Tag: KSE-100

KARACHI: The stock market gained 900 points or 2.6 percent on Monday on expectations of ease in policy rate.

The Index closed at 35,277 points as against 34,378 points showing an increase of 900 points.

Analysts at Arif Habib Limited said expectation of volumetric increase in Cement dispatches fueled buying activity since Wednesday, and the confirmation thereof gave confidence to the investors of their thesis.

Cut in policy rate by SBP is also on the anvil, whereby market is keenly waiting for more cues from monthly CPI (yet to be released) and downward adjustment of NSS rates (which are linked in PIB yields, and again yet to be materialized).

Temperature on political front also seemed to be cooling-off, giving way to the talks of NRO with jailed politicians. Overall, the situation seems ripe for the re-conversion of funds lately deployed in Fixed income back into Equities that in itself means significant jump in the index as the majority of the AUMs of the mutual fund industry went to money market funds.

Overall, the index gained 931 points and closed the session at +900 points. The Index also crossed 35k level after 4 months.

Major activity was seen in Cement sector with 34.6 million shares, followed by Banks (20.7 million) and Engineering (18.6 million). Among scrips, FCCL led trading volumes with 11.2 million shares, followed by HASCOL (9.4 million) and BOP (8.8 million).

Sectors contributing to the performance include Banks (+273 points), Fertilizer (+135 points), E&P (+114 points), Cement (+90 points) and Power (+84 points).

Volumes increased from 157.1 million shares to 207.5 million shares (+32 percent DoD). Average traded value also increased by 31 percent to reach US$ 54.3 million as against US$ 41.5 million.

Stocks that contributed significantly to the volumes include FCCL, HASCOL, BOP, UNITY and KEL, which formed 22 percent of total volumes.

Stocks that contributed positively include HBL (+94 points), MCB (+74 points), HUBC (+73 points), ENGRO (+58 points) and LUCK (+49 points). Stocks that contributed negatively include ANL (-2 points), APL (-1 points), SCBPL (-1 points), GHGL (-1 points), and SRVI (-1 points).

KARACHI: The stock market likely to stay positive during next week owing to improving macroeconomic position, analysts said.

Analysts at Arif Habib Limited said that market to remain positive on the back of improving macroeconomic position, country witnessing foreign net inflows in T-bills (USD 441 million in FY20TD), agreement between government and traders, and decline in fixed income yields.

Furthermore we expect a successful first quarter review with IMF team that will lead towards disbursement of second tranche of USD 455 million.

However, any mishap between government and opposition protesters could pose downside risks to market performance.

The KSE-100 is currently trading at a PER of 5.9x (2020) compared to Asia Pac regional average of 13.6x while offering a dividend yield of ~9.3 percent versus ~2.6 percent offered by the region.

During the outgoing week, despite political uncertainty, trading commenced on a positive note attributable to Prime Minister Imran Khan deferring axle load policy for a year along with meagre increase in cement prices in the Northern Region (as per PBS).

Both developments stimulated bullish momentum in the cement sector. On the other hand, traders called off their two days strike as government agreed to the demands of traders.

Moreover, significant decline in money market yields and impressive tax collection for the month of Oct’19 (increased by 16 percent YoY to PKR 320bn) improved investors’ sentiments.

As a result, the benchmark KSE-100 index closed above the 34K mark at 34,378 points, increasing by 720 points or 2.14 percent WoW.

Contribution to the upside was led by i) Banking Sector (+189 points) ii) Cement Sector (+187 points), iii) Oil and Gas Marketing (+96 points), iv) Fertilizer (+88 points), and v) Power (+61 points).Scrip wise major gainers were DAWH (+83 points), MCB (+81 points), PSO (+78 points), LUCK (+51 points), and DGKC (+46 points). Whereas, scrip wise major losers were FFC (-42 points), OGDC (-20 points), and NESTLE (-17 points).

Foreign offloaded stocks worth of USD 3.13 million compared to a net buy of USD 2.78 million last week. Major selling was witnessed in E&P (USD 2.06 million) and Textile (USD 1.34 million).

On the local front, buying was reported by Companies (USD 5.00 million) followed by Mutual Funds (USD 2.79 million). That said, average daily volumes for the outgoing week were massively up by 34 percent to 166mn shares likewise value traded increased by 41 percent to USD 36 million.

