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Tag: Pakistan Stock Exchange

  • KSE-100 index sheds 163 points in range bound trading

    KSE-100 index sheds 163 points in range bound trading

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Tuesday declined by 163 points amid range bound trading activity during the day.

    The KSE-100 index ended at 45,419 points as compared with previous day’s closing of 45,256 points.

    Analysts at Topline Securities said that another lack lustered day at PSX where bourse witnessed a range bound activity.

    The benchmark index cycled in 270 points during trading hours as KSE-100 index made an intraday high and low of 45,517 and 45,214, respectively before closing at 45,256.

    Investors’ sentiment remained low today in absence of any positive trigger as no progress on IMF program front, Chief of intelligence agency notification is yet to get issued and no updates on Saudi oil deferral payment facility.

    During the day, Technology, E&P and Banking sector’ stocks seen some profit taking where TRG, MARI, HBL, UBL, PPL & OGDC cumulatively lost 182 points while, SYS, MEBL & HUBC provided some support by contributing 86 points positively.

    On the corporate announcement fronts, MARI posted 1QFY22 EPS at Rs68.21. Earnings were inline with industry expectations. ISL earned the EPS of Rs6.13 1QFY22. Earnings were higher than industry expectations.

    During the day, all shares volumes and values stood at 162.97 million shares and Rs5.7 billion, respectively. HUMNL led the volumes chart today as 24.88 million shares traded today in it.

    Stocks end down on inflation concerns, high oil prices
  • Philip Morris declares 39% decline in quarterly profit

    Philip Morris declares 39% decline in quarterly profit

    KARACHI: Philip Morris (Pakistan) Limited on Tuesday announced a 39 per cent decline in its profit after tax for the quarter ended September 30, 2021.

    According to financial results shared with the Pakistan Stock Exchange (PSX), the company declared a profit of Rs351 million for the quarter ended September 30, 2021 as compared with the profit of Rs575.56 million in the same quarter of the last year.

    The board of directors of Philip Morris (Pakistan) Limited at its meeting held on October 26, 2021 approved the quarterly financial statements of the company for the quarter ended September 30, 2021.

    The company declared a net profit of Rs2.07 billion for the nine months period ended September 30, 2021 as compared with Rs1.83 billion in the same period of the last year.

    During the nine months ended September 30, 2021, the company’s net turnover stood at Rs12,789 million reflecting an increase of 7.5 per cent versus the same period last year.

    During the period, the Company’s contribution to the National Exchequer, in the form of excise duty, sales tax and other government levies, stood at Rs20,449 million (higher by 17.4 per cent compared to the same period last year) reflecting 60.9 per cent of nine months gross turnover.

    Unaltered excise rate on cigarettes in June 2021 during Federal Budget 2021/2022 is supporting Government Revenues and added to FBRs record revenue collection.

    During the first Quarter ended September 30, 2021 of the ongoing fiscal year 2021/22, the Company’s contribution to the National Exchequer (July’21-Sep’21) in the form of excise duty, sales tax and other Government levies, stood at Rs6,014 million (higher by 22.1 per cent versus prior period).

    No change in excise rates also led to consumer price stability of the tax paying cigarette brands, however, the price gap between tax paid and non-tax paid brands remains very significant and non-tax paid brands continue to sell lower than the minimum price for the purposes of levy and collection of federal excise duty of i.e. Rs63 per pack.

    We are of the view that Pakistan’s economy which started to gain momentum in the first half of the calendar year, is now facing serious challenges.

    The continuing rise of commodity and fuel prices internationally accompanied by a devaluation of the PKR v/s US$ has pushed up the inflation rate.

    The country’s economic challenges, therefore, need greater focus by the Government as it has already eroded the purchasing power of the common man.

    The management is concerned that the current volatile domestic and international economic environment might have serious consequences for the Company’s operations especially, as it may divert the cigarette consumer to cheaper illicit brands to offset the decline in their income.

    Philip Morris declares 37% growth in half year net profit
  • Stocks end down on inflation concerns, high oil prices

    Stocks end down on inflation concerns, high oil prices

    KARACHI: The stocks have witnessed a decline of 149 points on Monday owing to inflationary pressure and rise in international oil prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 45,429 points as compared with last Friday’s closing of 45,578 points.

