KARACHI: The share market fell by 265 points on Wednesday owing to selling pressure in major scrip witnessed during the day.

The Index closed at 33,728 points as against 33,993 points showing a decline of 265 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +114 points but could not sustain selling pressure, which brought the index down in negative territory and witnessed a decline of 317 points.

The index made some recovery by the end of session and closed -264 points.

Banks, Cement and E&P stocks weathered selling pressure regardless of international crude oil prices.

Fertilizer stocks traded no different than the rest and saw decline in stock prices.

Among Banks, HBL saw low prices due to MSCI rebalancing and concerns among investors about a possible exit.

Technology stocks managed to post the highest volumes with 28.9 million shares, followed by O&GMCs (28.2 million) and Cement (24.1 million).

Among scrips, HASCOL topped with 23.8 million shares, followed by UNITY (20.4 million) and TRG (14.5 million).

Sectors contributing to the performance include Banks (-99 points), Cement (-53 points), E&P (-39 points), Fertilizer (-34 points), Power (-34 points).

Volumes declined from 261 million shares to 208.9 million shares (-20 percent DoD). Average traded value also declined by 22 percent to reach US$ 45.1 million as against US$ 57.6 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, TRG, MLCF and PIBTL, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include NESTLE (+9 points), TRG (+8 points), BAFL (+6 points), SHEL (+6 points) and ANL (+6 points).

Stocks that contributed negatively include MCB (-56 points), HBL (-42 points), HUBC (-36 points), LUCK (-24 points), and FFC (-18 points).

KARACHI: The stock market gained 76 points on Tuesday amid profit taking during the day.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 33,993 points as against 33,917 points showing an increase of 76 points.

Analysts at Arif Habib Limited said that courtesy of crudes’ performance in the international market, KSE-100 posted decent gains during the session, realizing +469 points and closing the session +76 points.

E&P and OMCs remained in the limelight but also saw profit booking near yesterday’s levels and caused OGDC and PPL to settle low.

Cement and Fertilizer sectors saw further weakness, whereas Banks also contributed to downside in Index. Cement sector topped the chart with 58.4 million shares, followed by O&GMCs (38.7 million) and Technology (26.9 million). Among scrips, HASCOL realized trading volumes of 33.8 million shares, followed by UNITY (25.4 million) and FCCL (17.8 million).

Sectors contributing to the performance include E&P (+83 points), O&GMCs (+49 points), Food (+13 points), Cement (-39 points), Banks (-23 points).

Volumes increased from 216.5 million shares to 261 million shares (+21 percent DoD). Average traded value declined by 1 percent to reach US$ 57.6 million as against US$ 58.4 million.

Stocks that contributed significantly to the volumes include HASCOL, UNITY, FCCL, MLCF and PAEL, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include PPL (+34 points), ENGRO (+34 points), OGDC (+27 points), PSO (+23 points) and POL (+18 points). Stocks that contributed negatively include HBL (-33 points), FFC (-29 points), COLG (-19 points), EFERT (-10 points), and KTML (-10 points).

KARACHI: The stock market witnessed decline of 195 points on Monday amid profit taking during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,916 points as against 34,112 points showing a decline of 195 points.

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The Karachi Stock Exchange (KSE) experienced an extraordinary surge in April 2020, recording an impressive increase of 4,880 points. This translates into a return of +16.7 percent Month-on-Month (MoM) and +21.5 percent in USD terms, marking the best-performing month since March 2009.

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KARACHI: The share market is likely to continue gaining momentum during the next week owing to positive reports on economic front.

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KARACHI: The share market made sharp gain of 953 points on Thursday owing to expected rate cut and reports of ease in lockdown.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,112 points as against 33,159 points showing an increase of 953 points.

Analysts at Arif Habib Limited said that just before the long weekend, the market went north today with a jump of 1020 points during the session, closing +953 points, courtesy of rising crude oil prices, expectation of rate cut and relaxation in lockdown.

Activity was observed across the board, with major contribution from oil and gas stocks i.e. E&P, OMCs, with OGDC, PPL and POL hitting upper circuits and realizing high volume trades at that level.

Banking sector stocks remained relatively muted, whereas Cement, Fertilizer and Steel sectors made considerable stride forward.

Cement sector topped the chart with 53.6 million shares, followed by O&GMCs (45 million) and Cable (28.1 million).

Among scrips, HASCOL ranked first with 37.6 million shares, followed by PAEL (26.9 million) and MLCF (25.8 million).

Sectors contributing to the performance include E&P (+308 points), Banks (+137 points), Power (+94 points), Fertilizer (+87 points) and O&GMCs (+84 points).

Volumes increased from 140.5 million shares to 291.5 million shares (+107 percent DoD). Average traded value also increased by 61 percent to reach US$ 76.7 million as against US$ 47.6 million.

Stocks that contributed significantly to the volumes include HASCOL, PAEL, MLCF, PPL and UNITY, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include OGDC (+105 points), PPL (+93 points), HUBC (+82 points), POL (+64 points) and MCB (+50 points). Stocks that contributed negatively include PAKT (-12 points), DAWH (-11 points), PSEL (-9 points), SYS (-3 points), and PMPK (-2 points).

