11 points) and KAPCO (+11 points). Stocks that contributed negatively include LUCK (-39 points), UBL (-22 points), TRG (-22 points), DGKC (-16 points) and MUREB (-14 points).
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Index slips by 70 points amid heavy selling
KARACHI: The stock market fell by 70 points on Thursday as the market witnessed heavy selling during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,806 points as against 41,876 points showing a decline of 70 points.
Analysts at Arif Habib Limited said that the market had a field day bearing heavy selling pressure during the session, particularly on Cement, E&P, and Banking sector stocks that brought the index down by 459 points.
Recovery set in by mid-day, which brought the index level back up and closed the session -70 points.
Settlement of rollover trades, apprehensions on rising Corona related cases as well as weak investor sentiment in international markets caused local investors to stay cautious as well.
Cement sector registered trading volumes of 53.5 million shares, followed by Power (49.3 million) and Technology (43.3 million). Among scrips, KEL topped the volumes with 40 million shares, followed by UNITY (33.1 million) and HASCOL (32.1 million).
Sectors contributing to the performance include E&P (-86 points), Food (-20 points), Power (-16 points), Fertilizer (+69 points) and Cement (+18 points).
Volumes dropped from 582.8 million shares to 434.9 million shares (-25 percent DoD). Average traded value however increased by 17 percent to reach US$ 91 million as against US$ 77.6 million.
Stocks that contributed significantly to the volumes include KEL, UNITY, HASCOL, POWER and PIBTL, which formed 33 percent of total volumes.
Stocks that contributed positively to the index include ENGRO (+36 points), EFERT (+24 points), FFC (+15 points), LUCK (+15 points) and PSO (+14 points). Stocks that contributed negatively include OGDC (-48 points), PPL (-33 points), TRG (-20 points), NESTLE (-14 points) and BAFL (-11 points).
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Share market inches up in narrow range trading
KARACHI: The share market gained 47 points on Wednesday while trading in narrow band, analysts said.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,876 points as against 41,828 points showing an increase of 47 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range, moving between -73 points and +194 points during the session closing 47 points.
While E&P sector saw retreat in OGDC and PPL, which has been the case since last several sessions on the back of weak crude oil prices, Banking sector saw renewed buying activity, especially in HBL and BOP.
Among OMCs, PSO and HASCOL performed well today, besides Cement sector that showed positive activity in anticipation of healthy dispatches in the ongoing month.
Post credit of UNITY right shares in investor accounts, the stock price dipped but recovered by day end. Banking sector saw high volumes of 194.2 million shares, followed by Vanaspati (51.8 million) and Technology (47.1 million). Among scrips, SILK registered trading volume of 167.4 million shares, followed by UNITY (51.7 million) and JSCL (36.2 million).
Sectors contributing to the performance include E&P (-43 points), Textile (+30 points), Inv Banks (+19 points), O&GMCs (+17 points), Chemical (+12 points) and Fertilizer (+11 points).
Volumes increased further from 441.3 million shares to 582.8m shares (+32 percent DoD). Average traded value dropped by 1 percent to reach US$ 77.5 million as against US$ 77.9 million.
Stocks that contributed significantly to the volumes include SILK, UNITY, JSCL, PTC and HASCOL, which formed 54 percent of total volumes.
Stocks that contributed positively to the index include DAWH (+23 points), COLG (+16 points), ILP (+13 points), JLICL (+7 points) and BOP (+7 points). Stocks that contributed negatively include OGDC (-17 points), PPL (-12 points), LUCK (-11 points), POL (-8 points) and UBL (-8 points).
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Share market slips by 345 points on selling pressure
KARACHI: The share market fell by 345 points on Tuesday as selling pressure witnessed across the board during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,829 points as against 42,174 points showing a decline of 345 points.
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Stock market ends down by 331 points over political noise
KARACHI: The stock market fell by 331 points on Monday owing to political noise after the All Parties Conference (APC).
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,174 points from last Friday’s closing of 42,505 points, showing a decline of 331 points.
Analysts at Topline Securities said that the bears took control of today’s session as the KSE 100 index tanked 331 points to close the day at 42,174 level.
Investors remained cautious due to the roll-over week, political noise owing to the APC held over the weekend and the Monetary policy which is expected later in the evening.
Major negative contributors which dragged the index lower were OGDC, ENGRO and UBL cumulatively denting the benchmark KSE100 Index by 70 points.
