Tag: Pakistan Stock Exchange

KARACHI: The stock market likely to perform well on expectations of growth in various accounts, including commencement of tight monetary stance.

Analysts at Arif Habib Limited said that the market to perform well in 2021/2022 on account i) robust earnings growth forecast of cement, steel and allied sectors amid strong cyclical demand driven by historic high PSDP allocation and focus on Naya Pakistan Housing scheme, ii) expectation of an Auto and Refinery policy, iii) downwards sticky oil prices supporting the E&P sector, and iv) commencement of monetary tightening which should once again garner interest in commercial banks.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2021) compared to Asia Pac regional average of 16.5x while offering a dividend yield of ~6.9 per cent versus ~2.3 per cent offered by the region.

The market remained range bound this week with volatile trading on account of June-end closing and adjustment of portfolios. Moreover, as the debate on the Federal Budget moved towards final stages in the Parliament, some stiffness was witnessed in the political climate.

Albeit, the Budget was passed with a majority vote. The market also gained momentum on the first day of the new fiscal year, erasing previous losses. The index closed at 47,686 points, up by 0.2 per cent / 83 points WoW.

Sector-wise positive contributions came from i) Technology (105 points), ii) Pharma (68 points), iii) Food and Personal care (51 points), iv) Tobacco (22 points), and v) Insurance (14 points). Whereas, the sectors that contributed negatively include Commercial Banks (46 points), Power Generation & Distribution (44 points), Oil & Gas Exploration Companies (39 points), Oil & Gas Marketing (36 points) and Refinery (18 points). Scrip-wise positive contributors were TRG (88  points), AGP (54  points), LUCK (41  points), UNITY (37  points) and MEBL (25  points). Scrip-wise negative contributors were HBL (67  points), HUBC (65  points), UBL (38  points), OGDC (35  points) and HASCOL (34  points).

Foreign selling continued this week clocking-in at USD 8.4 million compared to a net sell of USD 7.9 million last week. Selling was witnessed in Commercial Banks (USD 3.2 million) and Other sectors (USD 1.4 million). On the domestic front, major buying was reported by Individuals (USD 13.6 million and Companies (USD 13.4 million). Average volumes arrived at 622 million shares (down by 10 per cent WoW) while average value traded settled at USD 107 million (down by 4 per cent WoW).

KARACHI: The stock market gained 445 points on Thursday as buying activities were observed on the first day of the fiscal year 2021/2022.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,801 points as against previous day’s closing of 47,356 points, showing an increase of 445 points.

Analysts at Arif Habib Limited said that the market performed well on the first day of FY22, adding a total of 487 points on the board and maintained the momentum by session’s end, closing +445 points.

Profit booking by institutions in the past couple of sessions in the wake of closing FY21 with decent returns, left the institutions with deployable funds that will likely route back to equities in the coming days.

Buying activity was observed across the board with Technology, Cement and Banking stocks contributing the most. Positive news trigger on economic front, including textile sector posting healthy export growth kept the momentum alive.

Among scrips, WTL topped the volumes with 198.7 million shares, followed by SILK (51.4 million) and TPL (48.2 million).

Sectors contributing to the performance include Cement (+102 points), E&P (+67 points), Textile (+41 points), Chemical (+34 points) and Fertilizer (+29 points).

Volumes increased from 549.6 million shares to 760.01 million shares (+38 per cent DoD). Average traded value also increased by 2 per cent to reach US$ 103 million as against US$ 101 million.

Stocks that contributed significantly to the volumes include WTL, SILK, TPL, HUMNL and PACE, which formed 48 per cent of total volumes.

Stocks that contributed positively to the index include LUCK (+65 points), PPL (+30 points), COLG (+22 points), NML (+21 points) and HBL (+19 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-11 points), TRG (-7 points), ABL (-6 points) and PKGS (-5 points).

The Pakistan Stock Exchange (PSX), country’s share market, concluded the fiscal year on a positive note as the benchmark KSE-100 index surged by 218 points amidst brisk trading on Wednesday.

KARACHI: The stock market gained 135 points on Tuesday owing to positive sentiments prevailed on budget approval.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,138 points as against previous day’s closing of 47,002 points, showing an increase of 135 points.

Analysts at Arif Habib Limited said that the market traded positive today with expectation of approval of Federal Budget 2021/2022 from the Parliament.

Since the beginning of the session, the index moved up and gained 300 points in few minutes. The index added a total of 506 points during the session, and closed the session +135 points. E&P sector saw heavy selling, realizing a decline in price below LDCPs.

Technology, Banks and Steel sectors contributed positively to the market today, especially TRG which saw active buying in response to the corporate briefing held yesterday. Among scrips, SILK led the table with 69.2 million shares, followed by HASCOL (66.2 million) and WTL (55.7 million).

Sectors contributing to the performance include E&P (-93 points), Chemical (-33 points), Power (-26 points), Technology (+89 points), Banks (+71 points) and Cement (+22 points).

Volumes declined from 655.1 million shares to 581 million shares (-12 per cent DoD). Average traded value also declined by 9 per cent to reach US$ 108.8 million as against US$ 119.5 million.

Stocks that contributed significantly to the volumes include SILK, HASCOL, WTL, TPL and JSCLR1, which formed 43 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+78 points), HBL (+30 points), ENGRO (+21 points), UNITY (+20 points) and MEBL (+18 points). Stocks that contributed negatively include PPL (-40 points), OGDC (-38 points), HUBC (-35 points), COLG (-29 points) and HASCOL (-13 points).

KARACHI: The stock market on Monday plunged by 601 points owing to financial year ending lead to profit booking. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,002 points as against last Friday’s close of 47,603 points, showing a decline of 601 points.

