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Tag: Pakistan Stock Exchange

  • Stock market sheds 212 points on selling pressure

    Stock market sheds 212 points on selling pressure

    KARACHI: The stock market fell by 212 points on Friday as selling pressure observed during the trading.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,243 points as against 40,455 points showing a decline of 212 points.

    Analysts at Arif Habib Limited said that similar to what was witnessed yesterday. The market opened on a positive note with +139 points and closed the session in red, with -180 points.

    During the sessions, the index lost 361 points in total but last hour of trading saw some recovery with PSO showing some life, as the news related to Sukuk II broke.

    Overall, selling activity was observed across the board barring few scrips in Banking sector. LOTCHEM announced relatively better results, however, concerns over product margins caused Investors to sell positions.

    Despite having two sessions the trading volumes declined significantly over the day. Transport Sector led the volumes on the bourse with 19 million shares, followed by Chemical (15.3 million) and Technology (13.4 million).

    Among scrips, PIBTL realized 17.5 million shares, followed by LOTCHEM (13.1 million) and HASCOL (9.1 million).

    Sectors contributing to the performance include E&P (-49 points), Tobacco (-38 points), Inv Banks (-31 points), O&GMCs (-28 points), Fertilizer (-23 points) and Banks (+32 points).

    Volumes declined from 197.6 million shares to 117.5 million shares (-41 percent DoD). Average traded value declined by 47 percent to reach US$ 24.5 million as against US$ 46 million.

    Stocks that contributed significantly to the volumes include PIBTL, LOTCHEM, HASCOL, AVN and UNITY, which formed 48 percent of total volumes.

    Stocks that contributed positively include HBL (+48 points), MCB (+24 points), MEBL (+14 points), IGIHL (+9 points) and NATF (+4 points). Stocks that contributed negatively include PAKT (-38 points), DAWH (-30 points), POL (-20 points), ENGRO (-19 points), and OGDC (-14 points).

  • Stock market ends down by 76 points on profit taking

    Stock market ends down by 76 points on profit taking

    KARACHI: The stock market fell by 76 points on Thursday owing to profit taking after the market witnessed massive recovery during past two days.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,455 points as against 40,531 points showing a decline of 76 points.

    Analysts at Topline Securities said that the market opened on a positive note on the back of media reports that Pakistan and the IMF have concluded the staff level meeting in which they agreed on not having a mini-budget or reduction in the tax collection target. Alternatively, privatization proceeds are expected to fill the gap.

    Index gained to make an intraday high of 256 points but lost momentum; trading sideways for most part of the day, with the index closing at 40,455 level (down 0.19 percent).

    Traded volume increased by 9 percent on DoD basis to 197 million shares, whereas traded value decreased by 5 percent on DoD basis to Rs.7.1 billion. UNITY was today`s volume leader with 22.3 million shares.

    DGKC announced its 2QFY20 result in which it posted EPS of Rs.1.14 on a consolidated basis. Earnings were considerably higher than expectation on account of higher than expected sales and margin for the quarter, as a result the scrip closed 4.5 percent up.

    AKBL and FABL announced their 4Q2020 results in which they posted EPS of Rs.2.1 and Rs.1.06 on a consolidated basis respectively; AKBL also announced a final cash dividend of Rs.1.5/share.

  • Stock market gains 817 points on reports of downward revision in tax target

    Stock market gains 817 points on reports of downward revision in tax target

    KARACHI: The stock market continued to make recovery on Wednesday and gained 817 points on Wednesday owing to reports of IMF affirmation to revise tax collection target downwards.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,531 points as against 39,714 points showing a gain of 817 points.

    Analysts at Topline Securities said that the market continued its momentum as the index increased by 2 percent during the course of the day to close at 40,531-level.

    This rally in market was largely attributed to news of ongoing negotiation between Federal Board of Revenue (FBR) and International Monetary Fund (IMF) to revise down revenue target.

    Earlier news flows suggested that IMF had agreed to lower revenue collection target to around Rs4.9 trillion (against a previous target of Rs5.2 trillion). The FBR has proposed the target of Rs4.7 trillion, the analysts said.

    Traded volume and value increased by 12 percent and 25 percent on DoD basis to 180 million shares and Rs.7.5 billion respectively.

