Tag: Pakistan Stock Exchange

KARACHI: The share market fell by 127 points on Friday in volatile trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,301 points from previous day’s closing of 44,428 points, showing a decline of 127 points.

Analysts at Topline Securities said that volatility was observed during trading session as the index traded went up by 181 points and down by 230 points to close at 44,301 level.

Lack of investor interest was witnessed in the market as volume and traded value decline by 40 percent and 45 percent on DoD basis to 266 million shares and Rs.14.35billion, respectively.

Major contribution to the index came from COLG, LUCK, FCCL. ENGRO and HBL, as they cumulatively contributed 73 points to the index, whereas TRG, POL, DAWH, PAKT and SYS lost value to weigh down on the index by -115 points. TRG was today`s volume leader with 23 million shares.

KARACHI: The share market declined by 160 points on Thursday in a range bound trading activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,428 points as against previous day’s closing of 44,588 points, showing a decline of 160 points.

Analysts at Arif Habib Limited said that the market traded range bound today with an oscillation between -254 points and +290 points.

Federal cabinet’s decision not to import cotton yarn and sugar from India, added to the confusion amongst Investors, who warmly welcomed the hint of it yesterday.

On the other hand, leverage positions in tech and refinery stocks have continually caused selling pressure in the market, whereby declining prices of pertinent stocks made the concerned investors revisit the investment decision.

Selling pressure was evident in Cement, Steel, Banks, which brought the index down by the end of session. News of vaccine manufacturing by SEARL, helped the stock make a leap towards upper circuit.

Similarly, ENGRO hit upper circuit on the expectation of new investment in a polypropylene plant. Among volume leaders, BYCO topped the volumes with 30.3 million shares, followed by TRG (25.3 million) and GGL (17.9 million).

Sectors contributing to the performance include Technology (-121 points), Cement (-64 points), Banks (-42 points), Refinery (-40 points), O&GMCs (-32 points).

Volumes declined from 443.9 million shares to 313.5 million shares (-29 percent DoD). Average traded value also declined by 33 percent to reach US$ 113.7 million as against US$ 169 million.

Stocks that contributed significantly to the volumes include BYCO, TRG, GGL, PTC and UNITY, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+152 points), DAWH (+33 points), SEARL (+30 points), SRVI (+18 points) and HUBC (+16 points). Stocks that contributed negatively include TRG (-108 points), LUCK (-20 points), PSO (-19 points), ATRL (-18 points) and MEBL (-18 points).

KARACHI: The stock market gained 97 points on Wednesday amid positive sentiments on launch of Eurobonds by Pakistan.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,588 points as against previous day’s close of 44,491 points, showing an increase of 97 points.

Analysts at Arif Habib Limited said that Pakistan’s launch of Eurobond and raising funds from international market was warmly greeted by PSX, which saw an upside of 642 points during the session and ended 97 points.

E&P, Cement, O&GMCs and Steel sectors performed well whereas Refinery and Tech proved to be very volatile, where stocks hit lower circuit after trading at high rates during the session.

A hint towards opening up trade with India also boosted investors’ confidence, where among listed sectors, Cement is anticipated to be a key beneficiary from export of cement. Among scrips, BYCO topped the volumes with 73.2 million shares, followed by TRG (39 million) and PRL (31.1 million).

Sectors contributing to the performance include Fertilizer (+24 points), Cement (+24 points), E&P (+22 points), Banks (+19 points), Tech (-35 points), Textile (-17 points).

Volumes increased from 339.1 million shares to 443.9 million shares (+31 percent DoD). Average traded value also increased by 25 percent to reach US$ 169.7 million as against US$ 135.9 million.

Stocks that contributed significantly to the volumes include BYCO, TRG, PRL, UNITY and GGL, which formed 42 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+31 points), UBL (+28 points), POL (+20 points), SYS (+20 points) and SRVI (+17 points). Stocks that contributed negatively include TRG (-52 points), HBL (-30 points), COLG (-20 points), HUBC (-11 points) and FFC (-10 points).

