Tag: KSE-100

KARACHI: Pakistan stocks gained 71 points on Wednesday in a range bound session trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 40,460 points from previous day’s closing of 40,389 points, showing an increase of 71 points.

READ MORE: Pakistan stocks plunge 978 points on rupee devaluation

Analysts at Arif Habib Limited said that the market witnessed a range bound session today.

“The benchmark KSE-100 index remained sideways due to continuous Pak rupee devaluation against US dollar and political unrest,” they added.

READ MORE: Pakistan stocks plunge 708 points in bloodbath session

The local currency continued its free-fall against the dollar and hit fresh low at Rs224.92 to the greenback on Wednesday at closing of interbank foreign exchange market.

The volumes remained dry although the last trading hour witnessed value buying in the E&P sector.

READ MORE: Weekly Review: stocks likely to stay positive

Sectors contributing to the performance include E&P (+73.3 points), Banks (+29.0 points), OMC’s (+15.8 points), Power (+13.6 points) and Technology (11.8 points).

Volumes decreased from 194.9 million shares to 141.7 million shares (-27.3 per cent DoD). Average traded value also decreased by 22.2 per cent to reach US$ 20.0 million as against US$ 25.7 million.

Stocks that contributed significantly to the volumes are TPLP, WTL, CNERGY, UNITY and PRL.

READ MORE: Weekly Review: market likely to stay range-bound

KARACHI: Pakistan stocks plunged by 978 points on Tuesday owing to political instability and massive rupee devaluation.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,389 points from previous day’s close of 41,367 points, showing a decline of 978 points.

READ MORE: Pakistan stocks plunge 708 points in bloodbath session

Analysts at Arif Habib Limited said that bears took charge at the stock market today as bloodbath continued.

Despite opening in the green zone, benchmark KSE-100 index dropped down to an intraday low of 40,216 levels (1150.73 points negative).

READ MORE: Weekly Review: stocks likely to stay positive

Selling momentum continued across the board due to political unrest and rupee devaluation against US Dollar, marking a historic high in the interbank and open market. 

The Pakistan Rupee (PKR) recorded a decline of Rs6.79 to end at historic low of Rs221.99 to the dollar at interbank foreign exchange market.

READ MORE: Weekly Review: market likely to stay range-bound

The Index closed at 40,389.07 points, down by 978.04 points (-2.36 per cent DoD). Sectors contributing to the performance include Banks (-235.3 points), E&P (-139.5 points), Fertilizer (-130.6 points), Cement (-99.6 points) and Power (-57.1 points).

Volumes increased from 151.4 million shares to 194.9 million shares (+28.8 per cent DoD). Average traded value also increased by 32.7 per cent to reach US$ 26.1 million as against US$ 19.6 million.

Stocks that contributed significantly the volumes are KEL, WTL, CNERGY, CLVLR and UNITY.

READ MORE: Stocks gain 184 points in lackluster trading activity

KARACHI: Pakistan stocks lost 708 points on Monday as political uncertainty resulted in a bloodbath session.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,367 points from previous day’s closing of 42,075 points, showing a decline of 708 points.

READ MORE: Weekly Review: stocks likely to stay positive

Analysts at Topline Securities commented that Pakistan equities commenced the week on a bearish note on the backdrop of increasing noise on the political front after the surprise clean sweep victory of PTI (Opposition party to the ruling coalition) in Bi-Election held in the biggest province of the country.

Meanwhile, analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed a bloodbath session today over prevailing political uncertainty in the country.

READ MORE: Weekly Review: market likely to stay range-bound

The market opened in the negative zone and remained under pressure throughout the day as investors opted for panic selling due to rupee devaluation against USD.

The main board volumes remained dull although hefty volumes were observed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (-127.6 points), Cement (-106.6 points), Fertilizer (-106.2 points), E&P (-69.1 points) and Technology (-67.9 points).

READ MORE: Stocks gain 184 points in lackluster trading activity

Volumes increased from 140.1 million shares to 151.4 million shares (+8.0 per cent DoD). Average traded value decreased by 18.9 per cent to reach US$ 20.3 million as against US$ 25.0 million.

Stocks that contributed significantly to the volumes are WTL, KEL, TPLP, PRL and CLVLR.

READ MORE: Pakistan stocks up amid rupee depreciation

KARACHI: The Pakistan stocks likely to stay positive owing to more flows of foreign funds after an agreement signed by the country and the International Monetary Fund (IMF).

Analysts at Arif Habib Limited said that with Pakistan and IMF reaching staff-level agreement, the government plans to raise funds worth $9 billion-$ 10 billion from international financial institutions such as World Bank, Asian Development Bank and Islamic Development Bank which will help build-up reserves.

