Tag: KSE-100

KARACHI: The fears over Coronavirus and its impact on the economy, as well as the continuation in pressure on global equities is likely to keep market performance subdued.

That said, valuations across the board particularly in blue-chips have reached attractive levels, analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2020) compared to Asia Pac regional average of 11.6x and while offering DY of ~7.2 percent versus ~2.8 percent offered by the region.

A significantly lower inflationary reading for February 2020 (12.4 percent vs 14.6 percent in Jan’20) provided respite to investors as expectations of a rate cut in the MPS this month set in, creating positive sentiment in cyclical sectors (Cement sector attracted buying).

However, with the total number of Coronavirus cases in Pakistan rising to 6, and with the continuous rise in cases outside China (close to 20,000 now), the trickle-down effect of a global-sell off in equities did create pressure in the index. However, the KSE-100 Index closed at 38,220 points, up 236 points WoW (+0.62 percent)

Sector-wise negative contributions came from i) Banks (388pts) led by expectations of a rate cut this month, ii) Power generation & Distribution (49pts) and iii) Miscellaneous (10pts).

Positive contributions came from Cement primarily (329pts). Scrip-wise negative contributions were led by HBL (119pts), UBL (71pts), and BAFL (54pts) while positive contributions were led by LUCK (113pts), and DGKC (51pts).

Foreign selling continued this week clocking-in at USD 16.7 million compared to a net sell of USD 22.5 million last week.

Selling was witnessed in Cement (USD 5.1 million) and E&P (USD 3.5 million). On the domestic front, major buying was reported by Mutual Funds (USD 15.4 million) and Companies (USD 11.1 million).

Average Volumes remained stable at 243 million shares while average value traded clocked-in at USD 65 million (up by 35 percent WoW).

KARACHI: The stock market plunged by 1162 points on Friday owing to massive selling activities during the last trading day of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,220 as against 39,382 points showing the decline of 1162 points.

Analysts at Topline Securities said that spillover of the selloff in the global markets was observed at the local bourse as the index declined by 3 percent to close at 38,220 level.

Global markets declined as fear of coronavirus resurfaced after multiple new cases of the lethal virus were reported in leading world economies.

OPEC’s vow to cut down oil production by 1.5 million barrels a day failed to give support to the oil prices, as concerns over global demand and ambiguity on whether Russia will participate in production cut weighed down on the price.

As a result E&P sector lost -4.56 percent during the trading session. Banking sector too closed down -3.67 percent as investor’s factored in potential decline in policy rate in upcoming Monetary Policy statement. MLCF was today`s volume leader with 27 million shares.

KARACHI: The stock market gained 476 points on Thursday owing to positive sentiments prevailed after decline in cut-off yield of government papers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,382 points as against 38,906 points showing an increase of 476 points.

Analysts at Topline Securities said that in line with the international and regional markets, KSE 100 index marked decent comeback, as the index gained +1.2 percent to close at 39,382 level.

Decline in PIB yields in the range of 15-46 basis points in yesterday’s auction also provided stimulus to the market.

Despite positivity in the market, banking sector declined by 1 percent as speculations over the decline in policy rate in upcoming monetary policy committee meeting are doing rounds.

Investor confidence improved as traded volume and value went up by 82 percent and 80 percent respectively compared to last day. FCCL was today`s volume leader with 30 million shares.

KARACHI: The stock market ended down by 293 points on Wednesday owing as selling pressure gripped the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,906 points as against 39,200 points showing a decline of 293 points.

Analysts at Arif Habib Limited said that the market continued to slide with another draw down of 437 points during the session.

By the close of session, index recovered somewhat but ended negative 293 points from LDCP.

Other than Cement and Steel sector scrips, all the other sectors sustained losses.

News related to Naya Pakistan Housing Scheme, higher PSDP utilization and indication of relaxation from IMF on fiscal targets kept Investors’ interest alive, preferring cyclical stocks over index heavy weights like HBL, UBL, ENGRO, HUBC, FFC, OGDC and PPL. Oil & gas chain disregarded the hike in international crude prices and had muted interest from investors.

Cement sector remained in the limelight with 71.3 million shares, followed by Banks (23.1 million) and O&GMCs (21.7 million). Among scrips, MLCF realized trading volume of 23.4 million shares, followed by HASCOL (19.2 million) and BOP (15.9 million).

