Tag: Pakistan Stock Exchange

KARACHI: The earnings of benchmark KSE-100 index of Pakistan Stock Exchange witnessed a decline of 1.2 percent year on year during July – March 2018/2019.

Analysts at Arif Habib Limited said on Monday that based on sectoral weight, this was led primarily by Cements (-7.8 percent YoY; 5.7 percent weight), Oil & Gas Marketing Companies (-65 percent YoY; 4.3 percent weight), Automobile Assemblers (-44 percent YoY; 3.1 percent weight), and Pharmaceuticals (-34 percent YoY; 1.9 percent weight).

Whereas sectors that remained top performers were Commercial Banks (+2.1 percent YoY; 28.0 percent weight), Oil & Gas Exploration Companies (+35 percent YoY; 15.7 percent weight), Fertilizers (+5.7 percent YoY; 14.3 percent weight), Power Generation & Distribution (+21.5 percent YoY; 6.5 percent weight), Chemicals (-10 percent YoY; 2.0 percent weight), and Miscellaneous (-63 percent YoY; 1.8 percent weight).

In particular, profitability during 9MFY19 declined by 4.3 percent YoY driven by profits’ attrition in heavy weight Commercial Banks (-27.2 percent YoY) while Oil & Gas Exploration Companies (+46 percent YoY) and Fertilizers (+20.1 percent YoY) posted profitability improvements.

Sequential downturn in bottom-line of the KSE100 index arrived at 3.5 percent QoQ led by pressure faced by Oil & Gas Exploration Companies (-8.8 percent QoQ) and Fertilizers (-23 percent QoQ).

Sectors leading the profitability chart during 9MFY19 were Synthetic & Rayon (+147.8 percent YoY), Textile Weaving (+143.5 percent YoY), and Vanaspati & Allied Industries (+137.3 percent YoY). During 3QFY19, Textile Weaving (+158.8 percent YoY), Woolen (+139.7 percent YoY) and Paper & Board (+102.0 percent YoY) led the earnings chart of the index.

During 3QFY19, the KSE100 index rose by 1,583 points (+4.3 percent QoQ) majorly owing to Banks (919 points), Oil & Gas Exploration Companies (814 points) and Fertilizers (617 points).

During 9MFY19, the KSE100 index declined by 3,259 points (-7.8 percent YoY) with the bearish trend being led by Commercial Banks (-317 points), E&P Companies (-298 points), Cements (-497 points) and the Power sector (-387 points).

On the other hand, Fertilizers (+632 points) and Tobacco (+193 points) contributed positively to the index.

We have based our analysis on the KSE100 index companies. 94 companies have announced their results and have been included in this analysis while the remaining 6 companies have not yet disclosed their results.

The companies which have been included in our analysis represent almost 96 percent of the market capitalization of the benchmark bourse.

KARACHI: The stock market ended flat on Monday in range bound trading activities.

The Index closed at 35,697 points as against 35,704 points showing a slight decline of 6 points.

Analysts at Arif Habib Limited said that market traded range bound between -93 points and +188 points.

The volumes on Al Shares Index withered as compared to recent sessions, nonetheless a total of 125 million shares scored on the board.

Cement Sector remained in the lime light as was the case last week and tallied 21 million shares followed by Technology (17 million) and O&GMCs (14 million).

Among scrips, WTL topped volumes with 10M shares, followed by MLCF (9 million) and SNGP (7 million).

Investors engaged in switching positions while booking profits on scrips that were bought last week resulting in Index taking off.

Buying activity is still intact that encouraged investors to put the despondency in macro variables on the back burner and consider long term fundamentals to take charge.

Sectors contributing to the performance include O&GMCs (+57 points), Pharma (+31 points), Fertilizer (-56 points), E&P (-44 points) and Tobacco (-24 points).

Volumes declined from 142 million shares to 125.2 million (-12 percent DoD). Average traded value also declined by 18 percent to reach US$ 33.3 million as against US$ 40.4 million.

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

Stocks that contributed positively include PSO (+26 points), SNGP (+18 points), SEARL (+15 points), BAHL (+15 points) and ENGRO (+13 points). Stocks that contributed negatively include FFC (-51 points), PAKT (-24 points), PPL (-24 points), POL (-19 points) and NBP (-19 points).

KARACHI: Stock market likely positive in the upcoming weeks amid activation of a PSX stabilization fund in the foreseeable future, analysts said.

This sentiment with also continue along with contraction in the Current Account Deficit (CAD) by 27 percent in 10MFY19 which may improve investor sentiments, analysts at Arif Habib Limited said.

However, they said, economic concerns are still hovering around for instance endless slide of Pak Rupee against the greenback and further rate hikes expected with inflation expected to tick higher post adjustment in utility prices (gas and electricity tariff hike).

