Tag: KSE-100

KARACHI: The stock market gained 401 points on Wednesday to cross 37,000 mark after seven months.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,167 points from last day’s closing of 36,7666 points.

Analysts at Topline Securities said that after depicting a flattish trend in last session, KSE-100 index returned to its upward trajectory to record gain of 1.09 percent/401 points to close at 37,167 level.

The last time the market saw 37,000 was back in Apr-2019 7 months ago.

Furthermore, today the value traded of Rs10.7 billion was the highest of the year thus far.

As per rumors in the market, Pension fund has made investment in mutual funds which led the index to rally 401 points.

Furthermore, (NML) Nishat Mills Limited ,(GATM) Gul Ahmad Textile Mills & FML Feroze Mills Limited closed positively in range of 3-5 percent on recent export based incentives package announced by state bank of Pakistan.

Top contributors to the Index were HBL (+64), followed by BAHL (+44) , ENGRO (+34) & MARI (+30).

Investor participation in terms of volume was recorded at 275 million shares down 6 percent; while traded value was up by 8 percent at Rs.10.7 billion.

UNITY was the market leader followed by WTL & TRG which cumulatively added 24 million shares to total volume.

KARACHI: The stock market ended down by 38 points on Tuesday owing to bearing trend prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,766 points as against 36,803 points showing a decline of 38 points.

Analysts at Arif Habib Limited said that after making another stride of 368 points the index fell into bearish spell and saw erosion of gains made during the day, ending the session at a loss of 38 points.

Cement sector that garnered the most trading volume on the bourse, traded green for most part of the session, but saw selling activity in LUCK. On the whole, Banking, Fertilizer and Chemical sector largely performed negative and was further contributed by E&P and OMCs, which saw selling pressure by the end of the session.

Cement sector led the volumes with 44.6 million shares, followed by Technology (33.4 million) and Chemical (28.1 million). Among scrips, UNITY saw trading volumes of 16.1 million shares, followed by PAEL (16.1 million) and TRG (14.6 million).

Sectors contributing to the performance include Power (+80 points), Autos (+17 points), Food (+16 points), Technology (+15 points), Fertilizer (-69 points), Banks (-49 points), E&P (-34 points) and INv Banks (-27 points).

Volumes increased from 282.9 million shares to 292.1 million shares (+3 percent DoD). Average traded value also increased by 10 percent to reach US$ 64.3 million as against US$ 58.5 million.

Stocks that contributed significantly to the volumes include UNITY, PAEL, TRG, ISL and FCCL, which formed 24 percent of total volumes.

Stocks that contributed positively include HUBC (+58 points), INDU (+16 points), KAPCO (+14 points), TRG (+12 points) and DGKC (+12 points). Stocks that contributed negatively include FFC (-35 points), DAWH (-25 points), EFERT (-25 points), POL (-20 points), and MCB (-19 points).

KARACHI: The stock market surged by 825 points on Monday owing to expected policy rate cut, MSCI review and reports of deal of the government with PML (N).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,803 points as against 35,978 points showing an increase of +825 points.

Analysts at Arif Habib Limited said that the market surged again with a mammoth 840 points and closed the session near day’s high that too at a time when the index has already increased by around 7000 points from low.

“Deal with PML (N) being on the cards, besides possible cut in SBP policy rate and MSCI review proving to be a non-event gave confidence to investors and rather than adjusting downwards, as was anticipated (possibly due to overbought levels) the market went up.”

Market volumes increased as well over the day, registering trading volumes of 283 million shares, contributed mostly by Banks (50.4 million) followed by Cement (32.5 million) and Technology (30.7 million).

Among scrips, BOP registered trading volume of 35.9 million shares, followed by WTL (14.5 million) and MLCF (11.7 million).

Sectors contributing to the performance include Banks (+221 points), E&P (+142 points), Power (+108 points), Cement (+82 points) and O&GMCs (+71 points).

Volumes increased from 210.6mn shares to 282.9mn shares (+34 percent DoD). Average traded value also increased from US$ 42.1mn to US$ 58.5mn (+39 percent DoD).

Stocks that contributed significantly to the volumes include BOP, WTL, MLCF, PIAA and LOTCHEM, which formed 29 percent of total volumes.

