Tag: KSE-100

KARACHI: The equity market fell by 825 points on Monday owing to profit taking in the last days of present year.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,008 points as against 40,833 points showing a decline of 825 points.

Analysts at Arif Habib Limited said that the market took a significant toll from the internal and external headwinds faced these days.

During MoC, index decline crossed -900 points, which built up throughout the day.

Market closed -825 points and closed the session with 274 stocks in decline. Selling was observed across the board, but was particularly seen in oil & gas chain.

PPL’s most anticipated discovery proved to be a miniscule one that dampened the investor sentiment.

Resultantly, PPL traded near lower circuits by the end of session. Cement sector led the volumes with 26.6 million shares, followed by Technology (23.1 million) and O&GMCs (22.7 million). Among scrips, WTL traded the most with 13.6 million shares, followed by HASCOLR (12.7 million) and UNITY (11.9 million).

Sectors contributing to the performance include Banks (-225 points), E&P (-174 points), Power (-71 points), Fertilizer (-66 points) and Inv Banks (-56 points).

Volumes declined from 180.7 million shares to 179.1 million shares (-1 percent DoD). Average traded value however, declined by 19 percent to reach US$ 44.9 million as against US$ 55.1 million.

Stocks that contributed significantly to the volumes include WTL, HASCOLR1, UNITY, FFL and FCCL, which formed 31 percent of total volumes.

Stocks that contributed positively include NESTLE (+9 points), INDU (+5 points), DGKC (+3 points), GHGL (+1 points) and INIL (+0 points). Stocks that contributed negatively include HBL (-93 points), PPL (-91 points), HUBC (-54 points), DAWH (-51 points), and OGDC (-49 points).

KARACHI: The stock market likely to cross 51,000 points during year 2020 owing to growth in earnings and justified price to earning ratio, analysts said on Monday.

The analysts at Arif Habib Limited in its report on Pakistan Strategy 2020, said that Pakistan equity market is expected to generate a total return of 25 percent during 2020.

They expect that the benchmark KSE-100 index of Pakistan Stock Exchange to reach 51,000 points by December 2020. The index target mapping methodology included: earnings growth; justified PER; and target price mapping.

The analysts believed that the balance of payments front is quite manageable now with continuous decline in imports, thanks to Pak Rupee depreciation and taxation measures at large to curb imports, along with several inflows planned for the next year tagged with hot money flows which are expected to lead towards continuous increase in reserves of State Bank of Pakistan (SBP).

The analysts said that the country has successfully managed to attract foreign investment in lucrative short term government papers. High yields coupled with strengthening currency have helped lure over $1.2 billion foreign investment in treasury bills, which is unprecedented in history. Further, this shows the confidence of foreign investors in the local currency parity and economic reforms, and could also trigger equities flows in the country in 2020.

Earnings growth in 2020 is estimated to be 14.4 percent, the double digit growth is attributable to earnings growth in heavy weight including commercial banks (41 percent), power (53 percent), fertilizers (12 percent) and E&P (10 percent), which have a cumulative around 61.7 percent weightage in the KSE-100 index. Higher net interest income coupled with stellar earning rebound in large banks shall stem growth in the banking sector, whereas power sector profitability mainly stem from CoD of HUBC’s 130MW coal-based power plant.

The analysts said that the local bourse is expected to amass strong returns in 2020 supported by ongoing PER re-rating hypothesis. The analysts view that firmness in external sector, stable foreign currency outlook, hot money inflows, increase in SBP foreign exchange reserves in external sector and strong earnings growth of over 14 percent will re-rate the market PE to ites mean average of 8.6x (14-year).

KARACHI: The stock market may gain on back of normal political conditions and hope of further improvements in economic indicators during next week.

Analysts Topline Securities said that after closing positively for seven consecutive weeks, KSE-100 index of Pakistan Stock Exchange (PSX) closed in red this week due to political pressures.

