KARACHI: Pakistan stocks ended up 89 points on Friday in a lackluster trading during the day.
(more…)Tag: Pakistan Stock Exchange
-
Pakistan stocks up 243 points on positive sentiments
KARACHI: Pakistan stocks gained 243 points on Thursday owing to positive sentiments prevailed after passage of finance bill by national assembly.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,541 points from previous day’s closing of 41,298 points, showing an increase of 243 points.
READ MORE: Pakistan stocks shed 468 points as banking shares fall
Analysts at Arif Habib Limited said that PSX witnessed a positive session today as PKR continued to extend gains against USD and cut-off yields on 3M & 6M T-bills fell by two basis points and 15 basis points respectively compared to the previous auction.
The benchmark KSE-100 index stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly. Volumes continued to remain dull, on the contrary 3rd tier stocks remained in the limelight.
READ MORE: Pakistan stocks shed 113 points on tough conditions
Sectors contributing to the performance include Banks (+111.5 points), E&P’s (+58.8 points), Power (+26.9 points), Technology (+24.9 points) and Cement (23.2 points).
Volumes increased from 142.2 million shares to 192.9 million shares (+35.7 per cent DoD). Average traded value also increased by 26.9 per cent to reach US$ 33.1 million as against US$ 26.1 million.
Stocks that contributed significantly to the volumes are KEL, AGL, FCCL, WTL and PRL.
-
Pakistan stocks shed 468 points as banking shares fall
KARACHI: Pakistan stocks on Wednesday lost 468 points due to major selling seen in banking scrips.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,298 points from previous day’s closing of 41,766 points, showing a decline of 468 points.
READ MORE: Pakistan stocks shed 113 points on tough conditions
Analysts at Topline Securities Research said Pakistan equities witnessed a negative day today.
Initially, market opened on a positive note today where the KSE100 index made an intraday high at 41,814. But rumors regarding possible restriction on dividend payment of those banks which want to reclassify their PIB profile triggered selling spree in the banking sector stocks which compelled the benchmark index to see an intraday low at 41,119 (-646 points; down 1.57 per cent).
READ MORE: Pakistan stocks gain 827 points on Chinese funds
However, some value hunting at the aforesaid low index level rescued the KSE100 index and assisted it to eventually settled at 41,298 (-468 points; down 1.12 per cent) for the day.
Banks, Tech and E&P sector stocks contributed negatively to the index where HBL, MCB, SYS, BAHL & MARI lost 269 points, cumulatively.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
On the flip side, COLG, EFERT and SNGP have witnessed some buying interest as they added 22 points collectively, today.
Around 142 million shares traded today at the bourse while total value clocked in at Rs5.3 billion. KEL led the volumes chart today with trading of 14.3 million shares in it, today.
-
Pakistan stocks shed 113 points on tough conditions
KARACHI: Pakistan stocks declined by 113 points on Tuesday as tough economic conditions forced the market to trade in range bound trajectory.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,766 points from previous day’s closing of 41,879 points, showing a decline of 113 points.
READ MORE: Pakistan stocks gain 827 points on Chinese funds
Analysts at Topline Securities Research said Pakistan equities closed on a negative note where benchmark KSE-100 Index settled at 41,765 level (down 0.27 per cent).
“Tough economic conditions let the market to trade in range bound trajectory where KSE100 Index traded in a range of 535 points as market make an intraday high of 271 points and a low of 264 points,” the analysts added.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
LUCK, NESTLE and POL were the major gainers in today’s trading session cumulatively added 71 points, where on the flip side FFC, BAHL and PSO were the major decliner cumulatively dented the Index by 77 points.
READ MORE: Pakistan stocks crash on super tax imposition
Around 257 million shares traded today at the bourse while total value clocked in at Rs7.7 billion. KEL was the volume leader of the day with trading of 28 million shares in it, today.
-
Pakistan stocks gain 827 points on Chinese funds
KARACHI: Pakistan stocks gained 827 points on Monday owing to positive sentiments after the inflows of $2.3 billion received from China.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,879 points from last Friday’s closing of 41,052 points, showing a gain of 827 points.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
Analysts at Topline Securities said that Pakistan equities commenced the week on a positive note on the backdrop of: arrival of Chinese funds of $2.3 billion received by country’s central bank over the weekend; progress on resumption of IMF program; and window dressing factor ahead of fiscal year end.
