Tag: Pakistan Stock Exchange

KARACHI: The stock market will move with the outcome of monetary policy announcement scheduled for Monday September 16, 2019 and expected visit of a delegation of International Monetary Fund (IMF) next week.

Analysts at Arif Habib Limited said that the monetary policy committee is scheduled to convene on Monday September 16, 2019 and it is expected that the State Bank of Pakistan (SBP) to announce a 25 basis points cut which should relieve levered sectors such as Cements, Steel and select Automobile and Oil Marketing Companies.

In addition, the staff-level delegation of the IMF is expected to visit Pakistan next week to review the county’s economic performance and any development in this regard will have implications for the stock market.

Whereas, Prime Minister Imran Khan is scheduled to travel to Saudi Arabia on September 19, 2019 to discuss the Indo-Pak tensions over Kashmir.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.6x (2020) compared to Asia Pac regional average of 13.1x and while offering DY of ~9.8 percent versus ~2.4 percent offered by the region.

The analysts said that the incumbent government adopted a stringent monetary policy in the past year to fix external imbalances but with good, comes the bad; this also dampened domestic demand and added to the companies’ financial woes.

Albeit, the market demonstrated a stunning rally in the outgoing week with market participants anticipating a cut in the State Bank of Pakistan’s benchmark policy rate, post rebasing of CPI.

Moreover, buying by certain provincial funds also garnered positivity at the index. The market closed at 31,481 points (up by 1,014 points / 3.3 percent WoW).

Sector-wise positive contributions came from i) Commercial Banks (270 points), ii) Oil & Gas Exploration Companies (213 points), iii) Fertilizers (196 points), iv) Power Generation & Distribution (95 points), and v) Cement (86 points). Scrip-wise positive contributions were led by PPL (122 points), OGDC (89 points), LUCK (84 points), UBL (75 points) and FFC (72 points).

Foreign buying was witnessed this week clocking-in at USD 1.01 million compared to a net sell of USD 5.32 million last week. Buying was witnessed in E&P (USD 1.4 million) and Cement (USD 1.0 million).

On the domestic front, major selling was reported by Individuals (USD 4.8 million) and Banks / DFIs (USD 4.5 million). Average Volumes settled at 130 million shares (up by 39 percent WoW) while average value traded clocked-in at USD 38 million (up by 70 percent WoW).

KARACHI: The stock market ended down by 65 points on Friday in a narrow range trading of 86 points and -267 points with total volume of 103 million shares.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX)closed at 31,481 points as against 31,546 points showing a decline of 65 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today between +83 points and -267 points with a total volume of 103 million shares.

Mixed trend was witnessed in E&P scrips that brought the index in red zone. Cement and Steel sector scrips also made positive moves with ASTL and MUGHAL hitting upper circuits.

Stocks that contributed to selling pressure mainly included HUBC, HBL and MLCF. Cement sector led the volumes table with 18.7 million shares followed by E&P (7.1 million) and Engineering (8.2 million). Among scrips, MLCF ranked top with 7.5 million shares followed by UNITY (7.1 million) and OGDC (6.8 million).

Sectors contributing to the performance include Cement (+43 points), Fertilizer (+16 points), Insurance (+11 points), Banks (-116 points), Autos (-23 points), Power (-23 points).

Volumes declined from 185.8 million shares to 103 million shares (-45 percent DoD). Average traded value also declined by 43 percent to reach US$ 29.9 million as against US$ 52 million.

Stocks that contributed significantly to the volumes include MLCF, UNITY, OGDC, PAEL and LOTCHEM, which formed 30 percent of total volumes.

Stocks that contributed positively include LUCK (+47 points), EFERT (+15 points), KAPCO (+15 points), PPL (+14 points) and UBL (+10 points). Stocks that contributed negatively include HBL (-69 points), HUBC (-35 points), MCB (-34 points), MARI (-17 points), and BAHL (-17 points).

Related Stories

Stock market gains 592 points on rate cut hope

KARACHI: The stock market gained 592 points on Thursday due to broad buying activity on hopes of rate cut in the upcoming monetary policy announcement.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,546 points as against 30,955 points showing an increase of 592 points.

Analysts at Arif Habib Limited said that the market performed well today, with across the board buying activity.

E&P, Banks and Cement contributed positively to the points table that showed a jump of 892 points during the session.

