Tag: KSE-100

KARACHI: The stock market gained 328 points on Wednesday despite ongoing court proceedings related to tenure extension of the army chief.

The benchmark KSE-100 index closed at 38,123 points as against 37,795 points showing an increase of +328 points.

Analysts at Arif Habib Limited said that the political uncertainty took center stage since yesterday, when SC took notice of Army Chief’s extension.

Considering this issue to be a procedural issue, which will be resolved by the government, market took a positive view of the situation and partly recovered points lost in yesterday’s trading.

All in all, the index gained 311 points during the session, and closed the session at +328 points.

Session did saw a loss of 123 points as the remarks by SC judges came in public, denting investor sentiment for a while.

Buying activity was largely observed in Steel and Cement sectors, wherein Steel and Auto sector scrips hit upper circuits.

Cement sector led the volumes with 49.7 million shares, followed by Vanaspati (24 million) and Food (23.5 million) repeating yesterday’s performance.

Among scrips, 2 of the top volume leaders were UNITY (24 million) and FFL (19.9 million) followed by MLCF (15.3 million) which closed at upper circuit.

Sectors contributing to the performance include Banks (+132 points), Power (+31 points), Tobacco (+31 points), Fertilizer (+22 points), and Autos (+14 points).

Volumes declined significantly by 53 percent to reach 228.1 million shares against 488.7 million shares. Average traded value also declined by 57 percent to reach US$ 51.5 million as against US$ 118.5 million.

Stocks that contributed significantly to the volumes include UNITY, FFL, MLCF, MLCFR1 and PAEL, which formed 37 percent of total volumes.

Stocks that contributed positively include MCB (+53 points), FFC (+39 points), PAKT (+32 points), HUBC (+30 points) and HBL (+28 points). Stocks that contributed negatively include ENGRO (-19 points), PPL (-13 points), MARI (-12 points), COLG (-9 points), and EFERT (-4 points).

KARACHI: The stock market plunged by 417 points on Tuesday following decision of the top court regarding extension of Chief of the Army Staff’s tenure.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,795 points as against 38,212 points showing a decline of 417 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today and went up by 356 points in initial trading.

As the news of Supreme Court’s notice on extension of COAS’s tenure caused panic among investors. The market took a nose dive of 676 points and although staged recovery a couple of times, but failed to manage the selling pressure. The session ended with negative 417 points.

As a result of confusion amongst investors, apparently those who booked positions earlier in the session resorted to selling to stem losses, trading volumes increased to 488 million shares.

Selling pressure was observed in Cement sector, particularly DGKC and LUCK, where a rumour of an increase in Cement price caused investors to take positions.

Similarly, banking sector faced selling pressure, with MCB taking a major toll. Cement sector led the volumes with 69.4 million shares, followed by Vanaspati (58.1 million) and Banks (50.4 million).

Among scrips, UNITY registered trading volume of 58.1 million shares, followed by FFL (33.9 million) and PAEL (29.6 million).

Sectors contributing to the performance include E&P (-101 points), Banks (-95 points), Power (-92 points), Cement (-56 points) and O&GMCs (-49 points).

Volumes increased significantly from 241.5 million shares to 488.1 million shares (+102 percent DoD). Average traded value also increased by 110 percent to reach US$ 118.3 million as against 56.5 million.

Stocks that contributed significantly to the volumes include UNITY, FFL, PAEL, BOP and DGKC, which formed 34 percent of total volumes.

Stocks that contributed positively include ENGRO (+46 points), AICL (+8 points), SYS (+8 points), EFUG (+7 points) and COLG (+6 points). Stocks that contributed negatively include HUBC (-74 points), OGDC (-61 points), MCB (-45 points), PSO (-34 points), and LUCK (-31 points).

KARACHI: The stock market gained 287 points on Monday as buying activities seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,212 points as against 37,926 points showing an increase of 287 points.

Analysts at Arif Habib Limited said that the market was initially expected to face selling pressure in the wake of roll-over week, however, SBP’s status quo on monetary policy instilled confidence among investors believing that the rate cut may be announced early CY2020.

