Tag: Pakistan Stock Exchange

KARACHI: The continuous decline in rupee value is likely to haunt the stock market during the next week as analysts forecast range bound activity.

The analysts at Arif Habib Limited said that the market is likely range bound in the upcoming week amid concerns over Pakistani Rupee (PKR) depreciation and inflation.

READ MORE: Stocks remain range bound on PKR erosion

That said, valuations across the board particularly in blue-chips have reached attractive levels.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.2x (2023) compared to Asia Pac regional average of 12.2x while offering a dividend yield of 9.8 per cent versus 2.8 per cent offered by the region

The market remained range bound this week on the back of weak economic indicators and political uncertainty.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) declined to $8.62 billion this month, putting further pressure on the PKR which continued to weaken against greenback to settle at PKR 236.84 (down by PKR 3.8 per cent WoW).

READ MORE: Stocks shed 240 points on continuous PKR devaluation

Moreover, there was an 8 per cent growth in remittances this month increasing to $2.7 billion from $2.5 billion in the previous month. Furthermore, FATF concluded its onsite visit to Pakistan on Wednesday.

Overall the market remained lackluster. The market closed at 41,679 points, losing 269points (down by 0.64 per cent) WoW.

Sector-wise negative contributions came from i) Commercial Bank (172 points), ii) Fertilizer (89 points), iii) Cement (76 points), iv) Oil & Gas Exploration Companies (75 points) and v) Food & Personal Care Products (43 points).

Whereas, sectors which contributed positively were i) Technology & Communication (231 points), ii) Power Generation & Distribution (55 points), and Automobile Assembler (29 points).

READ MORE: Stocks end flat in volatile trading session

Scrip-wise negative contributors were HBL (81 points), FFC (54 points), MEBL (35 points), PPL (28 points) and HMB (24 points). Meanwhile, scrip-wise positive contribution came from TRG (248 points), HUBC (51 points), UBL (25 points), MTL (24 points) and COLG (18 points).

Foreigners buying was witnessed this week, clocking in at $13.8 million compared to a net sell of $2.82 million last week. Major buying was witnessed in Technology ($11.0 million) and other sectors ($3.1 million).

READ MORE: Stock market gains 139 points amid weak sentiments

On the local front, selling was reported by Insurance ($8.5 million) followed by Mutual Funds ($3.6 million). Average volumes clocked in at 183 million shares (up by 32 per cent WoW) while average value traded settled at $30 million (up by 46 per cent WoW).

KARACHI: Pakistan stocks remained range bound on Friday owing to continuous erosion in Pakistani Rupee (PKR) value against the US dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,679 points from previous day’s closing of 41,772 points, showing a decline of 93 points.

READ MORE: Stocks shed 240 points on continuous PKR devaluation

Analysts said that the investors were shaky due to uncertainties in the currency market as the local currency witnessed a continuous decline against the greenback.

The US Dollar made gain for 11th straight day against PKR to reach 236.84 at closing of interbank foreign exchange market on Friday.

The exchange rate recorded a decline of 96 paisas in rupee value to end at Rs236.84 to the dollar from previous day’s closing of Rs235.88 in the interbank foreign exchange market.

READ MORE: Stocks end flat in volatile trading session

The local currency recorded a decline of Rs18.24 or 8.34 per cent during the past 11 sessions from Rs218.60 against the dollar on September 01, 2022.

Analysts at Topline Securities said range bound session was observed at the bourse today, as the index juggled between intraday high of 145 points and intraday low of -169 points.

READ MORE: Stock market gains 139 points amid weak sentiments

Major contribution to the index came from TRG, COLG, ENGRO, HUBC & LOTCHEM, as they cumulatively contributed 125 points to the index, on the flip side MEBL, HBL, POL, PAKT and BAHL lost value to weigh down on the index by 112 points.

Investor participation declined on DoD basis as traded volume and volume for the day stood at 219 million shares (-15 per cent on DoD basis) and Rs8.88 billion (down 11 per cent on DoD basis) respectively.

TRG again led the volumes at the exchange, as about 27.6 million shares of the tech company exchanged hands today.

READ MORE: Pakistan stocks shed 86 points in range bound trading

KARACHI: Pakistan stocks declined by 240 points on Thursday owing to continuous fall in value of Pakistani Rupee (PKR) against the US dollar.

