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Tag: Pakistan Stock Exchange

  • Saigols of KTML disclose availing amnesty scheme

    Saigols of KTML disclose availing amnesty scheme

    KARACHI: Kohinoor Textile Mills Limited (KTML) on Thursday shared information disclosing that its senior management has avail an amnesty scheme of undeclared foreign assets.

    A communication sent to Pakistan Stock Exchange (PSX) stated that the following shareholders of KTML informed that they had made to the Federal Board of Revenue (FBR) declarations of assets acquired/held outside Pakistan in July 2018 under the Foreign Assets (Declaration and Repatriation) Act, 2018 and intimated about their beneficial ownership of KTML.

    Following is shareholding detail prior to the declaration by virtue of the Declaration Act:

    01. Taufique Sayeed Saigol, Chief Executive Officer/Director, shareholding in KTML is 43,425,059, the percentage of paid up capital is 14.51 per cent.

    02. Mrs. Shehla Tariq Saigol, substantial shareholder, shareholding in KTML is 30,377,143, the percentage of paid-up capital is 10.51 per cent.

    Further, the above shareholders of KTML are indirectly ultimate beneficial owners in the proportion of 50 per cent each in the following two foreign companies which are also substantial shareholders of KTML as under:

    01. Mercury Management Inc., BVI (MMI), substantial shareholder, shareholding in KTML is 73,390,890, percentage of paid-up capital is 24.52 per cent.

    02. Hutton Properties Limited, BVI (HPL), substantial shareholder, shareholding in KTML is 49,639,992, percentage of paid-up capital is 16.59 per cent.

    Accordingly, it is notified that, pursuant to the Declarations made under the Declaration Act, their aggregate shareholding in KTML is as under:

    The shareholding of Taufique Sayeed Saigol, Chief Executive Officer / Director in KTML after including assets declared under amnesty scheme increased to 106,940,503 or percentage of share capital in KTML increased to 35.06 per cent.

    Similarly, the shareholding of Mrs. Shehla Tariq saigol, a substantial shareholder in KTML after including assets declared under the amnesty scheme increased to 91,892,587 or percentage of share capita in KTML increased to 30.70 per cent.

    The communication sent to the PSX, the company said: “In accordance with the highest legal ethical standards and acting out of abundant caution in a wholly precautionary way, the above-named shareholders have declared their proportionate shares of indirect shareholding ownership held in KTML through MMI and HPL managed by Saim Family Trust, a Settler Reserved Discretionary Trust.”

    Assets held and controlled by this Discretionary Trust would only be available to the beneficiaries at the discretion of the trustees, whenever distributed, it added.

    “It is clearly stated that such assets are not yet distributed by the Trustees.”

    FTO declares Car Amnesty Scheme illegal
  • KSE-100 index plunges by 510 points on profit-booking

    KSE-100 index plunges by 510 points on profit-booking

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 510 points on Thursday. The index fell owing to profit booking during the day.

    The index closed at 46,903 points as against the previous day’s closing of 47,413 points, showing a decline of 510 points.

    Analysts at Arif Habib Limited said that the market saw a draw-down of 539 points during the session, which came in the backdrop of depreciating rupee, rising costs of commodities (particularly coal for Cement) and redemption calls at mutual funds end.

    The cement sector saw significant selling pressure followed by Banks and Technology stocks due to cost pressures and limited flexibility to pass on the costs.

    Weak investor sentiment as evident from longer than anticipated consolidation of the KSE-100 benchmark made even the depreciating rupee a negative factor for Technology, Textile, and E&P stocks, which would otherwise benefit.

    Among scrips, GGL topped the volumes with 57.9 million shares, followed by WTL (53.3 million) and ANL (42.1 million).

    Sectors contributing to the performance include Banks (-138 points), Cement (-125 points), Fertilizer (-43 points), E&P (-38 points) and Technology (-32 points).