Stocks that contributed positively include HUBC (+81 points), UBL (+56 points), OGDC (+52 points), HBL (+48 points) and PPL (+42 points). Stocks that contributed negatively include PAKT (-28 points), PMPK (-8 points), MUREB (-4 points), DCR (-1 points), and SHFA (-1 points).

KARACHI: The upswing in the market may be met with some profit-taking next week. The continuation of the sit-in in the federal capital may create some apprehensions which we expect to create some short-lived jitters in the market, analysts said.

“We expect the stabilizing macro-economy to continue fueling the bullish trend over the medium to long term,” analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.2x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~8.8 percent versus ~2.5 percent offered by the region.

The jubilance in the KSE-100 index continued from last week and provided an 11-week high return of 4.7 percent WoW. Expectation of a rate cut in the near future on the back of continuous decline in government securities’ yields was further cemented with the government slashing National Savings Scheme profit rates by 170-228bps across the different schemes.

However, inflation reading for October 2019 settled at 11.04 percent YoY which was higher than expectations, but failed to deter the positive momentum. Moreover, SBP reserves increased to USD 8.4 billion which is the highest level since April.

Furthermore, external account position continued to improve with the trade deficit declining 34 percent YoY during 4MFY20. The index closed at 35,978 points – a 6 month high (124 trading sessions), and up by 1601 points WoW.

Foreign buying was witnessed this week clocking-in at USD 4.5 million compared to a net sell of USD 3.1 million last week. Buying was witnessed in Fertilizer (USD 6.7 million) and OGMCs (USD 3.2 million).

On the domestic front, major selling was reported by Banks / DFIs (USD 6.0 million) and Insurance Companies (USD 4.6 million). Average Volumes settled at 258 million shares (up by 55 percent WoW) while average value traded clocked-in at USD 54 million (up by 52 percent WoW).

KARACHI: The stock market gained 220 points on Friday after mixed trading activities to respond MSCI review.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,978 points as against 35,759 points showing an increase of +220 points.

Analysts at Arif Habib Limited said that the market on a positive note today with +20 points. The Index went uni-directional and gained 230 points by the end of first session, while reaching a high of +290 points, and finally closed the day with +220 points.

Following past couple of sessions, Cement and Steel continued trading in red and kept the index under pressure. MSCI review, announced last evening, proved to be a sigh of relief for institutional funds which were expecting an exclusion from the Index and resultant deluge of selling activity in outgoing stocks.

On the contrary, MSCI review proved largely to be a non-event, which gave confidence to investors in large cap Banks and E&P companies, particularly MCB, HBL, OGDC and PPL. Major activity (volume wise) was observed in PIAA, WTL, KEL and HUMNL.

Sector wise, most volumes were registered in Technology (43.5 million), followed by Cement (25.6 million) and Inv Banks (18.3 million).

Sectors contributing to the performance include Banks (+93 points), E&P (+64 points), Fertilizer (+47 points), Inv Banks (+31 points), O&GMCs (+13 points).

Volumes continued declining trend and went down from 265.9 million shares to 209.4 million shares (+21 percent DoD). Average traded value also declined by 19 percent to reach US$ 41.9 million as against US$ 51.6 million.

Stocks that contributed significantly to the volumes include WTL, HUMNL, KEL, PIAA and BOP, which formed 29 percent of total volumes.

Stocks that contributed positively include MCB (+33 points), UBL (+30 points), DAWH (+30 points), OGDC (+27 points) and ENGRO (+27 points). Stocks that contributed negatively include HUBC (-27 points), COLG (-13 points), DGKC (-10 points), PMPK (-8 points), and FCCL (-7 points).

KARACHI: The stock market increased by 105 points on Thursday in a narrow band trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,758 points as against 35,6553 points showing an increase of 105 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range between -195 points and +181 points, closing the session +105 points.

Higher than expected inflation caused concern amongst investors about the upcoming monetary policy, where a few days back market had consensus view of a rate cut.

Selling activity was therefore observed in Cement and Steel sectors largely, which have lately seen consistent rally before and after recent announcement of financial results.

Consistent with recent trading pattern, technology sector registered the most trading volume with 68.2 million shares, followed by Cement (30.4 million) and Chemical (19.5 million).

