Tag: Pakistan Stock Exchange

KARACHI: Pakistan stocks ended down by 83 points on Wednesday due to rising political noise following audio leak related to cypher.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,435 points from previous day’s closing of 41,518 points, showing a decline of 83 points.

READ MORE: Stocks gain 367 points amid clarity on political ground

Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed a bullish trend today as the index traded in green zone for most of the session.

The PSX opened in the positive zone although in the last trading hour investors opted for profit taking as political noise built up.

READ MORE: Stocks climb 531 points over PKR recovery

Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Wednesday confirmed the authenticity of the audio leak – featuring him and his principal secretary at the time, Azam Khan – and said that it is “a good thing” thing that the conversation was leaked, adding that the diplomatic cypher they were discussing should also be released to the public.

The ousted premier talked to media personnel at the Punjab House after an audio clip between the two PTI leaders surfaced online earlier today, wherein they were discussing the diplomatic cypher.

READ MORE: Weekly Review: Stocks may return to positive

Volumes continued to remain decent in the main board, on the flip side hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include Technology (-57.3 points), Fertilizer (-30.1 points), E&Ps (-24.6 points), Engineering (-7.1 points) and Automobile Assemblers (-7.1 points).

READ MORE: Pakistan stocks plunge by 308 points on profit taking

Volumes decreased from 230.7 million shares to 220.6 million shares (-4.4 per cent DoD). The average traded value also decreased by 16.6 per cent to US$ 34.6 million as against US$ 41.5 million.

Stocks that contributed significantly to the volumes are TPLP, CNERGY, KEL, GGL and PRL.

KARACHI: Pakistan stocks gained 367 points on Tuesday after further clarity on political ground.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,518 points from previous day’s closing of 41,151 points, showing a gain of 367 points.

READ MORE: Stocks climb 531 points over PKR recovery

Analysts at Arif Habib Limited said that PSX witnessed a positive session today as further clarity on political ground pushed the market in the green and maintained its upward trend from the previous close.

Meanwhile, Pakistani Rupee (PKR) continued to strengthen against US Dollar giving the investor’ confidence boost.

The PKR gained sharply against the US dollar during last three sessions on Tuesday on lower international oil prices and nomination of Ishaq Dar as finance minister.

READ MORE: Weekly Review: Stocks may return to positive

The local unit strengthened by PKR 5.80 against the dollar during the last three sessions. The exchange rate reached near to record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 233.91 on September 27, 2022.

In contrast to solid main board volumes, third tier companies continued to remain in the limelight.

READ MORE: Pakistan stocks plunge by 308 points on profit taking

Sectors contributing to the performance include E&Ps (+93.1 points), Banks (+55.0 points), Cement (+42.5 points), Fertilizer (+39.2 points) and Pharmaceuticals (+20.7 points).

Volumes increased from 213.0 million shares to 230.7 million shares (+8.3 per cent DoD). The average traded value also increased by 1.1 per cent to US$ 41.1 million as against US$ 40.7 million.

Stocks that contributed significantly to the volumes are TPLP, TRG, KEL, CNERGY and WTL.

READ MORE: Stocks remain under pressure on political noise

KARACHI: Pakistan stocks gained 531 points on Monday following sharp recovery in Pakistani Rupee (PKR) against the US dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,151 points from last Friday’s closing of 40,620 points, showing a gain of 531 points.

READ MORE: Weekly Review: Stocks may return to positive

The bulls dominated at PSX throughout the day. The market opened in the positive zone as Pak rupee made a sharp recovery against US Dollar.

The US dollar tumbled against the Pakistani Rupee (PKR) by Rs2.63 on Monday on the nomination of Ishaq Dar as finance minister of the country. The exchange rate recorded a gain of Rs2.63 in rupee value to end at Rs237.02 to the dollar from last Friday’s closing of Rs239.65 in the interbank foreign exchange market.

READ MORE: Pakistan stocks plunge by 308 points on profit taking

Currency experts said that the market responded positively to nomination of Ishaq Dar as the finance minister by the present coalition government headed by PML (N).

