Tag: KSE-100

KARACHI: The stock market ended down by 122 points on Tuesday following profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,382 points as against 37,504 points showing a decline of 122 points.

Analysts at Arif Habib Limited said that the market saw attrition of 91 points (unadjusted) by session’s end, where the index swayed +132 points and -165 points during the day.

Profit booking became the mantra for investors, who keenly waited for ISL’s results, they added.

Financial results were announced close to session’s end and disappointed investors and analysts alike.

The stock ultimately hit lower circuit and dampened investor sentiment too.

Cement sector remained in the limelight with 29 million traded volume, however, the underlying scrips witnessed selling pressure on the back of disagreement among Cement manufacturers regarding sales quota.

KEL saw activity to the downside in last half hour of trading that saw price dropping below Rs. 5 shortly. The sector that stood out and defied the selling pressure was Autos, which saw most scrips trading at Upper circuit.

Sectors contributing to the performance include Banks (-39 points), E&P (-22 points), Engineering (-17 points), O&GMCs (-16 points), Tobacco (-16 points), Autos (+14 points).

Volumes declined further from 172 million to 140 million shares (-19 percent DoD). Average traded value also declined by 24 percent to reach US$ 33.3 million as against US$ 43.6 million.

Stocks that contributed significantly to the volumes include UNITYR1, KEL, PAEL, PIOC and MLCF, which formed 41 percent of total volumes.

Stocks that contributed positively include UBL (+18 points), FFC (+16 points), HUBC (+7 points), HASCOL (+7 points), and AICL (+6 points).

Stocks that contributed negatively include MCB (-17 points), POL (-15 points), PMPK (-12 points), ISL (-12 points) and PSO (-11 points).

KARACHI: The equity market gained 166 points on Monday in mixed trading sessions.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,504 points as against 37,338 points showing an increase of 166 points.

Analysts at Arif Habib Limited said that the market continued the trend showed last week with an upward move of 361 points during the session but also saw profit booking in sectors (Cement, Engineering, Banks) which took the Index up last week.

Among Cement sector, FCCL, MLCF and PIOC contributed significantly in the top 10 traded volumes.

O&GMCs continued driving upward with SNGP trading at upper circuit and closing at that level.

Friday saw SNGP announcing Board meeting in last week of April, which gave Investors confidence in scrip.

Among Banks, HBL and UBL saw price gains but last half hour saw selling pressure in HBL.

Cement Sector topped volumes table with around 37 million shares, followed by Banks (around 25 million).

Among Scrips, PAEL consecutively outperformed with 18 million traded volume and trading near upper circuit. KEL was also able to garner around 14 million shares however, its price declined by 3.4 percent.

Sectors contributing to the performance include Banks (+55 points), O&GMCs (+31 points), Fertilizer (+27 points), Cement (+20 points), Food (+18 points), Insurance (-14 points).

Volumes declined slightly from 189.4 million shares to 172 million (-9 percent DoD). Average traded value however, increased by 15 percent to reach US$ 43.6 million as against US$ 37.8 million.

Stocks that contributed significantly to the volumes include PAEL, KEL, BOP, FCCL and TRG, which formed 38 percent of total volumes.

Stocks that contributed positively include HBL (+33 points), SNGP (+22 points), NESTLE (+14 points), FCCL (+11 points), and MCB (+11 points). Stocks that contributed negatively include PMPK (-8 points), KEL (-8 points), EFUG (-7 points), POL (-7 points) and ABOT (-6 points).

KARACHI: The stock market likely to perform better during next week owing to launching of new amnesty scheme and progress on IMF bailout package.

Analysts at Arif Habib Limited said that the market to turn positive in upcoming days with triggers including amnesty announcement and agreement with the IMF (principal agreement has been reached but staff level arrangement remains pending).

Moreover, budget proposal will continue to flow in and keep certain sectors under limelight.

The analysts said that this week the market winds blew in all directions, with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closing in green on 3/5 days and ending the week at 37,338 points (down by 184 points, 0.5 percent WoW).

While low GDP forecast by the IMF and cement price cut mid-week in North and South ruined market sentiment initially, growth in remittances, positive outcome of the Finance Minister’s meeting with World Bank and IMF in the US, anticipation of another Amnesty Scheme together with talks of cement price restoration by cement manufacturers, revived the colour of the market.

The analysts also highlighted that the market fell below its 3-year low this week.

Negative sector-wise contributions came from i) Cement (209.9 points) as news of cement players cutting prices eroded investor confidence, ii) Oil & Gas Exploration Companies (63.7 points), iii) Fertilizer (39.1 points), iv) Textile Composite (19.3 points), and v) Pharmaceuticals (18.6 points).

