Pakistan stocks experienced a significant boost on Monday as the KSE-100 index surged by 520 points, driven by investor optimism following the resumption of talks between Pakistan and the International Monetary Fund (IMF) for a new loan program.
(more…)Tag: Pakistan Stock Exchange
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Weekly Review: market likely to stay range bound
KARACHI: The equity market likely to stay range bound during next week, analysts at Arif Habib Limited said.
The market is expected to be range bound in upcoming week. Moreover, the new government is in talks with IMF for revival of program. Any breakthrough in this regarding is likely generate activity in market.
READ MORE: Stocks end down 100 points in range-bound trading
Keeping in view the ongoing result season, certain sectors and scrips are expected to stay in the limelight.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.9x (2022) compared to Asia Pacific regional average of 12.8x while offering a dividend yield of 8.5 per cent versus 2.7 per cent offered by the region.
The market commenced on a positive note this week. With a jump in international oil prices, exploration and production scrips remained in the limelight.
READ MORE: Stocks slide 390 points on volatile exchange rate
However, the positive momentum couldn’t sustain for long over economic concerns such as PKR depreciation (closing the week at PKR 186.70) and IMF program resumption.
Meanwhile, increase in trade deficit widen to USD 3.6bn during March 2022 further exerted pressure on the scrips. Furthermore, downward revision of growth target forecast to 4 per cent by World Bank and rise in treasury bill yields (70bps) further suppressed the sentiment.
READ MORE: Pakistan stocks shed 62 points on profit taking
The bourse closed at 45,553 points, shedding 1,049 points (down by 2.3 per cent) WoW.
Sector-wise negative contributions came from i) Commercial Banks (396 points), ii) Cement (221 points), iii) Technology & Communication (99 points), iv) Power Generation & Distribution (74 points), and v) Miscellaneous (72 points).
Whereas, sectors which contributed positively were i) Oil & Gas Exploration Companies (88 points), ii) Chemical (31 points), iii) Fertilizer (10 points), iv) Glass & Ceramics (3 points), and v) Textile Spinning (1 points). Scrip-wise negative contributors were HBL (90 points), BAHL (85 points), LUCK (70 points), SYS (66 points) and PSEL (66 points). Meanwhile, scrip-wise positive contribution came from OGDC (56 points), FFC (45 points), PPL (43 points), LOTCHEM (28 points), and EFERT (27 points).
READ MORE: Dollar ends near PKR 187 in interbank market
Foreign selling was witnessed this week, clocking-in at USD 0.97 million compared to a net buy of USD 1.29 million last week. Major selling was witnessed in Commercial Banks (USD 1.74 million) and Food and Personal Care Products (USD 0.14 million).
On the local front, buying was reported by Individuals (USD 7.03 million) followed by Companies (USD 0.87 million). Average volumes clocked-in at 225 million shares (down by 53 per cent WoW) while average value traded settled at USD 41 million (down by 39 per cent WoW).
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Stocks end down 100 points in range-bound trading
KARACHI: Pakistan Stocks ended down by 100 points on Friday owing to range-bound trading and depreciation of local currency.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,553 points from the previous day’s closing of 45,653 points, showing a decline of 100 points.
READ MORE: Stocks slide 390 points on volatile exchange rate
Analysts at Arif Habib Limited said that a range bound secession was observed at PSX today due to further devaluation of Pakistan Rupee (PKR) against US dollars and concerns over a spike in T-Bill yields.
The market opened in the green zone but failed to sustain the positive trend as profit selling was witnessed in the main board. The secession remained dull although 3rd tier stocks continued their positive momentum.
READ MORE: Pakistan stocks shed 62 points on profit taking
The Index closed at 45,553.02 down by 99.60 points (-0.22 per cent DoD). Sectors contributing to the performance include Misc. (-66.8 points), Chemical (-30.5 points), Fertilizer (-25.9 points), Banks (-24.8 points) and Power (-21.2 points).
Volumes increased from 186.4 million shares to 217.6 million shares (+16.7 per cent DoD). Average traded value decreased by 5.8 per cent to reach US$ 28.4 million as against US$ 30.1 million.
Stocks that contributed significantly to the volume are CNERGY, HUMNL, LOTCHEM, TPLP and GGL.
