Tag: Pakistan Stock Exchange

KARACHI: The stock market gained 153 points on Tuesday amid profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,564 points as against 38,412 points showing an increase of +153 points.

Analysts at Arif Habib Limited said that the market moved up and down during the session.

Initially the index gained +500 points but erased all the gains on profit booking, which took the index -18 points.

Activity picked pace again with index gaining again around +350 points. MoC resulted in selling pressure again, closing the index +153 points.

Key stocks that sustained selling pressure included DGKC, MLCF, FCCL and largely Steel sector, where MUGHAL saw trading at lower circuit.

Among Fertilizer sector, ENGRO made a recent high close to Rs. 345, but faced selling pressure to bring the price to Rs. 338.

Trading volumes registered at 385 million shares, out of which Cement Sector led the table with 53.2 million shares, followed by Banks (40.1 million) and Power (38.5 million).

Among scrips, KEL realized volumes of 27.5 million, followed by BOP (25 million) and DSL (22.3 million).

Sectors contributing to the performance include Power (+103 points), O&GMCs (+63 points), Inv Banks (+37 points), Pharma (+28 points), Tobacco (-34 points) Banks (-31 points) and Fertilizer (-16 points).

Volumes posted a decline from 466.1 million shares to 384.8 million shares (-17 percent DoD). Average trading value also declined by 9 percent to reach US$ 90.4 million as against US$ 99.8 million.

Stocks that contributed significantly to the volumes include KEL, BOP, DSL, SNGP and PAEL, which formed 27 percent of total volumes.

Stocks that contributed positively include HUBC (+94 points), PSO (+33 points), DAWH (+27 points), SNGP (+23 points) and FFC (+14 points).

Stocks that contributed negatively include PAKT (-34 points), ENGRO (-27 points), UBL (-24 points), BAHL (-17 points), and POL (-11 points).

The stock market witnessed a robust rally on Monday as the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) surged by 828 points, closing at 38,412 points, up from the previous close of 37,584 points.

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KARACHI: The stock market to maintain upsurge in next week owing to foreign investors’ participation in local bond and equity markets.

Analysts at Arif Habib Limited said that although the market may witness a temporary spell of consolidation, we expect the index to continue its upsurge going forward led by improvement in the macro-economic landscape.

Moreover, augmented participation by foreign and local investors (courtesy improved volumes) in the debt and equity space has also kept the sentiment upbeat. We advise market participants to cherry pick blue chip scrips and keep their view long.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.4x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~8.5 percent versus ~2.6 percent offered by the region.

Foreign investment in government backed treasury bills at USD 722 million since the beginning of FY20, attributable to waning concerns on the economic front has effectively supported the slight growth in FX reserves of the SBP (up by 0.5 percent WoW to USD 8,397 million as at 14th November 2019) and consequentially, kept the exchange rate parity stable.

Meanwhile the opposition party – JUIF – has called-off the sit-in in the capital, shielding the political climate from heating up.

This translated to positivity at the domestic equity bourse with the benchmark KSE-100 index closing at 37,584 points this week, generating a return of 4.5 percent WoW (1,606 points).

Sector-wise Positive contributions came from i) Commercial Banks (430 points), ii) Power Generation & Distribution (203 points), iii) Cement (133 points), iv) E&P (127 points), and OMCs (101 points) while negative contributions were led by i) Tobacco (33 points).

Scrip-wise positive contributions were led by HUBC (156 points), HBL (103 points), BAHL (93 points), ENGRO (56 points) and TRG (55 points).

Foreign buying was witnessed this week clocking-in at USD 4.2 million compared to a net buy of USD 4.5 million last week.

Buying was witnessed in fertilizer (USD 5.1 million) and Commercial Banks (USD 3.8 million). On the domestic front, major selling was reported by Banks / DFIs (USD 18.8 million) and Insurance Companies (USD 9.6 million).

Average Volumes settled at 311 million shares (up by 21 percent WoW) while average value traded clocked-in at USD 64 million (up by 17 percent WoW).