    HASCOL was the volume leader for the second consecutive day, as 16mn shares of the OMC changed hands.

    MEBL declared its 4Q2020 result announcement in which it posted consolidated EPS of Rs.3.68, along with a final cash dividend of Rs.2/share.

    This result announcement was in line with expectation. CHCC in cement sector declared its 2QFY20 result announcement in which it posted LPS of Rs.1.14, this result announcement was better than the street estimate.

    Following the result announcement investor interest was witnessed in the cement company, closing 3.30 percent higher.

  • Stock market recovers 418 points

    Stock market recovers 418 points

    KARACHI: The stock market gained 418 points on Tuesday as market made recovery of past days losses.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,714 points as against 39,296 points showing a make of 418 points.

    Analysts at Topline Securities said that the market opened on a positive note in line with regional and international markets, but lost momentum and traded sideways for most part of the day.

    However, in eleventh hour aggressive buying was observed by investors, as index gained to close at 39,714 level (up by 1.05 percent).

    Late buying was witnessed in the cement sector, as MLCF and PIOC from the sector gained to close on their respective upper circuits.

    Investor participation continue to be limited, as traded volume and value for the day stood at 161 million shares and Rs.6 billion respectively.

    HASCOL which was today`s volume leader with 12.8 million shares gained to close on its upper circuit.

  • Stock market plunges by 847 pts on political uncertainty

    Stock market plunges by 847 pts on political uncertainty

    KARACHI: The stock market plunged by 847 points on Monday owing to political uncertainty and high inflation numbers.

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  • NCCPL directs verification of stock investors through biometric

    NCCPL directs verification of stock investors through biometric

    KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has issued guidelines to register / verify all investors of stock market through biometric system.

    The NCCPL on Monday issued communication to Pakistan Stock Exchange (PSX) to direct all authorized intermediaries (AI) and clearing members to register existing customers in Centralized Know Your Customer (CKO).

    The NCCPL said that in pursuance of provisions stipulated under clause 9.1 (x) of CKO Regulations 2017 and NCCPL Regulations clause 5.11, Authorized Intermediaries (AI) are required to register their existing Customers, in the KYC Database to obtain Unique KYC Number (UKN) and tagging of such UKNs with the relevant Authorized Intermediary within the time period notified by the CKO.

    In view of above, all Authorized Intermediaries are hereby notified to register their existing Customers (i.e existing customers registered through NCSS UIN database before June 17, 2019) in the KYC Database and obtain UKN latest by May 31 2020.

    Further, Clearing Members still not yet admitted as AI shall be required to get them registered as AI and also required to register their customers in CKO by May 31, 2020.

    For the purpose of facilitating the Authorized Intermediaries, step wise key elements of the existing Customer registration process under CKO have been briefly explained below;

    1. AI shall be required to carry out Biometric Verification of the Customer (Applicable on individual customer only).

    2. AI is required to submit online KYC form of the existing customer via KYC Information System. Moreover, hard copy of KYC Form as prescribed under Annexure II, III and IV of the CKO Regulations, 2017 in signed form shall be required for all Types of Customers.

    3. In case of joint account holder(s), the AI shall be required to carry out Biometric Verification and proceed with KYC Application Form for each account holder separately.

    4. After submission of KYC Application Form electronically in KIS, AI will be required to submit hard copy of original KYC Application Form and Supporting Documents to CKO within 5 working days as per existing practice. The supporting documents may also be submitted through the upload functionality made available in the KIS.

    5. CKO will initiate necessary processing and complete its verification within 10 working days from the date of receipt of KYC Application Form along with all the required supporting documents.

    6. Upon such verification, CKO will approve KYC Application Form in KIS and Unique KYC Number (UKN) will automatically be generated for such Customer in KIS.

    7. After issuance of UKN, CKO will obtain confirmation from corporate Customer, foreign individuals and foreign corporate Customers for the issuance of UKN within 15 working days in accordance with the Regulations.

    8. In case of any discrepancy found in KYC form, AI will be required to remove it within 10 working days.

    9. Customers registered with multiple AIs will be required to complete their KYC process with all AIs one by one. If their KYC process is not completed with the AI through whom the process was first initiated, such customers shall not be allowed to initiate their KYC process with the other AIs.