Investors gained confidence over clarity on the political grounds as volumes climbed significantly in the main board. Hefty volumes were also recorded in the 3rd tier stocks.

READ MORE: Stocks remain under pressure on political noise

Sectors contributing to the performance include Technology (+111.8 points), Power (104.4 points), Cement (78.9 points), OMC’s (+34.8 points) and Banks (+33.5 points).

Volumes increased from 165.3 million shares to 213.0 million shares (+28.9 per cent DoD). The average traded value also increased by 38.5 per cent to US$ 40.2 million as against US$ 29.0 million.

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

READ MORE: Pakistan stocks dip for 4th straight session as PKR fall continues

KARACHI: Pakistan stocks likely to trade in positive during the next week as the country fully complied with the conditions of Financial Action Task Force (FATF).

Analysts at Arif Habib Limited hoped that market would return to turn positive as Pakistan is fully compliant on FATF’s action plan and an announcement of status is expected in the upcoming week.

READ MORE: Pakistan stocks plunge by 308 points on profit taking

Moreover, financial aid for flood relief from international financial institutions and friendly countries is expected soon, which should curtail the free fall in Pakistani Rupee (PKR) against the dollar.

The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2023) compared to Asia Pac regional average of 12.5x while offering a dividend yield of 9.8 per cent versus 2.8 per cent offered by the region.

READ MORE: Stocks remain under pressure on political noise

The market opened on positive note this week given Saudi Fund of $3 billion was rolled over till next year while IMF assured support for flood relief and reconstruction.

However, the momentum could not sustain owed to bleeding foreign reserves of the State Bank of Pakistan (SBP) (falling by $278 million WoW), which led the Pak Rupee to further depreciate against greenback (closing at PKR 239.65 towards end of the week).

In addition to this, the foreign direct investment (FDI) during first two months of the fiscal year 2022/2023 plummeted by 26 per cent YoY.

Furthermore, the LSM output reported a 1.4 per cent YoY| 16.5 per cent MoM fall in July 2022. Meanwhile, the investors opted for value buying amid the expectation of receiving $1.5 billion, $0.5 billion and $0.2 billion from the Asian Development Bank (ADB), Asian Infrastructure Investment Bank, and the Japanese Government, respectively.

READ MORE: Pakistan stocks dip for 4th straight session as PKR fall continues

Moreover, the World Bank is also expected to give flood-related support of $1.7 billion. Alongside this, the current account reduced by 54 per cent YoY in August 2022, which further cushioned the overall decline in the index during the week. The market closed at 40,620 points, shedding 1,059points (down by 2.5 per cent) WoW.

Sector-wise negative contributions came from i) E&P (251 points), ii) Banks (246 points), iii) Cement (123 points), iv) Power (74 points) and v) OMCs (73 points).

Whereas, sectors which contributed positively were i) Tobacco (15 points), and Automobile Parts (2 points). Scrip-wise negative contributors were PPL (117 points), OGDC (84 points), LUCK (83 points), MEBL (66 points) and HMB (51 points).

READ MORE: Pakistan stocks extend losses on PKR free-fall to dollar

Meanwhile, scrip-wise positive contribution came from TRG (21 points), PAKT (15 points), UNITY (8 points), FFC (6 points) and IBFL (4 points).

Foreigners buying continued this week, clocking in at $5.09 million compared to a net buy of $13.8 million last week. Major buying was witnessed in Technology ($6.6 million), E&P ($0.5 million), Cement ($0.5 million) and OGMCs ($0.3 million).

On the local front, selling was reported by Insurance ($3.3 million) followed by Mutual Funds ($2.4 million). Average volumes clocked in at 166 million shares (down by 9 per cent WoW) while average value traded settled at $26 million (down by 13 per cent WoW).

KARACHI: Pakistan stocks plunged by 308 points on Friday as investors preferred profit taking on the last trading day of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 40,620 points from previous day’s closing of 40,928 points, showing a decline of 308 points.

