Tag: KSE-100

KARACHI: The stock market likely to move with the news flows related to budget 2020/2021 which is scheduled to announce on June 12, 2020.

Analysts at Arif Habib Limited said that with Federal Budget announcement scheduled for June 12, 2020, the market is expected to track budget related news flow.

Whereas market performance for June 2020 remains critical as during first eleven months of current fiscal year, the index has delivered a return of +0.09 percent in Pak Rupee terms.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2020) compared to Asia Pac regional average of 12.6x and while offering DY of ~8.2 percent versus ~2.8 percent offered by the region.

The market opened on a positive note this week, welcoming further ease in lockdown and opening up of several businesses with Standard Operating Procedures (SOPs) in place.

Moreover, rising oil prices, with revival of economic activity internationally, kept the E&P scrips under limelight. Besides this, inflation for the month of May 2020 also declined to 8.2 percent, in line with expectations while improvement in exports on a MoM basis also relieved investors.

While anticipation of relief reforms in Budget 2020-21 also kept the sentiment alive.

However, rapid spread of COVID-19 cases and decline in foreign reserves by USD 1.67 billion being reflected in the Pak Rupee-USD parity (depreciation to 163/USD this past week) prevented the market from outperforming.

The market settled at 34,350 points, gaining 419 points (up by 1.2 percent) WoW.

Sector-wise positive contributions came from i) Commercial Banks (401 points), ii) Oil & Gas Exploration Companies (78 points), iii) Automobile Parts & Accessories (32 points), iv) Textile Composite (25 points) and Pharmaceuticals (19 points).

However, sector-wise negative contribution came from i) Fertilizer (53 points), ii) Power Generation & Distribution (30 points) and Insurance (25 points). Scrip-wise positive contributions were led by MCB (110 points), UBL (100 points), POL (66 points), HBL (66 points) and BAHL (54 points).

Foreign selling continued this week clocking-in at USD 15.3 million compared to a net sell of USD 2.4 million last week. Selling was witnessed in Commercial Banks (USD 5.0mn) and Textile Composite (USD 4.4 million). On the domestic front, major buying was reported by Companies (USD 7.4 million) and Mutual Funds (USD 6.6 million).

Average Volumes settled at 157 million shares (down by 27 percent WoW) while average value traded clocked-in at USD 39 million (down by 27 percent WoW).

KARACHI: The stock market gained 231 points on Friday while witnessing range bound activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,350 points as against 34,120 points showing an increase of +231 points.

Analysts at Arif Habib Limited said that the market traded range bound for the most part of the session but saw gaining volumes and points by the end that reflects an increase of 231 points.

Cement, Fertilizer and Pharma stocks showed signs of recovery. Some of the scrips in Pharma sector hit upper circuit like AGP and FEROZ. Banking sector stocks showed selling pressure amid low trading volumes.

Cement sector led the volumes with 16.1 million shares, followed by Technology (10.8 million) and Inv Banks (7.5 million). Among scrips, MLCF topped the chart with 6.6 million shares, followed by JSCL (5.2 million) and TRG (4.3 million).

Sectors contributing to the performance include Cement (+54 points), E&P (+50 points), Fertilizer (+46 points), Pharma (+45 points), Textile (+12 points) and Banks (-13 points).

Volumes declined from 143.6 million shares to 89.1 million shares (-38 percent DoD). Average traded value also declined by 29 percent to reach US$ 24.3 million as against US$ 33.9 million.

Stocks that contributed significantly to the volumes include MLCF, JSCL, TRG, UNITY and MACFL, which formed 27 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+41 points), POL (+21 points), LUCK (+15 points), SEARL (+13 points) and MARI (+13 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-5 points), PSO (-3 points), SNGP (-3 points), and KAPCO (-2 points).

KARACHI: The equity market ended down by 282 points on Thursday owing to selling pressure seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,119 points as against 34,401 points showing a decline of 282 points.

Analysts at Arif Habib Limited said that the market saw selling pressure today whereby E&P and Banking sectors contributed towards the decline besides other sectors, which were already adjusting downwards for the past couple of sessions, namely Cement, Fertilizer, OMCs and Pharmaceuticals.

Overall, the Index slid by 311 points during the session after posting a small gain of 9 points early on, closing the Index -282 points.

Yields of T-bill and 10y PIB increased significantly which diminishes the prospect of further rate cut.

At the same time, lackluster participation from Mutual Funds, Banks and Insurance (and mostly on the sell side) has made current Index levels a hurdle, despite pre-budget timeframe.

International crude prices were also under pressure, which brought E&P stocks down as well. Technology sector topped the index with 18.1 million shares, followed by Power (15.8 million) and O&GMCs (13.6 million).

Among scrips, TRG led the volumes with 11.3 million shares, followed by UNITY (11.3 million) and HASCOL (8.1 million).

Sectors contributing to the performance include Banks (-85 points), E&P (-79 points), Power (-34 points), Cement (-28 points) and Food (-24 points).