KARACHI: The stock market gained 605 points on Wednesday owing to positive sentiments prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,159 points as against 32,553 points showing an increase of 605 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +211 points at the opening bell.

The benchmark index gained 605 points during the session and closed at session’s high.

Oil stocks got traction from positive trend in international crude oil price (WTI) that increased by 14 percent and helped E&P stocks to post price gains.

Cement sector maintained the momentum throughout the day, except for realizing profit booking by the end of session, showing signs of regression in DGKC.

Banking sector stocks also stay muted amid low volumes, due to prospects of rate cut.

Cement sector posted highest trading volumes with 43.9 million shares, followed by O&GMCs (11.8 million) and E&P (10.8 million).

Among scrips, MLCF topped the volumes with 18.4 million shares, followed by HASCOL (8.2 million) and DGKC (7.3 million).

Sectors contributing to the performance include E&P (+177 points), Power (+121 points), Fertilizer (+85 points), Cement (+67 points), Inv Banks (+33 points) and Banks (-22 points).

Volumes declined from 157.9 million shares to 140.5 million shares (-11 percent DoD). Average traded value, on the contrary, increased by 31 percent to reach US$ 47.6 million as against US$ 36.3 million.

Stocks that contributed significantly to the volumes include MLCF, HASCOL, DGKC, EFERT and PIOC, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+116 points), OGDC (+61 points), POL (+50 points), FFC (+45 points) and LUCK (+39 points).

Stocks that contributed negatively include BAHL (-35 points), HBL (-12 points), NESTLE (-8 points), HMB (-4 points), and PSO (-2 points).

KARACHI: The stock market gained 239 points on Tuesday owing to expected lower inflation and possible further rate cut.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,553 points as against 32,315 points showing an increase of 239 points.

Analysts at Arif Habib Limited said that the market saw rebound of cement sector as the concerns over cement price / bag dissipated.

Upcoming data release on inflation and possible rate cut helped investors take a positive view on equities.

International crude oil prices edged lower, with WTI slipping below US$ 11/bbl that kept pressure on E&P stocks.

PSO, on the other hand, posted price gains during the session.

Banking sector stocks also saw selling pressure due to the view of rate cut.

Cement sector maintained top position in trading volumes with 59.6 million shares, followed by Vanaspati (20.5 million) and Banks (16.8 million).

Among scrips, MLCF led the trading volumes with 36.2 million shares, followed by UNITY (20.5 million) and DGKC (6.6 million).

Sectors contributing to the performance include Cement (+92 points), Power (+45 points), Food (+45 points), Fertilizer (+31 points), O&GMCs (+21 points), Banks (-39 points).

Volumes increased from 122.2 million shares to 159.4 million shares (+29 percent DoD). Average traded value also increased by 10 percent to reach US$ 36.1 million as against US$ 33 million.

Stocks that contributed significantly to the volumes include MLCF, UNITY, DGKC, BOP and HASCOL, which formed 48 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+49 points), ENGRO (+36 points), LUCK (+33 points), NESTLE (+23 points) and PSO (+20 points).

Stocks that contributed negatively include BAFL (-23 points), UBL (-19 points), HBL (-14 points), DAWH (-13 points), and PAKT (-12 points).

KARACHI: The trading activities in the stock market likely to stay range bound during next week due to commencement of the holy month of Ramazan.

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

With commencement of the month of Ramazan, volumes may dry down. While extension in lockdown by the Federal government to contain the spread of Corona may also build pressure on businesses and keep sentiment at the index lackluster.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2020) compared to Asia Pac regional average of 10.2x and while offering DY of around 8.5 percent versus around 3.1 percent offered by the region.

The market commenced on a positive note, continuing the unpreceded rally witnessed on last Friday over SBP’s surprise rate cut of 200bps.

Albeit, the euphoria was short lived with investors parring earlier gains as banks felt the heat of compression in NIMs while oil scrips tanked with international oil prices.

The local bourse displayed a mixed trend for the remainder of the week. Initially leveraged stocks gained traction (cements and steel; amid rate cut and news of potential price hikes) but market participants resorted to profit-taking by week-end as results disappointed.

Whereas sentiment of the banking sector was eroded with the State Bank barring banks from declaring dividends in the March and June quarter of the ongoing year so as to conserve capital.

Albeit, large banks posted gains the following day on clarity regarding disbursement provision in case of board approved dividends for the outgoing quarter. With that said, the KSE-100 closed at 32,806 points (down by 0.08 percent / 25 points WoW).

Sector-wise negative contributions came from i) Oil & gas exploration companies (-48.6 points), ii) Power generation and distribution (-43.8 points), and iii) Commercial banks (-43.5 points).

While positive contributions were led by i) Cement (128.2 points), ii) Fertilizer (63.9 points), and iii) Automobile assemblers (34.0 points).

Foreign offloading during the week arrived at USD 2.5 million compared to a net sell of USD 14.2 million last week. Selling was witnessed in Fertilizer (USD 4.8 million) and Banks (USD 4.1 million).

On the domestic front, major selling was reported by Individuals (USD 11.7 million) and Broker Proprietary (USD 4.7 million). Average Volumes settled at 261 million shares (up by 46.3 percent WoW) while average value traded clocked-in at USD 71 million (up by 88.5 percent WoW).