Tag: Pakistan Stock Exchange

KARACHI: The share market collapsed on Tuesday and witnessed seventh lower lock as investors were eying bailout package from the government.

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KARACHI: The share market may remain under pressure due to coronavirus spread and reports of lockdown in major cities of the country.

Analysts at Arif Habib Limited expect the equity bourse to remain under pressure on account of fast spreading Coronavirus and news regarding lockdown of major cities (Karachi and Lahore) which will keep the investors sentiment dull.

On the other hand, foreign selling in both, the equity market and debt securities, may keep the local currency under stress.

However, improvement witnessed on macroeconomic front, with the Current Account Deficit (CAD) shrinking by 71 percent YoY in first eight months of current fiscal year along with decline in international oil prices and lower inflation forecast, should bode well for overall economy in the medium term.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.7x (2020) compared to Asia Pac regional average of 10.2x while offering a dividend yield of around 9.0 percent versus around 3.1 percent offered by the region.

The KSE-100 index took a heavy battering with the market recording its largest weekly decline of 5,393 points (points wise largest in history and in percentage terms largest decline since December 2008).

Trading began on a negative note this week with manifestation of the unstoppable Coronavirus Pandemic in Pakistan and across the globe which triggered an investor stampede.

Whereas declining international oil prices also caused panic amongst market participants as witnessed in a rout in global equities.

Albeit, local investors anxiously looked forward to the announcement of the monetary policy this week whereby the State Bank cut its benchmark policy rate by a meagre 75 basis points against higher expectations (hence met with a disappointing reaction at the index) with other countries also jumping on the bandwagon of swift monetary action.

As a result, the benchmark KSE-100 index closed at 30,667 points, down by 15 percent WoW and witnessing trading halts on 4/5 days.

Contribution to the downside was led by i) Commercial Banks (1,484 points), ii) Cements (729 points), iii) Oil and Gas Exploration Companies (537 points), iv) Power Generation and Distribution (424 points), and v) Fertilizer (408 points). Scrip wise major losers were HBL (372 points), UBL (366 points), LUCK (361 points), HUBC (334 points), and MCB (264 points). Whereas, scrip wise major gainers were PAKT (9 points), and IBFL (2 points).

Foreigners offloaded stocks worth of USD 20 million compared to a net sell of USD 23 million last week.

Major selling was witnessed in Commercial Banks (USD 6.0 million) and Cements (USD 5.0 million).

On the local front, buying was reported by Insurance Companies (USD 23.5 million) followed by Individuals (USD 19.5 million).

That said, average daily volumes for the outgoing week were down by 10 percent to 239 million shares likewise value traded decreased by 33 percent to USD 55 million.

KARACHI: The equity market gained 538 points on Friday after investors have shown interest in banking and fertilizers scrips.

The Index closed at 30,667 points as against 30,130 points showing an increase of 538 points.

Analysts at Arif Habib Limited said that the market carried the momentum showed yesterday and opened with a large stride of +716 points having fetched 1.5 million shares.

Fertilizer, E&P and Banking sectors turned out to be major avenues where investors took interest. International crude prices also went up overnight and traded +3 percent that helped E&P scrips hitting upper circuit.

During the session the index oscillated between -226 points and +798 points, closing +538 points. Cement sector topped the volumes with 58.7 million shares followed by Banks (31.1 million) and Power (28.6 million).

Among scrips, KEL posted trading volumes of 23.4 million shares, followed by MLCF (16.6 million) and BOP (15 million).

Sectors contributing to the performance include E&P (+250 points), Banks (+203 points), Fertilizer (+138 points), Power (+52 points), Tobacco (+24 points), Cement (-46 points), Textile (-38 points).

Volumes declined from 308.3 million shares to 245.0 million shares (-21 percent DoD). Average traded value also declined by 16 percent to reach US$ 53.4 million as against US$ 63.7 million.

