Tag: Pakistan Stock Exchange

KARACHI: The stock market likely stay positive during next week as smart lockdown is officially ending from Monday August 10, 2020, analysts said.

Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With smart lockdown officially ending on Monday, investor sentiment is set to be positive, although this remains contingent upon containment of COVID-19 cases.

Furthermore, Pak Rupee is expected to remain stable against the USD given augmenting reserves. Moreover, with continuing result season, certain sectors and scrips are expected to stay under limelight.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2021) compared to Asia Pac regional average of 13.5x and while offering DY of ~6.2 percent versus ~2.7 percent offered by the region.

The market commenced on a positive note given further decline in COVID-19 cases post Eid ul Adha. However, bears took over after higher than expected inflation of 9.30 percent was reported.

Although this was short lived as the market rebounded the very next day amid release of cement offtake data for Jul’20, depicting a stunning jump of 41 percent YoY followed by decline in trade deficit (by 15 percent YoY in Jul’20) and surge in SBP’s foreign reserves (by USD 567 million on weekly basis).

Moreover, approval of key projects (ML-1 Railway upgradation worth PKR 11.44 trillion under CPEC by ECNEC along with 4 projects by CDWP worth PKR 16.1 billion) kept the momentum strong. The market closed at 40,030 points, up by 772 points (+2 percent) WoW.

Foreign buying this week clocking-in at USD 3.7 million compared to a net sell of USD 9.7 million last week. Buying was witnessed in Fertilizer (USD 2.2 million) and Cement (USD 2.0 million). On the domestic front, major selling was reported by Insurance Companies (USD 29.4 million and Mutual Funds (USD 11.9 million). Average volumes settled at 638 million shares (up by a massive 64 percent WoW) while average value traded clocked-in at USD 145 million (up by 43 percent WoW).

KARACHI: The share market of Pakistan Stock Exchange (PSX) experienced a wave of selling pressure on the final trading day of the week, with the benchmark KSE-100 index falling by 136 points. The market closed at 40,030 points, down from 40,166 points.

(more…)

KARACHI: The stock market fell by 294 points on Tuesday as the market witnessed selling pressure after touching 40,000 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,578 points from previous day’s closing of 39,872 points, showing decline of 294 points.

Analysts at Topline Securities said that the traditional KSE market volatility was seen at the bourse today, where at one point, the index gained to make an intraday high of 459 points.

However, succumbed to selling pressure as investors came in to book their profit above 40,000 index level.

KSE 100 index closed at 39,578 level (down by 0.7 percent) breaking its winning streak.

The index closed in red zone after closing in the green zone for six consecutive trading sessions.

Intraday rally was observed in banking sector, where higher than expected CPI number for the month of June 2020 and increase in yields of government paper in the secondary market garnered investor interest.

Major contribution to the index came from PSX, JLICL, UBL, AGP and DAWH, whereas on the other hand ATRL, TRG, SYS, EPCL and SEARL lost value to weigh down on the index.

Traded volume and value for the day stood at 594 million shares (up by 10 percent on DoD basis) and Rs.26.5 billion (up by 3 percent DoD basis) respectively.

TRG was today`s volume leader with around 45.6 million shares.   

KARACHI: The stock market gained 613 points on Monday amid mixed trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,872 points as against 39,258 points showing an increase of 613 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +131 points and added a total of 670 points on the board to almost touch 40K level. The index also realized highest value traded of Rs 26 billion, which was last observed in 2017.

While E&P stocks saw selling pressure, Cement and banking sectors took the lead and carried the momentum. Release of inflation data caused some selling pressure, however, the same improved prospects for banking sector stocks, which are still trading at relatively low level compared with listed manufacturing sector stocks.

Cement sector garnered 125.5 million shares in trading volumes, followed by Technology (51.8 million) and Engineering (45.5 million). Among scrips, MLCF topped the volumes with 34.9 million, followed by POWER (32.5 million) and TRG (29.9 million).

Sectors contributing to the performance include Banks (+169 points), Cement (+126 points), Fertilizer (+39 points), O&GMCs (+37 points) and Pharma (+34 points).

Volumes increased again from 368.7 million shares to 539.3 million shares (+46 percent DoD). Average trade value also increased by 51 percent to reach US$ 154.2 million as against US$ 102.3 million.

Stocks that contributed significantly to the volumes include MLCF< POWER, TRG, PAEL and KEL, which formed 27 percent of total volumes.

Stocks that contributed positively to the index include HBL (+83 points), LUCK (+54 points), TRG (+35 points), ENGRO (+29 points) and UBL (+25 points). Stocks that contributed negatively include MARI (-14 points), PPL (-13 points), POL (-6 points), OGDC (-5 points), and MEBL (-5 points).

KARACHI: The stock market gained 209 points on Wednesday as profit taking activity was seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,836 points as against 38,627 points showing an increase 209 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +154 points and added an overall sum of 497 points. Anticipated profit booking brought the Index down to +209 points by the end of session.

Banks, Steel, Chemical and Fertilizer sectors saw profit booking before last day of the trading week. Among E&P companies, PPL sustained selling pressure amid high volumes.

Power sector led the volumes with 93.7 million shares, followed by Cement (60.7 million) and Technology (60.2 million). Among scrips, PAEL topped the volumes with 26.2 million shares, followed by MLCF (26.1 million) and BOP (23.4 million).

Sectors contributing to the performance include Cement (+62 points), Power (+59 points), E&P (+49 points), O&GMCs (+25 points), Insurance (+23 points).