The index started on a positive note this week with momentum continuing from the previous week as expectation relating to the rollover of deposit amounting US$5 billion from UAE & Saudi Arabia was reported.

A decision by special court on former president Musharraf created a situation of conflict between judiciary and establishment which weighed negatively on investors.

However IMF has completed its first review of Pakistan’s economic performance & has depicted satisfaction on improving macroeconomic situation of country which is expected to be a material positive going forward.

Based on NCCPL data, foreigners bought US$3.15 million. On the local side, Mutual Fund were seller of US$8.4 million, & Banks were seller of US$6.6 million.

KARACHI: The stock market gained 178 points on Friday amid selling pressure witnessed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,833 points as against 40,655 points showing an increase of +178 points.

Analysts at Arif Habib Limited said that the market traded in the range of +399 points and -161 points during the two sessions, closing +178 points.

Selling pressure was evident throughout but Oil chain, especially E&P stocks, staged good recovery by the end of session.

Higher international oil prices kept investors’ interest alive. Other than oil stocks, yesterday’s detailed decision on Pervez Musharraf inflicted more pain for investors, which saw banking and cement sector stocks under selling pressure.

O&GMCs topped the chart with 32.8 million shares, followed by Cement (18.4 million) and Food (16 million). Among scrips, HASCOLR maintained top position with 18.6 million shares, followed by FFL (14.2 million) and UNITY (8.7 million).

Sectors contributing to the performance include E&P (+134 points), Fertilizer (+27 points), Inv Banks (+26 points), Banks (-38 points), Textile (-18 points).

Volumes declined from 260.2 million shares to 180.7 million shares (-31 percent DoD). Average traded value also declined by 25 percent to reach US$ 55.1 million as against US$ 73.2 million.

Stocks that contributed significantly to the volumes include HASCOLR1, FFL, UNITY, KEL and PAEL, which formed 30 percent of total volumes.

Stocks that contributed positively include PPL (+63 points), OGDC (+41 points), DAWH (+24 points), PAKT (+19 points) and FFC (+18 points). Stocks that contributed negatively include UBL (-17 points), HMB (-15 points), SNGP (-15 points), NML (-13 points), and MCB (-12 points).

KARACHI: The equity market plunged by 948 points on Thursday following detailed judgment release by a special court in high treason case.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,655 points as against 41,604 points showing a decline of 948 points.

Analysts at Arif Habib Limited said that the market take a major plunge today upon release of detailed judgment of Pervez Musharraf that caused panic among investors and raised concern about the ongoing spat between the State Institutions.

Besides, start of roll-over week is also close which along with situation at border cautioned investors to better book profits than hold positions. The index dropped 1189 points during the session, besides an increase of 193 points, earlier in the session.

Buying activity was observed in MoC that helped recovery of ~250 points, closing the index at -948 points. O&GMCs garnered most volume with 30.9 million shares followed by Vanaspati (26.4 million) and Cement (25.9 million). Among scrips, UNITY realized trading volume of 26.4 million shares, followed by HASCOLR1 (13.2 million) and FFL (12.6 million).

Sectors contributing to the performance include Banks (-212 points), E&P (-172 points), Fertilizer (-94 points), Power (-68 points) and Cement (-63 points).

Volumes declined from 276.3 million shares to 260.1 million shares (-6 percent DOD). Average traded value also declined by 7 percent to reach US$ 73.2 million as against US$ 78.5 million.

Stocks that contributed significantly to the volumes include UNITY, HASCOLR1, FFL, EPCL and TRG, which formed 28 percent of total volumes.

Stocks that contributed positively include SHFA (+10 points), MTL (+2 points), SPWL (+0 points), DCR (+0 points). Stocks that contributed negatively include HBL (-71 points), OGDC(-60 points), PPL (-57 points), HUBC (-54 points), and DAWH (-52 points).

KARACHI: The stock market fell by 165 point on Wednesday owing to ongoing political uncertainty.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,604 points as against 41,769 points showing a decline of 165 points.