Buying activity was observed in Cement (on the back of expectation of posting healthy dispatches).

Similarly, Food sector also performed well with majority scrips trading at upper circuits.

E&P, OMCs and Refinery remained in the limelight, among which HASCOL maintained the upward trajectory on upper circuit.

Cement sector led the volumes with 37.8 million shares, followed by Technology (23.7 million) and Food (20.5 million).

Among scrips, PAEL registered 19.1 million shares, followed by UNITY (18.6 million) and TRG (15 million).

Sectors contributing to the performance include Banks (+116 points), Cement (+77 points), Fertilizer (+23 points), Pharma (+20 points) and Technology (+15 points).

Volumes declined slightly by 0.8 percent DoD to 241.2 million shares as against 243 million shares. Average traded value however, increased by 8 percent to reach US$ 56.4 million as against US$ 52.3 million.

Stocks that contributed significantly to the volumes include PAEL, UNITY, TRG, FFL and PSX, which formed 32 percent of total volumes.

Stocks that contributed positively include LUCK (+47 points), MCB (+38 points), HBL (+27 points), UBL (+19 points) and FFC (+18 points). Stocks that contributed negatively include PPL (-26 points), HUBC (-18 points), DAWH (-14 points), SHFA (-7 points), and THALL (-4 points).

KARACHI: The stock market likely to remain positive during the next week owing to rising foreign investment in debt securities.

Analysts at Arif Habib Limited said that market to remain positive in the upcoming week.

As per expectation, policy rate remained unchanged at 13.25 percent. With current account deficit turning surplus at USD 99 million in October 2019 and foreign reserves rising amid investment in T-Bills (reaching USD 1bn) from July 2019 to date, positive sentiments are expected to persist.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) index is currently trading at a PER of 6.5x (2020) compared to Asia Pac regional average of 13.5x and while offering DY of ~8.4 percent versus ~2.6 percent offered by the region.

The market commenced on positive note this week, breaching 38,000 points level (last witnessed in April’19), amid continued confidence in business climate.

Furthermore, IMF approved issue of sovereign guarantees worth Rs250 billion for tackling circular debt which improved sentiment in the power sector.

However, during the week bears briefly rushed in amid profit taking, implementation of axle load policy and higher inflationary readings causing concerns over delay in SBP’s policy rate cut.

Albeit, the fear was temporary as as steep rally was witnessed as the week closed on Friday.

That said, the benchmark KSE-100 Index gained 342 points (up by 0.9 percent) WoW, settling at 37,926 points.

Sector-wise positive contributions came from i) Power Generation & Distribution (140 points), ii) Fertilizer (102 points), and iii) Oil & Gas Marketing Companies (66 points) while negative contributions were led by i) Commercial Banks (74 points), ii) Transport (15 points) and iii) Refinery (11 points). Scrip-wise positive contributions were led by HUBC (132 points), FFC (94 points), PSO (40 points), LUCK (32 points) and NATF (29 points).

Foreign buying was witnessed this week clocking-in at USD 8.5 million compared to a net buy of USD 4.2 million last week.

Buying was witnessed in Commercial Banks (USD 6.7 million) and Fertilizer (USD 3.6 million). On the domestic front, major selling was reported by Banks / DFIs (USD 15.2 million) and Insurance Companies (USD 2.6 million).

Average Volumes settled at 331mn shares (up by 6 percent WoW) while average value traded clocked-in at USD 74 million (up by 15 percent WoW).

KARACHI: The stock market gained 825 points on Friday amid bullish trading which resulted in recovery of past day’s losses.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,926 points as against 37,101 points showing an increase of 825 points.

Analysts at Arif Habib Limited said that the market went into bullish mode again, recovering majority of loss incurred yesterday.

During the session, the benchmark index gained 847 points and closed the session +824 points.

The first session ended +395 points that gave confidence to investors to take positive bet on SBP policy rate decision, due to be announced on Friday eve post market close.

Activity was observed across the board. Technology stocks traded the most with 44.7 million shares, followed by Cement (33.6 million) and Banks (28.7 million). TRG realized 24.5 million shares, followed by PAEL (20.6 million) and BOP (15.4 million).

