Tag: KSE-100

KARACHI: The equity market likely to stay in red due to pessimism on high inflation, which created impressions the rate may not be cut in near future.

Analysts at Arif Habib Limited forecast that the market to remain in the red following pessimism created from high inflation readings which have led to apprehensions over the rate cut which may not materialize soon.

Moreover, shortfall in tax revenue targets (PKR 750bn shortfall expected for FY20) have added to concerns over the fiscal deficit recovery as well as possibility of more tax revenue measures.

The KSE-100 index is currently trading at a PER of 7.0x (2020) compared to Asia Pac regional average of 12.2x and while offering DY of around 6.8 percent versus around 2.8 percent offered by the region.

Correction phase seems to have set in, with the benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) trading in the red another week. Aggravated inflationary pressure (14.6 percent YoY for Jan’20 – 10-Yr high) and turmoil in global markets following the outbreak of the Corona Virus have been the primary reasons behind the continuation of the selling spree in the local bourse.

Further stress was created in the market from the rise in bond yields following the latest PIB auction in which the 3-Yr Bond cut-off yield increased by 30 bps to 12.05 percent, 5-Yr Bond yield increased by 21 bps to settle at 11.4 percent and the 10-Yr bond yield increased by 10 bps to 11 percent.

The KSE-100 Index closed at 40,144 points (down 1,487 points WoW).

Sector-wise negative contributions came from i) Oil & Gas Exploration Companies (-376ts), ii) Commercial Banks (-241 points), iii) Oil & Gas Marketing Companies (-150 points), iv) Fertilizer (-140 points), and v) Cement (-125 points). Scrip-wise negative contributions were led by PPL (-158 points), OGDC (-125 points), HBL (-104 points), PSO (-74 points) and DAWH (-57 points).

Foreign selling this week clocked-in at USD 14.2 million compared to a net buy of USD 8.0 million last week. Selling was witnessed in Cement (USD 7.0 million) and Exploration & Production (USD 5.1 million).

On the domestic front, major buying was reported by Insurance Companies (USD 13.7 million) and Individuals (USD 7.7 million). Average Volumes settled at 168 million shares (down by 11 percent WoW) while average value traded clocked-in at USD 45 million (down by 1 percent WoW).

KARACHI: The equity market fell by 160 points on Thursday owing to selling pressure was seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,724 points as against 40,884 points showing a decline of 160 points.

Analysts at Arif Habib Limited said that the market opened on a positive note and went up by 278 points during the session, which was mainly contributed by Oil and Gas sector scrips, E&P and OMCs.

International crude prices prompted investors to build positions in oil and gas chain, however, selling pressure brought prices down and index moved downwards by 200 points.

Chemical sector, on the other hand, performed well on the bourse, with LOTCHEM hitting upper circuit earlier in the session (on the back of better product margins) and maintained that position throughout.

Similarly, EPCL, DOL and other chemical sector stocks gained traction from renewed interest by investors. Chemical sector led the volumes table with 18.5 million shares followed by Banks (17.8 million) and Cement (17 million).

Among scrips, HASCOL led the volumes with 11.2 million, followed by LOTCHEM (8.9 million) and BOP (8.3 million).

Sectors contributing to the performance include Power (-65 points), E&P (-42 points), O&GMCs (-40 points) and Inv Banks (-13 points) and Cement (-6 points).

Volumes declined from 146.2 million shares to 127.8 million shares (-13 percent DoD). Average traded value also declined by 4 percent to reach US$ 38.0 million as against US$ 39.6 million.

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

Stocks that contributed positively include HBL (+43 points), BAFL (+16 points), POL (+14 points), PAKT (+11 points) and SYS (+11 points). Stocks that contributed negatively include HUBC (-61 points), MCB (-38 points), OGDC (-30 points), PPL (-24 points), and PSO (-22 points).

KARACHI: The stock market made recovery of 475 points on Tuesday as stocks of banking sector registered gain during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,884 points as against 40,409 points showing an increase of 475 points.

Analysts said that the market staged a recovery after a major draw down of 1222 points yesterday and largely remained positive throughout the session barring -60 points earlier in the session.

Overall, the Index moved up by 544 points and closed the session at +475 points.

Banking sector played an important role in market recovery MCB’s result announcement further helped the other banking sector stocks to post gains.