READ MORE: Stocks remain under pressure on political noise

Analysts at Arif Habib Limited said that the market witnessed a mixed session as bulls and bears fought for the dominance all day long.

The opening session consisted of a positive motion as the rupee broke its losing streak against the US dollar.

READ MORE: Pakistan stocks dip for 4th straight session as PKR fall continues

In the second session, investors opted for profit taking in the last hour which led the index to lose 373.96 points. Volumes remained dry across the board whereas, hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (-112.1 points), Cement (-38.4 points), Power (-36.2 points), Technology (-31.4 points) and Fertilizer (-30.3 points).

READ MORE: Pakistan stocks extend losses on PKR free-fall to dollar

Volumes decreased from 190.0 million shares to 164.4 million shares (-13.5 per cent DoD). The average traded value increased by 8.6 per cent to US$ 28.6 million as against US$ 26.4 million.

Stocks that contributed significantly to the volumes are HASCOL, TRG, KEL, CNERGY and WTL.

READ MORE: Rupee ends near historic low; Dollar gains to PKR 239.65

KARACHI: Pakistan stocks remained under pressure during the day on Thursday due to appearance of PTI Chief Imran Khan before the higher court in contempt case.

The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) largely remained under pressure during the trading session on account of Pakistan Tehreek-i-Insaf (PTI) Chairman announcement of launching of fresh movement from Saturday to press the government to announce early election.

READ MORE: Pakistan stocks dip for 4th straight session as PKR fall continues

“However some recovery was observed in the last hours of trading as PTI Chairman apologized before the Islamabad High Court in his contempt of court case,” said Nabeel Haroon, analysts at Topline Securities.

The benchmark KSE-100 index ended at 40,928 points from previous day’s closing of 40,965 points, showing a decline of 37 points.

Analysts at Arif Habib Limited stated that PSX witnessed a negative session due to prevailing political noise.

READ MORE: Pakistan stocks extend losses on PKR free-fall to dollar

“The benchmark KSE-100 index nosedived following the same trend from the previous session although in the last trading hour value buying was recorded,” they added.

Volumes continued to thrive in the main board whereas hefty volumes were observed in the 3rd tier stocks.

Sectors contributing to the performance include Banks (-19.3 points), Autos (-16.3 points), Inv. Banks (-11.6 points), Pharma (-11.3 points) and Power (-11.2 points).

READ MORE: Rupee ends near historic low; Dollar gains to PKR 239.65

Volumes increased from 170.4 million shares to 190.0 million shares (+11.5 per cent DoD). The average traded value also increased by 30.9 per cent to US$ 26.4 million as against US$ 20.1 million.

Stocks that contributed significantly to the volumes are WTL, CNERGY, TRG, KEL and SILK.

READ MORE: Weekly Review: PKR free fall to haunt stock market

KARACHI: Pakistan stocks continued to fall for 4^th straight session on Wednesday due to negative sentiments in the wake of devaluation in Pakistani Rupee (PKR).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) recorded a decline of 255 points to end at 40,966 points from previous day’s closing of 41,221 points.

READ MORE: Pakistan stocks extend losses on PKR free-fall to dollar

The stock market has lost over 1,000 points during last four sessions after closing at 42,012 points on September 14, 2022.

Analysts at Arif Habib Limited said another down-close session today after a positive open zone.

“Continued pressure on the PKR softened sentiment to take the KSE-100 below 41k,” the analysts said, adding all eyes now on the FED tonight and the quantum of rate increase.

READ MORE: Rupee ends near historic low; Dollar gains to PKR 239.65

PKR on Wednesday continued its losing streak for 14th consecutive session against the dollar and ended near to the historic low of PKR 239.65 in the interbank foreign exchange market.

The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

The exchange rate recorded a decline of 74 paisas to end at PKR 239.64 to the dollar from previous day’s close of PKR 238.91 in the interbank foreign exchange market.

