Tag: Pakistan Stock Exchange

KARACHI: The Stock market may be range bound next week owing to owing to decision of Financial Action Task Force (FATF) related to measures taken by Pakistan for prevention of money laundering and terror financing.

Analysts at Arif Habib Limited said that the market to be range bound next week. Pakistan may have narrowly escaped being blacklisted, but the FATF has tasked the government to address outstanding issues by Feb’20, in order to avoid being placed on the black list.

With many financial results to be announced in the coming week, the analysts expect activity to be accordingly influenced.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2020) compared to Asia Pac regional average of 13.3x and while offering DY of ~0.9 percent versus ~1.8 percent offered by the region.

The market commenced on a negative note this week primarily due to uncertainty over the FATF outcome from the meetings held this week.

During the week investor sentiment improved after three countries (China, Turkey and Malaysia) voted in favor of Pakistan, which eventually helped save the country from being blacklisted by FATF.

However, Pakistan still remains on grey list of FATF. Weekly return turned negative after a 2 week bull run with the KSE-100 index closing at 33,870 points, shedding 606 points (down by 1.8 percent) WoW.

Sector-wise positive contributions came from i) Fertilizers (99 points), ii) Food & Personal care products (15 points), and iii) Chemical (14 points) while negative contributions were led by i) Banks (279 points), ii) Cement (89 points) and iii) E&P Companies (78 points). Scrip-wise negative contributions were led by HBL (111 points), UBL (84 points), LUCK (65 points), HUBC (58 points) and POL (57 points).

Foreign selling continued this week clocking-in at USD 2.1 million compared to a net sell of USD 4.2 million last week. Selling was witnessed in Commercial Banks (USD 3.4 million) and Exploration & Production (USD 1.0 million).

On the domestic front, major buying was reported by Individuals (USD 8.4 million) and Banks / DFIs (USD 5.4 million). Average Volumes settled at 140 million shares (down by 51 percent WoW) while average value traded clocked-in at USD 30 million (down by 47 percent WoW).

KARACHI: The stock market witnessed 28 points decline on Friday amid announcement of FATF regarding Pakistan’s position.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,870 points as against 33,899 points showing a decline of 28 points.

Analysts at Arif Habib Limted said that the market ended the first session +124 points with 45 million shares in trade, however, the second session resulted in index closing in red with -28.4 points, adding 70 million more shares in trading volume.

Activity was relatively brisk in second session as compared to first session.

The second session braced for the impact of FATF decision on Pakistan, which gives a hint of stern action in case the unresolved action points are not resolved. Pakistan stays in grey list till February 2020.

Overall, the market oscillated between +198 points and -231 points, where the second half showed more negativity. EFERT announced its financial results that gave more than anticipated dividends thus giving way for the stock price to hit upper circuit.

Sectors contributing to the performance include Banks (-52 points), Tobacoo (-37 points), Chemical (-13 points), Autos (-12 points), Fertilizer (+104 points).

Volumes declined from 137.9 million shares to 115 million shares (-17 percent DoD). Average traded value on the contrary increased by 30 percent to reach US$ 31.3 million as against 24.2 million.

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

Stocks that contributed positively include ENGRO (+56 points), EFERT (+41 points), NESTLE (+12 points), FFC (+11 points) and MARI (+10 points). Stocks that contributed negatively include HBL (-39 points), PAKT (-27 points), OGDC (-16 points), INDU (-12 points), and PMPK (-10 points).

KARACHI: The stock market ended with decline of 383 points on Thursday owing to selling pressure seen in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,899 points as against 34,281 points showing a decline of 383 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +12 points and 0.4 million shares.

The benchmark index went up to 80 points earlier in the session, which was followed by growing selling pressure.

The only stock that mattered today was clearly LOTCHEM, which realized trading volume of 59.6 million shares (approx. 16 percent of its free float and 43 percent of the total trading volume of today).

No other stock managed to cross even 6 million share traded volume. LOTCHEM announced 9 million financial results, which was largely inline with street estimates, however, cherry on top was 15 percent dividend that matched last year’s declaration.

On the whole, index lost 383 points with a total volume of 138 million shares, most of which was contributed by Chemical sector and followed by Technology (8.1 million) and Power (7.9 million). Among scrips, KEL (5.2 million) and TRG (4.2 million) followed LOTCHEM.