Analysts at Arif Habib Limited said that the market took a bearish tone today with the ongoing political uncertainty that caused investors to book profits.

E&P stocks, particularly, bore significant selling pressure and traded in the red zone.

During the session, index oscillated between +152 points and -379 points and closed the session -165 points. Oil & Gas chain had the most impact on index.

Sectors contributing to the performance include E&P (-136 points), O&GMCs (-31 points), Tobacco (-18 points), Investment Banks (+51 points), Power (+29 points) and Banks (+25 points).

Volumes declined from 412.4 million shares to 276.2 million shares (-33 percent DoD). Average traded value also declined by 31 percent to reach US$ 78.5 million as against US$ 113.6 million.

Stocks that contributed significantly to the volumes include BOP, UNITY, FFL, KEL, HASCOLR1, which formed 24 percent of total volumes.

Stocks that contributed positively include DAWH (+55 points), HUBC (+42 points), MEBL (+15 points), SHFA (+9 points) and UBL (+9 points). Stocks that contributed negatively include OGDC (-66 points), PPL (-55 points), NESTLE (-17 points), BAHL (-15 points), and LUCK (-15 points).

KARACHI: The equity market gained 124 points on Tuesday amid decisions of the apex court and repots of gas tariff hike.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSC) closed at 41,769 points as against 41,645 points showing an increase of 124 points.

Analysts at Arif Habib Limited said that the market saw wide moves today with an initial increase of 411 points and then sustaining loss of -620 points (a drop of almost 1000 points), which was first caused by gas tariff hike proposed by OGRA followed by Court’s decision against Pervez Musharaf that dented the investor sentiment.

E&P stocks rallied despite negative triggers and both OGDC and PPL traded on upper circuits. Banking sector followed suit and showed price gains.

Among volume leaders, O&GMC sector led the table with 71.4 million shares, followed by Food (43.5 million) and Cement (42 million). Scrip wise activity shows FFL on top with 40.5 million shares, followed by HASCOLR1 (35.6 million) and UNITY (26.2 million).

Sectors contributing to the performance include E&P (+226 points), Banks (+100 points), Inv Banks (+50 points), Power (-45 points), Tobacco (-38 points), Cement (-36 points), Fertilizer (-24 points), Textile (-20 points).

Volumes increased further from 358.1 million shares to 412.3 million shares (+15 percent DOD). Average traded value also increased by 26 percent to reach US$ 113.6 million as against US$ 90.3 million.

Stocks that contributed significantly to the volumes include FFL, HASCOLR1, UNITY, JSCL and TRG, which formed 34 percent of total volumes.

Stocks that contributed positively include PPL (+102 points), OGDC (+100 points), HBL (+81 points), DAWH (+53 points) and ENGRO (+36 points). Stocks that contributed negatively include FFC (-48 points), PAKT (-37 points), HUBC (-37 points), PSO (-21 points), and LUCK (-21 points).

KARACHI: The Stock market made a new 13-month high of 41,699 points on Monday with the index increased by 782 points during the session, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,645 points as against 40,917 points showing an increase of +728 points.

The analysts at Arif Habib Limited said that the index closed near day’s high at 41645 points.

Oil & Gas chain remained in the limelight, particularly OGDC and PPL, which traded near and at upper circuits respectively.

O&GMCs traded the most today with 86.7 million shares, mainly contributed by HASCOLR shares totaling 53.3 million. This was followed by Banks (44.2 million) and Cement (32.6 million). Among scrips, UNITY and SSGC followed HASCOLR with 31.4 million and 16.1 million shares respectively.

Sectors contributing to the performance include E&P (+221 points), Banks (+162 points), Cement (+57 points), O&GMCs (+43 points) and Fertilizer (+39 points).

Volumes increased significantly from 270.8 million shares to 357.8 million shares (+32 percent DoD). Average traded value also increased by 20 percent to reach US$ 90.3 million as against US$ 75.3 million.