KARACHI: The stock market gained 174 points on Friday amid protest rally staged by opposition parties.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,378 points as against 34,204 points showing an increase of 174 points.

Analysts at Arif Habib Limited said that the market largely traded positive, although the benchmark index saw a drawdown of 96 points, but closed the session 174 points.

Second session proved dramatic, when Azadi March protesters were relayed on TV screens demonstrating the strength that reflected negatively on the market.

The index however, recovered during MoC and buying activity resumed with full vigour. E&P, Autos and Fertilizer largely took bearish stance, whereas Cement, OMCs and large cap blue chip stocks performed well on the bourse.

Sector wise activity showed Cement leading the table with 46.2 million shares (contributed by FCCL, MLCF, PIOC and DGKC among top 10 volume leaders), followed by Technology (11.7 million) and Banks (11 million).

Among scrips, FCCL realized trading volume of 12.9 million shares, followed by MLCF (10.8 million) and STPL (9.1 million).

Sectors contributing to the performance include Cements (+67 points), Banks (+63 points), Power Generation (+41 points), Fertilizer (+23 points) and Inv Banks (+14 points).

Volumes decreased from 184.0 million shares to 157.1 million shares (-14.6 percent DoD). Average traded value also decreased by 6 percent to reach US$ 41.5 million as against US$ 44.1 million.

Stocks that contributed significantly to the volumes include FCCL, MLCF, STPL, BOP and KEL, which formed 30 percent of total volumes.

Stocks that contributed positively include HUBC (+39 points), LUCK (+32 points), MARI (+23 points), BAFL (+19 points) and MCB (+17 points). Stocks that contributed negatively include OGDC (-16 points), PPL (-16 points), PMPK (-10 points), POL (-7 points), and BAHL (-5 points).

KARACHI: The stock market gained 442 points on Thursday despite political uncertainty due to Azadi March (protest relly) launched by JUI-F.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,204 points as against 33,761 points showing an increase of 442 points.

Analysts at Arif Habib Limited said that despite the political uncertainty imbued by JUI (F)’s Azadi March (protest rally), market took rather positive cue from yesterday’s PIB auction.

The yields dropped further, especially in 10-year bond that cemented the view of rate cut in the coming monetary policy.

Announcement of next PIB’s auction before the next monetary policy also helped professional money managers take a view that the yields will drop further or at least maintain, which becomes the reason for reconversion of funds deployed in fixed income back to equities.

Buying activity was observed across the board, especially in E&P, Cement and Banking sectors, which kept the stock prices at high level.

The index moved uni-directional and made a high of 545 points, closing the session at +442 points. Technology sector realized trading volume of 31.4 million shares, followed by Cement (25.1 million) and Banks (20.2 million).

Among scrips, WTL again led the volumes with 24.2 million followed by BOP (9.1 million) and MLCF (8.5 million).

Sectors contributing to the performance include Banks (+113 points), E&P (+71 points), Fertilizer (+57 points), Cement (54 points) and Inv Banks (+47 points).

Volumes increased from 129.9 million shares to 183.9 million shares (+42 percent DoD). Average traded value also increased by 37 percent to reach US$ 44.1 million as against US$ 32.2 million.

Stocks that contributed significantly to the volumes include WTL, BOP, MLCF, PPL and STPL, which formed 30 percent of total volumes.

Stocks that contributed positively include ENGRO (+55 points), MCB (+51 points), DAWH (+45 points), PPL (+37 points) and PSO (+34 points). Stocks that contributed negatively include PAKT (-32 points), NESTLE (-12 points), FFC (-11 points), MUREB (-5 points), and HASCOL (-3 points).

KARACHI: The stock market ended down by 36 points on Wednesday in narrow band trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,761 points as against 33,798 points showing decline of 36 points.

Analysts at Arif Habib Limited said that KSE-100 index opened on a positive note, but repeated the activity seen yesterday.

Index traded in a narrow band between+154 points and -127 points, ending the session -36 points from yesterday’s closing. A host of quarterly results were announced today, but failed to leave a positive impression on stock price in a major way.

HASCOL finally announced issuance of400 percent Rights that caused some jitters, with the stock price closing the session near LDCP.