Volumes increased from 394.3 million shares to 508.3 million shares (+29 percent DoD). Average traded value also increased by 30 percent to reach US$ 126.3 million as against US$ 97.1 million.

Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 35 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+32 points), LUCK (+28 points), KEL (+19 points), PPL (+19 points) and POL (+15 points).

Stocks that contributed negatively include HBL (-35 points), FFC (-20 points), MEBL (-11 points), FFBL (-11 points), and PAKT (-9 points).

KARACHI: The stock market gained 406 points on Tuesday as investors optimistic about financial results to be announced by banks.

The benchmark KSE-100 index closed at 38,627 points as against 38,221 points showing an increase of 406 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +158. Banking sector remained in the limelight, which was further helped by Cement, Refinery, Textile and Chemicals.

Profit selling was largely observed in E&P and Fertilizer sectors, however, this did not affect the market sentiment. Two sessions are left prior to Eid over the weekend, however, investors look optimistic considering the ongoing results season, especially due to Banks.

UBL is scheduled to post results on August 5th. Banking sector led the volumes with 60.8 million shares, followed by Cement (59.6 million) and Technology (35.6 million). Among scrips, PAEL topped the volumes with 26.2 million, followed by MLCF (26.1 million) and BOP (23.4 million).

Sectors contributing to the performance include Banks (+173 points), Cement (+73 points), Technology (+29 points), Textile (+21 points) and Autos (+20 points).

Volumes increased from 288.1 million shares to 394.3 million shares (+37 percent DoD). Average traded value also increased by 22 percent to reach US$ 97.3 million as against US$ 79.7 million.

Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+44 points), MEBL (+42 points), BAHL (+31 points), TRG (+31 points) and MCB (+30 points). Stocks that contributed negatively include DAWH (-7 points), JLICL (-7 points), NESTLE (-6 points), ARPL (-4 points), and FFC (-3 points).

KARACHI: The stock market gained 614 points on Monday owing the decision of the central bank for not to hold regular meeting of monetary policy committee.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,221 points as against 37,608 points showing increase of 614 points.

Analysts at Arif Habib Limited said that following SBP’s decision to defer Monetary Policy for next 2 months, gave banking scrips the much needed impetus to rally.

Anticipation of further rate cut died with SBP’s decision and investors view this decision as a signal of interest rate bottoming out.

Banking sector scrips, especially HBL rallied and traded near upper circuit after posting significant earnings last Friday.

UBL is scheduled to post financial results in the first week of August, which gave another reason for the banks to perform.

Besides Banks, Cement sector rebounded after adjusting to selling pressure in the outgoing week.

Resultantly, Index posted gains of 684 points and closed the session +614 points. Technology sector led the volumes with 39.4 million shares, followed by Banks (39.1 million) and Cable (30.2 million).

Among scrips, PAEL topped the volumes with 28.9 million shares, followed by TRG (20 million) and PRL (18.4 million).

Sectors contributing to the performance include Banks (+283 points), Cement (+75 points), Technology (+47 points), E&P (+45 points) Fertilizer (+45 points).

Volumes increased from 266.5 million shares to 288.1 million shares (+8 percent DoD). Average traded value increased by 24 percent to reach US$ 79.5 million as against US$ 64 million.

Stocks that contributed significantly to the volumes include PAEL, TRG, PRL, MLCF and FFL, which formed 31 percent of total volumes.

Stocks that contributed positively to the index include HBL (+98 points), BAHL (+51 points), LUCK (+39 points), MEBL (+36 points) and TRG (+30 points). Stocks that contributed negatively include DAWH (-10 points), ATLH (-4 points), MUREB (-3 points), KAPCO (-2 points), and ICI (-2 points).

KARACHI: The stock market likely to maintain upward trend as many corporate entities set to declare better results.

Analysts at Arif Habib said that with commencement of the result season certain sectors / scrips may come under limelight in the upcoming week.

Although pre-Eid jitters cannot be ruled out amid profit-taking at current levels. However, funds continue to flow in the bourse and economic activity shows signs of revival.

Hence, our long term stance on the market remains positive.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2021) compared to Asia Pac regional average of 13.1x and while offering DY of ~6.7 percent versus ~2.7 percent offered by the region.

The outgoing session marks end of a fifth consecutive positive week at the KSE-100 index.

Although the rally lost stream mid-week amid profit taking and selling pressure from individuals, the bourse moved up 276 points WoW to close at 37,608points.

To recall, sentiments have been rejoiced by several rate cuts by the SBP (625bps in total) which have once again brought equities to the forefront as the preferred asset class, while improvement in the domestic COVID-19 recovery rate, end of lockdown as well as reinstatement of pre-corona market hours aided volumes and attracted investment in the market.

Sector-wise positive contributions came from i) Commercial Banks (253 points), ii) Power generation and distribution (76 points), iii) Automobile Assembler (31 points), iv) Textile composite (28 points), and v) Technology and communication (17 points).

Whereas negative contributions came from i) Cements (60 points), Oil & Gas Exploration Companies (38 points), and Chemical (19 points). Scrip-wise positive contributions were led by HBL (128 points), MCB (64 points), HUBC (58 points), BAHL (35 points), and MTL (31 points).

Foreign selling continued this week clocking-in at USD 9.3 million compared to a net sell of USD 27.4 million last week.

Selling was witnessed in Commercial Banks (USD 2.9 million) and E&P (USD 1.7 million). On the domestic front, major buying was reported by Companies (USD 7.3 million and Insurance Companies (USD 7.0 million).

Average volumes settled at 413 million shares (down by 3 percent WoW) while average value traded clocked-in at USD 97 million (down by 2 percent WoW).