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

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.

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