Sectors contributing to the performance include Banks (-147 points), E&P (-87 points), Cement (-36 points), Pharma (-33 points) and O&GMCs (-23 points).

Volumes declined from 151.4 million shares to 137.9 million shares (-9 percent DoD). Average traded value also declined by 23 percent to reach US$ 24.1 million as against US$ 31.4 million.

Stocks that contributed significantly to the volumes include LOTCHEM, KEL, TRG, UNITY and QUICE, which formed 55 percent of total volumes.

Stocks that contributed positively include KAPCO (+7 points), COLG (+7 points), ICI (+4 points), MUREB (+4 points) and EFERT (+3 points). Stocks that contributed negatively include HBL (-54 points), UBL (-39 points), MARI (-26 points), PPL (-25 points), and LUCK (-19 points).

KARACHI: The stock market gained 198 points on Wednesday in mixed trading sessions.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,281 points as against 34,084 points showing an increase of +198 points.

Analysts at Arif Habib Limited said that the market made a positive move today with a total increase of 351 points and closed the session at 198 points.

During the session, UBL announced financial results, however the stock price did not react positively to the results, ending the session a rupee down compared with previous closing.

Oil & Gas scrips from E&P to OMCs generally fared well, with PPL registering volume of 2.3 million shares. Cement sector saw selling pressure and so did Steel, but managed to close the session in green.

Technology stocks remained in limelight with traded volumes of 22.9 million shares, followed by Chemical (17.4 million) and Power (14.1 million). Among scrips, KEL registered 11.8 million shares followed by WTL (11.8 million) and UNITY (9.9 million).

Sectors contributing to the performance include Banks (+49 points), E&P (+46 points), Fertilizer (+36 points), O&GMCs (+30 points) and Food (+19 points).

Volumes declined slightly from 156.4 million shares to 150.8 million shares (-4 percent DoD). Average traded value also declined by 8 percent to reach US$ 31.3 million as against US$ 34 million.

Stocks that contributed significantly to the volumes include KEL, WTL, UNITY, LOTCHEM and FCCL, which formed 31 percent of total volumes.

Stocks that contributed positively include PPL (+40 points), OGDC (+27 points), PSO (+20 points), ENGRO (+19 points) and BAHL (+16 points). Stocks that contributed negatively include UBL (-15 points), HUBC (-13 points), POL (-11 points), MARI (-10 points), and LUCK (-6 points).

KARACHI: The stock market declined by 103 points on Tuesday amid positive vibes of FATF proceedings, which maintained interest of investors, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange closed at 34,084 points as against 34,186 points showing a decline of 103 points.

Analysts at Arif Habib Limited said that the index lost another 100 points, after an oscillation of +73 points and -257 points, but maintained the 34,000 level.

Largely, Oil and Gas chain and Auto sector kept the index under pressure, which was due to lower international crude prices.

Second day of FATF proceedings, on the whole, gave positive vibes that helped investors maintain interest. Brokerage commission, which also proved to be an issue yesterday had a slight impact on the activity.

Volumes, nonetheless, inched up over the day. Cement sector again led the volumes with 27.5 million shares, followed by Technology (26.7 million) and Chemical (18 million) stocks. Technology sector stocks have lately been in the limelight for some time now, courtesy of WTL. Among scrips, WTL led the table with 18.3 million shares, followed by FCCL (14.3 million) and LOTCHEM (8.7 million).

Sectors contributing to the performance include E&P (-59 points), Power (-45 points), Fertilizer (-18 points), O&GMCs (-12 points) and Chemical (+7 points).

Volumes increased from 137.9 million shares to 1562 million shares (+13 percent DoD). Average traded value also increased by 10 percent to reach US$ 33.9 million as against US$ 30.8 million.

Stocks that contributed significantly to the volumes include WTL, FCCL, LOTCHEM, EPCL and UNITY, which formed 35 percent of total volumes.

Stocks that contributed positively include HBL (+9 points), FCCL (+9 points), FABL (+8 points), COLG (+6 points) and MCB (+6 points). Stocks that contributed negatively include HUBC (-41 points), POL (-23 points), OGDC (-21 points), SNGP (-14 points), and ENGRO (-11 points).

KARACHI: The stock market ended down by 289 points on Monday as market traded in narrow band.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,186 points as against 34,476 points showing a decline of 289 points.