Sectors contributing to the performance include Banks (+203 points), Fertilizer (+134 points), E&P (+130 points), Cement (+88 points) and Power (+43 points).

Volumes increased from 232.6 million shares to 242.7 million shares (+4 percent DoD). Average traded value increased by 0.2 percent DoD to reach US$ 52.2 million as against US$ 52.1 million.

Stocks that contributed significantly to the volumes include TRG, PAEL, BOP, PTC and KEL, which formed 33 percent of total volumes.

Stocks that contributed positively include ENGRO (+57 points), FFC (+54 points), HBL (+50 points), LUCK (+47 points) and PPL (+44 points). Stocks that contributed negatively include SHFA (-3 points), SPWL (-3 points), PMPK (-1 points), DCR (-1 points), and IDYM (-1 points).

KARACHI: The stock market plunged by 936 points on Thursday as selling pressure continued in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,101 points as against 38,038 points showing a decline of 936 points.

Analysts at Arif Habib Limited said that the reports of implementation of Axle Load policy as directed by Islamabad High Court broke the day, post market opening, which had a knee jerk reaction on Cement and Steel stocks.

Selling pressure kept building up with investors concerned about growing political wrangling.

Index heavy weights took the toll, causing index to plunge by more than 1000 points, which caused panic among investors especially after sustaining a blow of 527 points yesterday.

Cement sector led the volumes table with 42.7 million shares, followed by Technology (22.6 million) and Engineering (22 million).

Scrip wise activity showed KEL scoring 12.1 million shares, followed by PAEL (10.3 million) and TRG (9.5 million).

Sectors contributing to the performance include Banks (-208 points), Fertilizer (-114 points), E&P (-100 points), Power (-96 points) and Cement (-95 points).

Volumes declined from 327.7 million shares to 232.4 million shares (-29 percent DoD).

Average traded value also declined by 29 percent DoD to reach US$ 52.1 million as against US$ 73.5 million.

Stocks that contributed significantly to the volumes include KEL, PAEL, TRG, UNITY and BOP, which formed 21 percent of total volumes.

Stocks that contributed positively include NESTLE (+5 points), AICL (+3 points), HASCOL (+2 points), GATM (+1 points) and STJT (+0 points).

Stocks that contributed negatively include HUBC (-69 points), ENGRO (-59 points), LUCK (-53 points), PSO (-44 points), and PPL (-43 points).

KARACHI: The stock market fell by 527 points on Wednesday as investors opted for profit taking following the bull run during past few days.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,038 points as against 38,564 points showing a decline of 527 points.

After managing a bull run that added around 10,000 points from its low, the market finally took corrective stance with index plunging 527 points and closing the session at that note.

Selling pressure was evident in Cement, E&P, O&GMCs and banking sector stocks.

Although dust is seemingly settling on political front, investors took cue from T-bill auction that saw yields increasing further and considered it best to book profit prior to announcement of monetary policy on Friday November 22, 2019. Street consensus is for status quo.

Index is so far maintaining healthy volumes registering 327 million shares as compared with 385 million in the previous session.

Majority of the volumes were traded in Technology with 50.4 million shares, followed by Engineering (38 million) and Banks (33 million).

Among scrips, WTL led the volumes with 28.3 million shares, followed by BOP (17.1 million) and PAEL (15.1 million).

Sectors contributing to the performance include Banks (-203 points), E&P (-113 points), Cement (-49 points), Fertilizer (-30 points) and Chemical (-24 points).

Volumes declined further from 385.3 million shares to 327.4 million shares.

Average traded value also declined by 19 percent to reach US$ 73.4 million as against US$ 90.5 million.

Stocks that contributed significantly to the volumes include WTL, BOP, PAEL, KEL and ISL, which formed 25 percent of total volumes.

Stocks that contributed positively include FFC (+24 points), NATF (+10 points), THALL (+7 points), ISL (+7 points) and AGP (+5 points).