    Volumes increased from 536.6 million shares to 544.4 million shares (+1 percent DoD). The average traded value also increased by 12 percent to reach US$ 96.2 million as against US$ 8.1 million.

    Stocks that contributed significantly to the volumes include GGL, WTL, ANL, SERFR, and TELE, which formed 41 percent of total volumes.

    Stocks that contributed positively to the index include NRL (+8 points), PSX (+7 points), ATRL (+7 points), BYCO (+6 points), and MARI (+4 points). Stocks that contributed negatively include UBL (-41 points), HBL (-40 points), LUCK (-36 points), MCB (-30 points) and CHCC (-25 points).

  • Stock market ends flat in range-bound trading

    Stock market ends flat in range-bound trading

    KARACHI: The stock market ended flat on Wednesday in range-bound trading activities observed during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,413 points as against the previous day’s closing of 47,420 points, showing a decline of 6 points.

    Analysts at Arif Habib Limited said that the first day of the month saw range-bound activity with sideboard scrips performing better than blue chips.

    The index swayed +209 points and -65 points. Volumes and price-performance were witnessed in TPLP, TELE, WTL, and HUMNL out of which TPLP and TELE hit upper circuits and maintained that level till closing.

    Banks, Cement, Fertilizer, Power and Refinery sectors ended the session in red, whereas Technology sector led the Index. Among scrips, WTL topped the volumes with 162.2 million shares, followed by TELE (45.1 million) and GGL (31.5 million).

    Sectors contributing to the performance include Banks (-33 points), Cement (-14 points), Autos (-12 points), Technology (+40 points), Engineering (+13 points), and Fertilizer (+12 points).

    Volumes increased substantially from 378.8 million shares to 536.6 million shares (+41 percent DoD). The average traded value also increased by 2 percent to reach US$ 86.1 million as against US$ 84 million.

    Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL, and TREET, which formed 52 percent of total volumes.

    Stocks that contributed positively to the index include TRG (+29 points), LUCK (+12 points), FABL (+10 points), EPCL (+9 points), and ENGRO (+8 points). Stocks that contributed negatively include HBL (-18 points), MCB (-15 points), MEBL (-14 points), INDU (-11 points) and PSEL (-9 points).

    Stocks inch up in range bound trading
  • Stocks inch up in range bound trading

    Stocks inch up in range bound trading

    KARACHI: The stock market gained 54 points on Tuesday in a range bound trading observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,420 points from the previous day’s closing of 47,366 points.

    Analysts at Topline Securities said that a range-bound session was observed at the exchange today with the KSE 100 Index printing an intra-day high of 47,596 and an intra-day low of 47,349 points.

    Major positive contributors in today’s session were namely SYS, MARI, LUCK, PAEL & PPL who cumulatively added 117 points to the benchmark index while POL, MEBL, BAHL, PSMC & PIOC dragged the KSE 100 index lower by 71 points.

    On the results front, PSMC announced a disappointing 2QCY21 EPS of Rs5.09 after which the stock succumbed to selling pressure.

    KOHC also announced its FY21 EPS of 17.41 as compared to a FY20 LPS (2.21).

    Volumes continued to remain depressed with the total traded volume and value clocking in at 377.19 million shares and Rs13.97 billion, respectively.

    The volume leader for today was TELE with 41.59 million shares traded during the session.

    KSE-100 index gains 229 points in mixed trading
  • KSE-100 index gains 229 points in mixed trading

    KSE-100 index gains 229 points in mixed trading

    KARACHI: The benchmark KSE-100 index increased by 229 points on Monday in mixed trading activities.

    The KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,365 points as against last Friday’s closing of 47,136 points, showing an increase of 229 points.

    Analysts at Arif Habib Limited said that market performed well after closing the rollover week.

    The ascent in international crude oil prices, due to hurricane IDA, helped propel Oil and Gas chain, particularly E&P stocks.

