Pakistan stocks ended on a muted note on Monday, with the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) falling by 74 points, closing at 40,076 points.
(more…)Tag: KSE-100
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Weekly Review: market likely to stay positive
KARACHI: The stock market likely to stay positive during the next week since valuation have opened up to attract levels.
Analysts at Arif Habib Limited said that the market to remain positive in the upcoming weeks since valuations have opened up to attractive levels.
READ MORE: Pakistan stocks shed 127 points amid sluggish trading
Moreover, with the ongoing result season, certain sectors and scrips are expected to stay under the limelight.
The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2022) compared to Asia Pac regional average of 12.2x while offering a dividend yield of 9.6 per cent versus 2.9 per cent offered by the region.
READ MORE: Pakistan stocks gain 304 points on improved IT exports
The market commenced on a negative note this week as political and economic uncertainty kept investors on the edge.
Moreover, the Pak Rupee continued its free fall against the USD (reaching an all-time low of PKR 239.94) amid skepticism over the release of the IMF tranche.
Volatility became more evident as the current account deficit climbed up by 39 per cent YoY during June 2022, to clock-in at USD 2.3 billion.
The sentiment turned positive however, after the finance minister reiterated that all prior actions have been undertaken for the revival of IMF program.
Furthermore, the State Bank of Pakistan (SBP) echoed the Finance Minister’s statement and rejected claims of default on global payment in near future.
READ MORE: Pakistan stocks gain 79 points in volatile trading
In addition to this, Fitch and Moody showed optimism over the disbursement of USD 1.2 billion from IMF soon.
Albeit, the S&P Global downgraded Pakistan’s credit outlook from neutral to negative, hence keeping the bourse in check.
The market closed at 40,150 points, gaining 73 points (up by 0.18 per cent) WoW.
Sector-wise positive contributions came from i) Technology (176 points), ii) Banks (138 points), iii) E&P (58 points), iv) Chemical (37 points) and v) OMCs (16 points).
Whereas, sectors which contributed negatively were i) Fertilizer (231 points), ii) Automobile Assembler (73 points) and Cement (35 points). Scrip-wise positive contributors were TRG (132 points), LOTCHEM (51 points), POL (47 points), BAFL (46 points) and HBL (30 points).
READ MORE: Pakistan stocks end up in mixed trading session
Meanwhile, scrip-wise negative contribution came from EFERT (88 points), ENGRO (84 points), INDU (45 points) and FFC (44 points).
Foreign buying continued this week, clocking in at USD 0.57 million compared to a net buy of USD 1.64 million last week. Major buying was witnessed in Technology (USD 3.00 million) and Textile (USD 0.64 million).
On the local front, selling was reported by Individuals (USD 2.04 million) followed by Insurance Companies (USD 1.78 million). Average volumes clocked in at 150 million shares (down by 8 per cent WoW) while average value traded settled at USD 22 million (up by 3 per cent WoW).
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Pakistan stocks shed 127 points amid sluggish trading
KARACHI: Pakistan stocks declined by 127 points on Friday owing to slugging trading activity witnessed during the day.
The benchmark KSE-100 index ended at 40,150 points from previous day’s closing of 40,277 points, showing a decline of 127 points.
READ MORE: Pakistan stocks gain 304 points on improved IT exports
Analysts at Arif Habib Limited said that range bound session was observed in the market today due to last day of roll-over week.
The benchmark KSE-100 index opened in the positive zone but sluggish activity was witnessed. In the last trading hour, profit taking was observed which led the index to close in the red zone.
READ MORE: Pakistan stocks gain 79 points in volatile trading
Volumes remained dry in the main board although healthy volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (-69.1 points), Cement (-36.2 points), Chemicals (-26.7 points), E&P (-24.7 points) and Automobile Assembler (-18.6 points).
READ MORE: Pakistan stocks end up in mixed trading session
Volumes decreased from 251.3 million shares to 170.3 million shares (-32.2 per cent DoD). Average traded value also decreased by 32.5 per cent to reach US$ 26.4 million as against US$ 39.0 million.
Stocks that contributed significantly to the volumes are UNITY, LOTCHEM, CNERGY, TRG and TELE.
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Pakistan stocks gain 304 points on improved IT exports
KARACHI: Pakistan stocks gained 304 points on Thursday owing surge in IT exports of the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,277 points from previous day’s closing of 39,973 points, showing a gain of 304 points.
READ MORE: Pakistan stocks gain 79 points in volatile trading
Analysts at Arif Habib Limited said that the stock market witnessed a positive session during the day.
“The KSE-100 index traded in the green zone throughout the day as investors opted for value hunting across the board. Rally was observed in the IT sector as IT exports have surged to $ 2.616 billion (FY 2021-22),” the analysts said.
READ MORE: Pakistan stocks end up in mixed trading session
Investors participation remained healthy as hefty volumes were witnessed in the main board and 3rd tier stocks, they added.
Sectors contributing to the performance include Banks (+154.1 points), Technology (+93.3 points), E&P’s (+64.9 points), Power (+24.7 points) and OMC’s (+18.5 points).