Sectors contributing to the performance include E&P (-107 points), Power (-53 points), Fertilizer (-45 points), O&GMCs (-26 points), Inv Banks (-20 points) and Cement (+38 points).

Volumes declined from 225.3 million shares to 186.8 million shares (-17 percent DoD). Average traded value also declined by 16 percent to reach US$ 47.8 million as against US$ 56.8 million.

Stocks that contributed significantly to the volumes include HASCOL, BOP, FCCL, PIOC and UNITY, which formed 45 percent of total volumes.

Stocks that contributed positively include MCB (+20 points), FFC (+20 points), COLG (+16 points), PAKT (+13 points) and UBL (+12 points). Stocks that contributed negatively include ENGRO (-46 points), HUBC (-45 points), OGDC (-43 points), PPL (-33 points), and MEBL (-20 points).

KARACHI: The equity market fell by 97 points on Tuesday after investors preferred profit taking.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,200 points as against 39,296 points showing a decline of 97 points.

Analysts at Arif Habib Limited said that the market continued the ascent realizing a gain of +570 points during the session, but felt the need to consolidate and book profits, which saw index sliding back by -239 points.

Cement sector has so far shown the strength, which resisted last week and even made a strong comeback when the despair ended.

Reports of Cement manufacturers meeting in the coming days to resolve the issues kept the interest alive among investors.

On the other hand, news of FFC cutting back the price of Urea concerned investors to ditch fertilizer stocks and consider safe havens such as Cyclicals and otherwise Oil & gas chain.

Cement sector again led the traded volumes with 63.2 million shares, followed by O&GMCs (26.5 million) and Technology (22.7 million).

Among scrips, MLCF topped the chart with 20.9 million shares, followed by UNITY (20.5 million) and HASCOL (19.2 million).

Sectors contributing to the performance include Fertilizer (-101 points), Power (-42 points), Banks (-32 points), E&P (+52 points) and Technology (+23 points).

Volumes increased from 215.3 million shares to 225.2 million shares (+5 percent DoD). Average traded value, however, dipped by 3 percent to reach US$ 56.7 million as against US$ 58.7 million.

Stocks that contributed significantly to the volumes include MLCF, UNITY, HASCOL, TRG and FCCL, which formed 38 percent of total volumes.

Stocks that contributed positively include PPL (+23 points), OGDC (+18 points), TRG (+15 points), HASCOL (+15 points) and POL (+14 points). Stocks that contributed negatively include FFC (-44 points), ENGRO (-40 points), HUBC (-37 points), LUCK (-32 points), and EFERT (-17 points).

KARACHI: The stock market surged by 1,313 points on Monday owing to slowing down in inflation growth. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,296 points as against 37,984 points showing an increase of 1313 points.

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KARACHI: Coronavirus fear to haunt the local bourses during next week as it has already dented the market badly in the outgoing week.

Analysts at Arif Habib Limited said that with the extension of global panic over coronavirus and its spill-over on markets, currencies and commodities alike, pressure on the benchmark KSE-100 index to sustain.

Albeit, topsy-turvy trend of the market on last day of the week suggests that recent correction has opened up valuations and select sectors may come under limelight.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.6x (2020) compared to Asia Pac regional average of 11.4x and while offering DY of ~7.2 percent versus ~2.9 percent offered by the region.

Given the outbreak of Coronavirus across 40-odd countries with no signs of containment in sight, global equities and commodities (such as Oil) were quick to witness a rout.

Moreover, Moody’s report signaling an adverse impact on local Banks post Pakistan’s inclusion in the FATF’s Grey List, further eroded sentiments.

That said, Pakistan and IMF’s staff-level agreement on the second review under the $6 billion Extended Fund Facility (EFF) provided respite to the market.

The local equity bourse shed 2,266points (5.6 percent WoW) to close at 37,984 points, depicting the biggest weekly decline since 16th Jun 2017 in points.

Sector-wise negative contributions came from i) E&P (575 points) led by weakness in International oil prices, ii) Commercial Banks (531 points), iii) Fertilizer (278 points), iv) Power Generation & Distribution (233 points), and v) Oil and Gas Marketing Companies (191 points). Scrip-wise negative contributions were led by PPL (256 points), OGDC (194 points), HUBC (170 points), HBL (152 points), and ENGRO (103 points).