The benchmark KSE-100 index ended at 41,772 points from previous day’s closing of 42,012 points, showing a decline of 240 points.

READ MORE: Stocks end flat in volatile trading session

Analysts at Arif Habib Limited said that the benchmark index witnessed another range bound session on Thursday due to continued widening gap of US dollar against the Pakistani Rupee.

The devaluation in Pakistani Rupee (PKR) continued for 10th straight day as the US dollar ended PKR 235.88 in interbank foreign exchange market on Thursday.

READ MORE: Stock market gains 139 points amid weak sentiments

The exchange rate witnessed a decline of Rs1.56 in rupee value to end at Rs235.88 to the dollar from previous day’s closing of Rs234.32 in the interbank foreign exchange market.

The local currency recorded a decline of Rs16.08 or 8 per cent during the past 10 sessions from Rs218.60 against the dollar on September 01, 2022.

The market opened in the positive zone and continued the positive momentum throughout the day however, during the last trading hour profit taking was observed which led the index to close in the red.

READ MORE: Pakistan stocks shed 86 points in range bound trading

Volumes remained healthy in the main board on the contrary the hefty volumes were recorded in the 3rd tier stocks

Sectors contributing to the performance include Banks (-81.3 points), Fertilizer (-59.3 points), E&P’s (-57.1 points), Power (-37.5 points) and Cement (-32.0 points).

READ MORE: Weekly Review: market to stay range bound on inflation concerns

Volumes increased from 156.6 million shares to 260.0 million shares (+66.0 per cent DoD). Average traded value also increased by 54.41 per cent to reach US$ 42.9 million as against US$ 27.8 million.

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

KARACHI: Pakistan stocks ended flat on Wednesday as the market witnessed volatile trading session during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,012 points from previous day’s close of 42,001 points, showing a gain of 11 points.

READ MORE: Stock market gains 139 points amid weak sentiments

Analysts at Arif Habib Limited said that another range bound session was witnessed at PSX today due to concerns regarding political noise and continuous hammering of Pak Rupee (PKR) against US dollar.

The Pakistani Rupee (PKR) continued its falling spree for the ninth consecutive session against the dollar as the foreign currency ended at PKR 234.32 at closing of the interbank foreign exchange market on Wednesday.

READ MORE: Pakistan stocks shed 86 points in range bound trading

The exchange rate witnessed a decline of Rs2.41 in rupee value to end at Rs234.32 to the dollar from previous day’s closing of Rs231.92 in the interbank foreign exchange market.

The benchmark KSE-100 index witnessed a volatile session as investors opted to remain sideways. Main board volumes remained decent although IPPs sector remained in the limelight.

READ MORE: Weekly Review: market to stay range bound on inflation concerns

Sectors contributing to the performance include Technology (+70.5 points), Power (+54.4 points), E&P’s (+23.9 points), Leather & Tanneries (+9.8 points) and Textile (+8.2 points).

Volumes increased from 118.5million shares to 156.6million shares (+32.1 per cent DoD). Average traded value also increased by 69.1 per cent to reach US$ 27.9million as against US$ 16.5million.

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

READ MORE: Pakistan stocks end up 123 points in range bound activity

KARACHI: The stock market gained 139 points on Tuesday in weak sentiments on falling rupee value.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,001 points as compared with previous day’s closing of 41,862 points, showing a gain of 139 points.

READ MORE: Pakistan stocks shed 86 points in range bound trading

Analysts at Arif Habib Limited said another range bound session was witnessed at the PSX today. The market opened in positive zone and continued to trade in a consolidated range as investor’s participation remained dull throughout the day due to weakening Pak rupee against US dollar. However, in the last trading hour value buying was noticed.

READ MORE: Weekly Review: market to stay range bound on inflation concerns

The Index closed at 42,001.34 points, up by 139.05 points (+0.33 per cent DoD). Sectors contributing to the performance include Banks (+75.0 points), Automobile Assemblers (+35.7 points), Cements (+33.5 points), Power (+22.0 points) and Textile (+8.5 points).

READ MORE: Pakistan stocks end up 123 points in range bound activity

Volumes decreased from 161.5 million shares to 118.5 million shares (-26.6 per cent DoD). Average traded value also decreased by 33.3 per cent to reach US$ 16.7 million as against US$ 25.2 million.

Stocks that contributed significantly to the volumes are HASCOL, KEL, QUICE, JSBL and WTL.