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Pakistan stocks fall 290 points on PKR devaluation
KARACHI: Pakistan stocks have declined by 290 points on Thursday owing to further depreciation in Pakistan Rupee (PKR) against the dollar.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,653 points from previous day’s closing of 45,943, showing a decline of 290 points.
READ MORE: Stocks slide 390 points on volatile exchange rate
Analysts at Arif Habib Limited said that the market remained under pressure today due to further devaluation of PKR against the US Dollar and concerns over spikes in Market Treasury Bill yields.
READ MORE: Dollar ends near PKR 187 in interbank market
Despite opening in the green zone KSE-100 failed to sustain the positive zone as profit taking was observed. “In the last trading hour rally was witnessed in the refinery sector as PRL announced tremendous financial results beating analyst expectations.”
Analysts at Topline Securities said that Pakistan equities had a direction less day today where the benchmark KSE 100 index kicked off the day in the green zone, made an intraday high at 46,067 (+124 points; up 0.27 per cent) and low at 45,600 (-343 points; down 0.75 per cent) before settling at 45,653 (-291 points; down 0.63 per cent) for the day.
READ MORE: Pakistan stocks shed 206 points on profit taking
During the day, ENGRO announced its 1Q2022 result where EPS clocked at Rs13.84 (-4 per cent YoY while up 67 per cent QoQ). Earnings was above industry expectations. In addition to this, the result also accompanied a dividend of Rs.12 per share. Moreover, above expected refinery sector companies (ATRL & PRL) results lured investors’ interest in both the names as they closed +2.31 per cent & +7.46 per cent, respectively.
READ MORE: Pakistan stocks shed 62 points on profit taking
Sectors contributing to the performance include Banks (-61.8 points), E&P (-37.3 points), Fertilizer (-35.3 points), Cement (-34.7 points) and Technology (-32.1 points)
Volumes decreased from 235.0 million shares to 186.4 million shares (-20.7 per cent DoD). Average traded value also decreased by 29.8 per cent to reach US$ 30.1 million as against US$ 42.8 million.
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Stocks slide 390 points on volatile exchange rate
KARACHI: Pakistan stocks have declined by 390 points on Wednesday owing to volatile exchange rate.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,943 points from previous day’s close of 46,333 points, showing a decline of 390 points.
READ MORE: Pakistan stocks shed 206 points on profit taking
Analysts at Arif Habib Limited said that profit taking continued at PSX today, KSE-100 index opened positive but could not sustain in green zone as profit taking dragged the index down to red zone due to weakening of Pak rupee against US Dollar, the session remained dull whereas hefty volumes were observed in 3rd tier stocks.
READ MORE: Pakistan stocks shed 62 points on profit taking
Meanwhile, the analyst at Topline Securities said that Pakistan equities continued its downwards trend where benchmark KSE-100 Index settled at 45,943 level (down 0.84 per cent). “After a slight positive opening, market continued to slid where market make an intraday low of 390 points.”
READ MORE: Weekly Review: Bullish trend likely to prevail
Sectors contributing to the performance include Banks (-98.3 points), Cement (-87.5 points), E&P (-67.22 points), Fertilizer (-45.6 points) and Power (-20.7 points)
Volumes increased from 228.6 million shares to 235.0 million shares (+2.8 per cent DoD). Average traded value decreased by 9.4 per cent to reach US$ 43.1 million as against US$ 47.5 million.
Stocks that contributed significantly to the volumes are CNERGY, TPLP, GGL, MLCF and TELE.
READ MORE: KSE-100 index gains 117 points amid positive sentiments
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Pakistan stocks shed 206 points on profit taking
KARACHI: Pakistan stocks declined by 206 points on Tuesday as the market witnessed profit taking during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 46,333 points from previous day’s closing of 46,539 points, showing a decline of 206 points.
READ MORE: Pakistan stocks shed 62 points on profit taking
Analysts at Arif Habib Limited said that the market witnessed profit taking today, KSE-100 index opened on a positive note but couldn’t sustain in green zone as investor opted for profit selling across the board due to weakening of Pak rupee against US Dollar. Main board activity remained dull but hefty volumes were recorded in 3rd tier stocks.
