KARACHI: Pakistan stocks ended down by 352 points on Tuesday due to deteriorated economic conditions.
(more…)Tag: KSE-100
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Pakistan stocks gain 486 points on circular debt solution hopes
KARACHI: Pakistan stocks ended up by 486 points on Monday on hopes of resolution of gas circular debt.
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Weekly Review: political, economic uncertainties to haunt stock market
KARACHI: Pakistan equities likely to trade under pressure due to ongoing political and economic uncertainties.
Analysts at Arif Habib Limited said that keeping in view the developments on the political and economic front, the market is expected to remain range bound.
Moreover, they believe, market would also be keenly following developments on external front with any inflows by any bilateral/multi-lateral financial institutions or from any friendly countries likely to trigger positive momentum.
READ MORE: Pakistan stocks gain 122 points in mixed trading
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 3.8x (2023) compared to Asia Pac regional average of 12.7x while offering a dividend yield of 10.2 per cent versus 2.9 per cent offered by the region.
In the outgoing week, market remained bearish, hitting 26-month low of 39,343 points on Wednesday.
The main reason for the decline was uncertainty on political front as PTI announced to dissolve the Punjab assembly, followed by no confidence movement against the Chief Minister of Punjab.
READ MORE: Bears take control of PSX as Pakistan stocks shed 558 points
On the economic front, SBP’s foreign exchange reserves decreased by $ 584 million to $ 6.1 billion, the lowest level since April 2014. Furthermore, Current Account Deficit (CAD) decreased to 19 months low of $ 276 million during November 2022.
Foreign Direct Investment (FDI) went down by 48 per cent YoY | 14 per cent MoM to $ 82 million in November 2022. Moreover, REER clocked in at 98.85 as of November 2022 compared to 100.19 in October 2022.
In addition, Pakistani Rupee (PKR) depreciated by PKR 0.7 | 0.13 per cent WoW against the US Dollar, closing the week at 225.64. The index closed at 39,669 points, losing 1,632 points (down by 3.95 per cent) WoW.
READ MORE: Pakistan stocks end up in narrow range trading
Sector-wise negative contributions came from i) Technology & Communication (379 points), ii) Fertilizer (283 points), iii) Banks (235 points), iv) Cement (161 points) and v) Food and Personal Care Products (101 points).
Whereas, the sectors which contributed positively were i) Miscellaneous (20 points) and ii) Tobacco (5 points). Scrip-wise negative contributors were TRG (231 points), ENGRO (145 points), SYS (124 points), MARI (77 points) and MCB (63 points).
READ MORE: Pakistan stocks gain 174 points amid lackluster trading
Meanwhile, scrip-wise positive contribution came from PPL (28 points), PSEL (26 points), LOTCHEM (24 points), AICL (9 points) and OGDC (8 points).
Foreigners selling continued during this week, clocking in at $ 3.3 million compared to a net sell of $ 9.6 million last week. Major selling was witnessed in Commercial Bank ($ 4.2 million) and E&P’s ($ 0.4 million).
On the local front, buying was reported by Banks/DFIs ($ 7.9 million) followed by Companies ($ 5.0 million). Average volumes clocked in at 180.2 million shares (up by 11.3 per cent WoW) while average value traded settled at $ 21.7 million (up by 7.7 per cent WoW).
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Weekly Review: Investors to keep eye on political, economic developments
KARACHI: Investors in the Pakistan Stock Exchange (PSX) are gearing up for a week of careful observation, as the market remains sensitive to unfolding political and economic situations.
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Pakistan stocks gain 122 points in mixed trading
KARACHI: Pakistan stocks on Friday gained 122 points in mixed trading sessions during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,301 points from previous day’s closing of 41,179 points, showing an increase of 122 points.
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Bears take control of PSX as Pakistan stocks shed 558 points
KARACHI: Bears took control of Pakistan Stock Exchange (PSX) as the market recorded a loss of 558 points on Thursday. The benchmark KSE-100 index of PSX ended 41,180 points from previous day’s closing of 41,738 points, showing a decline of 558 points.
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Pakistan stocks end up in narrow range trading
KARACHI: Pakistan stocks ended up on Wednesday while trading in narrow range during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,737 points from previous day’s closing of 41,714 points, showing an increase of 23 points.
READ MORE: Pakistan stocks gain 174 points amid lackluster trading
Analysts at Arif Habib Limited said that the PSX had a range-bound session during the day.
The benchmark KSE-100 index fluctuated in a narrow range throughout the day after the market opened in the red and quickly created a thin range of trading both ways.
READ MORE: Stocks dip by 158 points as investors remain jittery
Due to the ongoing unfavorable economic sentiments and political instability, investors remained on the sidelines.
Volumes in the main board dried up, although expectations of the gas price hike kept the E&P sector in the limelight.
READ MORE: Weekly Review: stocks may observe range-bound trading
Sectors contributing to the performance include Technology & Communication (+72.3 points), E&P’s (+40.0 points), Miscellaneous (+39.7 points), Textile Composite (+7.2 points), Vanaspati & Allied Industries (+5.1 points).
READ MORE: Pakistan stocks inch up in range-bound trading
Volumes increased from 144.8 million shares to 146.7 million shares (+1.3 per cent DoD). The average traded value also increased by 4.2 per cent to USD 17.4 million as against USD 16.7 million.
