Tag: KSE-100

KARACHI: The stock market gained 435 points on Wednesday owing to lower than anticipated inflation numbers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,244 points as against 29,810 points showing an increase of 435 points.

Analysts at Arif Habib Limited said that the release of Consumer Price Index (CPI) data proved to be required stimulus that the investors were waiting for.

Latest release of CPI indicates a lower than anticipated reading and gave confidence to the view that SBP will likely consider revising down the policy rate.

Buying activity was observed almost across the board with the exception of banking sector scrips, which kept the blue chips in banking sector universe in red and the main reason behind -342 points earlier in the session.

In totality, the index spiked by 568 points by close of session and ended at +557 points (unadjusted). Cement sector led the upsurge in index, which was supported by O&GMCs and E&P sectors where OGDC and PPL also hit upper circuit.

Sectors that led the volumes table included Cement (29.2 million), Banks (18 million) and Technology (13.5 million). Among scrips, MLCF (11.4 million), FCCL (9.9 million) and UNITY (9.4 million) contributed to the performance.

Sectors contributing to the performance include E&P (+148 points), Cement (+81 points), Fertilizer (+56 points), O&GMCs (+46 points), Power (+20 points), Banks (-33 points).

Volumes doubled from 64 million shares to 128.7 million shares (+101 percent DoD). Average traded value also increased by 100 percent DoD to reach US$ 31.2 million as against US$ 15.6 million.

Stocks that contributed significantly to the volumes include MLCF, FCCL, UNITY, WTL and LOTCHEM, which formed 35 percent of total volumes.

Stocks that contributed positively include ENGRO (+61 points), OGDC (+56 points), PPL (+54 points), LUCK (+46 points) and MCB (+39 points). Stocks that contributed negatively include BAHL (-38 points), MEBL (-25 points), FFC (-17 points), NBP (-7 points), and HBL (-7 points).

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KSE-100 falls by 248 points on selling pressure

KARACHI: The stock market fell 248 points on Tuesday on selling pressure at the closing.

The benchmark KSE-100 index closed at 29,810 points as against 30,057 points showing a decline of 248 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with 25 points and extended gains till 190 points after which selling activity caused the index to plunge by 318 points.

Last half hour of market kept the selling pressure, ending the session with -248 points. OGDC, PPL performed well earlier in the session and showed gains over yesterday’s closing, however, profit booking caused the stocks to retreat with a closure below LDCP.

Other than E&P, Cement, Fertilizer and Banking sector added fuel to selling pressure.

Cement sector led the volumes table with 11 million shares, followed by Technology (9.2 million) and E&P (4.7 million).

Among scrips, MLCF garnered 6.2 million shares, followed by WTL (4.5 million) and UNITY (4.2 million).

Sectors contributing to the performance include Banks (-70 points), Cement (-49 points), Power (-41 points), E&P (-21 points), and Pharma (-19 points).

Volumes declined further from 77.4 million shares to 63.9 million (-17 percent DoD). Average traded value also declined by 6 percent to reach US$ 15.6 million as against US$ 16.5 million.

Stocks that contributed significantly to the volumes include MLCF, WTL, UNITY, TRG and OGDC, which formed 34 percent of total volumes.

Stocks that contributed positively include SNGP (+8 points), NML (+7 points), MUREB (+6 points), AICL (+6 points) and DAWH (+5 points). Stocks that contributed negatively include HUBC (-35 points), LUCK (-31 points), MCB (-26 points), PPL (-20 points), and MEBL (-14 points).

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Stock market gains 385 points amid fault at opening

KARACHI: The stock market gained 385 points on Monday after witnessing technical fault at the opening of trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,057 points as against 29,672 points showing an increase of 385 points.

Analysts at Arif Habib Limited said that after encountering a technical glitch at start, the index progressed well during the day, led by across the board buying activity in E&P, Banks, Cement and Steel Sectors.

The main reason behind the surge in index can be attributed to resolution a host of measures approved by SECP over the weekend that helped investors take a positive view on equities.

Besides, expectation of lower inflation reading going forward that hints of reduction in SBP policy rate.