Stocks that contributed significantly to the volumes include KEL, MLCF, BOP, FCCL and UNITY, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+107 points), HBL (+106 points), OGDC (+83 points), PPL (+83 points) and POL (+52 points). Stocks that contributed negatively include DAWH (-30 points), SNGP (-21 points), NML (-19 points), MEBL (-18 points), and MLCF (-16 points).

KARACHI: The share market witnessed sixth lower lock in second week of bear run on Thursday. However, it trims losses later in the day by losing 286 points at the closing bell.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,130 points as against 30,416 points showing a decline of 286 points (-0.9 percent DoD).

Analysts at Arif Habib Limited said that the market witnessed the 6th halt today when the benchmark KSE100 index dropped 1,562 points, having traded 8.5 million shares.

Overall the index lost 1964 points during the session, reaching 28,452 points, and rebounded to erase all the losses and trading 100 points green for a while, only to resume selling later on.

The index closed 286 points down from LDCP. Buying activity was largely observed in Fertilizer, Banking and Oil & Gas sector. Cement sector also saw buying activity initially which brought the cement sector scrips from lower lock to tradable range, however, selling activity brought these stocks back to lower circuits.

Cement sector led the volumes with 48.8 million shares, followed by Banks (43.3 million) and Power (36.9 million). Among scrips, KEL topped the volumes with 22.1 million, followed by UNITY (19.3 million) and BOP (18.8 million).

Sectors contributing to the performance include Cement (-179 points), Power (-104 points), O&GMCs (-55 points), Textile (-53 points), Food (-48 points), Fertilizer (215 points), Banks (115 points).

Volumes increased from 186.6 million shares to 308.3 million shares (+65 percent DoD). Average traded value also increased by 90 percent to reach US$ 63.8 million as against US$ 33.5 million.

Stocks that contributed significantly to the volumes include KEL, UNITY, BOP, FCCL and MLCF, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include FFC (+91 points), ENGRO (+81 points), MCB (+66 points), BAHL (+52 points) and EFERT (+46 points). Stocks that contributed negatively include HUBC (-95 points), LUCK (-85 points), UBL (-65 points), NESTLE (-50 points), and DGKC (-26 points).

KARACHI: The equity market fell by over 2200 points or 6.7 percent on Wednesday as investors disappointed over lower than expected rate cut by the central bank.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,416 points as against 32,617 points showing a decline of 2201 points.

Analysts at Arif Habib Limited said that the market showed its disappointment to SBP’s Policy Rate cut in full force.

Market halt activated at -1683 points 10:17 PM with 57 million shares, an reopened at -1731 points with 66 million shares traded on KSE100.

Situation worsened over the time and majority of stocks hit lower circuits, causing the Index to plunge by a total of 2238 points during the session.

Market closed -2201 points. Although international markets traded positive yesterday but the Futures of respective indices failed to maintain the momentum, which also caused investors to stay cautious. Banking sector registered trading volume of 32.8 million shares, followed by Power (31 million) and Cement (22.7 million).

Among scrips, KEL topped the volumes with 25.5 million shares, followed by BOP (19.5 million) and HIFA (9.1 million).

Sectors contributing to the performance include Banks (-582 points), Fertilizer (-320 points), E&P (-292 points), Cement (-198 points) and Power (-164 points).

Volumes declined from 240.4 million shares to 186.7 million shares (-23 percent DoD). Average traded value also declined by 53 percent to reach US$ 33.5 million as against US$ 71.3 million.

Stocks that contributed significantly to the volumes include KEL, BOP, HIFA, MLCF and UNITY, which formed 36 percent of total volumes.

Stocks that contributed negatively include HBL (–145 points), ENGRO (-143 points), HUBC (-121 points), MCB (-105 points), and FFC (-101 points).

KARACHI: The local share market collapsed by another 1,068 points on Tuesday after following slippage in global financial markets on coronavirus spread.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,617 points as against 33,684 points showing a decline of 1068 points.

Analysts at Arif Habib Limited said that the market opened on a negative note today with 319 points and 1.4 million shares traded at the opening bell.

