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.
(more…)Tag: KSE-100
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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).
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Pakistan stocks inch up in range-bound trading
KARACHI: Pakistan stocks recorded a nominal increase on Friday in a range-bound trading session.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,698 points from previous day’s closing of 41,651 points, showing an increase of 47 points.
READ MORE: Stocks shed 167 points in range-bound session
Analysts at Arif Habib Limited said another range-bound session was witnessed at the PSX during the day.
In the opening hour, the market remained sluggish throughout the trading session. However, as the second session resumed the volumes picked up after the Supreme Court declared agreement for the development of the Reko Diq mine legal, which helped boost interest in the E&P sector.
READ MORE: Pakistan stocks trade in green after clarification on IMF review
Investors’ participation remained low on the mainboard with 3rd tier stocks continuing to dominate the volume board.
Sectors contributing to the performance include E&P’s (+39.5 points), Commercial Banks (+36.7 points), Engineering (+9.3 points), Food & Personal Care Products (+5.6 points), Technology & Communication (+4.1 points).
READ MORE: Pakistan stocks continue with bearish trend
Volumes decreased from 227.8 million shares to 191.4 million shares (-16.0 per cent DoD). The average traded value also decreased by 11.7 per cent to USD 16.0 million as against USD 18.1 million.
Stocks that contributed significantly to the volumes are WTL, MDTL, DFSM, HUMNL, and GGGL.
READ MORE: Pakistan stocks witness bloodbath due to economic woes
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Stocks shed 167 points in range-bound session
KARACHI: Pakistan stocks has lost 167 points on Thursday in a range-bound session observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,652 points from previous day’s closing of 41,819 points, showing a decline of 167 points.
READ MORE: Pakistan stocks trade in green after clarification on IMF review
Analysts at Arif Habib Limited said that a range-bound session was witnessed at the PSX during the day.
The market opened in the green zone but failed to maintain momentum since the investors chose to remain on the sidelines given country’s current macroeconomic situation, resulting in the benchmark KSE-100 index to close in the red.
READ MORE: Pakistan stocks continue with bearish trend
Volumes on the mainboard dried up as activity remained subdued, though third-tier stocks remained in the spotlight.
Sectors contributing to the performance include Technology & Communication (-55.8 points), Commercial Banks (-36.7 points), Cement (-35.8 points), Power Generation & Distribution (-24.2 points), Pharmaceuticals (-21.2 points).
READ MORE: Pakistan stocks witness bloodbath due to economic woes
Volumes increased from 221.5 million shares to 227.8 million shares (+2.9 per cent DoD). The average traded value decreased by 30.8 per cent to USD 18.1 million as against USD 26.2 million.
Stocks that contributed significantly to the volumes are KOSM, HUMNL, HASCOL, and DFSM DCL.
READ MORE: Weekly Review: Investors to remain cautious after Sukuk repayment
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Pakistan stocks trade in green after clarification on IMF review
KARACHI: Pakistan stocks traded in green on Wednesday after a clarification issued by the finance division regarding review of IMF loan program.
The benchmark KSE-100 index ended 41,819 points from previous day’s closing of 41,540 points, showing a gain of 279 points.
READ MORE: Pakistan stocks continue with bearish trend
Analysts at Arif Habib Limited said that the benchmark KSE-100 index finally ended its losing streak, trading in the green all day.
Following a clarification by the finance division regarding the ninth review of the IMF Program, the market opened in the green and maintained its positive trend throughout the day.
READ MORE: Pakistan stocks witness bloodbath due to economic woes
Investors gained confidence as mainboard volumes gained momentum and participation remained healthy, with third-tier stocks leading in terms of volume.
Sectors contributing to the performance include Cement (+54.1 points), Commercial Banks (+48.5 points), Technology & Communication (+48.4 points), Miscellaneous (+37.3 points), OMCs (+26.4 points).
READ MORE: Weekly Review: Investors to remain cautious after Sukuk repayment
Volumes increased from 131.7 million shares to 221.5 million shares (+68.2 per cent DoD). The average traded value also increased by 50.3 per cent to USD 26.2 million as against USD 17.5 million.
Stocks that contributed significantly to the volumes are DCL, WTL, KOSM, SSGC and HASCOL.
READ MORE: Pakistan stocks lose 243 points on political unrest
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Pakistan stocks continue with bearish trend
KARACHI: Pakistan stocks witnessed bearish trading on Tuesday which was continued from a day earlier.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,540 points from previous day’s closing of 41,613 points, showing a decline of 73 points.
READ MORE: Pakistan stocks witness bloodbath due to economic woes
Analysts at Arif Habib Limited said that a mixed session was witnessed at the PSX during the day.
The market opened in the green territory however, selling momentum built up over the ongoing political clamor in the country.
READ MORE: Weekly Review: Investors to remain cautious after Sukuk repayment
Deteriorating macroeconomic factors have continued to undermine investors’ confidence resulting in significant volume reductions from the mainboard as 3rd tier stocks continued to dominate the volume board.
Sectors contributing to the performance include Automobile Assembler (-27.7 points), Chemical (-18.7 points), OMC’s (-16.6 points), Commercial Banks (-16.0 points), Inv. Banks / Inv. Cos. / Securities Cos. (-13.6 points).
READ MORE: Pakistan stocks lose 243 points on political unrest
Volumes increased from 126.3 million shares to 131.7 million shares (+4.3 per cent DoD). The average traded value also increased by 20.1 per cent to USD 17.4 million as against USD 14.5 million.
Stocks that contributed significantly to the volumes are DCL, WTL, DFML, TPLP and KOSM.
READ MORE: Stocks end positive 45 points despite profit taking
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Pakistan stocks witness bloodbath due to economic woes
KARACHI: Pakistan stocks witnessed bloodbath session on Monday due to rising economic worries and political uncertainty.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended down to 41,613 points from last Friday’s closing of 42,150 points, showing a decline of 537 points.
READ MORE: Weekly Review: Investors to remain cautious after Sukuk repayment
Analysts at Arif Habib Limited said that a bloodbath session was recorded at the PSX during the day.
The market opened in the green, but lack of investor participation and redemptions caused the index to drop 632 points intraday and close in the red.
Volumes in the mainboard dried up notably as a result of political noise in the country, and third-tier companies continued to lead the volume board.
READ MORE: Pakistan stocks lose 243 points on political unrest
Analysts at Topline Securities said that after a slight positive opening market witnessed profit taking as investor varied over delayed IMF 9th review and subsequent approval of $1.2 billion loan tranche followed by unstable economic conditions and poor foreign reserves led the investor’s confidence in check.
Sectors contributing to the performance include Cement (-127.1 points), Technology & Communication (-89.0 points), Commercial Banks (-76.2 points), Fertilizer (-50.6 points), E&P’s (-42.4 points).
READ MORE: Stocks end positive 45 points despite profit taking
Volumes decreased from 143.2 million shares to 126.3 million shares (-11.8 per cent DoD). The average traded value also decreased by 36.4 per cent to USD 14.5 million as against USD 22.8 million.
Stocks that contributed significantly to the volumes are WTL, FCCL, HASCOL, KEL and DSIL.