Overall, the index went high by 506 points during the session and although receded later but rebounded market close.

Sectors contributing to the performance include Commercial Banks (+130 points), E&P (+71 points), OGMC (+37 points) and Fertilizer (+35 points).

Volumes decreased from 110 million shares to 77.4 million shares. Average traded value decreased by 34.7 percent to reach $16.5 million as against $25.3 million.

Stocks that contributed significantly to the volumes include WTL, MLCF, OGDC, KEL and TRG, which formed 39 percent of total volumes.

Stocks that contributed positively include PPL (+46 points), BAHL (+32 points), FFC (+27 points), UBL (+26 points) and HBL (+23 points). Stocks that contributed negatively include THALL (-8 points), MUREB (-7 points), MTL (-3 points), HASCOL (-3 points) and MARI (-2 points).

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Weekly Review: Bulls likely return on attractive levels

KARACHI: The stock market may witness bullish trends during the next week after bears dominated the current week, analysts said.

Analysts at Airf Habib Limited said expect that the market to remain positive in the upcoming weeks since valuations have opened up to attractive levels.

Moreover, the government intends to issue Rs200 billion Sukuks so as to address problems of power sector. Any development in this regard will serve as a positive trigger for the market. With foreign reserves and external accounts improving as well as stability on PKR/USD front, they expect foreign interest to revive.

The market commenced on a negative note this week, carrying the pressure from last Friday since Asia Pacific Group kept Pakistan on enhanced monitoring mechanism. Moreover, privatization commission’s decision to divest some portion of government’s stake in State Owned Companies such as OGDC, PPL, KAPCO and PAKRI kept the sentiment weak.

However, amendment in GIDC Act 2015, giving 50 percent waiver to Fertilizer, Chemical, Cement and Textile Companies, cushioned the dip. Albeit, the market closed at 29,672 points down by a massive 1,678 points (5.4 percent WoW).

Sector-wise negative contributions came from i) Oil & Gas Exploration Companies (519 points) ii) Commercial Banks (400 points), iii) Oil & Gas Marketing Companies (160 points), iv) Cement (139 points), and v) Power Generation & Distribution (216 points). Scrip-wise negative contributions were led by OGDC (247 points), PPL (193 points), HBL (134 points), BAHL (79 points) and PSO (63 points).

Foreign buying was witnessed this week clocking-in at USD 0.97 million compared to a net sell of USD 4.97 million last week. Buying was witnessed in Commercial Banks (USD 2.5 million) and Technology and Communication (USD 1.0 million).

On the domestic front, major selling was reported by Mutual Funds (USD 13.5 million), however Individuals remained net buyers of USD 7.8mn. Average Volumes settled at 124mn shares (down by 29 percent WoW) while average value traded clocked-in at USD 29 million (down by 23 percent WoW).

KARACHI: The stock market fell by 487 points on Friday as bearish trend prevailed on major scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,672 points as against 30,159 points showing a decline of 487 points.

Analysts at Arif Habib Limited said that the market traded in a narrow band of +/-150 points during the first session, and closed the session at -86 points.

Bearish pressure carried on in E&P sector from yesterday and saw appointment of financial advisor by Privatization Commission for OGDC and PPL.

Besides, Fertilizer Sector that came out as winner due to resolution of GIDC issue, also came under fire with significant declines in prices from yesterday’s close. O&GMCs, E&P, Fertilizer, Cement sectors saw selling activity, with Technology sector leading the volumes table with 13.4 million shares, followed by Power (12.8 million) and Cement (11.6 million).

Among scrips, KEL realized the most volume with 10 million shares, followed by WTL (5.3 million) and MLCF (4.7 million).

Sectors contributing to the performance include E&P (-126 points), Fertilizer (-106 points), Power (-80 points), Banks (-71 points), O&GMCs (-45 points), Tobacco (+31 points), Inv Banks (+19 points), Food (+18 points).

Volumes declined further from 118.6 million shares to 110.0 million shares (-7 percent DoD). Average traded value also declined by 10 percent to reach US$ 25.3 million as against US$ 27.9 million.