Resultantly, Banking sector posted trading volumes of 27.1 million shares, followed by Cement (21.7 million) and O&GMCs (19.9 million).

Among scrips, BOP topped the charts with 16.4 million shares, followed by HASCOL (15.7 million) and UNITY (8.3 million).

Sectors contributing to the performance include Banks (+217 points), Power (+83 points), Fertilizer (+62 points), Cement (+44 points) and O&GMCs (+33 points).

Volumes declined from 203.3 million shares to 146.1 million shares (-28 percent DOD). Average traded value also declined by 33 percent to reach US$ 39.7 million as against US$ 59.2 million.

Stocks that contributed significantly to the volumes include BOP, HASCOL, UNITY, KEL and DGKC, which formed 38 percent of total volumes.

Stocks that contributed positively include MCB (+84 points), HUBC (+67 points), ENGRO (+47 points), UBL (+44 points) and BAHL (+30 points). Stocks that contributed negatively include PAKT (-27 points), PPL (-17 points), HBL (-8 points), JLICL (-5 points), and INDU (-3 points).

KARACHI: The stock market plunged by 1222 points or three percent on Monday owing to higher than expected inflation numbers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,409 points as against 41,631 points showing a decline of 1222 points.

Analysts at Arif Habib Limited said that the market saw a significant drawdown of around 1400 points during the session and closed negative 1222 points.

Over the weekend, worse than anticipated Inflation caused concern amongst investors, which were otherwise anticipating a rate cut just last week, before the announcement of monetary policy.

However, the prospects of a rate cut got dampened by the latest release of inflation statistics.

Declining international crude prices added to the woes of investors and significant dip in oil stocks was also observed. Banking sector stocks realized trading volumes of 40.7 million shares, followed by Cement (27.4 million) and Technology (26.4 million).

Among scrips, BOP led the trading volumes with 23.5 million shares followed by HASCOL (12.7 million) and MLCF (11.9 million).

Sectors contributing to the performance include Banks (-320 points), E&P (-271 points), Fertilizer (-137 points), Cement (-98 points) and O&GMCs (-71 points).

Volumes increased from 193.9 million shares to 203.1 million shares (+5 percent DoD). Average traded value also increased by 15 percent to reach US$ 59.1 million as against US$ 51.2 million.

Stocks that contributed significantly to the volumes include BOP, HASCOL, MLCF, UNITY and WTL, which formed 31 percent of total volumes.

Stocks that contributed positively include SYS (+12 points), DCR (+1 points), and ATLH (+0 points). Stocks that contributed negatively include PPL (-111 points), HBL (-97 points), ENGRO (-91 points), OGDC (-82 points), and MCB (-74 points).

KARACHI: The trading activities at the Pakistan Stock Exchange (PSX) likely range bound during the next week over talks between IMF and the Pakistan authorities for release of third tranche.

Analysts at Arif Habib Limited said that the market appears range bound in the mid-term with IMF commencing talks with the Pakistani team next week over release of its third tranche under the $6 billion EFF.

Moreover, local investors await final verdict of the FATF next month whereby decision over Pakistan’s status (White, Grey or Black) will be taken.

With that said, long term prospects appear upbeat given improvement in the external account and stable PKR-USD parity.

The benchmark KSE-100 index of the PSX is currently trading at a PER of 7.2x (2020) compared to Asia Pac regional average of 11.9x and while offering DY of ~6.6 percent versus ~2.8 percent offered by the region.

With fear of contagion of the Chinese Corona virus across the world, global equities staged a slide with the local equity bourse following suit.

This was primarily marked by lower crude prices at the beginning of the week, which kept the index-heavy E&P stocks under pressure. In addition, the SBP kept its benchmark policy rate unchanged in the latest monetary policy statement which triggered select Cement and Steel (leveraged) scrips to tumble during mid-week.

Finally, concerns over rising inflationary readings and political pressure has also kept the index dull. The KSE-100 Index closed at 41,631 points (down by 1,002 points; 2.4 percent WoW).

Sector-wise negative contributions came from i) Commercial Banks (-431ts), ii) Oil & Gas Exploration Companies (-303 points), iii) Power Generation & Distribution (-113 points), iv) Cement (-66 points), and v) Fertilizer (-41 points). Scrip-wise negative contributions were led by MCB (-126 points), PLL (-108 points), UBL (-97 points), HBL (-96 points) and HUBC (-95 points).