KARACHI: The stock market increased by 59 points on Tuesday in mixed trading sessions during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,491 points as against previous day’s closing of 43,755 points, showing an increase of 59 points.

Analysts at Arif Habib Limited said that the market reacted passively to the partial changes made by the Government in Finance & Petroleum Ministries with Index oscillating between -232 points and +377 points, closing the session +178 points (unadjusted).

Last half an hour of closing saw brisk buying and rapid recovery although the session saw dull activity for good part of the session.

News reports indicated further changes in the Federal cabinet in offing, which will be announced later today and finalized by Thursday.

This kept Investors perturbed about the changes made in key ministries and impact thereof on policy measures taken in the past several months. UNITY rebounded well to trade near upper circuit by the end of session, whereas tech and refinery stocks also garnered support.

Among scrips, BYCO realized trading volume of 45.8 million shares, followed by TRG (35.2 million) and UNITY (30.8 million).

Sectors contributing to the performance include Banks (+58 points), Autos (+32 points), Cement (+20 points), Chemical (+14 points), E&P (-39 points), Power (-36 points) and Tobacco (-18 points).

Volumes declined from 523.8 million shares to 339 million shares (-35 percent DoD). Average traded value also declined by 12 percent to reach US$ 135.6 million as against US$ 153.6 million.

Stocks that contributed significantly to the volumes include UNITY, PRL, NETSOL, HUMNL and TELE, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include MCB (+57 points), FFC (+21 points), INDU (+11 points), FFBL (+11 points) and PAEL (+10 points). Stocks that contributed negatively include ENGRO (-39 points), HUBC (-32 points), MARI (-28 points), PAKT (-16 points) and UBL (-16 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday plunged by 1,090 points owing to alarming rise in coronavirus cases in third wave.

The index closed at 44,432 points from last Friday’s closing of 45,522 points, showing a decline of 1,090 points.

Analysts at Topline Securities said that rising COVID cases and a higher Weekly SPI resulted in low market depth as investors adopted a cautious approach while a rumor of Mutual Fund redemptions added to the selling pressure at the bourse.

The major decliners were namely TRG, LUCK, MCB, HUBC & HBL who cumulatively dragged the benchmark index lower by around 319 points.

On the volume front, daily traded volume and value clocked in at 522.5 million shares (down 1.24 percent DoD) and Rs23.47 billion (down 6.87 percent DoD) respectively.

The volume leader for today was BYCO with 80.25 million shares traded during the session.

KARACHI: The stock market likely to move positive during next week owing to strengthening of Pak Rupee against the dollar and stable external position.

However, third wave of COVID-19 is ongoing and smart lockdowns are being placed to counter it hence the element of uncertainty cannot be ignored, analysts at Arif Habib Limited said.

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 17.0x and while offering DY of around 7.0 percent versus 2.6 percent offered by the region.

The market commenced this week on a positive note. Amid expectation of supportive policies for refineries, the refinery sector remained in the limelight.

With inflows of foreign funds, the SBP reserves climbed up by USD 275 million WoW, PKR/USD parity settled at PKR 154.59 (which is the strongest parity since March 06, 2020).

Additionally, Current Account Deficit for the month of February 2021 witnessed 75 percent YoY/76 percent MoM decline.

Moreover, the IMF agreed to release USD 500 million to Pakistan. However, in order to comply with IMF conditions an ordinance for withdrawing corporate tax exemptions was signed by the President, which somewhat suppressed sentiment in the bourse.

Furthermore, recent surge in COVID-19 cases (4,368 new cases yesterday with infection ratio standing at 10.3 percent) sent alarm bells ringing. The market closed at 45,522 points, gaining 620 points (up by 1.4 percent) WoW.

Sector-wise positive contributions came from i) Technology & Communication (333 points), ii) Oil & Gas Exploration Companies (94 points), iii) Auto Assembler (71 points), iv) Refinery (62 points) and v) Chemical (50 points).

Whereas sectors that contributed negatively include i) Commercial Banks (46 points) and ii) Cement (39 points). Scrip-wise positive contributors were TRG (280 points), PPL (65 points), ATRL (56 points), OGDC (47 points) and ANL (44 points) while negative contributors included HBL (52 points), POL (28 points) and ENGRO (24 points).