READ MORE: Weekly Review: market likely to stay range-bound

The analysts expect the market to be positive in next week. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.3x (2022) compared to Asia Pacific regional average of 10.2x while offering a dividend yield of 9.1 per cent versus 3.0 per cent offered by the region.

The three-day week commenced on a positive note given Government reached a staff-level agreement with the IMF, which would enable the disbursement of the $1.2 billion under the Extended Fund Facility subject to approval of Executive Board (IMF).

READ MORE: Stocks gain 184 points in lackluster trading activity

Alongside this, approval by Prime Minister Shehbaz Sharif for the reduction in petroleum prices (reducing MS and HSD by PKR 18.50/litre and PKR 40.54/litre) was also welcomed by the market.

On the other hand, the Pak Rupee further depreciated after staging a briefing recovery post announcement of IMF deal (closing the week at PKR 210.95), leading to bearish momentum on the last trading day of the week. The index closed at 42,075points, gaining 731 points (up by 1.8 per cent) WoW.

Sector-wise positive contributions came from i) Commercial Banks (194 points), ii) Cement (99 points), iii) Technology & Communication (93 points), iv) Fertilizer (85 points) and v) Oil & Gas Exploration Companies (82 points).

READ MORE: Pakistan stocks up amid rupee depreciation

Whereas, sectors which contributed negatively were i) Automobile Assembler (22 points) and ii) Pharmaceuticals (9 points). Scrip-wise positive contributors were MEBL (84 points), SYS (70 points), PSO (53 points), LUCK (45 points) and PPL (39 points). Meanwhile, scrip-wise negative contribution came from COLG (17 points), ABOT (15 points), MTL (10 points), POL (10 points) and EFUG (9 points).

Foreign buying was witnessed this week, clocking in at USD 1.40 million compared to a net buy of USD 1.63 million last week. Major buying was witnessed in all other sectors (USD 0.43 million) and banks (USD 0.36 million).

On the local front, selling was reported by Banks/DFIs (USD 1.43 million) followed by Insurance Companies (USD 1.13 million). Average volumes clocked in at 178 million shares (up by 97 per cent WoW) while average value traded settled at USD 31 million (up by 108 per cent WoW).

READ MORE: Pakistan stocks fall on IMF program concerns

KARACHI: Pakistan stocks ended down 274 points on Friday as range bound trading observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,075 points from previous day’s closing at 42,349 points, showing a decline of 274 points.

READ MORE: Pakistan stocks gain 486 points on IMF loan agreement

Analysts at Arif Habib Limited said that the market remained range bound throughout the day as investors opted for profit taking.

The benchmark KSE-100 index opened in the positive zone but lackluster activity pulled the index down by 321 points.

The stock market in the previous two days celebrated the signing of Staff Level Agreement (SLA) between Pakistan and the International Monetary Fund (IMF).

READ MORE: Pakistan equities gain 519 points on IMF deal rumors

Analysts at Topline Securities said that range bound session was observed at the exchange as the index traded between an intraday high of 151 points and intraday low of 322 points to finally close at 42,075 level (down by -0.65 per cent).

The analysts at Arif Habib Limited said that volumes remained dry in the main board although healthy volumes were witnessed in the 3rd tier stocks.

READ MORE: Weekly Review: market likely to stay range-bound

Sectors contributing to the performance include Banks (-69.7 points), E&P (-55.1 points), Cement (-45.7 points), Engineering (-21.5 points) and Fertilizer (-19.6 points).

Volumes decreased from 227.8 million shares to 140.1 million shares (-38.5 per cent DoD). Average traded value also decreased by 27.7 per cent to reach US$ 25.5 million as against US$ 35.2 million.

Stocks that contributed significantly to the volumes are PAEL, UNITY, SNGP, WTL and CNERGY.

READ MORE: Stocks gain 184 points in lackluster trading activity

KARACHI: Pakistan stocks on Wednesday gained 486 points owing to positive sentiments after a staff level agreement reached between the country and the International Monetary Fund (IMF).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,349 points from previous day’s closing of 41,863 points, showing an increase of 486 points.

READ MORE: Pakistan equities gain 519 points on IMF deal rumors

Analysts at Topline Securities said that Pakistan equities carried forward yesterday’s jubilant sentiments after official announcement regarding Government of Pakistan and IMF have reached Staff Level Agreement (SLA) which will unlock $1.2 billion disbursement under the Extended Fund Facility (EFF) program.

Earlier today a statement issued by the IMF regarding the agreement. IMF staff and the Pakistani authorities have reached a staff level agreement on policies to complete the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF). The agreement is subject to approval by the IMF’s Executive Board. Subject to Board approval, about $1,177 million (SDR 894 million) will become available, bringing total disbursements under the program to about $4.2 billion, the IMF said.