Yesterday’s negative close of world financial markets, especially US Markets caused damage to investor sentiment and positive opening of US Futures Indices and rebound of international crude oil prices failed to stem the selling pressure.

Banks and E&P stocks traded at and near lower circuit breakers. Cement sector traded positive in the early session, however, news of abrupt cancellation of PSL (Pakistan Super League) due to fear of spread of Corona virus reversed the gains in Cement sector.

Hope of a major rate cut by Central Bank seems to fade away with Indian Central Bank’s decision to maintain status quo, which also resulted in selling pressure.

Cement sector posted trading volumes of 63.3 million shares followed by Banks (45.9 million) and O&GMCs (20.8 million). Among scrips, BOP led the volumes with 24.6 million shares, followed by PIOC (20 million) and MLCF (15.5 million).

Sectors contributing to the performance include Banks (-531 points), E&P (-147 points), Cement (-85 points), O&GMCs (-65 points), Textile (-63 points) and Fertilizer (+23 points).

Volumes increased further from 215.4 million shares to 240.4 million shares (+12 percent DoD). Average traded value, on the contrary, increased by 40 percent to reach US$ 71.3 million as against US$ 50.9 million.

Stocks that contributed significantly to the volumes include BOP, PIOC, MLCF, HASCOL and UNITY, which formed 43 percent of total volumes.

Stocks that contributed positively include ENGRO (+13 points), FFC (+13 points), EPCL (+10 points), HMB (+7 points) and DGKC (+6 points). Stocks that contributed negatively include HBL (-156 points), UBL (106 points), MCB (-102 points), LUCK (-80 points) and PPL (-63 points).

KARACHI: The stock market ran into bear market on Monday after slipping another 2,376 points and witnessed forth lower lock since last week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,685 points as against 36,061 points showing a decline of 2,376 points.

Analysts at Arif Habib Limited said that the index marked the 4th halt since last week and since the circuit breakers moved up, the downside came with KSE-30 dropping 5 percent.

The 100-index sustained a loss of 1651 points at the time of halt, but continued the downtrend ultimately posting a total loss of 2442 points during the session and registering a small recovery by end of session showing a loss of 2376 points.

Market did not take any positive cue from the upcoming monetary policy, to be announced tomorrow, whereby street anticipates a cut of 50-100bps.

Fears of coronavirus spread have also caused significant damage to investor sentiment and generally investors were seen sidelined. Index heavy weights in Banking, Cement, Fertilizer, E&P sectors were observed at or near lower circuits.

Banking sector realized trading volumes of 56.4 million shares, followed by Cement (37.6 million) and Technology (14 million). Among scrips, BOP topped the volumes with 31.1 million shares, followed by MLCF (25.7 million) and FCCL (20.9 million).

Sectors contributing to the performance include Banks (-689 points), E&P (-326 points), Fertilizer (-281 points), Cement (-220 points), Power (-155 points).

Volumes declined from 290.5 million shares to 215.4 million shares (-26 percent DoD). Average traded value also declined by 42 percent to reach US$50.9 million to US$ 88.2 million.

Stocks that contributed significantly to the volumes include BOP, MLCF, UNITY, PPL and TRG, which formed 38 percent of total volumes.

Stocks that contributed negatively include HBL (-169 points), ENGRO (-140 points), HUBC (-126 points), MCB (-124 points), and UBL (-115 points).

KARACHI: The trading activities at Pakistan Stock Exchange (PSX) have been halted after indices fell below five percent.

Experts said that the detection of new coronavirus cases in the country negatively impacted the stock market.

While the expansion of this epidemic in the world especially the number of deaths increased substantially also discouraged the investors.

The KSE-100 index fell by 1651 points and was at 34,410 at the time of halt. The market shall resume after 45 minutes.

The trading has been halted during the past eight days following massive decline in indices.

KARACHI: The spread of coronavirus likely to haunt the stock market in the coming week as it had already dented massively.

Analysts at Arif Habib Limited said that with panic and uncertainty looming over the extension of Coronavirus, global markets are yet to ascertain long term impact.