Foreign selling this week clocking-in at USD 0.1 million compared to a net buy of USD 3.0 million last week. Selling was witnessed in Technology & Communication (USD 2.1 million) and Power Gen. (USD 1.2 million).

On the domestic front, major buying was reported by Broker Proprietary (USD 3.7 million and Mutual Funds (USD 1.7 million). Average volumes arrived at 463 million shares (down by 4 percent WoW) while average value traded settled at USD 159 million (up by 10 percent WoW).

KARACHI:  The stock market lost 204 points on Friday owing to withdrawal of tax exemption through a presidential ordinance.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,521 points as against previous day’s closing of 45,726 points, showing a decline of 204 points.

Analysts at Arif Habib Limited said that last day of the rollover week saw market shedding 289 points during the session and closing the index -204 points.

Confirmation of amendment to the Income tax ordinance to take effect of withdrawal of Rs. 140 billion tax exemptions had bearing on Steel, Cement, Fertilizer, O&GMCs whereas banking sector stocks also went down due to overall selling pressure.

Key subjects of roll-over NETSOL, TRG also ended on a negative note with the exception of ATRL, which traded positively throughout the session. Among scrips, BYCO topped the volumes with 83.1 million shares, followed by PRL (56.2 million) and PTC (39.5 million).

Sectors contributing to the performance include Banks (-93 points), Cement (-72 points, E&P (-46 points), O&GMCs (-15 points), Refinery (+26 points).

Volumes increased from 470.4 million shares to 529.2 million shares (+12 percent DoD). Average traded value, on the other hand, declined by 3 percent to reach US$ 162.9 million as against US$ 167 million.

Stocks that contributed significantly to the volumes include BYCO, PRL, PTC, UNITY and TRG, which formed 47 percent of total volumes.

Stocks that contributed positively to the index include ANL (+21 points), ATRL (+19 points), MEBL (+18 points), HMB (+15 points) and INDU (+12 points). Stocks that contributed negatively include HBL (-54 points), BAHL (-25 points), PSO (-24 points), UBL (-22 points) and LUCK (-22 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 182 points on Thursday owing to positive sentiments of investors after release of IMF fund for Pakistan.

The Index closed at 45,726 points as against previous day’s closing of 45,544 points, showing an increase of 182 points.

Analysts at Arif Habib Limited said that the market responded positively to IMF’s disbursement of 3rd tranche of US$ 500 million and added a total of 456 points during the session and ended the session +182 points.

Although, Banks, E&P, O&GMCs and Fertilizer stocks ended the session in red, it was mostly Tech, Refinery and Cement sectors that contributed positively to the Index.

Telecom sector had PTC as the leading stock which had bearing from sale of Dhabi Group’s stake in Pakistan Mobile Communication Limited (an unlisted company).

Power sector saw KAPCO performing on the expectation of release of funds related to circular debt. Similarly, Chemical sector saw active trades in EPCL, which performed well on the back of healthy product margins.

Among volume leaders, PTC topped the volumes with 61.3 million shares, followed by TRG (38.8 million) and BYCO (38.2 million).

Sectors contributing to the performance include Tech (+118 points), Cement (+30 points), Autos (+25 points), Textile (+15 points), Fertilizer (-27 points), E&P (-22 points) and O&GMCs (-17 points).

Volumes increased from 409.6 million shares to 470.4 million shares (+15 percent DoD). Average traded value moved 1 percent up to reach US$ 166.6 million as against US$ 165.2 million.

Stocks that contributed significantly to the volumes include PTC, TRG, BYCO, UNITY and HASCOL, which formed 40 percent of total volumes.

Stocks that contributed positively to the index include TRG (+107 points), ANL (+21 points), LUCK (+17 points), PAKT (+14 points) and KAPCO (+13 points). Stocks that contributed negatively include MEBL (-24 points), ENGRO (-20 points), HUBC (-16 points), PPL (-12 points) and FFC (-9 points).