READ MORE: Pakistan stocks crash on super tax imposition
The KSE100 index initially opened on a positive, stayed positive throughout the day and eventually settled at 41,879 (+827 points; up 2.01 per cent) for the day.
E&P, Fertilizer, Tech and Banking sector stocks contributed positively to the index where MARI, FFC, SYS, MCB & HBL added 260 points, cumulatively. On the flip side, OGDC, DAWH and PPL have witnessed some profit taking as they lost 18 points collectively today.
READ MORE: Pakistan stocks rally on Chinese loan facility
Around 248 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 32mn shares in it, today.
READ MORE: Pakistan stocks shed 68 points on rupee depreciation
-
Weekly Review: stocks to respond positively to IMF deal
KARACHI: Pakistan stocks likely respond positively during next week due to expected deal with International Monetary Fund (IMF) as the country has met almost all the requirement.
Analysts at Arif Habib Limited believed clarity should emerge next week on certain economic policies which should aid sentiments at the bourse.
“It seems Pakistan has met all requirements to enter into the IMF program to receive the $1 billion tranche,” they added.
READ MORE: Pakistan stocks crash on super tax imposition
Once the package comes through, other sources of foreign exchange reserves should also open up which should relieve some pressure on dwindling foreign exchange reserves.
Chinese loan of $2.3 billion has already been rolled over and hence, it is expected that the market to be positive in the coming week.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2022) compared to Asia Pacific regional average of 11.8x while offering a dividend yield of around 9.6 per cent versus around 2.7 per cent offered by the region.
The analysts said that the market commenced on a negative note this week over uncertainty over the IMF Program, whereby the index shed 300 points DoD. However, the sentiment turned positive when a Chinese consortium of banks signed a $2.3 billion loan facility agreement, and the Economic Coordination Committee (ECC) approved the second installment of Rs96 billion to the Independent Power Producers (IPPs) of the 2002 power policy.
READ MORE: Pakistan stocks rally on Chinese loan facility
Furthermore, the finance minister announced that an IMF deal is imminent which also helped boost investor sentiment.
However, during the last trading session, the government announced a 10 per cent super tax on 13 major sectors as well as a 4 per cent additional levy on banks, which caused the market to spiral and hit an intra-day low of 40,555 points.
In other news, SBP reserves decreased by $748 million to $8.24 billion which put further pressure on the Pakistan Rupee (PKR), which dipped to an all-time low of 211.93 to the dollar, however the announcement of the China deal helped the PKR recover some lost ground and close at 207.48 for the week.
The market closed at 41,052 points, down by 1,089 points (down by 2.58 per cent) Week on Week (WoW).
Sector-wise negative contributions came from i) Banks (296 points), ii) E&Ps (194 points), iii) Cement (194 points), iv) Fertilizer (120 points) and v) Textile Composite (61 points).
READ MORE: Pakistan stocks shed 68 points on rupee depreciation
Whereas, sectors which contributed positively were i) Tobacco (12 points), ii) Insurance (12 points), and iii) Paper & Board (8 points).
Scrip-wise negative contributors were UBL (97 points), POL (88 points), ENGRO (83 points), LUCK (79 points) and HUBC (75 points). Meanwhile, scrip-wise positive contribution came from EFUG (20 points), KEL (18 points), KAPCO (13 points), PAKT (12 points) and PKGS (8 points).
READ MORE: Pakistan stocks gain 749 points on hopes of IMF program
Foreign selling was witnessed this week, clocking in at $ 2.39 million compared to a net sell of $ 1.91 million last week. Major selling was witnessed in All Other Sector ($ 3.5 million) and Banks ($ 1.9 million). On the local front, buying was reported by Individual ($ 7.0 million) followed by Other Organization ($ 3.4 million). Average volumes clocked in at 301 million shares (up by 73 per cent WoW) while average value traded settled at $ 44 million (up by 72 per cent WoW).