Major reason for general positivity seems to be expectation of rate cut, which had an indication from recent auction of treasury bills that saw yield curve sliding further.

Market on close, however, saw attrition of ~350 points closing the index to +553 points (unadjusted). E&P stocks saw reversal in prices by end of session. Cement sector led the volumes with 31 million shares, followed by Technology (26.4 million) and Power (22.9 million). WTL led the volumes with 18.3 million shares, followed by KEL (11.7 million) and MLCF (11.1 million).

Sectors contributing to the performance include Banks (+179 points), Fertilizer (+111 points), Cement (+75 points), Power (+51 points) and E&P (+51 points).

Volumes increased from 99.6 million shares to 185.8 million shares (+86 percent DoD). Average traded value also increased by 64 percent to reach US$ 51.9 million as against US$ 31.6 million.

Stocks that contributed significantly to the volumes include WTL, KEL, MLCF, HUBC and FCCL, which formed 33 percent of total volumes.

Stocks that contributed positively include BAHL (+49 points), LUCK (+48 points), FFC (+42 points), ENGRO (+41 points) and PPL (+39 points). Stocks that contributed negatively include MUREB (-10 points), KTML (-4 points), HASCOL (-2 points), AGIL (-2 points), and SML (-1 point).

Related Stories

Stock market gains 488 points on positive talks on FATF meeting

KARACHI: The stock market gained 488 points on Wednesday owing to positive talks on conditions of Financial Action Task Force (FATF) at a meeting in Bangkok, Thailand.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,954 points as against 30,467 points showing an increase of 488 points.

Analysts at Arif Habib Limited said that the index fared well on the first day of the short trading week after a long weekend.

Positive expectations from ongoing FATF meeting in Bangkok and relatively higher international crude prices kept the investors’ interest alive.

OGDC and PPL led the index by hitting upper circuit and gaining significant volumes, however, both scrips closed below upper circuit.

The index also drew support from Banking sector, which saw HBL hitting upper circuit and other scrips trading mostly in green.

Cement, Steel, O&GMCs mostly played on the negative side. Most volume was observed in Cement sector that saw 18.1M shares, followed by E&P (12.2 million) and Technology (11.1 million). Among scrips, MLCF led the volumes table with 11.5 million shares followed by OGDC (8.8 million) and WTL (6.7 million).

Sectors contributing to the performance include Banks (+207 points), E&P (+163 points), Fertilizer (+81 points), Power (+67 points), Cement (-33 points) and Food (-17 points).

Volumes increased from 48.2mn shares to 99.6mn shares (+107 percent DoD). Average traded value also increased by 103 percent to reach US$ 31.6 million as against US$ 15.5 million.

Stocks that contributed significantly to the volumes include MLCF, OGDC, WTL, EFERT and HUBC, which formed 37 percent of total volumes.

Stocks that contributed positively include HBL (+87 points), OGDC (+77 points), PPL (+68 points), HUBC (+65 points) and MCB (+46 points). Stocks that contributed negatively include LUCK (-11 points), NESTLE (-9 points), FCCL (-8 points), DGKC (-7 points), and MUREB (-6 points).

Related Stories

Weekly Review: stock market to remain positive on rate cut hopes

KARACHI: The stock market to remain positive during next week owing to hopes of rate cut by the central bank on latest inflation numbers.

(more…)

The stock market surged by 252 points on Friday, driven by optimism surrounding a potential interest rate cut in response to the latest inflation figures.

(more…)

KARACHI: The stock market ended flat on Thursday in a mixed trading session. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,215 points as against 30,244 points showing a decline of 30 points.

Analysts at Arif Habib Limited expressed the market started as a sign of recovery turned out to be a short lived spike.

DGKC and MLCF that started the day on a positive note and saw upper circuit (DGKC) and close to upper circuit trades (MLCF), price came down sharply in the end, due to rumour of Rights issue by both companies.

Similarly, Steel sector scrips also showed positive trend in the beginning but closed in red in the end.

E&P sector barely sustained yesterday’s stride and closed at almost same rate as yesterday.

Besides, POL opened today Ex-Dividend and spiked due to buying activity, however, the end of session again saw it trading below opening rate.

Banks, Auto & O&GMC sectors also contributed to the slide in Index. Cement sector realized the most volume with 36.1 million shares, followed by Technology (21.3 million) and Chemical (15.6 million).