READ MORE: Weekly Review: PKR free fall to haunt stock market

The local currency has maintained the free-fall for the last 14 sessions. During this period the local currency depreciated by PKR 21.04 against the dollar from the interbank closing on September 01, 2022 at PKR 218.60.

Sectors contributing to the performance include E&P (-91.9 points), Cement (-39.3 points), Technology (-26.9 points), Banks (-24.3 points) and OGMCs (-22.2 points).

READ MORE: Stocks remain range bound on PKR erosion

Volumes increased from 156.2 million shares to 170.4 million shares (+8.8 per cent DoD). The average traded value decreased by 14.8 per cent to US$ 20.1 million as against US$ 23.7 million.

Stocks that contributed significantly to the volumes are KEL, TPLP, TRG, CNERGY and WTL.

KARACHI: Stocks on Tuesday extended losses owing to continues decline in Pakistani Rupee (PKR) against the US dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,221 points from previous day’s closing of 41,520 points, showing a decline of 299 points.

READ MORE: Stocks end down by 159 points as PKR devaluation continues

PSX recorded decline for the third straight session.

Analysts at Arif Habib Limited said that the market observed a negative session today as US Dollar continued its flight against PKR.

The PKR witnessed the fall for 13th consecutive session on Tuesday as the US dollar ended near record high in interbank foreign exchange market.

The exchange rate recorded a decline of PKR 1 to end at PKR 238.91 to the dollar from previous day’s closing of PKR 237.91 in interbank foreign exchange market.

READ MORE: Weekly Review: PKR free fall to haunt stock market

The local currency recorded a decline of Rs20.31 or 9.34 per cent during the past 13 sessions from Rs218.60 against the dollar on September 01, 2022.

The analysts said that the benchmark KSE-100 index opened in the positive zone but failed to sustain in the green zone which led the index to an intra-day low of 441.88 points and close in the red zone.

READ MORE: Stocks remain range bound on PKR erosion

Volumes remained decent in the main board whereas hefty volumes were witnessed in the 3rd tier stocks.

Sectors contributing to the performance include E&P (-123.2 points), Technology (-57.8 points), Banks (-27.3 points), Cement (-24.1 points) and Power (-23.6 points).

READ MORE: Stocks shed 240 points on continuous PKR devaluation

Volumes increased from 148.2 million shares to 156.6 million shares (+5.6 per cent DoD). The average traded value decreased by 24.6 per cent to reach US$ 23.7 million as against US$ 31.5 million.

Stocks that contributed to the volumes are KEL, TPLP, TRG, WTL, and EPCL.

KARACHI: Pakistan stocks ended down by 159 points on Monday as the devaluation in Pakistani Rupee (PKR) continued.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,520 points as compared with last Friday’s closing of 41,679 points, showing a decline of 159 points.

READ MORE: Weekly Review: PKR free fall to haunt stock market

Analysts at Arif Habib Limited said that the PSX closed down on the day having failed to regain the 42,000 level after a bullish open.

Big week for global rates with the FED expected to hike rates by at least 75 basis points kept sentiments in check.

PKR continued to lose ground against the USD despite Saudi Fund for Development rolling over $3 billion for a year.

READ MORE: Stocks remain range bound on PKR erosion

Sectors contributing to the performance include Banks (-63.5 points), Cement (-31.0 points), Chemical (-30.6 points), OGMCs (-19.2 points) and Glass (-14.9 points).

Volumes decreased from 219.4 million shares to 148.2 million shares (-32.4 per cent DoD). Average traded value also decreased by 15.4 per cent to reach US$ 31.6 million as against US$ 37.4 million.

READ MORE: Stocks shed 240 points on continuous PKR devaluation

Value leaders for the day were TRG which hit 120, TGL which closed at limit down following earnings, and ENGRO which was supported by rumors of a potential buyback.

Stocks that contributed significantly to the volumes are TRG, TPLP, HASCOL, HUMNL, and EPCL.

READ MORE: Stocks end flat in volatile trading session