Tag: Pakistan Stock Exchange

KARACHI: The stock market crashed on Thursday following deterioration in world stock markets after World Health Organization (WHO) declared coronavirus as global pandemic.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) failed to sustain 36,000 level and ended down by 1717 points to 35,956 points.

The benchmark index witnessed sharp decline on Monday this week.

Analysts said that the stock market was under massive pressure following significant dip in US markets and sharp decline in Asian markets.

Besides, world oil prices also came down by 4 percent. They said that the multiple factors had brought down the local bourses.

Earlier in the day the market was halted for 45 minutes when the KSE-30 index fell 4 percent. This was second halt in trading of PSX in this week. However, the market unable to recover after resumption.

The analysts said that the investors were cautious about the threat of coronavirus. The central banks of many countries had cut interest rates owing to expected decline in the world economy.

Further, the investors are also eying a sizeable cut in key policy rate by the State Bank of Pakistan (SBP) as the statement is scheduled to be announced on Mach 17, 2020.

KARACHI: The trading activities at Pakistan Stock Exchange (PSX) halted as KSE-30 index fell more than 4 percent in intraday on Thursday.

The benchmark KSE-100 index also witnessed 1324 points or 3.64 percent decline during intraday trading. The KSE-100 has come down and is trading at 36,348 points.

The PSX is also following the global stock market which witnessed sharp decline after the World Health Organization (WHO) declared coronavirus as pandemic.

The trading activities at the PSX has been stopped for the second time in this week.

The trading has been halted for 45 minutes and will resume at 3:00pm PST.

KARACHI: The equity market fell by 22 points on Wednesday after witnessed over 600 points gain earlier in the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,673 points as against 37,696 points showing a decline of 22 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today and gained 637 points during the session, only to see Saudi and UAE signaling crude production ramp-up in April.

That caused E&P sector sliding again, with PPL trading near yesterday’s lower circuit breaker.

Cement sector bore selling pressure due to profit booking, which caused index coming down and erasing all the gains, closing the session 22 points down. Cement sector topped the volume with 65.6M shares, followed by Banks (22.5 million) and O&GMCs (18.8 million). Among scrips, MLCF posted 17.6 million shares, followed by FCCL (15.9 million) and HASCOL (13.4 million).

Sectors contributing to the performance include Banks (+90 points), Pharma (+20 points), Fertilizer (-26 points), E&P (-25 points), O&GMCs (-19 points).

Volumes declined from 274.8 million shares to 217.6 million shares (-21 percent DoD). Average traded value also declined by 29 percent to reach US$ 74.7 million as against US$ 105.6 million.

Stocks that contributed significantly to the volumes include MLCF, FCCL, HASCOL, PPL and BOP, which formed 31 percent of total volumes.

Stocks that contributed positively include HBL (+27 points), UBL (+25 points), BAHL (+23 points), BAFL (+16 points) and SEARL (+13 points). Stocks that contributed negatively include PPL (-14 points), ENGRO (-11 points), FFC (-11 points), MLCF (-9 points), and LUCK (-9 points).

KARACHI: The stock market rebounded on Tuesday after massive losses a day earlier on world oil price fall and coronavirus fear.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,696 points as against 37,059 points showing an increase of 637 points.

Analysts at Arif Habib Limited said that the market rebounded today erasing most of the losses sustained yesterday.

Market opened on a positive note today with +145 points, however, dipped again and lost 145 points (intra-day).

Oil & gas stocks kept the selling pressure on, due to low oil prices that maintained a plateau of around U$34/bbl.

Interestingly, both OGDC and PPL, which were offered in huge quantities at lower lock yesterday got disposed off at and around today’s lower circuit breakers.

PSO turned out to be the head turner today with a positive opening, and closing the session at upper circuit.

Cyclicals, Cement and Steel sector stocks were on back burner in relative terms, although leading stocks managed to post decent volumes.

Cement sector posted volumes of 86.2 million shares, followed by O&GMCs (43.5 million) and Banks (28.8 million). Among scrips, MLCF realized 27.9 million shares, followed by PPL (23.6 million) and FCCL (16.1 million).

Sectors showing performance include E&P (-152 points), Banks (+353 points), Fertilizer (+112 points), O&GMCs (+93 points), Chemical (+39 points) and Pharma (+32 points).

Volumes declined from 307.9 million shares to 274 million shares (-11 percent DoD). Average traded value however, increased by 46 percent to reach US$ 106.7 million as against US$ 73.3 million.

Stocks that contributed significantly to the volumes include MLCF, PPL, FCCL, OGDC and KEL, which formed 36 percent of total volumes.

Stocks that contributed positively include HBL (+101 points), BAHL (+64 points), MCB (+60 points), PSO (+50 points) and ENGRO (+45 points).

Stocks that contributed negatively include PPL (-85 points), POL (-61 points), OGDC (-36 points), LUCK (-19 points), and HMB (-8 points).

KARACHI: The stock market made significant comeback after intraday crash on Monday and trimmed the decline 1161 points to close the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 37,059 points from last Friday’s closing of 38,220 points showing decline of 1161 points or 3.3 percent.