Analysts at Arif Habib Limited said that index was traded in a narrow band for most part of the day but started taking shape (negative direction) by the end of session.

During the session, the market see-sawed between +222 points and -351 points.

Among the drivers that affected market activity today were the implementation of higher brokerage commission, which caused institutional and individual investors largely at bay, and ongoing meeting with FATF, where Pakistan is expected to avoid set back.

International crude prices also dipped during the session, which had negative impact on the E&P stocks and neutral to negative expectation on financial results of Refineries and OMCs kept selling pressure on such stocks.

Technology sector led the volumes table with 30.8 million shares, followed by Cement (17.7 million) and Chemical (17.1 million). Among scrips, WTL led the volumes with 14.3 million shares followed by TRG (11.6 million) and LOTCHEM (9.7 million).

Sectors contributing to the performance include Banks (-133 points), Cement (-52 points), Fertilizer (-30 points), Pharma (-21 points), Textile (-20 points) and E&P (+21 points).

Volumes fell from 287.1 million shares to 137.9 million shares (-52 percent DoD).

Average traded value also declined by 55 percent to reach US$ 30.8 million as against US$ 67.7 million.

Stocks that contributed significantly to the volumes include WTL, TRG, LOTCHEM, UNITY and FCCL, which formed 38 percent of total volumes.

Stocks that contributed positively include MARI (+23 points), DAWH (+18 points), OGDC (+16 points), HUBC (+8 points) and COLG (+6 points).

Stocks that contributed negatively include HBL (-42 points), LUCK (-40 points), MCB (-26 points), UBL (-19 points), and SEARL (-17 points).

KARACHI: The outcome of FATF meeting will move the direction of the stock market during next week, analysts said.

The analysts at Arif Habib Limited said that the market to remain positive on the back of improving external account position, country witnessing foreign net inflows in T-bills and lower inflationary reading expected in October 2019.

On the other hand, government is focusing to manage twin deficits and to meet IMF’s second quarterly revenue and tax collection targets.

However, FATF review is scheduled on 13-18th October to discuss Pakistan’s progress to control terror financing and corrective measures.

“Any favorable or unfavorable outcome could pose upside or downside risks to market performance.”

This week trading commenced on positive note attributable to Asia Pacific Group’s report on money laundering in which Pakistan was found partially compliant on majority of the issues which improved investors’ confidence.

On the other hand, Prime Minister Imran Khan’s successful visit to China in which they expressed satisfaction on CPEC progress further improved overall sentiment.

Moreover, news of increase in cement prices in the Northern Region as per PBS was the major driver for the Cement sector throughout the week.

Decline in money market yields and inversion of the yield curve continued to attract investors back to equities.

As a result, the benchmark KSE-100 index closed above the 34,000 mark at 34,476 points, increased by 1,442 points or 4.37 percent WoW.

Contribution to the upside was led by i) Commercial Banks (+492 points) amid expectation of healthier financial result, ii) Oil and Gas Exploration Companies (+270 points) due to attractive valuation, iii) Fertilizer (+146 points), iv) Pharmaceuticals (+90 points), and v) Cement (+87 points).Scrip wise major gainers were HBL (+153 points), MARI (+116 points), UBL (+104 points), POL (+83 points), and HUBC (+76 points). Whereas, scrip wise major losers were ISL (-11 points), PMPK (-11 points), and EFUG (-8 points).

Foreign offloaded stocks worth of USD 4.15 million compared to a net sell of USD 4.7 million last week. Major selling was witnessed in Commercial Banks (USD 4.56 million) and Exploration & Production (USD 1.73 million).

On the local front, buying was reported by Companies (USD 3.91 million) followed by other organizations (USD 3.59 million).

That said, average daily volumes for the outgoing week were massively up by 28 percent to 284 million shares likewise value traded increased by 42 percent to USD 56.9 million.

KARACHI: The stock market gained 448 points on Friday on expectations of positive outcome of FATF meeting.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 34,476 points as against 34,028 points showing an increase of 448 points.

Analysts at Arif Habib Limited said that the market continued the uptrend today, expecting positive outcome of the FATF meeting in the coming week.

They said that mid of the month is also going to see several corporate announcing financial results, which also had the market trade, largely in positive direction.

Cement and Steel sector braced decline following the trend in the past couple of sessions.

During the session, the news of Iranian oil tanker explosion had international crude oil prices spike resulting positively on the E&P sector.