READ MORE: Rupee slips to new low at Rs211.93 against dollar
-
Pakistan stocks crash on super tax imposition
KARACHI: Pakistan stocks crashed on Friday and lost 1665 points owing to imposition of super tax on various sectors and individuals.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 41,052 points from previous day’s closing of 42,717 points, showing a decline of 1665 points.
READ MORE: Pakistan stocks rally on Chinese loan facility
Analysts at Arif Habib Limited said that the PSX witnessed a bloodbath session on Friday June 24, 2022 as Prime Minister announced a 10 percent tax on large-scale industries in a bid to shore up revenues for supporting the country’s poor amid rising inflation. The benchmark KSE-100 index stumbled to 2161 points. Volumes remained healthy while selling pressure was witnessed across the board.
READ MORE: Pakistan stocks shed 68 points on rupee depreciation
Sectors contributing to the performance include Banks (-404.9 points), E&P (-220.1 points), Fertilizer (-205.0 points), Cement (-192.7 points) and Power (-108.2 points).
READ MORE: Pakistan stocks gain 749 points on hopes of IMF program
Volumes increased from 349.5 million shares to 424.2 million shares (+21.4 per cent DoD). Average traded value also increased by 26.3 per cent to reach US$ 61.7 million as against US$ 48.9 million.
Stocks that contributed significantly to the volumes are KEL, CNERGY, PRL, TELE and UNITY.
READ MORE: Rupee slips to new low at Rs211.93 against dollar
-
Pakistan stocks rally on Chinese loan facility
KARACHI: Pakistan stocks rallied on Thursday following the announcement of a loan agreement worth approximately $2.3 billion between Pakistan and a consortium of Chinese banks.
(more…) -
Stock members asked to pay capital gain tax by June 30
KARACHI: Clearing members of Pakistan Stock Exchange (PSX) have been asked to pay Capital Gain Tax (CGT) on disposal of securities by June 30, 2022.
National Clearing Company of Pakistan Limited (NCCP) in a notification on Thursday stated that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period May 01, 2022 to May 31, 2022, would be collected on Thursday, June 30, 2022 through respective settling banks of the Clearing Members.
All clearing members have been asked to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.
READ MORE: NCCPL to collect CGT for August 2021 on October 29
Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period May 01, 2022 to May 31, 2022, would also be collected from the Pakistan Mercantile Exchange on Thursday, June 30, 2022.
Necessary details and reports for the said period have already been made available.
READ MORE: CGT rates on disposal of securities during Tax Year 2022
Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period April 01, 2022 to April 30, 2022. Necessary details and reports have already been made available in the CGT System.
Clearing Members and Pakistan Mercantile Exchange have been advised to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads. Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.
-
Pakistan stocks shed 68 points on rupee depreciation
KARACHI: Stocks fell by 68 points on Wednesday as Pakistan Rupee (PKR) extended losses against the US dollar during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,458 points as compared with previous day’s closing of 42,526 points, showing a decline of 68 points.
READ MORE: Pakistan stocks gain 749 points on hopes of IMF program
Analysts at Arif Habib Limited said that the benchmark KSE-100 index opened in the green zone as rupee, during the day, snapped its losing streak against the dollar gaining Rs3.80 in the interbank market.
The rupee made the gain a day after the government secured the much-anticipated deal with the International Monetary Fund (IMF).
“However, this gaining of Rupee against dollar was short-lived as PKR closed at 211.93,” the analysts said.
READ MORE: Rupee slips to new low at Rs211.93 against dollar
Investor opted for profit-taking in the last trading hour which led the index to close in the red zone. Volumes remained healthy in the main board stocks.
The Index closed at 42,458.14 points, down by 67.81 points (-0.16 per cent DoD). Sectors contributing to the performance include Cement (-39.7 points), Technology (-28.2 points), E&P’s (-21.4 points), OMC’s (-18.7 points) and Pharma (-11.6 points).
READ MORE: Pakistan stocks fall 364 points on dollar flight
Volumes decreased from 300.6 million shares to 266.1 million shares (-11.5 per cent DoD). Average traded value also decreased by 10.6 per cent to reach US$ 40.0 million as against US$ 44.7 million.
Stocks that contributed significantly to the volumes are PRL, TPLP, CNERGY, GGL and UNITY.
READ MORE: Weekly Review: falling rupee remains concern for stock market