    Power sector saw HUBCO coming to the fore on the back of declaration of healthy dividends.

    Besides, cement, fertilizer, steel and technology stocks contributed positively to the Index. Banks, Autos and Textile sector saw continued profit booking.

    Volumes remained virtually the same at 382.6 million shares against 382.3 million shares the other day. Average traded value declined by 8 per cent to reach US$ 74.3 million as against US$ 80.1 million.

    Stocks that contributed significantly to the volumes include BYCO, GGL, WTL, YOUW and TELE, which formed 38 per cent of total volumes.

    Stocks that contributed positively to the index include HUBC (+75 points), ENGRO (+31 points), OGDC (+26 points), PPL (+22 points) and TRG (+17 points). Stocks that contributed negatively include MEBL (-49 points), HBL (-38 points), MCB (-14 points), MARI (-11 points) and UBL (-10 points).

    Stock market ends down by 227 points
  • Stock market ends down by 227 points

    Stock market ends down by 227 points

    KARACHI: The stock market remained under pressure on Friday and closed with a decline of 227 points.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,137 points as against 47,363 points.

    Analysts at Topline Securities said that the market largely remained under pressure during the trading session.

    Major contributions to the index came from Meezan Bank Limited (MEBL), Systems Limited (SYS) and Lucky Cement (LUCK), as they cumulatively contributed to 100 points.

    On the other hand Engro Corporation Limited (ENGRO), Habib Bank Limited (HBL), International Industries (INIL), Service Industries Limited (SRVI) and Oil and Gas Development Company (OGDC), as they weighed down on the index by 110 points.

    Traded volume and value for the day stood at 382 million shares and Rs.13.3 billion.

    World Call Telecom Limited (WTL) was today`s volume leader with around 31.6 million shares.

    Indus Motors Company Limited (INDU) posted its 4QFY21 result announcement in which its posted earnings per share of Rs56.1 along with a final cash dividend of Rs.36.5/share.

    Bank of Punjab (BOP) in the banking space posted 2Q2021 EPS of Rs1.4. Abbott Laboratories (Pakistan) Limited (ABOT) for its  2Q2021 posted EPS of Rs.18.79 along with an Interim cash dividend of Rs.20/share.

    Stocks end down by 273 points in range bound trading
  • Stocks end down by 273 points in range bound trading

    Stocks end down by 273 points in range bound trading

    KARACHI: The Pakistan stocks ended down by 273 points on Thursday as a range bound trading activity was observed during the day.

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  • KSE-100 index sheds 193 points on selling pressure

    KSE-100 index sheds 193 points on selling pressure

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 193 points on Wednesday on selling pressure witnessed during the day.

    The index closed at 47,636 points as against previous day’s closing of 47,829 points, showing a decline of 193 points.

    Analysts at Arif Habib Limited said that the market saw continued selling pressure which was partly due to ongoing roll-over activity and partly the profit booking in cement, fertilizer, technology and Oil & Gas chain.

    O&GMCs sector faced selling pressure in PSO, which persisted since yesterday when the company disclosed its financial results to the dismay of investors.

    Activity remained lackluster and the index lost a total of 211 points after recording a gain of 88 points. The index closed -193 points.

    Among engineering sector stocks, ISL declared a hefty dividend besides significant earnings, with the stock contributing to high traded value and an uptick. Among scrips, WTL topped the volumes with 38 million shares, followed by ANL (33.3 million) and GGL (22 million).

    Sectors contributing to the performance include Cement (-67 points), Misc (-35 points), Technology (-26 points), O&GMCs (-23 points) and E&P (-17 points).

    Volumes slightly declined from 394.9 million shares to 384.6 million shares (-3 per cent DoD). Average traded value also declined by 16 per cent to reach US$ 69.2 million as against US$ 82.2 million.

    Stocks that contributed significantly to the volumes include WTL, ANL, GGL, FNEL and KOSM, which formed 32 per cent of total volumes.