    The NCCPL warned that failure to comply the above mentioned clause within stipulated time shall lead to necessary action in accordance with clause 9.1 (v) of CKO Regulations, 2017 and clause 5.11 of NCCPL Regulations whereby UIN tagging of the Customer with such Authorized Intermediary/Clearing Member shall be blocked and trading through such client code shall be restricted.

    However, pending transactions of such customers will be settled through respective Securities Broker in NCSS. Moreover, squaring-up of open positions in all Markets including Leveraged Markets and selling of Securities held in the sub-account(s) will be allowed.

    For complete details please refer clause 5.11 of NCCPL Regulations and clause 9.1 of CKO Regulations, 2017.

    For any further queries or concerns, please feel free to contact the Customer Support Services of your respective locations.

  • Market to remain in red on rate cut pessimism

    Market to remain in red on rate cut pessimism

    KARACHI: The equity market likely to stay in red due to pessimism on high inflation, which created impressions the rate may not be cut in near future.

    Analysts at Arif Habib Limited forecast that the market to remain in the red following pessimism created from high inflation readings which have led to apprehensions over the rate cut which may not materialize soon.

    Moreover, shortfall in tax revenue targets (PKR 750bn shortfall expected for FY20) have added to concerns over the fiscal deficit recovery as well as possibility of more tax revenue measures.

    The KSE-100 index is currently trading at a PER of 7.0x (2020) compared to Asia Pac regional average of 12.2x and while offering DY of around 6.8 percent versus around 2.8 percent offered by the region.

    Correction phase seems to have set in, with the benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) trading in the red another week. Aggravated inflationary pressure (14.6 percent YoY for Jan’20 – 10-Yr high) and turmoil in global markets following the outbreak of the Corona Virus have been the primary reasons behind the continuation of the selling spree in the local bourse.

    Further stress was created in the market from the rise in bond yields following the latest PIB auction in which the 3-Yr Bond cut-off yield increased by 30 bps to 12.05 percent, 5-Yr Bond yield increased by 21 bps to settle at 11.4 percent and the 10-Yr bond yield increased by 10 bps to 11 percent.

    The KSE-100 Index closed at 40,144 points (down 1,487 points WoW).

    Sector-wise negative contributions came from i) Oil & Gas Exploration Companies (-376ts), ii) Commercial Banks (-241 points), iii) Oil & Gas Marketing Companies (-150 points), iv) Fertilizer (-140 points), and v) Cement (-125 points). Scrip-wise negative contributions were led by PPL (-158 points), OGDC (-125 points), HBL (-104 points), PSO (-74 points) and DAWH (-57 points).

    Foreign selling this week clocked-in at USD 14.2 million compared to a net buy of USD 8.0 million last week. Selling was witnessed in Cement (USD 7.0 million) and Exploration & Production (USD 5.1 million).

    On the domestic front, major buying was reported by Insurance Companies (USD 13.7 million) and Individuals (USD 7.7 million). Average Volumes settled at 168 million shares (down by 11 percent WoW) while average value traded clocked-in at USD 45 million (down by 1 percent WoW).

  • Stock market face decline of 581 pts on selling pressure

    Stock market face decline of 581 pts on selling pressure

    KARACHI: The stock market witnessed decline of 581 points on Friday owing to heavy selling during the second half of trading day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,144 points as against 40,724 points showing a decline of 581 points.

    Analysts at Arif Habib Limited said that after opening on a positive note and gaining 145 points in the first session, the market saw heavy sell-off that aggravated in the second session losing 678 points during the session and closing -581 points.

    Bond yields for 3Y and 5Y were also observed to be trading at higher yields that caused concern amongst investors due to higher inflation and delay in possible rate cut.

    Selling activity was largely seen across the board amidst low volumes for better part of the day, but second session saw volumes picking up as prices declined steeply.

    Cement sector led the volumes table with 43.3 million shares, followed by Chemical (28.1 million) and Banks (26 million). Among scrips, MLCF realized trading volumes of 21.5 million, followed by LOTCHEM (17.4 million) and UNITY (14.3 million).