Refinery sector lagged behind due to concerns on upcoming quarterly results. Traded value hit the highest level in rupee terms during 2019.

Besides, Technology sector led the volumes table with 56.4 million shares, followed by Cement (35 million) and Chemical (31.9 million).

Among scrips, WTL ranked top with 30.8 million shares, followed by LOTCHEM (19.1 million) and TRG (18.8 million).

Sectors contributing to the performance include Banks (+170 points), E&P (+89 points), Fertilizer (+39 points), Cement (+38 points) and Power (+31 points).

Volumes increased again from 261.6 million shares to 287 million shares (+10 percent DoD). Average traded value also increase by 25 percent to reach US$ 677 million as against US$ 54.2 million.

Stocks that contributed significantly to the volumes include WTL, LOTCHEM, TRG, UNITY and BOP, which formed 33 percent of total volumes.

Stocks that contributed positively include HBL (+75 points), OGDC (+36 points), HUBC (+33 points), UBL (+30 points) and LUCK (+29 points). Stocks that contributed negatively include FFC (-8 points), NESTLE (-8 points), AGP (-6 points), KEL (-4 points), and PIBTL (-4 points).

KARACHI: The stock market gained over 500 points on Thursday on across the board trading activity witnessed in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,028 points as against 33,524 points showing an increase of 504 points.
Analysts at Arif Habib Limited said that the market rebounded today with a jump of 500 points that took the index above 34,000 level, last seen in early July 2019.

Activity was observed across the board, but mainly contributed by Banking and Cement sectors. Expectation of further increase in Cement price / bag gave way to optimism in Cements, while improvement in fixed income portfolio for the Banks also engaged Investors.

Volumes improved over the day to 261 million shares and were mainly contributed by Chemical sector, which performed consecutively to reach a turnover of 49.4 million shares, followed by Cement (30.3 million) and Banks (23.9 million). Among scrips, LOTCHEM realized volume of 26.5 million shares, followed by PIBTL (17.2 million) and KEL (16.4 million).

Sectors contributing to the performance include Banks (+115 points), E&P (+74 points), Cement (+58 points), Power (+40 points) and Tobacco (+31 points).

Volumes increased from 237.7 million shares to 261.1 million shares (+10 percent DoD). Average traded value also increased by 32 percent to reach US$ 54 million as against U$ 40.9 million.

Stocks that contributed significantly to the volumes include LOTCHEM, PIBTL, KEL, UNITY and EPCL, which formed 33 percent of total volumes.

Stocks that contributed positively include LUCK (+41 points), UBL (+32 points), HBL (+31 points), PAKT (+31 points) and HUBC (+30 points). Stocks that contributed negatively include BAFL (-13 points), EFERT (-7 points), JLICL (-5 points), PPL (-3 points), and IGIHL (-2 points).

KARACHI: The stock exchange ended with gain of 47 points on Wednesday as market traded in narrow band.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,524 points as against 33,477 points showing an increase of +47 points.

Analysts at Arif Habib Limited said that the market continued trading in a narrow band between +128 points and -137 points and closed the session +47 points.

Chemical sector contributed positively to the index, whereby LOTCHEM, EPCL, DOL hit upper circuits due to better expectation of financial results of the outgoing quarter.

Quarterly financial results are due to be announced in October. Besides, buying activity was also observed in O&GMCs and small cap banks.

The index braced selling pressure largely from Steel and Cement sectors, which are the subject of profit booking and have shown decent price growth since recent lows.

Chemical sector topped the volumes with 48.7 million shares, followed by Cement (26.8 million) and Vanaspati (26.1 million). Among scrips, LOTCHEM led the volumes with 27 million shares followed by UNITY (26 million) and BOP (14 million).

Sectors contributing to the performance include Pharma (+28 points), E&P (+23 points), Banks (+17 points), Power (+16 points), Chemical (+10 points) and Cement (-48 points).

Volumes declined further from 243 million shares to 237.4 million shares (-2 percent DoD). Average traded value declined from US$ 56.9 million to US$ 40.9 million (-28 percent DoD).

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

Stocks that contributed positively include HUBC (+27 points), MARI (+24 points), HBL (+18 points), UBL (+14 points) and POL (+13 points). Stocks that contributed negatively include LUCK (-23 points), MCB (-17 points), DGKC (-14 points), OGDC (-12 points), and NBP (-12 points).