Tag: KSE-100

KARACHI: The stock exchange has registered significant gain of 837 points on Monday on upgrade of credit rating of Pakistan to stable from negative.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,124 points as against 39,287 points showing an increase of 837 points.

Analysts at Arif Habib Limited said that the market finally crossed 40,000 level today, which was last seen in February 2019.

Trading volumes also increased significantly to 557 million shares. International Ratings Agency, Moody’s has reportedly upgraded Pakistan’s outlook from Negative to Stable and affirmed B3 rating.

This further gave confidence to investors carrying the bull run witnessed from 36,000 level. Banking sector continued upbeat performance on the bourse with volumes crossing 110 million shares, followed by Cement (64.7 million) and Power (47 million). Among scrips, BOP led the volumes with 74.9 million shares, followed by KEL (40.8 million) and UNITY (37.7 million).

Sectors contributing to the performance include Banks (+516 points), Power (+73 points), O&GMCs (+53 points), Cement (+52 points), Textile (+36 points).

Volumes increased significantly from 431.8 million shares to 557.3 million shares (+29 percent DoD). Average traded value also increased by 14 percent to reach US$ 106.1 million as against US$ 93.2 million.

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

Stocks that contributed positively include HBL (+119 points), MCB (+92 points), UBL (+89 points), BAHL (+59 points) and HUBC (+51 points). Stocks that contributed negatively include OGDC (-49 points), PPL (-24 points), POL (-19 points), MTL (-8 points), and COLG (-7 points).

KARACHI: The stock market to remain positive during next week owing to inflows in treasury bills and improved macroeconomic position of the country, analysts said.

Analysts at Arif Habib Limited hoped that market to remain positive on the back of improving macroeconomic position, country witnessing foreign net inflows in T-bills to USD 1,154 million in FY20TD, declining fixed income yields, improvement in ease of doing business, stable market determined exchange rate since last four months around 156/USD, and likelihood of monetary easing to start soon.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2020) compared to Asia Pac regional average of 13.5x while offering a dividend yield of ~8.1 percent versus ~2.6 percent offered by the region.

During the outgoing week trading commenced on a positive note attributable to State Bank leaving discount rate unchanged which bode well for local bourse. However, the index lost -400 points on Tuesday as Honorable Supreme Court took notice on Army Chief’s appointment.

Meanwhile, index recovered after considering this appointment as a procedural issue along with continuous surge in foreign investment in T-Bills which crossed USD 1bn mark leading to rising foreign exchange reserves improving investor’s sentiments.

As a result, the benchmark KSE-100 index crossed 39K mark after eight months and closed at 39,288 points, increasing by 1,362 points or 3.59 percent WoW. During Nov’19, KSE-100 index increased by 5,084 points or 14.9 percent MoM (this is highest ever monthly return after May’13).

Contribution to the upside was led by i) Commercial Banks (+522 points) due to attractive valuation, ii) Cement (+120 points) amid robust sales numbers, iii) Fertilizer (+116 points), iv) Automobile Assemblers (+80 points), and v) Chemicals (+75 points).Scrip wise major gainers were HUBC (+132 points), FFC (+94 points), PSO (+40 points), LUCK (+32 points), and NATF (+29 points). Whereas, scrip wise major losers were HBL (-63 points), BAHL (-26 points), and PIBTL (-15 points).

Foreign offloaded stocks worth of USD 8.06 million compared to a net buy of USD 8.46 million last week. Major selling was witnessed in Cements (USD 3.36 million) and E&P (USD 1.95 million).

On the local front, buying was reported by Mutual Funds (USD 11.06 million) followed by Individuals (USD 7.30 million). That said, average daily volumes for the outgoing week were up by 5 percent to 348 million shares likewise value traded increased by 8 percent to USD 80 million.

KARACHI: The stock market gained 581 points on Friday despite buying activities in major scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,288 points as against 38,706 points showing an increase of 581 points.

Analysts at Arif Habib Limited said that the aarket went up again by +746 points during today’s sessions, following the resolution of General Bajwa’s extension, however, the market closed with +581 points.

Market saw brisk buying activity with major contribution from Banks.

Though E&P remained positive, even better performance was seen in Refinery and OMCs sectors.

Banks realized trading volume of 86 million shares, mainly contributed by BOP (51.8 million) and BIPL (12.8 million).

Chemical and Cement sectors trailed Banks with 37.7 million and 35.5 million shares respectively. Among scrips, BOP was followed by PAEL (20.1 million) and KEL (16.4 million).

Sectors contributing to the performance include Banks (+277 points), Power (+45 points), Cement (+31 points), Autos (+26 points) and Insurance (+25 points).

Volumes increased further from 348.5 million shares to 428.9 million shares (+23 percent DoD).

Average traded value also increased by 18 percent to reach US$ 92.6 million as against US$ 78.2 million.

Stocks that contributed significantly to the volumes include BOP, PAEL, KEL, BIPL and PIBTL, which formed 26 percent of total volumes.

Stocks that contributed positively include HBL (+97 points), UBL (+76 points), HUBC (+37 points), BAHL (+17 points) and BAFL (+17 points). Stocks that contributed negatively include SNGP (-7 points), MARI (-7 points), EFERT (-6 points), INIL (-4 points), and OGDC (-4 points).

KARACHI: The stock exchange gained 584 points on Thursday on buying activities and improved sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,706 points as against 38,123 points showing an increase of 584 points.

Analysts at Arif Habib Limited said that expectation of resolution of the controversy regarding COAS extension in Service helped Index recover, as Investors (largely Individuals and Corporates) have been buying the dips since last week.

Market opened on a positive note and reached +724 points. Activity was observed across the board with major activity being observed in Cement and Banks.

Profit booking was also seen during the day which brought the index down to +584 points and closed the session at that.

Auto sector has generally been rallying on the back of upcoming Auto Industrial Development Policy, where shares were seen hitting upper circuit in today’s session.

Cement sector led the volumes with 48.8 million shares, followed by Banks (40 million) and Engineering (36.5 million).

Among scrips, UNITY again topped the charts with 20.4 million shares, followed by PAEL (19.7 million) and TRG (15.8 million).

Sectors contributing to the performance include Banks (+91 points), Power (+75 points), Cement (+59 points), E&P (+48 points) and O&GMCs (+46 points).

Volumes staged a strong comeback with 348.2 million shares against 228.4 million the other day (+52 percent DoD).

Average traded value also increased by 52 percent to reach US$ 78.1 million as against US$ 51.5 million.

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

Stocks that contributed positively include HUBC (+68 points), PSO (+31 points), MCB (+30 points), LUCK (+29 points) and NBP (+23 points). Stocks that contributed negatively include SHFA (-7 points), HBL (-5 points), BAFL (-4 points), PMPK (-3 points), and PKGS (-3 points).

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).