Volumes increased from 129.9 million shares to 143.6 million shares (+10 percent DoD). Average traded value, on the contrary declined by 19 percent to reach US$ 33.9 million as against US$ 41.5 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, HASCOL, KAPCO and PAEL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include SNGP (+9 points), ANL (+8 points), ABOT (+7 points), PMPK (+7 points) and FFC (+5 points). Stocks that contributed negatively include OGDC (-34 points), HUBC (-31 points), PPL (-28 points), MCB (-27 points), and UBL (-24 points).

KARACHI: The stock market witnessed nominal decline of 7 points on Wednesday in narrow range trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,401 points as against 34,408 points showing a decline of 7 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today gaining +250 points during the session and retreating all gains by the end of session, closing -7 points.

Banking sector continued the ascent today, although profit booking was also witnessed.

Fertilizer sector fell back on the news of no decision by the Government for granting subsidy on Fertilizer products, which brought down the Fertilizer sector across the board.

Pharma, Cement and Steel Sectors largely remained red throughout the session. E&P sector benefited slightly from an increase in international crude oil prices, whereby OGDC and PPL showed price gains during the session.

Banking sector led the volumes again with 20.4 million shares, followed by Technology (18.6 million) and E&P (11.5 million). Among scrips, TRG realized trading volume of 7.7 million shares, followed by PAEL (7.4 million) and PPL (6.9 million).

Sectors contributing to the performance include Power (+21 points), E&P (+20 points), Textile (+15 points), Fertilizer (-31 points), Cement (-18 points), Pharma (-17 points).

Volumes declined from 221.8 million shares to 130.0 million shares (-42 percent DoD). Average traded value also declined by 21 percent to reach US$ 41.5 million as against US$ 52.2 million.

Stocks that contributed significantly to the volumes include TRG, PAEL, PPL, HASCOL and MLCF, which formed 25 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+22 points), BAFL (+15 points), POL (+13 points), PPL (+8 points) and PAKT (+8 points). Stocks that contributed negatively include ENGRO (-20 points), HBL (-18 points), DAWH (-13 points), NBP (-13 points), and AICL (-9 points).

KARACHI: The equity market gained 386 points on Tuesday as banking sector attracted attention of investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,408 points as against 34,022 points showing an increase of +386 points.

Analysts at Arif Habib Limited said that the market went up today on the back of banking sector that gained prominence post Eid.

Yesterday’s performance of Index also came largely from Banking sector and today’s continuation gave investors the confidence to invest more.

A couple of factors that helped Investors make a buying stance on Banking sector have been a gradual increase in secondary market PIB yields since last month as well as annual average inflation for FY20 in excess of 10 percent that diminishes the prospect of further rate cut and therefore a renewed interest in Banking sector.

Interestingly, international crude prices were up as well overnight and during today’s market session, however, E&P stocks didn’t pay heed to the price increase and saw selling pressure. Cement sector stocks also showed some signs of revival but remained range bound.

Banking sector stocks led the volumes with 50 million shares, followed by Technology (24.3 million) and Cement (17.3 million). Among scrips, PAEL realized trading volume of 14.2 million, followed by TRG (12.5 million) and HASCOL (12.3 million).

Sectors contributing to the performance include Banks (+332 points), E&P (+38 points), Autos (+13 points), Fertilizer -22 points), Pharma (-18 points) and Inv Banks (-14 points).

Volumes increased from 198.1 million shares to 220.6 million shares (+11 percent DoD). Average traded value also increased by 19 percent to reach US$ 52.3 million as against US$ 44.2 million.

Stocks that contributed significantly to the volumes include PAEL, TRG, HASCOL, BOP and UNITY, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include MCB (+89 points)a, UBL (+82 points), HBL (+63 points), BAFL (+35 points) and POL (+29 points). Stocks that contributed negatively include FFC (-17 points), DAWH (-14 points), SEARL (-11 points), HMB (-11 points), and OGDC (-7 points).

KARACHI: The stock market likely to stay positive during next week due to resumption of business activities after ease in lockdown.

Analysts at Arif Habib Limited said that the market to remain positive as companies resume operations following easing of the lockdown which is helping revive sentiment in the bourse.

Moreover a growth focused budget is expected which should also help keep confidence upbeat.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.1x (2020) compared to Asia Pac regional average of 11.9x and while offering DY of ~8.3 percent versus ~3.0 percent offered by the region.

This week was a two-day trading week following the Eid holidays. Investors are expecting the upcoming budget to be focused upon measures to uplift the economy.

However stringent revenue targets are likely to be a major deterrent. That said, news coming in this week has been suggestive of no new additional taxation measures. The index went up by 95 points WoW to settle at 33,931 points.

Sector-wise positive contributions came from i) Technology & Communication (+46pts), ii) Cement (+43pts), and iii) Pharmaceuticals (+39pts) while negative contributions came from Fertilizers (-43pts), and Commercial Banks (-39pts). Scrip-wise positive contributions were led by TRG (+28pts), OGDC (+26pts), and LUCK (+23pts) while ENGRO (-49pts) and UBL (-30pts) remained laggards.