The Pakistan stock market witnessed a significant rally on Friday, with the benchmark KSE-100 index climbing 341 points. The index closed at 37,584 points, up from 37,243 points, marking a robust session of across-the-board buying activities.

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KARACHI: The stock market increased by 76 points on Thursday amid profit taking during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,243 points as against 37,167 points showing an increase of 76 points.

Analysts at Arif Habib Limited said that the market gained +340 points and closed the session +76 points. Cement, Steel, Autos and Fertilizer stayed in the limelight with buying activity, whereas E&P and blue chip banks faced selling pressure.

Concerns on political uncertainty caused the investors to be cautious of downward adjustment in the Index and preferred booking profits wherever they could.

A major chunk of trading volumes was generated in MLCF’s Right shares, which registered volume of 38.6 million shares (11.5 percent of total).

Prices of MLCF and its Right went down in initial trading but saw heavy buying activity that took the prices towards upper circuit. Cement sector led the volumes with 47.4 million shares, followed by Banks (36.1 million) and Engineering (31.9 million). Among scrips, MLCFR1 registered volume of 38.6 million, followed by BOP (17.6 million) and PAEL (16.3 million).

Sectors contributing to the performance include Autos (+40 points), Banks (+23 points), Cement (+23 points), Pharma (+17 points), Technology (+13 points), E&P (-33 points), and O&GMCs (-16 points).

Volumes increased from 275.4 million shares to 336 million shares (+22 percent DoD). Average traded value however, declined by 6 percent to reach US$ 65.4 million as against US$ 69.2 million.

Stocks that contributed significantly to the volumes include MLCFR1, BOP, PAEL, TRG and DSL, which formed 30 percent of total volumes.

Stocks that contributed positively include MEBL (+26 points), BAHL (+22 points), INDU (+16 points), MTL (+16 points) and DGKC (+12 points). Stocks that contributed negatively include HBL (-32 points), COLG (-12 points), OGDC (-11 points), POL (-9 points), and LUCK (-9 points).

KARACHI: The stock market gained 401 points on Wednesday to cross 37,000 mark after seven months.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,167 points from last day’s closing of 36,7666 points.

Analysts at Topline Securities said that after depicting a flattish trend in last session, KSE-100 index returned to its upward trajectory to record gain of 1.09 percent/401 points to close at 37,167 level.

The last time the market saw 37,000 was back in Apr-2019 7 months ago.

Furthermore, today the value traded of Rs10.7 billion was the highest of the year thus far.

As per rumors in the market, Pension fund has made investment in mutual funds which led the index to rally 401 points.

Furthermore, (NML) Nishat Mills Limited ,(GATM) Gul Ahmad Textile Mills & FML Feroze Mills Limited closed positively in range of 3-5 percent on recent export based incentives package announced by state bank of Pakistan.

Top contributors to the Index were HBL (+64), followed by BAHL (+44) , ENGRO (+34) & MARI (+30).

Investor participation in terms of volume was recorded at 275 million shares down 6 percent; while traded value was up by 8 percent at Rs.10.7 billion.

UNITY was the market leader followed by WTL & TRG which cumulatively added 24 million shares to total volume.

KARACHI: The stock market ended down by 38 points on Tuesday owing to bearing trend prevailed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,766 points as against 36,803 points showing a decline of 38 points.

Analysts at Arif Habib Limited said that after making another stride of 368 points the index fell into bearish spell and saw erosion of gains made during the day, ending the session at a loss of 38 points.

Cement sector that garnered the most trading volume on the bourse, traded green for most part of the session, but saw selling activity in LUCK. On the whole, Banking, Fertilizer and Chemical sector largely performed negative and was further contributed by E&P and OMCs, which saw selling pressure by the end of the session.

Cement sector led the volumes with 44.6 million shares, followed by Technology (33.4 million) and Chemical (28.1 million). Among scrips, UNITY saw trading volumes of 16.1 million shares, followed by PAEL (16.1 million) and TRG (14.6 million).