Among scrips, WTL led the volumes with 45.8 million shares, followed by PAEL (16.7 million) and ICIBL (13.6 million).

Sectors contributing to the performance include (Fertilizer (+60 points), O&GMCs (+29 points), E&P (+23 points), Tobacco (+21 points), Autos (+20 points) and Cement (-43 points).

Volumes declined further from 298.1 million shares to 265.8 million shares (-11 percent DoD). Average traded value also declined by 24 percent to reach US$ 51.5 million as against US$ 67.7 million.

Stocks that contributed significantly to the volumes include WTL, PAEL, ICIBL, HUMNL and MLCF, which formed 38 percent of total volumes.

Stocks that contributed positively include PAKT (+29 points), ENGRO (+28 points), POL (+26 points), PSO (+23 points) and HUBC (+19 points). Stocks that contributed negatively include DGKC (-15 points), NESTLE (-11 points), FCCL (-11 points), DAWH (-10 points), and LUCK (-9 points).

KARACHI: The stock market gained 295 points on Wednesday in mixed trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,653 points as against 35,358 points showing an increase of +295 points.

Analysts at Arif Habib Limited said that the market showed early signs of resistance today, where the index increased by 627 points during the session, but selling pressure brought the net gain to +295 points in the end.

Buying activity was evident across the board, on the back of reduction in NSS rates.

That gave confidence to investors for further accumulation, despite index already registering a significant surge.

Overall trading volumes registered close to 300 million – mark, an inch below yesterday’s levels. Cement sector led the volumes with 45.1 million shares, followed by Chemical (29.5 million) and Technology (28 million).

Among scrips, WTL again led the volumes with 15.8 million shares, followed by FCCL (15.7 million) and KEL (14.7 million).

Sectors contributing to the performance include Cement (+53 points), Inv Banks (+45 points), Fertilizer (+25 points), Food (+24 points) and Tobacco (+23 points).

Volumes declined from 297.6 million as against 308.5 million (-4 percent DoD). Average traded value, on the contrary, increased by 21 percent to reach US$ 67.6 million as against 55.8 million.

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

Stocks that contributed positively include DAWH (+42 points), PAKT (+31 points), PPL (+22 points), LUCK (+20 points) and EFERT (+16 points). Stocks that contributed negatively include OGDC (-14 points), POL (-10 points), PMPK (-7 points), FFC (-7 points), and COLG (-6 points).

KARACHI: The stock market gained 81 points on Tuesday in an aggressive buying session.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,358 points as against 35,277 points showing an increase of 81 points.

Analysts at Arif Habib Limited said that the market showed vibrancy in the early hours of trading that saw an increase of 331 points in total, but ending the session at 81 points.

Banks and E&P sector largely resisted the increase in index, besides LUCK among cement sector stocks.

Fertilizer sector showed mixed trend, however, Chemical, O&GMCs and Autos sector contributed positive to the Index.

On the back of possible expansion from ARY Communications, WTL performed well and registered high trading volumes (27 percent of total volumes).

In addition, overall trading volumes also hit a consecutive recent high of 300 million. Technology sector remained in the limelight with 99.4 million shares, followed by Cement (40.8 million) and Chemical (28.4 million).

Among scrips, WTL realized volumes of 81.7 million, followed by MLCF (15.3 million) and LOTCHEM (12.7 million).

Sectors contributing to the performance include Fertilizer (+28 points), Autos (+21 points), Chemical (+20 points), Textile (+18 points), O&GMCs (+18 points), Power (-34 points) and Banks (-24 points).

Volumes increased further from 207.8 million shares to 308.1 million shares (+48 percent DoD). Average traded value also increased by 2 percent to reach US$ 55.6 million as against US$ 54.4 million.

Stocks that contributed significantly to the volumes include WTL, MLCF, LOTCHEM, TRG and EPCL, which formed 42 percent of total volumes.

Stocks that contributed positively include ENGRO (+32 points), MCB (+32 points), SNGP (+21 points), INDU (+14 points) and COLG (+9 points).

Stocks that contributed negatively include HUBC (-43 points), UBL (-19 points), LUCK (-15 points), FFC (-13 points), and HBL (-12 points).

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.