Trading volume and value witnessed a decline of 16 percent each on DoD basis to 433 million shares and Rs11.3 billion respectively. ASL was the volume leader with 58.7 million shares.
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Weekly Review: MPS to move stock market
KARACHI: The State Bank of Pakistan (SBP) is scheduled to issue monetary policy statement (MPS) on September 21, 2020 which will move the stock market during the next week.
Analysts at Arif Habib Limited said that with SBP’s Monetary Policy Committee (MPC) expected to maintain a status quo stance, they expect the monetary policy announcement on Monday (September 21, 2020) to be a non-event for the market.
In addition, expectations of PM Khan delivering another fiery speech at the UN General Assembly on September 25, 2020, fortifying Pakistan on the global map, should also aid sentiments.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2021) compared to Asia Pac regional average of 14.0x and while offering DY of ~5.9 percent versus ~2.7 percent offered by the region.
Uncertainty over approval of FATF bills in the Parliament together with pressure on International oil prices during earlier part of the week perturbed sentiment at the domestic equity bourse.
In addition, investors adopted a hibernation policy prior to next week’s Monetary Policy meeting (marking end of a 3 month hiatus by the SBP), which kept the volumes dry. Thus, the market closed down by 26 points WoW / -0.1 percent WoW to 42,505 level.
Sector-wise negative contributions came from i) Insurance (47 points), ii) Commercial banks (38 points), iii) Power generation and distribution (37 points), iv) Tobacco (28 points), and v) Textile composite (25 points). Whereas positive sectoral contributions were led by i) E&P (61 points), ii) Chemical (25 points), and iii) Food and personal care products (21 points). Scrip-wise main laggards were: TRG (27 points), PPL (26 points), PAKT (25 points), KAPCO (25 points) and HBL (24 points).
Foreigners offloaded stocks worth of USD 1.69 million compared to a net sell of USD 4.40 million last week. Major selling was witnessed in Commercial Banks (USD 2.41 million) and Food and personal Care Products (USD 2.32 million). On the local front, buying was reported by Insurance Companies (USD 10.56 million) followed by Mutual Funds (USD 3.56 million). That said, Average volumes settled at 537 million shares (down by a 28 percent WoW). While average value traded clocked-in at USD 93 million (depicting a decline of by 35 percent WoW).
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Share market gains by 170 points on positive sentiments ahead of MPS announcement
KARACHI: The share market witnessed a robust increase of 170 points on Friday, propelled by the rebalancing of international stock markets and improved sentiments ahead of the forthcoming Monetary Policy Statement (MPS).
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Share market gains 53 points amid selling pressure
KARACHI: The share market gained 53 points on Thursday despite selling pressure seen in the market during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,334 points as against 42,282 points showing an increase of 53 points.
Analysts at Arif Habib Limited said that the market opened on a positive note with +193 points and added a total of 350 points on the index.
Selling pressure eroded most of the gains by the end of session, closing the index +53 points. Financial results of DGKC helped the stock post price gains.
Among technology stocks, PTC hit upper circuit whereas Chemical sector helped EPCL touch recent times high. Technology sector topped the volumes with 108.6 million shares, followed by Power (47.5 million) and Vanaspati (45.2 million). Among scrips, KEL led the table with 70.5 million shares, followed by HASCOL (37.4 million) and DCL (28.1 million).
Sectors contributing to the performance include Chemical (+23 points), Technology (+17 points), E&P (+14 points), Insurance (-15 points), Pharma (-7 points).
Volumes increased from 489.6 million shares to 508.7 million shares (+4 percent DoD). Average traded value also increased by 3 percent to reach US$ 90.8 million as against US$ 87.9 million.
Stocks that contributed significantly to the volumes include PTC, UNITY, HASCOL, FFL and PIBTL, which formed 42 percent of total volumes.
Stocks that contributed positively to the index include EPCL (+20 points), POL (+14 points), PTC (+13 points), PSO (+13 points) and ENGRO (+12 points). Stocks that contributed negatively include FFC (-12 points), AICL (-9 points), JLICL (-8 points), NESTLE (-6 points) and ABL (-5 points).
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Stock market witnesses selling pressure over FATF bill
KARACHI: The stock market fell by 64 points on Wednesday as investors’ sentiments shaken over FATF bill, which required parliamentary approval.
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