    Sectors contributing to the performance include Banks (-132 points), O&GMCs (-71 points), E&P (-65 points), Cement (-65 points) and Power (-42 points).

    Volumes increased from 127.9 million shares to 193.5 million shares (+51 percent DoD). Average traded value also increased by 16 percent to reach US$ 44 million as against US$ 38 million.

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

    Stocks that contributed positively include EFUG (+9 points), FFC (+8 points), SCBPL (+4 points), BAHL (+3 points) and NATF (+2 points). Stocks that contributed negatively include HBL (-43 points), PSO (-41 points), HUBC (-30 points), DAWH (-27 points), and BAFL (-25 points).

  • Equity market ends down by 160 pts on selling pressure

    Equity market ends down by 160 pts on selling pressure

    KARACHI: The equity market fell by 160 points on Thursday owing to selling pressure was seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,724 points as against 40,884 points showing a decline of 160 points.

    Analysts at Arif Habib Limited said that the market opened on a positive note and went up by 278 points during the session, which was mainly contributed by Oil and Gas sector scrips, E&P and OMCs.

    International crude prices prompted investors to build positions in oil and gas chain, however, selling pressure brought prices down and index moved downwards by 200 points.

    Chemical sector, on the other hand, performed well on the bourse, with LOTCHEM hitting upper circuit earlier in the session (on the back of better product margins) and maintained that position throughout.

    Similarly, EPCL, DOL and other chemical sector stocks gained traction from renewed interest by investors. Chemical sector led the volumes table with 18.5 million shares followed by Banks (17.8 million) and Cement (17 million).

    Among scrips, HASCOL led the volumes with 11.2 million, followed by LOTCHEM (8.9 million) and BOP (8.3 million).

    Sectors contributing to the performance include Power (-65 points), E&P (-42 points), O&GMCs (-40 points) and Inv Banks (-13 points) and Cement (-6 points).

    Volumes declined from 146.2 million shares to 127.8 million shares (-13 percent DoD). Average traded value also declined by 4 percent to reach US$ 38.0 million as against US$ 39.6 million.

    Stocks that contributed significantly to the volumes include HASCOL, LOTCHEM, BOP, UNITY and MLCF, which formed 32 percent of total volumes.

    Stocks that contributed positively include HBL (+43 points), BAFL (+16 points), POL (+14 points), PAKT (+11 points) and SYS (+11 points). Stocks that contributed negatively include HUBC (-61 points), MCB (-38 points), OGDC (-30 points), PPL (-24 points), and PSO (-22 points).

  • Stock market stages recovery of 475 points

    Stock market stages recovery of 475 points

    KARACHI: The stock market made recovery of 475 points on Tuesday as stocks of banking sector registered gain during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,884 points as against 40,409 points showing an increase of 475 points.

    Analysts said that the market staged a recovery after a major draw down of 1222 points yesterday and largely remained positive throughout the session barring -60 points earlier in the session.

    Overall, the Index moved up by 544 points and closed the session at +475 points.

    Banking sector played an important role in market recovery MCB’s result announcement further helped the other banking sector stocks to post gains.

    Resultantly, Banking sector posted trading volumes of 27.1 million shares, followed by Cement (21.7 million) and O&GMCs (19.9 million).

    Among scrips, BOP topped the charts with 16.4 million shares, followed by HASCOL (15.7 million) and UNITY (8.3 million).

    Sectors contributing to the performance include Banks (+217 points), Power (+83 points), Fertilizer (+62 points), Cement (+44 points) and O&GMCs (+33 points).

    Volumes declined from 203.3 million shares to 146.1 million shares (-28 percent DOD). Average traded value also declined by 33 percent to reach US$ 39.7 million as against US$ 59.2 million.

    Stocks that contributed significantly to the volumes include BOP, HASCOL, UNITY, KEL and DGKC, which formed 38 percent of total volumes.

    Stocks that contributed positively include MCB (+84 points), HUBC (+67 points), ENGRO (+47 points), UBL (+44 points) and BAHL (+30 points). Stocks that contributed negatively include PAKT (-27 points), PPL (-17 points), HBL (-8 points), JLICL (-5 points), and INDU (-3 points).