READ MORE: Weekly Review: market likely to stay range-bound

Additionally, in order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board will consider an extension of the EFF until end-June 2023 and an augmentation of access by SDR 720 million that will bring the total access under the EFF to about US$7 billion.

The analysts said that Initially, market opened on a positive note today, stayed in the green zone during the whole day and eventually settled at 42,349 (+486 points; up 1.16 per cent) for the day.

READ MORE: Stocks gain 184 points in lackluster trading activity

Investors opted to continue value hunting across the board in anticipation of stability on the macro front post IMF program resumption.

Tech, Fertilizer, Banks, and Cement sector stocks contributed positively to the index where SYS, ENGRO, MEBL, LUCK & BAHL added 170 points, cumulatively. On the flip side, COLG, POL and ABOT have witnessed some profit taking as they lost 29 points collectively, today.

Around 227 million shares traded today at the bourse while total value clocked in at Rs7.4 billion. KEL led the volumes chart today with trading of 32 million shares in it, today.

READ MORE: Pakistan stocks up amid rupee depreciation

Pakistan’s equity market experienced a significant surge on Wednesday, gaining 519 points on the back of rumors suggesting the finalization of a deal between authorities and the International Monetary Fund (IMF).

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KARACHI: Pakistan stock market likely to stay range-bound during next week due to fewer days of trading because of Eid holidays.

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KARACHI: Pakistan stocks gained 184 points on Thursday amid lackluster trading activity observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,344 points from previous day’s closing of 41,160 points, showing a gain of 184 points.

READ MORE: Pakistan stocks up amid rupee depreciation

Analysts at Topline Securities Research said that lackluster activity was observed at the exchange as the index traded between an intraday high of +237 points and intraday low of -150, to finally close at 41,344 level.

Investor interest was observed in gas distribution companies (SNGP & SSGC) and E&P companies (OGDC & PPL) on news that Petroleum Division has reportedly proposed a massive increase in price of natural gas, which when implemented will stop further increase in gas circular debt.

READ MORE: Pakistan stocks fall on IMF program concerns

Analysts at Arif Habib Limited said that the bulls and bears continued to fight the battle throughout the day ahead of Monetary Policy Committee (MPC).

KSE-100 index opened in the green zone as investors opted for value buying in the E&P sector. Main board volumes remained dull.

Sectors contributing to the performance include E&P (+73.9 points), Fertilizer (+41.3 points), Banks (+25.8 points), OMC’s (+21.0 points) and Technology (+12.0 points).

READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues

Volumes increased from 98.2 million shares to 99.1 million shares (+0.9 per cent DoD). Average traded value also increased by 50.2 per cent to reach US$ 19.4 million as against US$ 12.9 million.

Stocks that contributed significantly to the volumes are LOTCHEM, OGDC, SNGP, PRL and CNERGY.

Traded volume and value for the day stood at 98.5 million shares and Rs.4bn respectively. LOTCHEM was today`s volume leader with 7.3 million shares.

READ MORE: Pakistan may see further 100bps hike in policy rate

KARACHI: Pakistan stocks ended with a gain of 57 points on Wednesday despite investors’ concerns of falling rupee value and expected rate hike in upcoming monetary policy.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,160 points from previous day’s close of 41,103 points, showing a gain of 57 points.

READ MORE: Pakistan stocks fall on IMF program concerns

Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed sluggish session.

Investor’s participation continued to remain dry due to concerns regarding rate hike in the upcoming monetary policy and PKR depreciation against the dollar.

READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues

The exchange rate recorded a decline of Rs1.05 in the value of Pakistan Rupee (PKR) to end at Rs207.99 against the dollar from previous day’s closing of Rs206.94 in the interbank foreign exchange market.

The State Bank of Pakistan (SBP) is scheduled to announce monetary policy statement on July 07, 2022. The market consensus believed an increase of 100 basis points to 14.75 per cent in the key policy rate.

READ MORE: Pakistan may see further 100bps hike in policy rate

Main board activity remained dull but decent volumes were recorded in the 3rd tier stocks.

Sectors contributing to the performance include Banks (+35.9 points), Cement (+15.5 points), Technology (13.9 points), Power (+11.7 points) and OMC (+6.7 points).

Volumes increased from 76.9 million shares to 98.2 million shares (+27.8 per cent DoD). Average traded value also increased by 12.2 per cent to reach US$ 12.9 million as against US$ 11.5 million.

Stocks that contributed significantly to the volumes are AGL, UNITY, ANL, LOTCHEM and SNGP.

READ MORE: Weekly Review: stocks to stay positive on improved forex reserves