READ MORE: Pakistan stocks fall amid political uncertainty
Volumes increased from 121.6 million shares to 251.3 million shares (+106.7 per cent DoD). Average traded value also increased by 125.3 per cent to reach US$ 39.0 million as against US$ 17.3 million.
Stocks that contributed significantly to the volumes are WTL, TPLP, LOTCHEM, TRG and CNERGY.
READ MORE: Weekly Review: market likely to stay positive on financial results
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Pakistan stocks gain 79 points in volatile trading
KARACHI: Pakistan stocks ended up 79 points on Wednesday amid volatile trading during the day amid political uncertainty.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,973 points from previous day’s closing of 39,894 points, showing a gain of 79 points.
Analysts at Arif Habib Limited said that the stock market continued to remain under pressure throughout the day due to concerns regarding uncertain economic situation.
READ MORE: Pakistan stocks end up in mixed trading session
The benchmark KSE-100 index witnessed a volatile session as investors opted to remain sideways as Pak Rupee continued its freefall against US Dollar.
The exchange rate ended at historic low of rupee at Rs236.02 to the dollar from previous day’s closing of Rs232.93 in interbank foreign exchange market.
Main board volumes remained dry whereas decent volumes were observed in the 3rd-tier stocks.
READ MORE: Pakistan stocks fall amid political uncertainty
Sectors contributing to the performance include Banks (+76.9 points), Chemicals (+54.2 points), Technology (+27.5 points), Engineering (+14.4 points) and Cement (+10.1 points).
Volumes decreased from 131.8 million shares to 121.6 million shares (-7.6 per cent DoD). Average traded value also decreased by 1.3 per cent to reach US$ 17.6 million as against US$ 17.8 million.
Stocks that contributed significantly to the volumes are LOTCHEM, WTL, TPLP, CNERGY and UNITY.
READ MORE: Weekly Review: market likely to stay positive on financial results
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Pakistan stocks end up in mixed trading session
KARACHI: Pakistan stocks ended up by 50 points on Tuesday in a mixed trading session due to markets was waiting decision from the Supreme Court.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,894 points from previous day’s closing of 39,844 points, showing a gain of 50 points.
READ MORE: Pakistan stocks fall amid political uncertainty
Analysts at Topline Securities said that Pakistan equities had a mixed session today as all eyes were on Supreme Court Verdict (scheduled to be announce at 5:45 PM today) regarding recently held Voting at Punjab Assembly for the Chief Minister Position.
The KSE 100 index initially opened on a negative note and made an intraday low at 39,713 (-131 points; down 0.33 per cent).
READ MORE: Weekly Review: market likely to stay positive on financial results
However, some buying interest kicked in at the aforesaid low level and assisted market to gain some lost ground by making an intraday high at 40,135 points (+291 points; up 0.73 per cent) before eventually settled at 39,894 points (+50 points; up 0.13 per cent) for the day.
READ MORE: Weekly Review: stocks likely to stay positive
OMC, Banks, E&P, Tech and Chemical sector stocks contributed positively to the index where PSO, MEBL, POL, TRG & LOTCHEM added 73 points, cumulatively. On the flip side, HUBC, INDU and BAFL have witnessed some profit taking as they lost 37 points collectively, today.
Around 131 million shares traded today at the bourse while total value clocked in at Rs4.2 billion.
TPLP led the volumes chart today with trading of 19.63 million shares in it, today.
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Pakistan stocks fall amid political uncertainty
KARACHI: Pakistan stocks fell by 233 points on Monday due to increasing uncertainties on both economic and political fronts.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,844 points from last Friday’s closing of 40,077 points in the interbank foreign exchange market.
READ MORE: Weekly Review: market likely to stay positive on financial results
Analysts at Topline Securities Research said that during the day lackluster amid low volumes witnessed at the bourse where benchmark KSE100 Index settled at 39,844 level (down 0.58 per cent).
Market kicked off negative making intraday low of 356 points, lack of contribution witnessed today as investors needed clarity over political and economic condition ahead.
The recent election for the chief minister in the Punjab Assembly was challenged by PTI and PML (Q) seeking relief from the Supreme Court. Meanwhile, other coalition partners are demanding the Supreme Court to form a full court to decide the case.
READ MORE: Weekly Review: stocks likely to stay positive
Furthermore, the rupee continued to decline and ended at Rs229.86 to the dollar in the interbank foreign exchange market, making new historic low against the greenback.
On the corporate front, ICI notified the exchange regarding public announcement of intention to acquire approximately 75.01 per cent shareholding of Lotte Chemical Pakistan Limited, resultantly LOTCHEM closed at its upper circuit.
READ MORE: Weekly Review: market likely to stay range-bound
Major negative contributors in today’s trading session were BAHL, UBL, SYS, ENGRO and HBL cumulatively dented the Index by 124 points,
Traded volume and value for the day stood at 75.28 million (approx. 35 months low) shares and Rs1.83 billion (approx. 36 months low), respectively. TPLP ruled the volume charts with 9.75 million shares exchanging hands.