Analysts at Arif Habib Limited said that the market dipped 701 points during the session today and closed the session -601 points.

Financial year end closing for the institutional investors (Banks and Mutual Funds) prompted profit booking, especially in the aftermath of MSCI downgrade from Emerging Market to Frontier Market which can possibly result in selling from foreign corporates.

Selling pressure was witnessed across the board with emphasis on Cement, Banks, E&P sectors.

Among scrips, WTL topped the volumes with 97.7 million shares, followed by BYCO (52.4 million) and JSCLR1 (50.3 million).

Sectors contributing to the performance include Banks (-191 points), Cement (-106 points), O&GMCs (-53 points), E&P (-52 points) and Textile (-45 points).

Volumes declined from 761.4 million shares to 655.1 million shares (-14 per cent DoD). Average traded value also declined by 13 per cent to reach US$ 119.2 million as against US$ 137.5 million.

Stocks that contributed significantly to the volumes include WTL, BYCO, JSCLR1, KEL and TREET, which formed 39 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+22 points), ABOT (+10 points), THALL (+8 points), ABL (+8 points) and PKGS (+8 points). Stocks that contributed negatively include HBL (-69 points), LUCK (-51 points), UBL (-43 points), HUBC (-33 points) and MCB (-24 points).

KARACHI: The stock market likely to witness mixed trading activities during next week owing to grey list status of Pakistan and budget incentives.

Analysts at Arif Habib Limited said that the market to depict a mixed to positive trend in the upcoming week attributable to: FATF’s announcement to keep Pakistan on Grey List; and sectors that got major relief in the budget will remain in the limelight.

On the other hand, E&P scrips are expected to continue performing well due to higher international oil prices and government shelving divestment plan of OGDC and PPL and also deferring divestment of government shares in MARI.

However, a Current Account Deficit of USD 632 million for May’21 and uptick in CPI in the upcoming months, may dampen investors sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.8x (2021) compared to Asia Pac regional average of 16.5x while offering a dividend yield of ~6.9 per cent versus ~2.3 per cent offered by the region.

This week trading commenced on a negative note with the index shedding 226 points on Monday amid economic uncertainty given surge in international oil price along with deprecation of the rupee might which is expected to push up inflationary readings in upcoming months.

Pessimism at the bourse was further fueled by i) Unavailability of gas to non-export related industries, ii) Petrol shortage at many fuel stations in Pakistan as oil tankers go on a countrywide strike which might affect business of exporters, iii) proposal for reclassification of Pakistan from MSCI Emerging Market to Frontier Market, and iv) Uncertainty over the FATF plenary outcome led to profit taking by investors. The KSE-100 index closed at 47,603 points, down by 635 points or 1.32 per cent WoW.

Contribution to the downside was led by i) Cements (212 points), ii) Commercial Banks (178 points), iii) Oil and Gas Exploration Companies (58 points), iv) Pharmaceuticals (53 points), and v) Oil and Gas Marketing Companies (51 points). Scrip-wise major losers were LUCK (118 points), TRG (62 points), MCB (60 points), PSO (45 points), and HBL (44 points). Whereas, scrip-wise major gainers were SYS (67 points), FCEPL (43 points), HUBC (38 points), ANL (34 points) and MTL (21 points).

Foreigners offloaded stocks worth of USD 7.88 million compared to a net sell of USD 6.76 million last week. Major selling was witnessed in All other sectors (USD 7.42 million) and Commercial Banks (USD 1.94 million). On the local front, buying was reported by Individuals (USD 13.71 million) followed by Banks (USD 12.86 million). That said, average daily volumes and traded value for the outgoing week were down by 34 per cent and 35 per cent to 694 million shares and USD 112 million, respectively.

KARACHI: The stock market witnessed a decline of 359 points on Friday as across the board selling pressure observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,604 points as against previous day’s close of 47,963 points, showing a decline of 359 points.

Analysts at Arif Habib Limited said that the rollover week ended with market shedding 486 points during the session and closing the index -359 points.

Overnight intimation from MSCI regarding possible downgrade of Pakistan from MSCI Emerging Market Index to MSCI Frontier market Index, had investors perplexed on the upgrade of stocks in the recent MSCI review particularly LUCK and TRG, which were added to the Standard and Small index respectively.

In addition, Finance Minister’s final budget speech had positive surprise for auto stocks.

Selling pressure was observed across the board, with concentration towards Banks, E&P and Cement sector stocks. Among scrips, WTL topped the volumes with 142 million shares, followed by BYCO (53.7 million) and PACE (44.9 million).

Sectors contributing to the performance include Banks (-114 points), Cement (-101 points), E&P (-63 points), Pharma (-40 points) and Inv Banks (-28 points).

Volumes increased from 638.8 million shares to 761.3 million shares (+19 per cent DoD). Average traded value also increased by 32 per cent to reach US$ 138.0 million as against US$ 103.8 million.

Stocks that contributed significantly to the volumes include WTL, BYCO, PACE, TPL and KEL, which formed 39 per cent of total volumes.

Stocks that contributed positively to the index include PSEL (+29 points), FCEPL (+14 points), SYS (+12 points), ANL (+7 points) and HUBC (+7 points). Stocks that contributed negatively include LUCK (-66 points), HBL (-50 points), UBL (-36 points), PPL (-20 points) and DAWH (-19 points).

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a modest upswing on Thursday, with the benchmark KSE-100 index gaining 62 points in a day marked by narrow range trading.

KARACHI: The Pakistan stocks experienced a modest decline on Wednesday, closing down by 86 points amid a day characterized by range-bound trading activity.