Stocks that contributed significantly to the volumes include HASCOLR1, UNITY, SSGC, FFL and PIBTL, which formed 37 percent of total volumes.

Stocks that contributed positively include PPL (+97 points), HBL (+79 points), OGDC (+66 points), POL (+41 points) and UBL (+25 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-5 points), EFERT (-5 points), NATF (-4 points), and INDU (-3 points).

KARACHI: The stock market likely to maintain its buoyancy during next week owing to economic improvement.

Analysts at Arif Habib Limited said that index will continue it’s upward journey as the economy depicts signs of resurrection.

Improvement on the external front together with stability in the Pak Rupee is expected to reassure foreign investors.

Meanwhile inflationary readings are set to touch peak in January 2020 and with an imminent interest rate cut to follow, domestic investors remain jubilant as well.

The KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~7.8 percent versus ~2.6 percent offered by the region.

The domestic equity bourse breached the 41,000 level this week (last seen in February 2019) albeit, settling at 40,917 points (up by 184 points and 0.45 percent WoW).

This marks the highest index return in terms of percentage generated in seven consecutive weeks (+21.6 percent) in the past 10 years, last observed in September 2009.

Although some profit-taking was witnessed throughout the week, a swift rally at the index on the last day reflects continued investor confidence on the back of improving macros (trade deficit narrowed by 33 percent during 5MFY20 and reserves held by the SBP jumped up to USD 9.23bn), and lower bond yields (under 11 percent for 10-year PIBs as per latest auction), which further opens up valuations.

Sector-wise positive contributions came from i) Oil & Gas Exploration (273 points) as Pakistan invites Russia to acquire governments share in OGDC and PPL, ii) Chemical (54 points), iii) Food and personal care (47 points), iv) Fertilizer (42 points), and v) Tobacco (38 points). Scrip-wise positive contributions were led by OGDC (101 points), PPL (84 points), MARI (52 points), NESTLE (43 points) and POL (36 points).

Foreign selling was witnessed this week clocking-in at USD 9.1 million compared to a net buy of USD 1.1 million last week. Selling was witnessed in E&P (USD 5.4 million) and Commercial Banks (USD 3.5 million).

On the domestic front, major buying was reported by Individuals (USD 7.4 million) and Mutual Funds (USD 7.6 million). Average Volumes settled at 276 million shares (down by 41 percent WoW) while average value traded clocked-in at USD 67 million (down by 36 percent WoW).

KARACHI: The stock exchange gained 402 points on Friday owing to buying seen in major blue chip scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,917 points as against 40,514 points showing an increase of 402 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today and took cue from higher international oil prices that caused PPL to hit upper circuit and OGDC to trade near upper circuit.

Buying activity was mainly observed in Oil & Gas chain. Besides E&P stocks, SSGC and SNGP among O&GMCs also closed on upper circuits.

Autos, Cement and Steel were generally among the laggards. Banking sector led the volumes with 37.9 million shares, followed by Vanaspati (28.2 million) and Technology (27.3 million).

Among scrips, UNITY led the volumes with 28.2 million shares followed by BOP (14.8 million) and FFL (13.5 million).

Sectors contributing to the performance include E&P (+168 points), Banks (+77 points), O&GMCs (+55 points), Textile (+28 points), Inv Banks (+14 points).

Volumes increased from 227 million shares to 270.7 million shares (+19 percent DoD).

Average traded value also increased by 39 percent to reach US$ 75.3 million as against US$ 54.3 million.

Stocks that contributed significantly to the volumes include UNITY, BOP, FFL, AVN and OGDC, which formed 30 percent of total volumes.

Stocks that contributed positively include PPL (+92 points), OGDC (+77 points), HBL (+34 points), PSO (+26 points) and SNGP (+20 points). Stocks that contributed negatively include FFC (-9 points), THALL (-8 points), ENGRO (-8 points), MLCF (-6 points), and MARI (-5 points).