Foreign selling this week clocking-in at USD 8.0 million compared to a net buy of USD 4.8 million last week. Selling was witnessed in Cement (USD 4.2 million) and Textile composite (USD 1.3 million).

On the domestic front, major buying was reported by Individuals (USD 9.8 million) and Broker Proprietary Trading (USD 2.0 million). Average Volumes settled at 188 million shares (down by 1 percent WoW) while average value traded clocked-in at USD 46 million (down by 7 percent WoW).

KARACHI: The stock market fell by 273 points on Friday as selling pressure seen in energy scrips. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,631 points as against 41,904 points showing a decline of 273 points.

Analysts at Arif Habib Limited said that the market traded in a range today between +234 points and -345 points and closed the session -273 points.

Despite slight recovery in international crude oil prices, Oil & gas chain remained subdued with E&P stocks declining further by approximately 2 percent on average. Similarly, PSO showed selling pressure.

Fertilizer Companies, EFERT and FFC are said to announce a cut in Price of Urea by Rs150/bag and Rs. 300/bag respectively and caused selling in Fertilizer scrips.

Technology sector posted 33.3 million trading volume, followed by O&GMCs (27.6 million) and Vanaspati (24 million). Among scrips, UNITY led the table with 24 million shares, followed by HASCOL (23.5 million) and TRG (12.4 million).

Sectors contributing to the performance include Banks (-120 points), E&P (-100 points), Cement (-46 points), Tobacco (+32 points) and Technology (+13 points).

Volumes increased from 162.3 million shares to 193.4 million shares (+19 percent DoD). Average traded value also increased by 15 percent to reach US$ 51 million as against 44.3 million.

Stocks that contributed significantly to the volumes include UNITY, HASCOL, TRG, AVN and BOP, which formed 42 percent of total volumes.

Stocks that contributed positively include PAKT (+28 points), HASCOL (+12 points), SYS (+12 points), MUREB (+10 points) and ISL (+5 points). Stocks that contributed negatively include PPL (-38 points), UBL (-31 points), LUCK (-30 points), OGDC (-28 points), and HBL (-27 points).

KARACHI: The stock market ended flat on Thursday amid mixed trading sessions, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,903 points as against 41,899 points showing an increase of 5 points.

Analysts at Arif Habib Limited said that the market dipped again by 351 points during the session, but staged a recovery and closed the session +5 points.

LUCK’s result at the opening bell, brought some relief to the sellers in past couple of sessions in which LUCK came down from ~500.

LUCK’s price rebounded after touching day’s low of 468.80 and closed 484.50. Cement sector largely traded positive, same as Fertilizer sector stocks.

Oil chain and Banking sector again faced selling pressure almost across the board. Technology sector led the volumes with 32.2 million shares, followed by Banks (26.9 million) and Cement (20.5 million).

Among scrips, BOP realized 17.9 million shares, followed by AVN (15.9 million) and UNITY (10 million).

Sectors contributing to the performance include E&P (-52 points), Banks (-44 points), Power (-26 points), Chemical (-18 points), Inv Banks (+54 points), Cement (+37 points) and Fertilizer (+22 points).

Volumes declined from 197.2 million shares to 162.2 million shares (-18 percent DoD). Average traded value also declined by 8 percent to reach US$ 44.3 million as against US$ 47.9 million.

Stocks that contributed significantly to the volumes include BOP, AVN, UNITY, HASCOL and WTL, which formed 37 percent of total volumes.

Stocks that contributed positively include DAWH (+54 points), LUCK (+32 points), ENGRO (+26 points), HBL (+13 points) and SYS (+11 points). Stocks that contributed negatively include HUBC (-30 points), MCB (-23 points), UBL (-20 points), COLG (-18 points), and BAHL (-17 points).

KARACHI: The stock market plunged by 400 points on Wednesday as no reduction in policy rate by the central bank disappointed investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,899 points as against 42,299 points showing a decline of 400 points.

Analysts at Arif Habib Limited said that following yesterday’s slide, the market went down by another 400 points.

The decision of State Bank of Pakistan (SBP) of not cutting the rates at this stage caused concern amongst investors and resulted in booking profits in Cement, Steel sectors.

On the contrary, E&P and OMCs performed better in relative terms on the back of slight improvement in international crude oil prices.