Sectors contributing to the performance include Power (+80 points), Autos (+17 points), Food (+16 points), Technology (+15 points), Fertilizer (-69 points), Banks (-49 points), E&P (-34 points) and INv Banks (-27 points).

Volumes increased from 282.9 million shares to 292.1 million shares (+3 percent DoD). Average traded value also increased by 10 percent to reach US$ 64.3 million as against US$ 58.5 million.

Stocks that contributed significantly to the volumes include UNITY, PAEL, TRG, ISL and FCCL, which formed 24 percent of total volumes.

Stocks that contributed positively include HUBC (+58 points), INDU (+16 points), KAPCO (+14 points), TRG (+12 points) and DGKC (+12 points). Stocks that contributed negatively include FFC (-35 points), DAWH (-25 points), EFERT (-25 points), POL (-20 points), and MCB (-19 points).

KARACHI: The stock market surged by 825 points on Monday owing to expected policy rate cut, MSCI review and reports of deal of the government with PML (N).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,803 points as against 35,978 points showing an increase of +825 points.

Analysts at Arif Habib Limited said that the market surged again with a mammoth 840 points and closed the session near day’s high that too at a time when the index has already increased by around 7000 points from low.

“Deal with PML (N) being on the cards, besides possible cut in SBP policy rate and MSCI review proving to be a non-event gave confidence to investors and rather than adjusting downwards, as was anticipated (possibly due to overbought levels) the market went up.”

Market volumes increased as well over the day, registering trading volumes of 283 million shares, contributed mostly by Banks (50.4 million) followed by Cement (32.5 million) and Technology (30.7 million).

Among scrips, BOP registered trading volume of 35.9 million shares, followed by WTL (14.5 million) and MLCF (11.7 million).

Sectors contributing to the performance include Banks (+221 points), E&P (+142 points), Power (+108 points), Cement (+82 points) and O&GMCs (+71 points).

Volumes increased from 210.6mn shares to 282.9mn shares (+34 percent DoD). Average traded value also increased from US$ 42.1mn to US$ 58.5mn (+39 percent DoD).

Stocks that contributed significantly to the volumes include BOP, WTL, MLCF, PIAA and LOTCHEM, which formed 29 percent of total volumes.

Stocks that contributed positively include HUBC (+81 points), UBL (+56 points), OGDC (+52 points), HBL (+48 points) and PPL (+42 points). Stocks that contributed negatively include PAKT (-28 points), PMPK (-8 points), MUREB (-4 points), DCR (-1 points), and SHFA (-1 points).

KARACHI: The upswing in the market may be met with some profit-taking next week. The continuation of the sit-in in the federal capital may create some apprehensions which we expect to create some short-lived jitters in the market, analysts said.

“We expect the stabilizing macro-economy to continue fueling the bullish trend over the medium to long term,” analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.2x (2020) compared to Asia Pac regional average of 13.6x and while offering DY of ~8.8 percent versus ~2.5 percent offered by the region.

The jubilance in the KSE-100 index continued from last week and provided an 11-week high return of 4.7 percent WoW. Expectation of a rate cut in the near future on the back of continuous decline in government securities’ yields was further cemented with the government slashing National Savings Scheme profit rates by 170-228bps across the different schemes.

However, inflation reading for October 2019 settled at 11.04 percent YoY which was higher than expectations, but failed to deter the positive momentum. Moreover, SBP reserves increased to USD 8.4 billion which is the highest level since April.

Furthermore, external account position continued to improve with the trade deficit declining 34 percent YoY during 4MFY20. The index closed at 35,978 points – a 6 month high (124 trading sessions), and up by 1601 points WoW.

Foreign buying was witnessed this week clocking-in at USD 4.5 million compared to a net sell of USD 3.1 million last week. Buying was witnessed in Fertilizer (USD 6.7 million) and OGMCs (USD 3.2 million).

On the domestic front, major selling was reported by Banks / DFIs (USD 6.0 million) and Insurance Companies (USD 4.6 million). Average Volumes settled at 258 million shares (up by 55 percent WoW) while average value traded clocked-in at USD 54 million (up by 52 percent WoW).