On the flip side, sectors that contributed positively include i) Power Generation & Distribution (73.4 points), ii) Commercial Banks (72.2 points), iii) Oil & Gas Marketing Companies (20. points), iv) Food & Personal Care Products (11.8 points), and v) Automobile Assembler (11.7 points). Scrip-wise major negative contributions came from LUCK (60.7 points), FCCL (36.1 points), and DGKC (35.7 points).

Foreign selling continued this week clocking-in at USD 2.2 million compared to a net sell of USD 3.7 million last week.

Selling was witnessed in Commercial Banks (USD 4.0 million) and Power Generation & Distribution (USD 0.7 million). On the domestic front, major buying was reported by Banks / DFIs (USD 4.0 million) and Companies (USD 3.6 million).

Volumes settled at 148 million shares (up by 25 percent WoW) while value traded clocked in at USD 34 million (up by 36 percent WoW).

KARACHI: The equity market made recovery of over 550 points on Friday on reports of IMF loan program.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 37,338 points as against 36,787 points showing an increase of 550 points.

Analysts at Arif Habib Limited said that the index saw significant recovery today.

The session commenced with cautious optimism and initial test of -46 points, market sprung strongly with 633 points and closed at 550 points.

Cement Sector again contributed significantly to the rise in Index with 33 million shares followed by Banks (30 million shares).

BOP (Bank of Punjab) topped the volumes chart with around 23million shares and closed near upper circuit.

As against the trades in past sessions, Cement sector rebounded strongly on the back of a significant decline in international coal prices, which prompted investors to take positive bets.

Asad Umar’s announcement of near conclusion of IMF package also helped revive investor sentiment.

Sectors contributing to the performance include Banks (+149 points), Cement (+100 points), O&GMCs (+58 points), Fertilizer (+52 points), Pharma (+30 points).

Volumes increased from 143.8 million shares to 189.4 million shares (+32 percent DoD). Average traded value also increased by 21 percent to reach US$ 37.8 million as against US$ 31.2 million.

Stocks that contributed significantly to the volumes include BOP, UNITYR1, KEL, WTL and FCCL, which formed 41 percent of total volumes.

Stocks that contributed positively include LUCK (+51 points), PSO (+36 points), HBL (+35 points), BAHL (+27 points), and ENGRO (+23 points). Stocks that contributed negatively include HUBC (-15 points), PMPK (-13 points), APL (-11 points), PPL (-3 points) and HMB (-3 points).

KARACHI: The equity market ended with gain of 208 points on Thursday in a narrow band trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,787 points as against 36,579 points showing an increase of 208 points.

Analysts at Arif Habib Limited said that the market traded in a narrow band today, although tilted towards positive, but oscillated between -80 points and +331 points during the session.

Highlight of today’s session remained Cement Sector, which saw trading volumes of 38M (contributed by FCCL, MLCF & DCL) and contributed negatively to the points table.

Selling pressure was observed in the Cement sector, whereby MLCF saw several touchdowns on lower circuit, but otherwise DGKC and LUCK saw considerable buying activity. E&P, Refinery, Banks and Engineering sector performed positive today.

Sectors contributing to the performance include Banks (+48 points), E&P (+46 points), O&GMCs (+36 points), Power (+24 points), Fertilizer (+20 points) and Cement (-20 points).

Volumes increased from 141.2 million shares to 143.8 million shares (+2 percent DoD). Average traded value also increased by 7 percent to reach US$ 31.2 million as against US$ 29.1 million.

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

Stocks that contributed positively include OGDC (+29 points), PSO (+24 points), HUBC (+22 points), LUCK (+22 points), and HBL (+14 points). Stocks that contributed negatively include DGKC (-13 points), FCCL (-9 points), MLCF (-9 points), HASCOL (-5 points) and CHCC (-5 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) plunged to 33-month low on Wednesday due to downward revision in growth forecast by IMF for Pakistan.

Analysts at Topline Securities said that KSE 100 index closed at 36,579 index level (-551 point or 1.5 percent) which is a 33-month low. Downward revision in growth forecast by IMF and pressure on cement stocks amid cut in cement bag prices led to selling pressure in the market.

As per IMF, Pakistan’s economy will grow at an average rate 2.5 percent during the next five years and its external imbalance will remain elevated; growth rate of 2.5 percent is the lowest economic growth rate predicted by any multilateral lender.

Cement sector continued its weak performance eroding 109 points from index.

Traded volume was down 12 percent to 141 million shares whereas trade value was down 30 percent to US$29.1 million.

KARACHI: The equity market recovered 208 points on Tuesday due to buying activities in blue chips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,130 points as against 36,922 points showing an increase of 208 points.

Analysts at Arif Habib Limited said that the market showed some signs of recovery today, particularly in blue chips which touched a low again today but saw buying activity, which pulled the index up.

Cement stocks such as LUCK, DGKC showed some resilience and closed well above day’s low.

MLCF on the contrary showed major activity on lower circuit and closed at that level.

Cement sector led the volumes with 40 million shares contributed mainly by MLCF (15.6 million).