    Analysts at Topline Securities said that a lackluster session was observed at the bourse today with the KSE-100 index closing the day at 45,429.

    Higher international oil prices coupled with concerns over the inflationary pressures kept the market in check.

    MEBL, LUCK, HBL, MLCF & AKBL were the major laggards in the KSE-100 index and cumulatively dragged the index down by 126.06 points while on the other hand THALL, PPL, DAWH, FFC & SHFA cumulatively added 62.2 points.

    Volumes remained extremely low after the introduction of the new PSX trading system which witnessed its 1st day live trading.

    The KSE All Share Index saw a volume and value traded of 165.91 million shares and Rs4.98 billion respectively. The volume leader for today was HUMNL with 50.757 million shares exchanging hands as the company notified the exchange that they have received a Public Announcement of Intention by Duraid Qureshi to acquire up to 35.15 per cent of the total issued paid up capital of the company.

    Stocks end down by 243 points on political unrest
  • Weekly Review: stock market likely to remain positive

    Weekly Review: stock market likely to remain positive

    KARACHI: The stock market is likely to stay positive during the next week as the IMF and Pakistan expected to reach an agreement.

    Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With IMF and Pakistan expected to reach agreement soon, the investor sentiment is anticipated to remain buoyant.

    Moreover, with the ongoing result season, certain sectors and scrips are expected to stay under limelight.

    Keeping in view concerns over inflation and devaluation of Pak Rupee against greenback, investors are expected to have a cautious approach.

    The KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.2x (2021) compared to Asia Pac regional average of 14.7x while offering a dividend yield of ~8.1 per cent versus ~2.2 per cent offered by the region.

    The market commenced on a negative note this week given the uncertainty over outcome of Pakistan-IMF talks tagged with surge in petroleum prices raising concerns over inflation.

    The market sentiment changed after Advisor to the PM informed that talks with IMF were moving in the positive direction, with staff-level agreement expected to be reached soon.

    Alongside this, the current account deficit for September 2021 narrowed by 24.5 per cent MoM to USD 1.1 billion, fueling the positive momentum.

    On the flip, continuous drop in PKR/USD parity to PKR 174 (all time high exchange rate), reduction in SBP reserves by 8 per cent WoW to USD 17.5 billion and FATF retaining Pakistan on grey-list in its plenary meeting, kept the index in check.

    Albeit, the market closed at 45,578 points, gaining 757 points (up by 1.7 per cent) WoW.

    Sector-wise positive contributions came from i) Commercial Banks (463 points), ii) Cement (184 points), iii) Oil & Gas Exploration Companies (137 points), iv) Fertilizer (107 points), and v) Insurance (42 points).

    Whereas, sectors which contributed negatively were i) Technology & Communication (155 points), and ii) Food & Personal Care Products (31 points).

    Scrip-wise positive contributors were HBL (187 points), UBL (150 points), ENGRO (99 points), LUCK (72 points) and MCB (64 points).

    Meanwhile, scrip-wise negative contribution came from TRG (113 points), PSO (27 points) and SYS (26 points).

    Foreign selling continued this week, clocking-in at USD 7.3 million compared to a net sell of USD 13.3 million last week. Major selling was witnessed in Fertilizer (USD 4.5 million) and Commercial Banks (USD 3.8 million). On the local front, buying was reported by Insurance Companies (USD 4.6 million) followed by Other Organizations (USD 2.5 million).

    Average volumes clocked-in at 299 million shares (down by 13 per cent WoW) while average value traded settled at USD 64 million (down by 10 per cent WoW).

    Stocks end down by 243 points on political unrest
  • Stocks end down by 243 points on political unrest

    Stocks end down by 243 points on political unrest

    KARACHI: The stocks fell by 243 points on Friday owing to protests by political parties against mounting inflation.

    The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 45,578 points as compared with the previous close of 45,821 points.

    Analysts at Topline Securities said that the KSE 100 index opened on a positive note and gain to make an intraday high of 217 points, however it failed to sustain its momentum on account of protest by right wing religious party and opposition party alliance (Pakistan Democratic Movement) across Pakistan.