Cement and Steel sectors again showed selling pressure, although some of the key stocks like MUGHAL, ASTL, DGKC, MLCF ended the session positive.

Technology sector again realized highest trading volume with 17.2 million shares, followed by Engineering (16.8million) and Cement (15.9 million).

Among scrips, WTL led the volumes with 13.3million, followed by UNITY (7.5 million) and MLCF (7.1 million).

Sectors contributing to the performance include O&GMCs (+35 points), Tobacco (+31 points), Fertilizer(-39 points), Miscellaneous (-31 points), Banks (-30 points), Power (-21 points).

Volumes declined again from 225.1million shares to 129.8 million shares (-42 percent DoD). Average traded value also declined by 8 percent to reach US$ 32.1 million as against US$ 34.8million.

Stocks that contributed significantly to the volumes include WTL, UNITY, MLCF, HASCOL and ASTL, which formed 32percent of total volumes.

Stocks that contributed positively include PSO (+32 points), PAKT (+31 points), DAWH (+27 points), SEARL (+15points) and MCB (+11 points). Stocks that contributed negatively include PSEL(-24 points), ENGRO (-22 points), HBL (-15 points), LUCK (-15 points), and FFC(-12 points).

KARACHI: The stock market ended down by 64 points on Tuesday while traded in narrow band.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,798 points as against 33,862 points showing a decline of 64 points.

Analysts at Arif Habib Limited said that the market traded in a narrow band of -146 points and +155 points, testing 34,000 level again but closed below this level -64 points.

Cement and Steel sectors that have been in the limelight lately braced selling pressure.

Though earlier in the session, cement sector blue chips hit upper circuit but later profit booking brought stock prices down.

Other than steel and cement, E&P and O&GMCs also faced selling activity mainly due to expectation of poor results of O&GMCs and otherwise lower international crude oil prices.

Technology sector led the volumes with 43.6 million shares, followed by Cement (36.1 million) and Banks (31.5 million).

Among scrips, WTL registered trading volume of 37.5 million shares, followed by BOP (22.5 million) and PIBTL (10.6 million).

Sectors contributing to the performance include Banks (-24 points), Fertilizer (-16 points), O&GMCs (-13 points), Insurance (-12 points) and Chemical (-11 points).

Volumes increased significantly from 135.6 million shares to 224.8 million shares (+66 percent DoD. Average traded value also increased by 32 percent DoD to reach US$ 34.8 million as against US$ 26.3 million.

Stocks that contributed significantly to the volumes include WTL, BOP, PIBTL, FCCL and MLCF, which formed 39 percent of total volumes.

Stocks that contributed positively include PSEL (+23 points), BOP (+12 points), SEARL (+10 points), FFBL (+7 points) and GLAXO (+6 points). Stocks that contributed negatively include OGDC (-13 points), ENGRO (-13 points), LUCK (-13 points), COLG (-11 points), and BAHL (-11 points).

KARACHI: The stock market gained 204 points on Monday in mixed trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,862 points as against 33,657 points showing an increase of 204 points.

Analysts at Arif Habib Limited said that end of rollover week saw market activity picking pace with the benchmark index trading near 34,000 level after an initial jolt of 85 points earlier in the session.

At a time, market went up by 350 points (crossing 34k level briefly) and ended the session +204 points.

Cement sector performed well due to the news of deferment of axle load policy for a year, resulting in cement sector scrips trading at and near upper circuit, although recently announced financial results were poorer than expectation. Mainly fertilizer and banking sector scrips saw selling activity.

Cement sector led the volumes table with 22.7 million shares followed by Transport (15.1 million) and Engineering (14.4 million).

Among scrips, PIBTL led trading volumes with 12.7 million shares, followed by TRG (7.6 million) and FCCL (7 million).

Sectors contributing to the performance include Cement (+72 points), Banks (+66 points), O&GMCs (+32 points), Pharma (+17 points), Power (+15 points), E&P (-23 points) and Fertilizer (-20 points).

Volumes declined from 170.9 million shares to 135.5 million shares (-21 percent DoD). Average traded value, on the other hand, registered a slight increase of 2 percent DoD to reach US$ 26.3 million as against US$ 25.8 million.