READ MORE: Pakistan stocks gain 59 points in lackluster trading

KARACHI: Pakistan stocks recorded a decline of 86 points on Monday in range bound trading during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 41,862 points from last Friday’s closing of 41,948 points, showing a decline of 86 points.

READ MORE: Weekly Review: market to stay range bound on inflation concerns

Analysts at Arif Habib Limited said that the range bound session was witnessed at the PSX today due to mounting inflation, economic and political concerns.

No materialization of funds from friendly nations kept sentiments in check.

READ MORE: Pakistan stocks end up 123 points in range bound activity

The benchmark KSE-100 index observed a volatile session as investors opted to remain sideways due to continuous fleet of US dollar against Pak rupee. Value traded leaders were TRG, ICI and AVN.

Sectors contributing to the performance include Cement (-28.5 points), Food & Personal Care (-18.4 points), Chemicals (-17.0 points), Fertilizers (-15.4 points) and Investment Banks (-14.5 points).

READ MORE: Pakistan stocks gain 59 points in lackluster trading

Volumes increased from 146.6 million shares to 161.4 million shares (+10.1 per cent DoD). Average traded value decreased by 18.2 per cent to reach $ 25.4 million as against $ 31.0 million.

Stocks that contributed significantly to the volumes were TRG, SCBPL, KEL and CENERGY.

READ MORE: Pakistan stocks shed 94 points on PKR depreciation

KARACHI: Stock market likely to stay range bound during the next week owing to rising inflation concerns and rupee depreciation.

KARACHI: Pakistan stocks remained range bound on Friday and ended the week with a gain of 123 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,948 points from previous day’s closing of 41,825 points, showing a gain of 123 points.

READ MORE: Pakistan stocks gain 59 points in lackluster trading

Analysts at Ismail Iqbal Securities said that Pakistan equities remained range bound today and closed positive.

Market largely traded in the positive zone during the trading session, where index gained to make an intraday high of 275 points and finally settled at 41,986 level (up by 0.29 per cent), analyst at Topline Securities said.

READ MORE: Pakistan stocks shed 94 points on PKR depreciation

Major contribution to the index came from TRG, POL, FFC, MEBL and PAKT, as they cumulatively contributed 125 points to the index.

KAPCO in the power sector garnered investor interest after its notice to the exchange in which it disclosed that its Power Purchase Agreement (PPA) has been extended till September 21, 2024, where around 12.8 million shares of the company exchanged hands and it closed 1.5 per cent higher from its previous day close.

READ MORE: Pakistan stocks end flat amid rupee depreciation

Increased participation was observed in the market as traded volume and value for day stood at 146 million shares (up by 34 per cent on DoD basis) and Rs7.11 billion (up by 62 per cent on DoD basis) respectively.

TRG led the volumes at the exchange with 15 million shares.

READ MORE: Pakistan stocks plunge by 450 points on GDP forecast

KARACHI: Pakistan stocks on Thursday ended with a gain of 59 points in lackluster trading session.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,825 points from previous day’s closing of 41,766 points, showing a gain of 59 points.

READ MORE: Pakistan stocks shed 94 points on PKR depreciation

Analysts at Arif Habib Limited said that another slow session was witnessed at PSX today as rupee continued its devaluation against US dollar.

The exchange rate recorded a decline of Rs2 to end at Rs225.42 against the dollar on September 8, 2022 at interbank foreign exchange market.

READ MORE: Pakistan stocks end flat amid rupee depreciation

The market continued to trade sideways after opening in the positive zone although economic and political unrest kept the investors on the sideline.

Volumes remained dry across the main board however value buying was recorded in the last trading hour.

Sectors contributing to the performance include Cement (+96.5 points), Technology (+20.8 points), Textile (+9.7 points), Chemical (+9.2 points) and Glass & Ceramics (+6.5 points).

READ MORE: Pakistan stocks plunge by 450 points on GDP forecast

Volumes increased from 92.9 million shares to 108.7 million shares (+17.0 per cent DoD). Average traded value also increased by 39.1 per cent to reach US$ 19.5 million as against US$ 14.0 million.

Stocks that contributed significantly to the volumes are MLCF, LOTCHEM, HASCOL, PIOC and FFL.

READ MORE: Weekly Review: investors to remain cautious over socio-economic situation