Sectors contributing to the performance include Power (+84 points), Banks (+56 points), O&GMCs (+38 points), Pharma (+20 points), E&P (+16 points), Cement (-61 points).

Volumes increased significantly from 106.9 million shares to 160.5 million shares (+50 percent DoD). Average traded value also increased by 45 percent to reach US$ 41.7 million as against US$ 28.8 million.

Stocks that contributed significantly to the volumes include UNITYR1, MLCF, FCCL, KEL and WTL, which formed 37 percent of total volumes.

Stocks that contributed positively include HUBC (+61 points), UBL (+37 points), PSO (+23 points), NBP (+19 points), and ENGRO (+17 points). Stocks that contributed negatively include LUCK (-25 points), HBL (-16 points), FFC (-13 points), FCCL (-11 points) and DAWH (-11 points).

KARACHI: The equity market plunged by 600 points on Monday owing to reports of possible border confrontation between Pakistan and India.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,922 points as against 37,522 points showing a decline of 600 points.

Analysts at Arif Habib Limited said that negative news flow over the weekend, especially possible border confrontation between Pakistan and India, as highlighted by Foreign Minister, in addition to macro-economic woes added to deficit of Investor confidence.

The index slid by 783 points during the session and closed 600 points down.

Cement blue chips hit lower circuits, especially LUCK, DGKC and MLCF that contributed to decline in KSE100. Cement Sector topped volumes table with 20 million shares, followed by Power and Banks. Among Scrips, KEL registered highest traded volume of 10.9 million shares followed by FCCL (9.5 million).

Sectors contributing to the performance include Cement (-120 points), Banks (-79 points), Fertilizer (-59 points), O&GMCs (-59 points), E&P (-58 points).

Volumes increased slightly from 101.7 million shares to 106.9 million shares (+5 percent DoD). Average traded value also increased by 9 percent to reach US$ 28.9 million as against US$ 26.6 million.

Stocks that contributed significantly to the volumes include KEL, FCCL, UNITYR1, BOP and MLCF, which formed 38 percent of total volumes.

Stocks that contributed positively include HUBC (+17 points), HBL (+10 points), NESTLE (+9 points), FABL (+6 points), and IGIHL (+3 points). Stocks that contributed negatively include LUCK (-56 points), ENGRO (-26 points), MCB (-24 points), SEARL (-22 points) and PSO (-22 points).

KARACHI: The equity market likely to stay positive in coming weeks as the expected staff level meeting of IMF is scheduled in April 2019.

Analysts at Arif Habib Limited said that this will revive the market sentiment.

Moreover, interest rate is expected to peak following another 50 basis points hike in May 2019; which will bring clarity to the investors.

On the currency front, the analysts expect the Pak Rupee to settle at 147/USD by June 2019.

Moreover, result of offshore drilling at Indus offshore block G ‘Kekra-1’ is also expected within six weeks, where materialization of oil / gas discovery will drive the market in general and OGDC and PPL in particular.

The analysts said that this week trading commenced on a negative note despite China depositing USD 2.2 billion to support the balance of payments position and depleting foreign exchange reserves which crossed the USD 17 billion mark.

Market activity remained depressed on the back of i) 50bps increase in policy rate augmenting pressure on leveraged industries, ii) higher than expected inflationary readings; at 9.41 percent YoY in March 2019 (5-year high), iii) continuous depreciation of PKR against the Greenback, iv) delay in finalisation of the IMF program which is now expected by May, and v) projected slowdown by the Asian Development Bank of Pakistan’s GDP to 3.9 percent.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at CY19’s lowest level of 37,522 points, down by 1,128 points or 2.92 percent WoW.

Contribution to the downside was led by i) Commercial Banks (-383 points) due to foreign selling, ii) Fertilizer (-134 points) amid announcement of 100,000 tons of urea import, iii) Oil and Gas Marketing Companies (-35 points) on account of slowdown in petroleum off-take by 17 percent YoY in Mar’19, iv) Pharmaceuticals (-92 points), and v) Power Generation and Distribution (-67 points). Scrip wise major losers were HBL (-122 points), UBL (-71 points), PPL (-58 points), ENGRO (-51 points), and PSO (-47 points). While the only sector that contributed positively to the index was Miscellaneous (+57 points).

Foreign selling witnessed this week clocked in at USD 3.7 million compared to a net buy of USD 0.5 million last week.

Major selling was witnessed in Fertilizer (USD 1.6 million) and Power Generation (USD 1.6 million).

On the local front, buying was reported by Individuals (USD 5.5 million) followed by Banks / DFIs (USD 4.7 million).

That said, average daily volumes for the outgoing week were down by 7.5 percent to 118.7 million shares likewise value traded declined by 20.4 percent to USD 24.9 million.

The Pakistan stock market witnessed a subdued trading session on Friday as investors showed a lack of interest in blue-chip stocks.

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