    A major contributions to the index came from HBL, UBL, AICL, CHCC and THALL, as they cumulatively contributed 104 points to the index. On the flip side TRG, ENGRO, PPL, PSO, and OGDC, as cumulatively contributed 167 points to the index.

    Traded volume and value for the day stood at 301 million shares and Rs11.8 billion. HUMNL was today`s volume leader with 36 million shares.

    KSE-100 index up 322 points on IMF program hopes
  • Bestway to set up Brownfield cement plant

    Bestway to set up Brownfield cement plant

    KARACHI: Bestway Cement Limited announced on Friday its plans to significantly expand its production and energy capabilities with the establishment of a Brownfield cement plant and a 6.4 MW off-grid solar power plant.

    (more…)
  • KSE-100 index up 322 points on IMF program hopes

    KSE-100 index up 322 points on IMF program hopes

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Thursday gained 322 points on expected resumption of IMF program.

    The KSE-100 index closed at 45,821 points as against previous day’s closing of 45,500 points, showing an increase of 322 points.

    Analysts at Arif Habib Limited said that a clear signal of concluding IMF review and resumption of IMF Package by Shaukat Tarin swayed the index to add a total of 665 points during the session, which has cumulatively added around 3000 points since the near term bottom of 43200 points.

    Bank and E&P stocks contributed the most, whereas selling pressure was witnessed in Technology and Cyclicals (Cement and Steel) sectors.

    After making an intra-day high, Investors resorted to profit booking that brought the net gains to reach 322 points at the end of session.

    Anticipation of interest rate hike by SBP in the coming monetary policy helped the banking sector stocks to stage a rally, and E&P stocks inched up on the prospects of US$100/bbl for international crude oil price.

    Among scrips, BOP topped the volumes with 25.5 million shares, followed by TELE (24.2 million) and HUMNL (23.8 million).

    Sectors contributing to the performance include Banks (+220 points), E&P (+97 points), Fertilizer (+80 points), Cement (+31 points) and Chemical (+29 points).

    Volumes increased from 308.1 million shares to 338.3 million shares (+10 per cent DoD). Average traded value also increased by 29 per cent to reach US$ 76.8 million as against US$ 59.7 million.

    Stocks that contributed significantly to the volumes include BOP, TELE, HUMNL, WTL and UNITY, which formed 34 per cent of total volumes.

    KSE-100 index gains 870 points on IMF talks resumption
  • KSE-100 index gains 870 points on IMF talks resumption

    KSE-100 index gains 870 points on IMF talks resumption

    KARACHI: The KSE-100 index registered an increase of 870 points on Wednesday as investors’ sentiments improved on IMF talks resumption.

    The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) at 45,500 points as against last trading on October 18, 2021 at 44,629 points.

    Analysts at Arif Habib Limited said that as the news of resumptions of dialogue with IMF team relayed, investors’ concerns over the package started dissipating, causing the Index to make an upward swing.

    Cement, Technology, Banks, Fertilizer stocks remained in the limelight. Cement stocks led the index on news of Cement companies increasing the cement price / bag, whereas dwindling outflows from foreign counters in Banks and Fertilizer stocks also helped these sectors post healthy gains.

    Among scrips, WTL led the volumes with 49.3 million shares, followed by HUMNL (24.7 million) and BYCO (15.6 million).

    Sectors contributing to the performance include Banks (+201 points), Cement (+160 points), Technology (+106 points), Fertilizer (+79 points) and Textile (+49 points).

    Volumes increased from 248.2 million shares to 308.2 million shares (+24 per cent DoD). Average traded value also increased by 18 per cent to reach US$ 59.8 million as against US$ 50.8 million.

    Stocks that contributed significantly to the volumes include WTL, HUMNL, BYCO, TELE and UNITY, which formed 39 per cent of total volumes.

    Stocks that contributed positively to the index include TRG (+65 points), LUCK (+58 points), ENGRO (+50 points), HUBC (+49 points) and HBL (+44 points). Stocks that contributed negatively include OGDC (-8 points), NESTLE (-7 points), HGFA (-6 points), GHGL (-5 points) and KAPCO (-4 points).