READ MORE: Weekly Review: Bullish trend likely to prevail
Analysts at Topline Securities said that Pakistan equities closed red where benchmark KSE100 Index settled at 46,333 level (down 0.44 per cent). The day kicked off on a positive note where market make an intraday high of 206 points as investors cheered EPCL result announcement and material information’s where the company announced expansions and its 1Q2022 EPS at Rs5.19 along with DPS of Rs.5 which led the stock to close at its upper cap. However some profit taking has been witnessed in the second half where major laggards were HUBC, PPL, TRG and OGDC cumulatively dented the Index by 134 points.
READ MORE: KSE-100 index gains 117 points amid positive sentiments
Sectors contributing to the performance include Banks (-89.2 points), E&P’s (-72.0 points), Technology (-51.0 points), Power (-42.6 points) and Cement (-37.2 points).
Volumes decreased from 255.6 million shares to 228.6 million shares (-10.6 per cent DoD). Average traded value also decreased by 8.4 per cent to reach US$ 47.9 million as against US$ 52.3 million.
Stocks that contributed significantly to the volumes are CENERGY, GGL, WTL, TELE and LOTCHEM.
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Pakistan stocks shed 62 points on profit taking
KARACHI: Pakistan stocks fell by 62 points on Monday owing to profit taking witnessed during the trading.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,541 points from last Friday’s closing of 46,602 points, showing a decline of 62 points.
READ MORE: Weekly Review: Bullish trend likely to prevail
Analysts at Topline Securities said that Pakistan equities commenced the week on a positive note led by Oil & Gas Exploration sector on the backdrop of rally in global oil prices and market chatter of one time heavy dividend in the OGDC and PPL stocks.
The benchmark KSE-100 index kicked off the day in the green zone and made an intraday high at 46,970 (+369 points; up 0.79 per cent).
READ MORE: KSE-100 index gains 117 points amid positive sentiments
But, at the aforesaid level profit taking took place which pushed market towards the intraday low at 46,419 (-183 points; down 0.39 per cent) before settling at 46,540 (-62 points; down 0.13 per cent) for the day.
E&P, Fertilizer and Power sector’s stocks contributed positively today to the benchmark index where OGDC, PPL, FFC, HUBC & POL added 261 points, cumulatively.
READ MORE: Pakistan stocks rally on PKR stability
On the flip side, SYS, EPCL, LUCK & UBL have seen some profit taking as they lost 98 points collectively, today.
About 255 million shares traded today at the bourse while total value clocked in at Rs. 9.6 billion. GTECH was the volume leader of the day with the trading of 21.1 million shares in it, today.
READ MORE: Pakistan stocks slide 242 points in profit taking
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Weekly Review: Bullish trend likely to prevail
KARACHI: Bullish trend likely to prevail in the stock market during next week owing to clarity on the political front.
Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week.
READ MORE: KSE-100 index gains 117 points amid positive sentiments
With commencement of the result season and clarity on the political front, certain sectors and scrips are expected to stay under limelight.
Furthermore, the rollover of Chinese loans worth USD 2.3 billion and IMF negotiations, which will help bolster foreign exchange reserves.
While any dip in oil prices should also have a positive impact on the equity bourse.
READ MORE: Pakistan stocks rally on PKR stability
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.0x (2022) compared to Asia Pacific regional average of 11.5x while offering a dividend yield of 8.3 per cent versus 2.6 per cent offered by the region.
In the outgoing week the market roared back after political clarity emerged. Following Prime Minister Shehbaz Sharif’s oath taking ceremony, the new coalition government has begun work to tackle the economy.
Moreover, the rupee recovered against the dollar at a rapid pace closing at 181.4, marking a 3.6 per cent appreciation.
READ MORE: Pakistan stocks slide 242 points in profit taking
Additionally, the country received record high remittances this month clocking in at $2.8 billion, showing a 28 per cent increase MoM, on account of Ramadan / Eid.
Although, there was a slight correction mid-week, the market sustained momentum and posted its highest WoW increase since 3rd April 2020. The bourse closed at 46,602 points, (up by 4.9 per cent) WoW.
Sector-wise positive contributions came from i) Commercial Banks (395 points), ii) Fertilizer (292 points), iii) Technology & Communication (268 points), iv) Cement (241 points), and v) Refinery (129 points).