Stocks that contributed significantly to the volumes are TPLP, UNITY, DFML, WTL and FCCL.
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Pakistan stocks gain 174 points amid lackluster trading
KARACHI: Pakistan stocks gained 174 points on Tuesday in a lackluster trading session during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,714 points from previous day’s closing of 41,540 points, showing an increase of 174 points.
READ MORE: Stocks dip by 158 points as investors remain jittery
Analysts at Arif Habib Limited said that another range-bound session was witnessed at the PSX during the day.
The market opened in the red but soon the momentum changed as the market traded in the green throughout the day after political clarity.
READ MORE: Weekly Review: stocks may observe range-bound trading
Although Investor participation remained sluggish in the mainboard on the contrary 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Fertilizer (+84.0 points), Commercial Banks (+64.0 points), Miscellaneous (+43.9 points), Technology & Communication (+24.1 points), Tobacco (+17.3 points).
READ MORE: Pakistan stocks inch up in range-bound trading
Volumes increased from 133.6 million shares to 144.8 million shares (+8.5 per cent DoD). The average traded value also increased by 16.2 per cent to USD 16.7 million as against USD 14.4 million.
Stocks that contributed significantly to the volumes are PTC, DFML, WTL, FCCL, and TPLP.
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Stocks dip by 158 points as investors remain jittery
KARACHI: Pakistan stocks dipped by 158 points on Monday as investors opted to remain sidelines owing to political and economic uncertainties.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,540 points from last Friday’s closing of 41,698 points, showing a decline of 158 points.
READ MORE: Weekly Review: stocks may observe range-bound trading
Analysts at Arif Habib Limited said that the week began with a range-bound session at the PSX.
The benchmark KSE-100 index opened in the green but failed to maintain momentum due to political and economic uncertainty, as investors chose to stay on the sidelines.
READ MORE: Pakistan stocks inch up in range-bound trading
Volumes on the mainboard remained low, though decent volumes in third-tier stocks were recorded.
Sectors contributing to the performance include Chemical (-33.2 points), Commercial Banks (-32.6 points), Automobile Parts & Accessories (-16.9 points), OMCs (-15.8 points), Food & Personal Care Products (-15.3 points).
READ MORE: Stocks shed 167 points in range-bound session
Volumes decreased from 191.4 million shares to 133.6 million shares (-30.2 per cent DoD). The average traded value also decreased by 9.7 per cent to $14.4 million as against $16.0 million.
Stocks that contributed significantly to the volumes are DFML, WTL, DFSM, GCIL, and MDTL.
READ MORE: Pakistan stocks trade in green after clarification on IMF review
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Weekly Review: stocks may observe range-bound trading
KARACHI: Pakistan stocks likely to stay range-bound during the next week as investors may remain cautious due to political and economic uncertainties.
Analysts at Arif Habib Limited said that the equity bourse is expected to remain range bound in the upcoming week as market participants will remain cautious due to the political noise in the country.
Furthermore, any positive news coming from Saudi Arabia and IMF 9th review.
READ MORE: Pakistan stocks inch up in range-bound trading
The benchmark KSE-100 index is currently trading at a PER of 4.0x (2023) compared to Asia Pac regional average of 12.9x while offering a dividend yield of 10.2 per cent versus 2.8 per cent offered by the region.
In the outgoing week, the market remained jittery, even though Pakistan repaid its $1 billion international bond on time and Saudi Arabia extended its $ 3 billion deposit to the SBP.
The Market remained under pressure this week mainly due to uncertainty over the IMF deal and political noise. However, the market turned positive midweek as Russia agreed to sell Oil to Pakistan at a discounted price, but this positive momentum did not sustain.
READ MORE: Stocks shed 167 points in range-bound session
Furthermore, SBP’s foreign exchange reserves data showcased a decline of $ 784 million hitting nearly a four-year low of $ 6.72 billion.
With this, the Pakistani Rupee (PKR) depreciated during the week against the greenback, dropping by PKR 0.71 | 0.32 per cent WoW to settle at PKR 224.40.
The market closed at 42,150 points, down by 452 points (-1.1 per cent WoW).
Sector-wise negative contributions came from i) Cement (109 points), ii) Power Generation & Distribution (61 points), iii) Pharmaceuticals (60 points), iv) Technology & Communication (57 points) and v) Automobile Assembler (45 points).
READ MORE: Pakistan stocks trade in green after clarification on IMF review
Whereas, sectors which contributed positively were i) Miscellaneous (131 points) and ii) Automobile Parts & Accessories (3 points). Scrip-wise negative contributors were HBL (55 points), SYS (54 points), HUBC (50 points), MEBL (43 points) and MTL (36 points).
Meanwhile, scrip-wise positive contribution came from PSEL (137 points), BAHL (33 points), UBL (27 points), BAFL (12 points) and HMB (11 points).
READ MORE: Pakistan stocks continue with bearish trend
Foreigners selling was witnessed during this week, clocking in at $ 6.3 million compared to a net buy of $ 6.6 million last week. Major selling was witnessed in Commercial Bank ($ 10.3 million), Cement ($ 0.2 million), and all other Sectors ($ 0.5 million).
On the local front, buying was reported by Individuals ($ 8.8 million) followed by Insurance Companies ($ 1.3 million). Average volumes clocked in at 180 million shares (up by 11 per cent WoW) while average value traded settled at $ 18 million (down by 22 per cent WoW).