Stocks that contributed significantly to the volumes include PIBTL, TRG, FCCL, HASCOL and UNITY, which formed 29 percent of total volumes.

Stocks that contributed positively include LUCK (+29 points), HBL (+27 points), BAHL (+21 points), PSO (+16 points) and FCCL (+14 points). Stocks that contributed negatively include FFC (-17 points), COLG (-12 points), MARI (-10 points), BAFL (-10 points), and PPL (-10 points).

KARACHI: The stock market likely to remain range bound during next week due to political uncertainty with JUI-F to hold “Azadi March”.

Analysts at Arif Habib Limited said that on the economic front, narrowing current account deficit and improving foreign reserves serves as a good omen for overall confidence in the market. With the result season continuing next week, we expect activity to be influenced accordingly.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2020) compared to Asia Pac regional average of 13.3x and while offering DY of ~9.4 percent versus ~2.4 percent offered by the region.

The market commenced on a negative note with FATF warning to Pakistan echoing from last Friday. The negativity was cushioned as Pakistan steeply climbed the World Bank Ease of Doing Business Index from 136th to 108th. Further inversion in T Bill yields continued to improve sentiment.

However duress on the political front amid opposition preparing for a protest against the government dampened sentiment towards end of the week. The KSE-100 Index closed at 33,657 points, shedding 213 points (down by 0.6 percent) WoW.

Sector-wise negative contributions came from i) Commercial Banks (108 points), ii) Cement (104 points), and iii) Power Generation & Distribution (76 points) while positive contributions were led by i) Oil & Gas Exploration Companies (118 points), ii) Food & Personal Care Products (47 points) and iii) Fertilizer (30 points). Scrip-wise negative contributions were led by LUCK (58 points), BAHL (44 points), HUBC (42 points), PSEL (35 points) and HBL (35 points).

Foreign buying was witnessed this week clocking-in at USD 2.8 million compared to a net sell of USD 2.1 million last week. Buying was witnessed in Cement (USD 2.0 million) and Fertilizer (USD 1.2 million). On the domestic front, major selling was reported by Individuals (USD 3.1 million) and Companies (USD 2.2 million).

Average Volumes settled at 125 million shares (down by 11 percent WoW) while average value traded clocked-in at USD 25 million (down by 17 percent WoW).

KARACHI: The stock market ended down by 105 points on Friday mainly responded to financial results. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,657 points as against 33,762 points showing a decrease of 105 points.

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KARACHI: The stock market gained 323 points on Thursday as investors confident on ease of interest rate in upcoming policy announcement.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,72 points as against 33,440 points showing an increase of 323 points.

Analysts at Arif Habib Limited said that today’s activity at the bourse was more of a déjà vu.

Similar performance was witnessed yesterday, however, on the whole the 800 points loss that market saw on Monday (on the back of FATF news) was largely recovered in the past 2 sessions.

Cement, Steel, OMCs, E&P and Banks contributed to the positive sentiments, although Cement sector braced poorer than expected financial results of MLCF.

Overall, the benchmark index saw an increase of 423 points, ending the session +323 points (unadjusted). Investors seemingly had firm view on decline in interest rates, expected to be announced in November by SBP, and the same was evident from yesterday’s t-bill auction that saw further inversion of yield curve in short tenor instruments.

Technology sector led the volumes with 24.6 million shares, followed by Engineering (16.1 million) and Cement (14.5 million).

Among scrips, WTL realized 17.2 million shares in trading volumes, followed by DSL (5.4 million) and LOTCHEM (5.1 million).

Sectors contributing to the performance include E&P (+115 points), Banks (+78 points), Fertilizer (+38 points), O&GMCs (+26 points) and Food (+19 points).

Volumes increased from 116.9 million shares to 121.2 million shares (+4 percent DoD). Average traded value also increased by 11 percent to reach US$ 25.5 million from US$ 23 million.

Stocks that contributed significantly to the volumes include WTL, DSL, LOTCHEM, TRG and FCCL, which formed 31 percent of total volumes.

Stocks that contributed positively include OGDC (+41 points), POL (+32 points), PPL (+27 points), ENGRO (+24 points) and MCB (+20 points).

Stocks that contributed negatively include MTL (-6 points), FATIMA (-4 points), LUCK (-3 points), MLCF (-3 points), and FML (-3 points).