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

Stocks that contributed positively include PAKT (+31 points), MCB (+26 points), DAWH (+19 points), NESTLE (+14 points) and MUREB (+9 points). Stocks that contributed negatively include OGDC (-58 points), HUBC (-56 points), PPL (-51 points), and FFC (-39 points).

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Stock market ends down by 479 points on selling pressure

KARACHI: The stock market shed 479 points on Thursday owing to selling in major scrips.

The benchmark KSE-100 Index of Pakistan Stock Exchange closed at 30,159 points as against 30,638 points showing a decline of 479 points.

Analysts at Arif Habib Limited said that quite an eventful day it was, from divestment of GOP’s stakes in OGDC and PPL to resolution of GIDC issue for Fertilizer Sector and HASCOL’s result announcement.

Re-iteration of GOP’s intent to divest shares of OGDC (7 percent) and PPL (10 percent) with a host of other transactions in Bank and Power sector, caused selling pressure in both OGDC and PPL, which by the end of session resulted in PPL hitting lower circuit, whereas OGDC also saw activity near lower circuit.

For good part of the session, the index saw oscillation of +171 points and -250 points, including the episode of resolution of GIDC issue that is considered mainly positive for the Fertilizer Sector.

Resultantly, FFC and FFBL hit upper circuits but saw selling pressure at Market on Close (MOC). HASCOL also announced results that caused investors to sell at lower circuit.

Selling pressure mounted by the end of session, which resulted in market realizing a total loss of 527 points with the index closing at -497 points (unadjusted).

Sectors contributing to the performance include E&P (-156 points), Banks (-132 points), Cement (-59 points), O&GMCs (-41 points), Power (-38 points), Fertilizer (+73 points).

Volumes declined from 149 million shares to 118.4 million shares to. Average traded value also declined by 19 percent to reach US$ 27.8 million as against US$ 34.2 million.

Stocks that contributed significantly to the volumes include LOTCHEM, KEL, WTL, PAEL and OGDC, which formed 29 percent of total volumes.

Stocks that contributed positively include FFC (+67 points), EFERT (+13 points), DAWH (+12 points), FFBL (+6 points) and FATIMA (+4 points). Stocks that contributed negatively include OGDC (-70 points), PPL (-65 points), HBL (-40 points), UBL (-27 points) and LUCK (-26 points).

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Stock market gains 53 points amid selling pressure

KARACHI: The stock exchange gained 53 points on Wednesday after selling pressure eroded earlier day gain of over 500 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,638 points as against 30,585 points showing an increase of 53 points.

Analysts at Arif Habib Limited said that in a diametrically opposite fashion, compared with yesterday, the index erased all the gains made earlier during the session today when market went up by 528 points.

Market on Close (MOC) saw selling pressure that brought the index in red towards -33 points but closed at +53 points.

The uptrend earlier during the session was contributed by Refinery, Steel, Autos, Fertilizer and Cement sectors whereby index heavy weight scrips traded near upper circuit and blue chips in Refinery and Steel hit upper circuit.

Cement sector led the volumes table again with 20.5 million shares followed by Banks (15.5 million) and Chemical (15.5 million). Among scrips, KEL topped the volume with ~10 million shares, followed by MLCF (8.4 million) and UNITY (7.1 million).

Sectors contributing to the performance include Commercial Banks (+36 points), E&P (+36 points), Fertilizer (+31 points) and Tobacco (+18 points).

Volumes increased from 119.8 million shares to 149.0 million shares (+24.4 percent DoD). Average traded value however, increased by 1.5 percent to reach US$ 34.2 million as against US$ 33.7 million.

Stocks that contributed significantly to the volumes include KEL, MLCF, UNITY, LOTCHEM and TRG, which formed 25 percent of total volumes.

Stocks that contributed positively include ENGRO (+31 points), UBL (+29 points), POL (+25 points), PAKT (+18 points) and MEBL (+17 points).

Stocks that contributed negatively include DAWH (-16 points), NESTLE (-15 points), COLG (-11 points), KEL (-10 points) and HMB (-9 points).