Foreign offloading during the week arrived at USD 2.42 million compared to a net sell of USD 8.77 million last week.

Selling was witnessed in Fertilizer (USD 2.54 million), Textile Composite (USD 1.81 million) and Banks (USD 1.01 million).

On the domestic front, Individual accumulated stocks worth USD 3.93 million, while buying by Broker Proprietary Trading arrived at USD 0.62 million.

Average volumes settled at 214 million shares (up by 4 percent WoW) while average value traded clocked-in at USD 54 million (up by 13 percent WoW).

KARACHI: The stock market gained 236 points on Friday owing to slight improvement in international oil prices, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,931 points as against 33,695 points showing an increase of 236 points.

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KARACHI: The stock market fell by 141 points after Eid Holidays on Thursday as international crude prices slipped, dealers said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,695 points as against 33,836 points showing a decline of 141 points.

Analysts Arif Habib Limited said that the market opened on a negative today and maintained the negative trajectory, realizing a loss of 238 points during the session and closing -141 points.

International crude prices slipped overnight to trade near US$31.5/bbl, which was approx. 4 percent down from the level KSE100 saw on last Thursday, before the market closed for long weekend (due to Eid).

Besides, Cement and Banking sectors remained under pressure throughout the session for want of a clear positive trigger.

Off-board scrips, TRG, UNITY, PAEL, HUMNL remained in the limelight in addition to Pharma sector (primarily SEARL and GLAXO), which has consistently shown performance on the back of Covid-19 cures.

Technology sector led the volumes with 36.9 million shares, followed by O&GMCs (28.8 million) and Vanaspati (21.2 million). Among scrips, TRG topped the index with 24.7 million shares, followed by HASCOL (24.4 million) and UNITY (21.1 million).

Sectors contributing to the performance include Banks (-76 points), E&P (-56 points), Fertilizer (-22 points), Chemical (-16 points), Power (-14 points), Pharma (+31 points) and Technology (+21 points).

Volumes declined further from 147.2 million shares to 194.6 million shares (+32 percent DoD). Average traded value also increased by 25 percent to reach US$ 45.1 million as against US$ 36.4 million.

Stocks that contributed significantly to the volumes include TRG, HASCOL, UNITY, PAEL and MLCF, which formed 48 percent of total volumes.

Stocks that contributed positively to the index include SEARL (+21 points), TRG (+19 points), GLAXO (+11 points), MARI (+9 points) and KAPCO (+7 points). Stocks that contributed negatively include OGDC (-27 points), UBL (-27 points), PPL (-26 points), HBL (-24 points), and HUBC (-18 points).

KARACHI: Stock market may witness enhanced activities after Eid ul Fitr, analysts said.

The analysts at Arif Habib Limited said that provisional estimates of the National Accounts Committee (NAC) suggest slowdown in GDP at a negative 0.4 percent during the ongoing year.

Although investors struggle to find silver linings at present, expectations of a rebound next year (IMF forecasts GDP growth at 2 percent in FY21) marks the upcoming Federal Budget a key event for the market.

“We believe commencement of economic activity amid ease in lockdown as well growth boosting budgetary measures could potentially reinvigorate the market momentum post Eid break,” the analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.1x (2020) compared to Asia Pac regional average of 11.4x while offering a dividend yield of around 8.3 percent versus around 3.1 percent offered by the region.

Chronic economic concerns given wildfire-like spread of COVID-19 cases, weak external account data (CAD at USD 572 million in April 2020; exports / remittances down by 23.5 percent / 5.5 percent MoM) as well as profit-taking near the key 34,000 index level, overshadowed the SBP’s monetary response to Corona induced decline in economic activity (another 100bps cut in policy rate to 8 percent).

Moreover, market participants appeared weary of building long positions prior to the Eid break and hence, the benchmark equity bourse closed at 33,837 points (down by 172 points / 0.5 percent WoW).

Sector-wise negative contributions came from i) Commercial Banks (162 points) as Moody’s placed five Pakistani banks on review for downgrade and adverse impact of rate cut on NIMs, ii) Fertilizer (114 points), and iii) Cement (95 points).

Scrip-wise negative contributions were led by ENGRO (52 points), FFC (43 points), and MCB (36 points). Whereas top gainers were: i) Oil & gas exploration companies (120 points) and Food and personal care products (32 points).

Foreign offloading during the week arrived at USD 8.77 million compared to a net sell of USD 10.91 million last week.

Selling was witnessed in Oil & Gas Marketing Companies (USD 2.36 million), Banks (USD 2.11 million) and Fertilizer (USD 1.69 million).

On the domestic front, Individual accumulated stocks worth USD 11.37 million, while buying by Insurance companies arrived at USD 4.9 million.

Average volumes settled at 205.5 million shares (down by 6 percent WoW) while average value traded clocked-in at USD 47.5 million (up by 18 percent WoW).

In a day marked by mixed trading activities, the share market, the Pakistan Stock Exchange (PSX) experienced a decline of 96 points on Thursday, with the benchmark KSE-100 index closing at 33,837 points compared to the previous day’s 33,933 points.

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