Among scrips, MLCF topped the chart with 17.2 million shares followed by WTL (12.9 million) and LOTCHEM (10.4 million).

Sectors contributing to the performance include Power (+43 points), E&P (+29 points), Banks (+17 points), Fertilizer (-37 points), Cement (-33 points) and O&GMCs (-15 points).

Volumes increased from 128.9 million shares to 146.5 million shares (+14 percent DoD). Average traded value also increased from US$ 31.3 million to US$ 32.6 million (+4 percent DoD).

Stocks that contributed significantly to the volumes include MLCF, WTL, LOTCHEM, PAEL and UNITY, which formed 37 percent of total volumes.

Stocks that contributed positively include HUBC (+45 points), HBL (+38 points), PPL (+15 points), ABL (+13 points) and OGDC (+13 points). Stocks that contributed negatively include MCB (-36 points), ENGRO (-33 points), UBL (-26 points), NESTLE (-15 points), and LUCK (-12 points).

Related Stories

Stock market gains 435 points on lower inflation numbers

KARACHI: The stock market gained 435 points on Wednesday owing to lower than anticipated inflation numbers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,244 points as against 29,810 points showing an increase of 435 points.

Analysts at Arif Habib Limited said that the release of Consumer Price Index (CPI) data proved to be required stimulus that the investors were waiting for.

Latest release of CPI indicates a lower than anticipated reading and gave confidence to the view that SBP will likely consider revising down the policy rate.

Buying activity was observed almost across the board with the exception of banking sector scrips, which kept the blue chips in banking sector universe in red and the main reason behind -342 points earlier in the session.

In totality, the index spiked by 568 points by close of session and ended at +557 points (unadjusted). Cement sector led the upsurge in index, which was supported by O&GMCs and E&P sectors where OGDC and PPL also hit upper circuit.

Sectors that led the volumes table included Cement (29.2 million), Banks (18 million) and Technology (13.5 million). Among scrips, MLCF (11.4 million), FCCL (9.9 million) and UNITY (9.4 million) contributed to the performance.

Sectors contributing to the performance include E&P (+148 points), Cement (+81 points), Fertilizer (+56 points), O&GMCs (+46 points), Power (+20 points), Banks (-33 points).

Volumes doubled from 64 million shares to 128.7 million shares (+101 percent DoD). Average traded value also increased by 100 percent DoD to reach US$ 31.2 million as against US$ 15.6 million.

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

Stocks that contributed positively include ENGRO (+61 points), OGDC (+56 points), PPL (+54 points), LUCK (+46 points) and MCB (+39 points). Stocks that contributed negatively include BAHL (-38 points), MEBL (-25 points), FFC (-17 points), NBP (-7 points), and HBL (-7 points).

Related Stories

KSE-100 falls by 248 points on selling pressure

KARACHI: The stock market fell 248 points on Tuesday on selling pressure at the closing.

The benchmark KSE-100 index closed at 29,810 points as against 30,057 points showing a decline of 248 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with 25 points and extended gains till 190 points after which selling activity caused the index to plunge by 318 points.

Last half hour of market kept the selling pressure, ending the session with -248 points. OGDC, PPL performed well earlier in the session and showed gains over yesterday’s closing, however, profit booking caused the stocks to retreat with a closure below LDCP.

Other than E&P, Cement, Fertilizer and Banking sector added fuel to selling pressure.

Cement sector led the volumes table with 11 million shares, followed by Technology (9.2 million) and E&P (4.7 million).

Among scrips, MLCF garnered 6.2 million shares, followed by WTL (4.5 million) and UNITY (4.2 million).

Sectors contributing to the performance include Banks (-70 points), Cement (-49 points), Power (-41 points), E&P (-21 points), and Pharma (-19 points).

Volumes declined further from 77.4 million shares to 63.9 million (-17 percent DoD). Average traded value also declined by 6 percent to reach US$ 15.6 million as against US$ 16.5 million.

Stocks that contributed significantly to the volumes include MLCF, WTL, UNITY, TRG and OGDC, which formed 34 percent of total volumes.

Stocks that contributed positively include SNGP (+8 points), NML (+7 points), MUREB (+6 points), AICL (+6 points) and DAWH (+5 points). Stocks that contributed negatively include HUBC (-35 points), LUCK (-31 points), MCB (-26 points), PPL (-20 points), and MEBL (-14 points).

Related Stories

Stock market gains 385 points amid fault at opening