    Stocks that contributed positively to the index include MCB (+11 points), ISL (+7 points), FFC (+7 points), MTL (+5 points) and BAFL (+5 points). Stocks that contributed negatively include PSEL (-35 points), LUCK (-21 points), TRG (-15 points), DGKC (-15 points) and MLCF (-13 points).

    Stocks decline by 284 points on profit-taking
  • Stocks decline by 284 points on profit-taking

    Stocks decline by 284 points on profit-taking

    KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended down by 284 points on Tuesday. The stocks fell due to profit-taking observed during the day, analysts said.

    The index closed at 47,828 points as against the previous day’s closing of 48,112 points, showing a decline of 284 points.

    The analysts at  Arif Habib Limited said that after posting an increase in the past three consecutive sessions, the index saw profit booking across the board, with PSO being the prominent one due to lower than anticipated payout despite high earnings.

    Similarly, Cement, Steel and E&P sectors saw selling activity which kept the index under pressure.

    The technology sector showed mixed reactions with AVN, NETSOL, and SYS floating above LDCPs. Among scrips, WTL led the volumes with 43.6 million shares, followed by TELE (30.9 million) and GGL (25.5 million).

    Sectors contributing to the performance include Cement (-64 points), Fertilizer (-60 points), Banks (-60 points), O&GMCs (-52 points) and E&P (-36 points).

    Volumes slightly declined from 397.6 million shares to 394.9 million shares. Average traded value also declined by 8 per cent to reach US$ 82.8 million as against US$ 89.9 million.

    Stocks that contributed significantly to the volumes include WTL, TELE, GGL, BOP and ANL, which formed 36 per cent of total volumes.

    Stocks that contributed positively to the index include PSEL (+37 points), HUBC (+22 points), MTL (+7 points), ARPL (+6 points) and PIBTL (+5 points). Stocks that contributed negatively include ENGRO (-50 points), PSO (-41 points), MEBL (-33 points), PPL (-29 points) and LUCK (-28 points).

    KSE-100 index gains 512 points on positive trading
  • KSE-100 index gains 512 points on positive trading

    KSE-100 index gains 512 points on positive trading

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 512 points on Monday as market remained positive during the day.

    The index closed at 48,112 points as against previous closing on Friday at 47,600 points, showing an increase of 512 points.

    Analysts at Arif Habib Limited said that the market traded in the positive zone throughout the session, adding a total of 545 points during the session and closing near the session’s high with net 512 points.

    E&P sector, which was a laggard in the past year or so and particularly in the past month or so, performed well on the back of an increase of +3 per cent in international crude oil prices today.

    Besides, O&GMCs saw PSO sprinting due to its financial results, which were scheduled to be announced, but could not by sessions end. Besides, Technology stocks ramped up taking cue from Series B fund raising of Airlift that helped improve valuation multiples of listed entities in Tech space. Among scrips, HUMNL topped the volumes with 35.4 million shares, followed by BOP (22.2 million) and GGL (19.8 million).

    Sectors contributing to the performance include Banks (+167 points), E&P (+143 points), Fertilizer (+41 points), Misc (+36 points) and O&GMCs (+34 points).

    Volumes increased from 299.1 million shares to 396.2 million shares (+33 per cent DoD). Average traded value also increased by 13 per cent to reach US$ 89.9 million as against US$ 79.5 million.

    Stocks that contributed significantly to the volumes include HUMNL, BOP, GGL, TPLP and ANL, which formed 27 per cent of total volumes.

    Stocks that contributed positively to the index include MEBL (+94 points), PPL (+58 points), OGDC (+46 points), ENGRO (+42 points) and PSEL (+35 points). Stocks that contributed negatively include HUBC (-21 points), COLG (-10 points), MLCF (-9 points), EFERT (-7 points) and FCCL (-4 points).

    Weekly Review: market likely to stay positive