Whereas, sectors which contributed negatively i) Real Estate Investment Trust (2.19 points), ii) Vanaspati & Allied Industries (1.55 points). Scrip-wise positive contribution came from ENGRO (152 points), TRG (136 points), MEBL (122 points), HBL (85 points), and SYS (80 points).
READ MORE: Stocks gain 262 points on political stability
Meanwhile, scrip-wise negative contributors were COLG (14 points), FABL (10.88 points), Fatima (4.74 points), ABL (3.18 points) and DCR (2.19 points).
Foreign buying witnessed this week, clocking-in at USD 1.29 million compared to a net sell of USD 3.78 million last week. Major buying was witnessed in Technology (USD 2.21 million) and Fertilizer (USD 1.16 million).
On the local front, Selling was reported by Mutual Funds (USD 9.89 million) followed by Insurance Companies (USD 7.76 million). Average volumes clocked-in at 477 million shares (up by 213 per cent WoW) while average value traded settled at USD 66.3 million (up by 135.6 per cent WoW).
READ MORE: Stocks up 1700 points, highest ever single day gain
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KSE-100 index gains 117 points amid positive sentiments
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 117 points on Friday amid positive sentiment prevailed during the day.
The KSE-100 index closed at 46,601 points from previous day’s closing of 46,484 points, up by 117.11 points.
READ MORE: Pakistan stocks rally on PKR stability
Analysts at Arif Habib Limited said that market stayed in the green zone throughout the day. KSE-100 index opened in the positive zone. Sensitive Price Indicator (SPI) for the week ended April 14,-2022 recorded a decrease of 0.68 per cent week on week while up by 16.44 per cent YoY basis.
Moreover, LSMI output increased by 7.8 per cent YoY during 8MFY22. Main board activity remained dull but hefty volumes were recorded in the 3rd tier stocks.
READ MORE: Pakistan stocks slide 242 points in profit taking
In the last trading hour, profit taking was witnessed specially in the refinery sector.
Sectors contributing to the performance include Fertilizer (45.7 points), Banks (+37.9 points), E&P’s (+22.3 points), Inv. Banks (+14.7 points) and Refinery (+11.6 points).
READ MORE: Stocks gain 262 points on political stability
Volumes decreased from 494.9 million shares to 365.8 million shares (-26.1 per cent DoD). Average traded value also decreased by 21.8 per cent to reach US$ 50.3 million as against US$ 64.2 million.
Stocks that contributed significantly to the volumes are CNERGY, WTL, GGL, PRL, and MLCF.
READ MORE: Stocks up 1700 points, highest ever single day gain
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Pakistan stocks rally on PKR stability
KARACHI: Pakistan stocks rallied on Thursday owing to to stability in Pakistan Rupee (PKR) against the dollar.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,484 points from last day’s closing of 46,165 points, up by 319 points.
READ MORE: Pakistan stocks slide 242 points in profit taking
Analysts at Arif Habib Limited said that positive session was observed at PSX today due to stability in Pak rupee against dollar.
Rally was witnessed in refinery sector due to expectation of tremendous earnings in the upcoming financial result.
Main board activity remained dull whereas hefty buying was witnessed in the 3rd tier stocks.
READ MORE: Stocks gain 262 points on political stability
Across the board buying was observed in the last trading hour which led the market to close in the green zone.
Analysts at Topline Securities said that Pakistan equities closed on a green note where benchmark KSE-100 Index settled at 46,484 (up 0.69 per cent).
During the day, range-bound activity witnessed in the first half however market pick up momentum where KSE-100 index made an intraday high of 344 points. Investors interest mostly witnessed in Fertilizers, Refinery and Cement sector where ENGRO, ATRL, MLCF closed higher.
READ MORE: Stocks up 1700 points, highest ever single day gain
Sectors contributing to the performance include Fertilizer (76.2 points), Cement (+58.8 points), Chemicals (+37.9 points), Refinery (+23.3 points) and Inv. Banks (+18.0 points)
Volumes increased from 474.6 million shares to 494.9 million shares (+4.3 per cent DoD). Average traded value decreased by 5.4 per cent to reach US$ 64.3 million as against US$ 68.0 million.
Stocks that contributed significantly to the volumes are CNERGY, WTL, FLYING, TELE and MLCF.
READ MORE: Weekly Review: stock market likely trade in green