Start of market saw FFBL announcing financial results which were poorer than anticipation and caused the share price declining to lower circuit.

Technology sector topped the volumes with 34.3 million shares, followed by Cement (26.1 million) and Banks (23.9 million). WTL realized trading volume of 22.7 million shares, whereas HASCOL realized (17.9 million) and MLCF (10.8 million).

Sectors contributing to the performance include Banks (-148 points), Cement (-69 points), Fertilizer (-53 points), Power (-31 points), and Inv Banks (-21 points).

Volumes increased by 4 percent to reach 197.1 million shares as against 189 million. Average traded value increased by 10 percent to reach US$ 47.9 million as against US$ 43.4 million.

Stocks that contributed significantly to the volumes include WTL, HASCOL, MLCF, KEL and FFBL, which formed 35 percent of total volumes.

Stocks that contributed positively include OGDC (+12 points), BAHL (+9 points), ISL (+5 points), SRVI (+3 points) and GLAXO (+3 points). Stocks that contributed negatively include HBL (-62 points), MCB (-44 points), LUCK (-38 points), UBL (-30 points), and ENGRO (-25 points).

KARACHI: The stock market fell by 240 points on Tuesday owing to selling pressure seen in various scrips. The benchmark KSE-100 index of Pakistan Stock Exchange closed at 42,299 points as against 42,539 points showing a decline of 240 points.

Analysts at Arif Habib Limited said that the market dipped today by 386 points during the session and closed the session -240 points after staging a short recovery.

Cement sector continued performing well, whereas Oil & Gas chain remained under pressure due to decline in International crude oil prices.

Global stock markets have roiled due to the outbreak of NCV in China that also affected commodity markets.

Banking sector stocks also sustained selling pressure that kept the stock prices on the lower side.

Cement sector continued leading the volumes on the bourse with 60.9 million shares, followed by O&GMCs (27.6 million) and Banks (12.4 million).

Among scrips, MLCF led the table with 29.7 million shares, followed by HASCOL (25.4 million) and UNITY (9.9 million).

Sectors contributing to the performance include Banks (-103 points), E&P (-50 points), Fertilizer (-42 points), Inv Banks (-20 points), Chemical (+23 points), Autos (+16 points).

Volumes dipped by 5 percent to reach 189.0 million shares against 198.5 million the other day. Average traded value, however, increased by 2 percent to reach US$ 43.4 million as against US$ 42.5 million.

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

Stocks that contributed positively include ICI (+12 points), EPCL (+9 points), INDU (+8 points), ATLH (+5 points) and HCAR (+5 points). Stocks that contributed negatively include HBL (-34 points), MCB (-26 points), PPL (-22 points), DAWH (-19 points), and ENGRO (-18 points).

KARACHI: The stock market ended down by 94 points on Monday as it witnessed a narrow range trading. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,539 points as against 42,633 points showing a decline of 94 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range of +105 points and -161 points, closing the session 94 points down from LDCP.

International crude price were significantly down at the opening that caused selling pressure in E&P stocks.

Likewise, rest of the oil & gas chain bore pressure among Refineries and OMCs.

Cement sector, on the other hand, performed well with MLCF and KOHC hitting upper circuits, whereas other Cement stocks also trudged well.

Cement sector led the volumes table with 66 million shares, followed by Transport (35.1 million) and Food (18.9 million).

Among scrips, MLCF topped the volumes with 25.9 million shares, followed by PIBTL (25.2 million) and FCCL (12.1 million).

Sectors contributing to the performance include EP (-93 points), Power (-37 points), Textile (-15 points), Banks (-14 points, Fertilizer (+40 points) and Cement (+19 points).

Volumes registered an increase from 173.4 million shares to 198.5 million shares (+14 percent DoD).

Average traded value declined by 3 percent to reach US$ 42.5 million as against US$ 43.5 million.

Stocks that contributed significantly to the volumes include MLCF, PIBTL, FCCL, PIAA and DGKC, which formed 42 percent of total volumes.

Stocks that contributed positively include ENGRO (+29 points), HBL (+15 points), FFC (+15 points), PIBTL (+9 points) and MLCF (+8 points).

Stocks that contributed negatively include OGDC (-41 points), HUBC (-31 points), POL (-24 points), PPL (-22 points), and MEBL (-15 points).