READ MORE: Stocks gain 184 points in lackluster trading activity
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Weekly Review: market likely to stay positive on financial results
KARACHI: The stock market likely to stay positive during next week owing to expected improved financial results, said analysts at Arif Habib Limited.
The market is expected to be positive in the upcoming week. With the commencement of result session next week, certain scrips are expected to remain in the limelight.
READ MORE: Weekly Review: stocks likely to stay positive
Moreover, scrips are trading at cheap valuations, which may revive the momentum.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2022) compared to Asia Pac regional average of 12.2x while offering a dividend yield of 9.6 per cent versus 2.9 per cent offered by the region.
Political uncertainty took a toll on the market this week. The Pak Rupee continued to depreciate during the week, reaching an all-time low of Rs228.37 amid depletion of foreign reserves and uncertainty over funding from friendly countries.
READ MORE: Weekly Review: market likely to stay range-bound
Moreover, IMF is assessing which friendly countries are willing to provide financial aid to Pakistan before disbursing the loan of $1.2 billion.
Given the situation, the pressure was felt by the market, taking the index below 40,000 points. In addition to this, Fitch downgraded Pakistan’s rating outlook to negative. However, a slight rebound was observed on the last trading day.
The market closed at 40,077points, losing 1,998 points (down by 4.75 per cent) WoW.
Sector-wise negative contributions came from i) Commercial Banks (499 points), ii) Fertilizer (294 points), iii) Cement (245 points), iv) Oil & Gas Exploration Companies (187 points) and v) Power Generation & Distribution (110 points).
READ MORE: Stocks gain 184 points in lackluster trading activity
Whereas, sectors which contributed positive were i) Sugar & Allied Industries (3 points) and ii) Close-End Mutual Fund (2 points). Scrip-wise negative contributors were HBL (152 points), LUCK (92 points), ENGRO (92 points), EPCL (91 points) and HUBC (90 points). Meanwhile, scrip-wise positive contribution came from SML (3 points), HGFA (2 points), HINOON (2 points), MUREB (1 points) and DCR (1 points).
Foreign buying was witnessed this week, clocking in at $3.43 million compared to a net buy of $1.40 million last week. Major buying was witnessed in Technology ($1.98 million) and All Other Sectors ($0.75 million).
On the local front, selling was reported by Mutual Funds ($7.76 million) followed by Insurance Companies ($2.22 million). Average volumes clocked in at 163 million shares (down by 8 per cent WoW) while average value traded settled at $21 million (down by 31 per cent WoW).
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Pakistan stocks gain 245 points
KARACHI: Pakistan stocks gained 245 points on Friday amid inflation and political concerns. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,077 points from previous day’s closing of 39,832 points.
READ MORE: Pakistan stocks slump by 628 points on rupee fall
Analysts at Arif Habib Limited said that the market witnessed a bearish momentum during the first session due to inflationary and political concerns.
However, the bulls made a comeback in the second session for value hunting across the board as the benchmark KSE-100 closed in the green zone.
READ MORE: Pakistan stocks gain 71 points in range bound trading
Main board volumes continued to remain dull although decent volumes were observed in the 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (+83.2 points), Technology (+70.5 points), Chemical (+30.2 points), E&P’s (+27.6 points) and Cement (+26.9 points).
READ MORE: Pakistan stocks plunge 978 points on rupee devaluation
Volumes increased from 158.0 million shares to 171.2 million shares (+8.4 per cent DoD). Average traded value also increased by 10.5 per cent to reach US$ 20.7 million as against US$ 18.8 million.
Stocks that contributed significantly to the volumes are WTL, UNITY, TPLP, FFBL and CNERGY.
READ MORE: Pakistan stocks plunge 708 points in bloodbath session
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Pakistan stocks slump by 628 points on rupee fall
KARACHI: Pakistan stocks fell by 628 points on Thursday owing to continuous decline in rupee value against the US dollar.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 39,832 points from last day’s closing of 40,460 points, showing a decline of 628 points.
READ MORE: Pakistan stocks gain 71 points in range bound trading
Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed a bloodbath session today due to economic and inflationary concerns along with rupee depreciation against US Dollar.
The rupee made a new historic low at Rs226.81 to the dollar on July 21, 2022 as compared with previous day’s closing of Rs224.92 in the interbank foreign exchange market.
READ MORE: Pakistan stocks plunge 978 points on rupee devaluation
They said that the market opened in the positive zone but investors opted for selling which dragged the index to an intraday low of 658 points.
Volumes continued to remain dull across the board on the contrary decent volumes were observed in the 3rd tier stocks.
READ MORE: Pakistan stocks plunge 708 points in bloodbath session
Sectors contributing to the performance include Fertilizer (-100.0 points), Banks (-91.2 points), E&P (-78.8 points), Cement (-60.9 points) and Chemical (-45.4 points).
Volumes increased from 141.7 million shares to 158.0 million shares (+11.5 per cent DoD). Average traded value decreased by 4.8 per cent to reach US$ 18.9 million as against US$ 19.8 million.
Stocks that contributed significantly to the volumes are WTL, TPLP, UNITY, CNERGY and PRL.