This week trading commenced on a positive note despite a 150 basis points hike by the State Bank of Pakistan on Monday, which was higher than consensus expectation of 100 basis points.

To note, revival of investors’ confidence came on the back of a meeting held between stock brokers and Advisor to Prime Minister on Finance Hafeez Sheikh to form a PSX support fund for market stabilization along with approval of deferred oil payment facility of $3.2 billion with Saudi Arabia which will ease pressure on balance of payments’ and foreign exchange reserves.

The market is expecting a fund size of Rs17-20 billion, similar to one launched in 2009, which may invest in government owned companies in the upcoming weeks.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) rebound and posted a positive return after seven weeks to close at 35,704 points, up by 2,537 points (highest increase in terms of points) or 7.65 percent WoW (10-year high return in terms of percentage).

Contribution to the upside was led by i) Fertilizer (+524 points), ii) Commercial Banks (+494 points), iii) Cements (+314 points), iv) Oil and Gas Marketing Companies (+273 points), and v) Oil and Gas Exploration Companies (+273 points).

Scrip wise major gainers were ENGRO (+172 points), LUCK (+167 points), FFC (+157 points), PSO (+136 points), and POL (+120 points).

Foreign buying continued this week clocking-in at USD 0.02mn compared to a net buy of USD 8.21 million last week.

Major buying was witnessed in Cement (USD 2.19 million) and Commercial Banks (USD 1.44 million). On the local front, selling was reported by Insurance Companies (USD 6.01 million) followed by Mutual Funds (USD 5.64 million).

That said, average daily volumes for the outgoing week were significantly up by 66 percent to 178 million shares likewise value traded increased by 44 percent to USD 40 million.

KARACHI: The stock market ended with gain of 123 points on Friday despite selling activity observed at the end of the trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,704 points as against 35,581 points showing an increase of 123 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +54 points and 3.4 million shares traded at opening bell.

However, profit booking started soon that took the index in negative territory. Although buying activity was not observed across the board, bulls were still found to be in control, which took the index up by 185 points.

Cement Sector led the volumes today with 26.9 million shares followed by Banks (18 million).

Among scrips, UNITY led the table with 12.2 million shares, followed by MLCF (8.7 million) traded at upper circuit.

Although total market volume declined, the market seems to have taken positive view on impending State Enterprise Fund that is likely to get a go-ahead in the coming week.

Sectors contributing to the performance include Fertilizer (+82 points), Cement (+64 points), O&GMCs (+31 points), Food (+29 points), Banks (+28 points) and E&P (-139 points).

Volumes dropped from 227.7 million shares to 142 million shares (-38 percent DoD). Average traded value also declined by 15 percent to reach $40.2 million as against $47.4 million.

Stocks that contributed significantly to the volumes include UNITY, MLCF, TRG, PAEL and KEL, which formed 27 percent of total volumes.

Stocks that contributed positively include FFC (+61 points), LUCK (+32 points), NESTLE (+24 points), UBL (+22 points) and DAWH (+21 points). Stocks that contributed negatively include OGDC (-57 points), PPL (-47 points), POL (-36 points), HBL (-13 points) and HMB (-11 points).

The Pakistan Stock Exchange (PSX) witnessed a substantial uptrend on Thursday, as the benchmark KSE-100 index surged by an impressive 944 points, closing at 35,581 points.

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KARACHI: The stock exchange recovered around 1195 points on Wednesday on the hope of buying through state fund.

The benchmark KSE-100 index closed at 34,637 points as against 33,442 points showing an increase of 1195 points.

Analysts at Arif Habib Limited said that the market is showing signs of a bull run in the wake of the State Fund that will likely buy scrips of State owned listed entities.

On the whole, market shot up by 1256 points during the session, and closed +1195 points. Majority stocks hit upper circuit including index blue chips OGDC, PSO, SNGP, NBP and otherwise traded in green zone throughout the session.

Volumes maintained the healthy stride of 150M plus for the third consecutive session and today crossed 200 million shares mark. Banking sector led the volumes table with 44 million shares, followed by Technology (32 million) and Power (19 million) Sectors.

Among banking sector BOP marked hefty volume of 25 million shares, followed by WTL (20 million) in Technology Sector.

Sectors contributing to the performance include E&P (+269 points), Fertilizer (+219 points), Banks (+216 points), Power (+116 points) and Cement (+96 points).

Volumes increased significantly from 153.6mn shares to 203.5mn shares (+32 percent DoD). Average traded value, however, increased by 1 percent merely to reach US$ 35.2 million as against US$ 34.9 million the other day.

Stocks that contributed significantly to the volumes include BOP, WTL, KEL, PIBTL and UNITY, which formed 40 percent of total volumes.