“We do highlight that international markets have fallen significantly from their all-time high levels whereas the local index had already undergone major correction prior to spread of the virus.”

Announcement of Monetary Policy in the coming week remains a key event for the market, where we expect the SBP to cut the benchmark rate by 50-100 basis points, which can be a positive trigger for the bourse.

With that said, valuations across the board particularly in blue-chip scrips have reached attractive levels.

The market commenced on a negative note on Monday amid sharp decline in oil prices (Arab Light down by 27 percent DoD) after OPEC and Russia failed to agree upon oil production cut and Saudi Arabia engaged in an oil price war, consequentially, the market nose-dived by 2,302 points during the intraday.

The following day, the equity bourse displayed a swift rebound owed to expectations of a cut in interest rate, keeping in view decline in inflation.

However, the sentiment was short lived as Pak Rupee depreciated against USD by 3 percent WoW. Furthermore, the US President imposed a travel ban on most European countries which led to a meltdown in Global Markets given classification confirmation by WHO of Corona as a pandemic.

Following suit, panic was also witnessed at the KSE-100 Index (market halt enforced thrice during the week). The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) closed at 36,061 points, down 2,159 points WoW (-5.65 percent).

Sector-wise negative contributions came from i) Commercial Banks (706 points), ii) Oil & Gas Exploration Companies (650 points) and iii) Fertilizers (317 points).

Positive contributions came from Pharmaceuticals (35 points). Scrip-wise negative contributions were led by PPL (262 points), HBL (177 points), and ENGRO (167 points) while positive contributions were led by SEARL (30 points), and INDU (20 points).

Foreign selling continued this week clocking-in at USD 23.0 million compared to a net sell of USD 16.7 million last week.

Selling was witnessed in Cements (USD 8.2 million) and Exploration & Production (USD 6.2 million). On the domestic front, major buying was reported by Insurance Companies (USD 25.2 million) and Banks/DFIs (USD 6.0 million). Average Volumes settled at 264 million shares (up by 9 percent WoW) while average value traded clocked-in at USD 81 million (up by 25 percent WoW).

KARACHI: The stock market gained 104 points on Friday despite third market halt in the week was witnessed.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 36,060 points as against 35,957 points showing an increase of 104 points.

Analysts at Arif Habib Limited said that third consecutive market halt was met by one of the largest pull backs in recent times at the bourse.

Initially market opened on a negative note with -614 points and 0.86 million traded at opening bell.

Situation worsened and caused the halt at -1683 points by 9:25 AM and 25 million shares traded on KSE100.

Market re-opened at -1267 points, registering a recovery of 416 points and continued the path of recovery by the close of first session.

Second session opened -347 points, which showed a recovery of 1336 points, however, the index swung back into negative territory and yet again managed to post a recovery in MoC when the index posted gain.

Recovery was mainly seen in Oil & Gas, Banking and Cement sectors which have heavy weightage on Index.

Market recovery largely banked on improving sentiments in regional and global markets, whereby India and South Korea were seen banning short sale.

In addition, international crude price also posted an intra-day gain of around 5 percent that helped investors make a positive view on pertinent stocks.

Sectors contributing to the performance include E&P (+117 points), Pharma (+35 points), O&GMCs (+28 points), Chemical (+23 points), Banks (-63 points), Cement (-40 points), Tobacco (-37 points).

Volumes increased from 230.7 million shares to 290.1 million shares (+26 percent DoD). Average traded value also increased by 42 percent to reach US$ 87.8 million as against US$ 61.9 million.

Stocks that contributed significantly to the volumes include BOP, MLCF, FCCL, HASCOL DGKC, which formed 38 percent of total volumes.

Stocks that contributed positively include OGDC (+57 points), PSO (+32 points), POL (+26 points), HBL (+25 points) and ENGRO (+25 points).

Stocks that contributed negatively include LUCK (-51 points), UBL (-48 points), MCB (-42 points), PAKT (-37 points), and FFC (-16 points).