The market witnessed decline of 2300 points in intraday trading.

Analysts at Topline Securities said that KSE 100 index declined by 3.13 percent to close at 37,059 level, taking cue from international markets, where bears dominated following the deepest oil price cut by Saudi Arabia (sharpest decline since 1991) as OPEC failed to strike a deal with its allies regarding production cuts.

Market witnessed its first ever halt as KSE 30 index made an intraday decline of 1200 (down by -7.4 percent), where rule states that if KSE-30 Index continues to trade 4 percent above or below its opening index value for consecutive 5 minutes, trading in all securities shall be halted for 45 minutes.

E&P sector which declined by 7 percent in light of decline in oil prices was largely responsible for market halt, as the sector has a significant weight of 19 percent in KSE 30 index.

Secondly, the expectation of a rate cut gained further momentum consigning banks to the depths with several index heavy banks (HBL,UBL, BAHL, BAFL, MEBL) hitting lower locks.

As a result the 100 index was down 2,302 points at its lowest ebb.

Some recovery was witnessed in the market on the back of cyclicals, as investor’s started cherry picking especially in the cement sector given the high leverage status.

Trading volume and value for the day stood at 308mn shares and Rs.11.4 billion respectively. FCCL was today`s volume leader with 30.7 million shares.

KARACHI: Trading at the stock market has been halted after witnessing lower lock on Monday morning owing to sharp decline in world oil price.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 2,107 points or 5.83 percent at the opening on Monday morning.

The market was trading at 36,113 points when it was suspended on lower lock. The market was closed at 38,220 on last Friday.

Analysts said that the sharp decline in world oil prices was behind stock market crash.

KARACHI: The fears over Coronavirus and its impact on the economy, as well as the continuation in pressure on global equities is likely to keep market performance subdued.

That said, valuations across the board particularly in blue-chips have reached attractive levels, analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2020) compared to Asia Pac regional average of 11.6x and while offering DY of ~7.2 percent versus ~2.8 percent offered by the region.

A significantly lower inflationary reading for February 2020 (12.4 percent vs 14.6 percent in Jan’20) provided respite to investors as expectations of a rate cut in the MPS this month set in, creating positive sentiment in cyclical sectors (Cement sector attracted buying).

However, with the total number of Coronavirus cases in Pakistan rising to 6, and with the continuous rise in cases outside China (close to 20,000 now), the trickle-down effect of a global-sell off in equities did create pressure in the index. However, the KSE-100 Index closed at 38,220 points, up 236 points WoW (+0.62 percent)

Sector-wise negative contributions came from i) Banks (388pts) led by expectations of a rate cut this month, ii) Power generation & Distribution (49pts) and iii) Miscellaneous (10pts).

Positive contributions came from Cement primarily (329pts). Scrip-wise negative contributions were led by HBL (119pts), UBL (71pts), and BAFL (54pts) while positive contributions were led by LUCK (113pts), and DGKC (51pts).

Foreign selling continued this week clocking-in at USD 16.7 million compared to a net sell of USD 22.5 million last week.

Selling was witnessed in Cement (USD 5.1 million) and E&P (USD 3.5 million). On the domestic front, major buying was reported by Mutual Funds (USD 15.4 million) and Companies (USD 11.1 million).

Average Volumes remained stable at 243 million shares while average value traded clocked-in at USD 65 million (up by 35 percent WoW).

KARACHI: The stock market plunged by 1162 points on Friday owing to massive selling activities during the last trading day of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,220 as against 39,382 points showing the decline of 1162 points.

Analysts at Topline Securities said that spillover of the selloff in the global markets was observed at the local bourse as the index declined by 3 percent to close at 38,220 level.

Global markets declined as fear of coronavirus resurfaced after multiple new cases of the lethal virus were reported in leading world economies.

OPEC’s vow to cut down oil production by 1.5 million barrels a day failed to give support to the oil prices, as concerns over global demand and ambiguity on whether Russia will participate in production cut weighed down on the price.

As a result E&P sector lost -4.56 percent during the trading session. Banking sector too closed down -3.67 percent as investor’s factored in potential decline in policy rate in upcoming Monetary Policy statement. MLCF was today`s volume leader with 27 million shares.

KARACHI: The stock market gained 476 points on Thursday owing to positive sentiments prevailed after decline in cut-off yield of government papers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,382 points as against 38,906 points showing an increase of 476 points.

Analysts at Topline Securities said that in line with the international and regional markets, KSE 100 index marked decent comeback, as the index gained +1.2 percent to close at 39,382 level.

Decline in PIB yields in the range of 15-46 basis points in yesterday’s auction also provided stimulus to the market.

Despite positivity in the market, banking sector declined by 1 percent as speculations over the decline in policy rate in upcoming monetary policy committee meeting are doing rounds.

Investor confidence improved as traded volume and value went up by 82 percent and 80 percent respectively compared to last day. FCCL was today`s volume leader with 30 million shares.