Stocks that contributed positively include OGDC (+93 points), PPL (+93 points), HUBC (+73 points), ENGRO (+66 points) and HBL (+65 points). Stocks that contributed negatively include BAFL (-8 points), INDU (-5 points), JLICL (-4 points), ICI (-2 points) and COLG (-2 points).

KARACHI: The stock market ended with gain on Tuesday continuing the positive sentiments for second consecutive day.

The benchmark KSE-100 index closed at 34,442 points as compared with previous day’s closing of 33,250 points with gain 192 points.

Analysts at Topline Securities said that second consecutive session closed in positive trajectory, as bourse gained 192 points (0.57 percent), closing at 33,442 index level as creation of ‘Stock Market Support Fund’ triggered investors to rush for state owned stocks like, OGDC, SSGC, SNGP and PSO.

These three stocks closed near to their upper locks in today’s session.

Steel sector also outperformed, where ASTL, CSAP, and MUGHAL closed at their upper locks. Additionally, ISL and ASL closed to near to upper lock.

Trading activity remained dull as volume went down by 7 percent, similarly, value decline 13 percent. Unity, TRG and KEL remained the volume leader of today’s session with cumulative volume of 40mn shares.

Out of 307 actively traded scrips today, 173 closed positive, while 133 remained negative.

KARACHI: The stock market ended with gain of 84 points after recovery from massive loss earlier in the day on Monday.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,250 points as against 33,166 points showing an increase of +84 points

Analysts at Arif Habib Limited said that KSE-100 index showed first signs of recovery and that too on a day when SBP is scheduled to announce monetary policy.

Buying activity was observed in index heavy weights after an initial plunge of 814 points.

Several stocks especially Cement sector, saw lower circuits. E&P Sector showed mixed reaction throughout the day, with OGDC trading above last trading day’s closing whereas PPL and POL saw attrition.

PPL hit lower circuit, but recovered by the end of session. Similarly, O&GMCs performed well and SSGC, SNGP were seen trading at upper circuits.

Sectors contributing to the performance include Banks (+74 points), O&GMCs (+50 points), Fertilizer (+31 points), Transport (+18 points), Tobacco (+15 points) and E&P (-118 points).

Volumes increased significantly from 90 million shares to 166 million shares (+83 percent DoD).

Similarly, Average traded value also doubled from US$ 21 million to US$ 41 million.

Stocks that contributed significantly to the volumes include KEL, TRG, UNITY, LOTCHEM and PIBTL, which formed 29 percent of total volumes.

Stocks that contributed positively include ENGRO (+44 points), HBL (+41 points), UBL (+33 points), PSO (+22 points) and PIBTL (+18 points). Stocks that contributed negatively include PPL (-94 points), MCB (-26 points), OGDC (-22 points), FFC (-10 points) and MTL (-9 points).

KARACHI: The change in key policy rate to be announced by the State Bank of Pakistan (SBP) on May 20 will set the market trend during the next week.

“With monetary policy to be announced in the coming week investors are most likely to have a cautious approach and bearish sentiments may persist,” analysts at Arif Habib Limited said on Saturday.

Given uncertainty in PKR/USD parity, macro-economic concerns and lack of positive triggers we expect the market to trade range bound. However, attractive valuation may revive investor sentiments.

The analysts said that the market continued to bleed this week, commencing on a negative note.

The expectation of positive sentiments upon agreement of IMF Program did not materialize.

Investors remained cautious due to tough measures attached with the program.

However, investors took a sigh of relief mid-week owing to Pakistan’s emerging market status being retained, positive news regarding offshore drilling (final stages) and approval of amnesty scheme by the cabinet.

The momentum, however, was short lived as the Pak Rupee witnessed depreciation against the USD and concerns persisted over a significant rate hike in the upcoming monetary policy statement.

The market shed 1,550 points (down by 4.5 percent) WoW, closing at 33,166 points.

Negative sector-wise contributions came from i) Fertilizers (335 points), ii) Cements (237 points), iii) Commercial Banks (229 points), iv) Oil & Gas Marketing Companies (219 points) and v) Pharmaceuticals (92 points).

Whereas, sectors that contributed positively include i) Oil & Gas Exploration Companies (83 points) and ii) Power Generation (19 points).

Scrip-wise negative contributions came from FFC (161 points), PSO (85 points), ENGRO (80 points) and HBL (76 points). Whereas, positive scrip-wise contributions came from PPL (109 points), HUBC (84 points), and POL (49 points).

Foreign buying continued this week clocking-in at USD 8.2 million compared to a net buy of USD 10.4 million last week. Buying was witnessed in Commercial Banks (USD 8.2 million) and Cement (USD 5.6 million).

On the domestic front, major selling was reported by Mutual Funds (USD 19.1 million) and Insurance Companies (USD 2.4 million). Average Volumes settled at 107 million shares (up by 46 percent WoW) while value traded clocked in at USD 29 million (up by 29 percent WoW).