Stocks that contributed negatively include HBL (-63 points), ENGRO (-49 points), OGDC (-35 points), UBL (-34 points), and MCB (-33 points).

KARACHI: The stock market gained 153 points on Tuesday amid profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,564 points as against 38,412 points showing an increase of +153 points.

Analysts at Arif Habib Limited said that the market moved up and down during the session.

Initially the index gained +500 points but erased all the gains on profit booking, which took the index -18 points.

Activity picked pace again with index gaining again around +350 points. MoC resulted in selling pressure again, closing the index +153 points.

Key stocks that sustained selling pressure included DGKC, MLCF, FCCL and largely Steel sector, where MUGHAL saw trading at lower circuit.

Among Fertilizer sector, ENGRO made a recent high close to Rs. 345, but faced selling pressure to bring the price to Rs. 338.

Trading volumes registered at 385 million shares, out of which Cement Sector led the table with 53.2 million shares, followed by Banks (40.1 million) and Power (38.5 million).

Among scrips, KEL realized volumes of 27.5 million, followed by BOP (25 million) and DSL (22.3 million).

Sectors contributing to the performance include Power (+103 points), O&GMCs (+63 points), Inv Banks (+37 points), Pharma (+28 points), Tobacco (-34 points) Banks (-31 points) and Fertilizer (-16 points).

Volumes posted a decline from 466.1 million shares to 384.8 million shares (-17 percent DoD). Average trading value also declined by 9 percent to reach US$ 90.4 million as against US$ 99.8 million.

Stocks that contributed significantly to the volumes include KEL, BOP, DSL, SNGP and PAEL, which formed 27 percent of total volumes.

Stocks that contributed positively include HUBC (+94 points), PSO (+33 points), DAWH (+27 points), SNGP (+23 points) and FFC (+14 points).

Stocks that contributed negatively include PAKT (-34 points), ENGRO (-27 points), UBL (-24 points), BAHL (-17 points), and POL (-11 points).

The stock market witnessed a robust rally on Monday as the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) surged by 828 points, closing at 38,412 points, up from the previous close of 37,584 points.

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KARACHI: The stock market to maintain upsurge in next week owing to foreign investors’ participation in local bond and equity markets.

Analysts at Arif Habib Limited said that although the market may witness a temporary spell of consolidation, we expect the index to continue its upsurge going forward led by improvement in the macro-economic landscape.

Moreover, augmented participation by foreign and local investors (courtesy improved volumes) in the debt and equity space has also kept the sentiment upbeat. We advise market participants to cherry pick blue chip scrips and keep their view long.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.4x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~8.5 percent versus ~2.6 percent offered by the region.

Foreign investment in government backed treasury bills at USD 722 million since the beginning of FY20, attributable to waning concerns on the economic front has effectively supported the slight growth in FX reserves of the SBP (up by 0.5 percent WoW to USD 8,397 million as at 14th November 2019) and consequentially, kept the exchange rate parity stable.

Meanwhile the opposition party – JUIF – has called-off the sit-in in the capital, shielding the political climate from heating up.

This translated to positivity at the domestic equity bourse with the benchmark KSE-100 index closing at 37,584 points this week, generating a return of 4.5 percent WoW (1,606 points).

Sector-wise Positive contributions came from i) Commercial Banks (430 points), ii) Power Generation & Distribution (203 points), iii) Cement (133 points), iv) E&P (127 points), and OMCs (101 points) while negative contributions were led by i) Tobacco (33 points).

Scrip-wise positive contributions were led by HUBC (156 points), HBL (103 points), BAHL (93 points), ENGRO (56 points) and TRG (55 points).

Foreign buying was witnessed this week clocking-in at USD 4.2 million compared to a net buy of USD 4.5 million last week.

Buying was witnessed in fertilizer (USD 5.1 million) and Commercial Banks (USD 3.8 million). On the domestic front, major selling was reported by Banks / DFIs (USD 18.8 million) and Insurance Companies (USD 9.6 million).

Average Volumes settled at 311 million shares (up by 21 percent WoW) while average value traded clocked-in at USD 64 million (up by 17 percent WoW).