  • KSE-100 index falls on uncertainty in IMF negotiations

    KSE-100 index falls on uncertainty in IMF negotiations

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 192 points on Monday. The index declined owing to uncertainty in dialogues of the government authorities with the IMF.

    The index closed at 44,629 points as against last Friday’s closing of 44,821 points.

    Analysts at Arif Habib Limited said that the market took pressure from the negative news vibes due to delay in negotiating the resumption of IMF package.

    Though, the Ministry of Finance highlighted that the negotiations are ongoing and underlying terms will be negotiated soon, the investors had not like the uncertainty.

    Oil chain and banking stocks went positive earlier in the session that added a total of 169 points on the index, however, selling pressure eroded this gain and MoC brought the Index in negative territory.

    Among scrips, HUMNL topped the volumes with 25.1 million shares, followed by WTL (20.8 million) and HASCOL (13.8 million).

    Sectors contributing to the performance include Technology (-146 points), Cement (-47 points), Engineering (-27 points), Textile (-24 points) and Refinery (-18 points).

    Volumes declined from 334.3 million shares to 248.3 million shares (-26 per cent DoD). Average traded value also declined by 25 per cent DoD to reach US$ 51 million as against US$ 68.2 million.

    Stocks that contributed significantly to the volumes include HUMNL, WTL, HASCOL, UNITY and DSL, which formed 34 per cent of total volumes.

    Stocks that contributed positively to the index include HBL (+48 points), MCB (+31 points), OGDC (+30 points), PPL (+29 points) and ENGRO (+27 points). Stocks that contributed negatively include TRG (-88 points), SYS (-47 points), BAHL (-42 points), FFC (-22 points) and UNITY (-17 points).

    Stocks gain 488 points on positive sentiments
  • Weekly Review: Stock market likely to move positive

    Weekly Review: Stock market likely to move positive

    KARACHI: The stock market likely to move positive during next week on hope of resumption of IMF program.

    Analysts at Arif Habib Limited said that the market to move positive as we get closer to resuming the IMF program and receiving a $1 billion tranche.

    Whereas recent bouts of selling at the index has once again opened up valuations; we advise investors to cherry-pick blue chip stocks with a long term focus, they said.

    Key short term risks include: regional volatility and the ensuing security concerns, together with PKR depreciation.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.2x (2021) compared to Asia Pac regional average of 14.7x while offering a dividend yield of 8.1 per cent versus 2.2 per cent offered by the region.

    The benchmark equity bourse closed in green after four weeks of bleeding. During the early part of the week investors resorted to panic selling amid lack of clarity on continuation of the IMF package as well as delay in the process to appoint a new Director General of the ISI (DG ISI).

    Albeit, with Finance Minister assuring that the government would soon address concerns of the global lender and resume the IMF’s EFF, as well as PM’s statement allaying any rumors of a military-political divide, the KSE-100 index posted two swift back to back bull runs. The market closed at 44,821 points, (gaining 344 points / up by 0.8 per cent WoW).

    Sector-wise positive contributions came from i) Commercial Banks (393 points), ii) Oil & Gas Exploration Companies (136 points), iii) Fertilizer (123 points), iv) Cement (98 points), and v) Pharmaceuticals (28 points). Whereas, sectors which contributed negatively were i) Technology & Communication (342 points), and ii) Food & Personal Care Products (50 points). Scrip-wise positive contributors were HBL (153 points), PPL (87 points), UBL (67 points), LUCK (59 points) and OGDC (42 points). Meanwhile, scrip-wise negative contribution came from TRG (260 points), SYS (70 points) and PAKT (27 points).

    Foreign selling continued this week, clocking-in at USD 13.3 million compared to a net sell of USD 3.7 million last week. Major selling was witnessed in Fertilizer Sectors (USD 12.1 million), Commercial Banks (USD 7.8 million) and Cement (USD 3.11 million). On the local front, buying was reported by Insurance Companies (USD 12.2 million) followed by Mutual Funds (USD 3.4 million). Average volumes clocked-in at 342 million shares (up by 29 per cent WoW) while average value traded settled at USD 71 million (up by 20 per cent WoW).

    Stocks gain 488 points on positive sentiments