Foreign selling continued this week clocking-in at USD 22.5mn compared to a net sell of USD 8.6 million last week.

Selling was witnessed in Commercial Banks (USD 7.6 million) and E&P (USD 4.8 million). On the domestic front, major buying was reported by Insurance Companies (USD 25.3 million) and Banks / DFIs (USD 7.8 million).

Average Volumes settled at 174 million shares (up by 63 percent WoW) while average value traded clocked-in at USD 48 million (up by 54 percent WoW).

KARACHI: The stock market fell by 104 points on Friday amid reports of Pakistan and International Monetary Fund (IMF) reached on a staff-level agreement.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 37,984 points as against 38,087 points showing a decline of 104 points.

Analysts at Arif Habib Limited said that the market continued the path to recovery after melting yesterday and then later staging a comeback.

The index went up by 220 points and also saw -329 points, closing the session -104 points. Cement and Steel sectors remained the outperformers, with further price gains following yesterday’s performance. Banking sector scrips generally faced selling pressure with NBP bearing lower circuit, whereas BOP could post only nominal gain.

Continuous slide in international crude prices kept the E&P, OMCs and Refinery sector under pressure.

Cement sector topped the volumes with 48.3 million shares, followed by Banks (26.1 million) and O&GMCs (23.4 million). Among scrips, HASCOL realized 18.5 million shares, followed by MLCF (17.6 million) and UNITY (14 million).

Sectors contributing to the performance include E&P (-130 points), Banks (-90 points), Power (-32 points), O&GMCs (-16 points), Cement (+73 points), Fertilizer (+54 points), Pharma (+18 points).

Volumes increased from 147.9 million shares to 201.6 million shares (+36 percent DoD). Average traded value also increased by 23 percent to reach US$ 55.7 million as against US$ 45.1 million.

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

Stocks that contributed positively include ENGRO (+39 points), LUCK (+34 points), MEBL (+29 points), FFC (+18 points) and SEARL (+17 points). Stocks that contributed negatively include HBL (-46 points), PPL (-45 points), OGDC (-41 points), MCB (-35 points), and POL (-31 points).

KARACHI: The stock market ended by a decline of 251 points on Thursday after making recovery from significant fall earlier in the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,087 points as against 38,338 points showing a decline of 251 points.

Analysts at Arif Habib Limited said that the market made a strong comeback after losing 1420 points earlier in the session.

The recovery extended into MoC and closed the session -251 points. Concerns relating to Coronoa were on investors’ minds that caused the selling pressure, which was also aggravated by Moody’s report on banking sector, relaying negativity on the banking sector.

Recovery however, also came in banking sector, followed by Cement which has recently been showing decent progress in terms of dispatches. Cement sector led the volumes with 39.4 million shares, followed by Vanaspati (29.1 million) and O&GMCs (28.8 million).

Among scrips, UNITY topped with 29.1 million shares, followed by HASCOL (17.5 million) and MLCF (15.1 million).

Sectors contributing to the performance include E&P (-131 points), O&GMCs (-50 points), Food (-42 points), Autos (-25 points), Insurance (-25 points), Banks (+61 points) and Cement (-27 points).

Volumes increased from 147.9 million shares to 248.9 million shares (+68 percent DoD). Average traded value also increased by 44 percent to reach US$ 64.7mn as against US$ 45.1 million.

Stocks that contributed significantly to the volumes include UNITY, HASCOL, MLCF, BOP and TRG, which formed 35 percent of total volumes.

Stocks that contributed positively include UBL (+62 points), HBL (+30 points), MCB (+21 points), LUCK (+16 points) and ENGRO (+16 points).

Stocks that contributed negatively include PPL (-55 points), OGDC (-46 points), POL (-31 points), BAHL (-25 points), and NESTLE (-24 points).

KARACHI: The stock market fell by 1,051 points in early trading on Thursday after coronavirus cases confirmed by the government authorities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is current trading (10:30AM) at 37,287 points losing around 1051 points.

The coronavirus haunted the stock market since start of this week. Today the market fell sharply after two cases of coronavirus were confirmed by the health ministry last night.