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KSE-100 gains 64 points amid mixed trading

KARACHI: The KSE-100 index ended with gain of 64 points on Tuesday after mixed trading activities on Pakistan Stock Exchange (PSX).

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KARACHI: The stock market witnessed bearish sentiments on Monday after significant gains during the last week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,521 points as against 31,350 points showing a decline of 829 points.

Analysts at Arif Habib Limited said that start of the rollover week marked the return of pain for investors.

Market ended the session at a bearish note with an intraday slide of 939 points.

Selling pressure was observed across the board, with major pressure in E&P, Cement, Power and Steel sectors.

Crude oil prices hinted a decline, which triggered the selling in E&P Stocks. LOTCHEM announced financial results today, and posted a hefty bottom line, resulting in largest volumes on the bourse with price gains, which were kept in check by overall slide in market.

Prime Minister is also scheduled to address the nation in the evening, which also hinted a tough tone on Pakistan-India confrontation, although the major drive behind today’s sell-off appears more of a short-covering strategy by short sellers and should subside in the coming sessions.

Sectors contributing to the performance include E&P (-208 points), Banks (-142 points), Fertilizer (-118 points), Cement (-89 points) and O&GMCs (-64 points).

Volumes declined significantly from 230.7 million shares to 122.1 million shares (-47 percent DoD). Average traded value also declined by 47 percent to reach US$ 24.1 million as against US$ 45.8 million.

Stocks that contributed significantly to the volumes include LOTCHEM, BOP, MLCF, KEL and PAEL, which formed 36 percent of total volumes.

Stocks that contributed positively include PAKT (+29 points), BAFL (+3 points), FATIMA (+2 points), GSKCH (+2 points) and LOTCHEM (+2 points). Stocks that contributed negatively include OGDC (-84 points), PPL (-70 points), ENGRO (-68 points), LUCK (-48 points) and HUBC (-46 points).

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Weekly Review: foreign interest to revive amid improving external account balance

KARACHI: The stock market may slow down during next week but overall sentiments would remain positive, analysts said.

Analysts at Arif Habib Limited expect that the market momentum to slow down amid profit-taking.

“The overall sentiment to remain positive with investors continuing to accumulate scrips at current attractive valuations,” they added.

Further, foreign interest is likely to revive amid improving external account balance and strengthening foreign exchange reserves.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) sharply bounced back this week with a positive weekly return after a long six-week bloodbath.

Participation in the index also increased with volumes witnessing a drastic surge compared to recent trends.

The index closed at 31,350 points, rising 2585 points WoW (9 percent WoW) which is the highest weekly return ever in terms of points.

The stellar inflection of the index was long over-due with valuations nose-diving to dirt cheap levels.

Moreover, improving trend of the external account balance further rejuvenated sentiment, with the Current Account Deficit declining 73 percent YoY/37 percent MoM during July 2019 (USD 579 million).

The latest PIB auction saw raising of Rs434 billion against a target of Rs100 billion with cut-off yields declining by 25 bps and 40 bps for the 5-Yr and 10-Yr PIBs respectively, indicating that the markets see interest rates to have peaked.

Reduction in the cut-off yields is likely to have a positive bearing on equity valuations.

That said, the last trading session saw a decline of 534 points primarily attributable to profit-taking.

Sector-wise positive contributions were led by i) Commercial Banks (744 points) ii) Oil & Gas Exploration Companies (469 points), iii) Fertilizer (319 points), Cement (235 points), and v) Power Generation & Distribution (216 points).

Scrip-wise positive contributions came from ENGRO (256 points), OGDC (205 points), HBL (188 points), HUBC (160 points) and MCB (147 points).

Foreign selling was witnessed this week clocking-in at USD 4.97 million compared to a net buy of USD 1.70 million last week.

Selling was witnessed in Exploration & Production (USD 6.0 million) and fertilizer (USD 0.8 million). On the domestic front, major buying was reported by Individual (USD 6.5 million) and Broker Proprietary Trading (USD 3.8 million).

Average Volumes settled at 174 million shares (up by 135 percent WoW) while average value traded clocked-in at USD 38 million (up by 83 percent WoW).