Tag: Pakistan Stock Exchange

KARACHI: The equity market ended with gain of 208 points on Thursday in a narrow band trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,787 points as against 36,579 points showing an increase of 208 points.

Analysts at Arif Habib Limited said that the market traded in a narrow band today, although tilted towards positive, but oscillated between -80 points and +331 points during the session.

Highlight of today’s session remained Cement Sector, which saw trading volumes of 38M (contributed by FCCL, MLCF & DCL) and contributed negatively to the points table.

Selling pressure was observed in the Cement sector, whereby MLCF saw several touchdowns on lower circuit, but otherwise DGKC and LUCK saw considerable buying activity. E&P, Refinery, Banks and Engineering sector performed positive today.

Sectors contributing to the performance include Banks (+48 points), E&P (+46 points), O&GMCs (+36 points), Power (+24 points), Fertilizer (+20 points) and Cement (-20 points).

Volumes increased from 141.2 million shares to 143.8 million shares (+2 percent DoD). Average traded value also increased by 7 percent to reach US$ 31.2 million as against US$ 29.1 million.

Stocks that contributed significantly to the volumes include TRG, FCCL, MLCF, KEL and WTL, which formed 39 percent of total volumes.

Stocks that contributed positively include OGDC (+29 points), PSO (+24 points), HUBC (+22 points), LUCK (+22 points), and HBL (+14 points). Stocks that contributed negatively include DGKC (-13 points), FCCL (-9 points), MLCF (-9 points), HASCOL (-5 points) and CHCC (-5 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) plunged to 33-month low on Wednesday due to downward revision in growth forecast by IMF for Pakistan.

Analysts at Topline Securities said that KSE 100 index closed at 36,579 index level (-551 point or 1.5 percent) which is a 33-month low. Downward revision in growth forecast by IMF and pressure on cement stocks amid cut in cement bag prices led to selling pressure in the market.

As per IMF, Pakistan’s economy will grow at an average rate 2.5 percent during the next five years and its external imbalance will remain elevated; growth rate of 2.5 percent is the lowest economic growth rate predicted by any multilateral lender.

Cement sector continued its weak performance eroding 109 points from index.

Traded volume was down 12 percent to 141 million shares whereas trade value was down 30 percent to US$29.1 million.

KARACHI: The equity market recovered 208 points on Tuesday due to buying activities in blue chips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,130 points as against 36,922 points showing an increase of 208 points.

Analysts at Arif Habib Limited said that the market showed some signs of recovery today, particularly in blue chips which touched a low again today but saw buying activity, which pulled the index up.

Cement stocks such as LUCK, DGKC showed some resilience and closed well above day’s low.

MLCF on the contrary showed major activity on lower circuit and closed at that level.

Cement sector led the volumes with 40 million shares contributed mainly by MLCF (15.6 million).

Sectors contributing to the performance include Power (+84 points), Banks (+56 points), O&GMCs (+38 points), Pharma (+20 points), E&P (+16 points), Cement (-61 points).

Volumes increased significantly from 106.9 million shares to 160.5 million shares (+50 percent DoD). Average traded value also increased by 45 percent to reach US$ 41.7 million as against US$ 28.8 million.

Stocks that contributed significantly to the volumes include UNITYR1, MLCF, FCCL, KEL and WTL, which formed 37 percent of total volumes.

Stocks that contributed positively include HUBC (+61 points), UBL (+37 points), PSO (+23 points), NBP (+19 points), and ENGRO (+17 points). Stocks that contributed negatively include LUCK (-25 points), HBL (-16 points), FFC (-13 points), FCCL (-11 points) and DAWH (-11 points).

KARACHI: The equity market plunged by 600 points on Monday owing to reports of possible border confrontation between Pakistan and India.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,922 points as against 37,522 points showing a decline of 600 points.

Analysts at Arif Habib Limited said that negative news flow over the weekend, especially possible border confrontation between Pakistan and India, as highlighted by Foreign Minister, in addition to macro-economic woes added to deficit of Investor confidence.

The index slid by 783 points during the session and closed 600 points down.

Cement blue chips hit lower circuits, especially LUCK, DGKC and MLCF that contributed to decline in KSE100. Cement Sector topped volumes table with 20 million shares, followed by Power and Banks. Among Scrips, KEL registered highest traded volume of 10.9 million shares followed by FCCL (9.5 million).

Sectors contributing to the performance include Cement (-120 points), Banks (-79 points), Fertilizer (-59 points), O&GMCs (-59 points), E&P (-58 points).

Volumes increased slightly from 101.7 million shares to 106.9 million shares (+5 percent DoD). Average traded value also increased by 9 percent to reach US$ 28.9 million as against US$ 26.6 million.

Stocks that contributed significantly to the volumes include KEL, FCCL, UNITYR1, BOP and MLCF, which formed 38 percent of total volumes.

Stocks that contributed positively include HUBC (+17 points), HBL (+10 points), NESTLE (+9 points), FABL (+6 points), and IGIHL (+3 points). Stocks that contributed negatively include LUCK (-56 points), ENGRO (-26 points), MCB (-24 points), SEARL (-22 points) and PSO (-22 points).

KARACHI: The equity market likely to stay positive in coming weeks as the expected staff level meeting of IMF is scheduled in April 2019.

Analysts at Arif Habib Limited said that this will revive the market sentiment.

Moreover, interest rate is expected to peak following another 50 basis points hike in May 2019; which will bring clarity to the investors.

On the currency front, the analysts expect the Pak Rupee to settle at 147/USD by June 2019.

Moreover, result of offshore drilling at Indus offshore block G ‘Kekra-1’ is also expected within six weeks, where materialization of oil / gas discovery will drive the market in general and OGDC and PPL in particular.

The analysts said that this week trading commenced on a negative note despite China depositing USD 2.2 billion to support the balance of payments position and depleting foreign exchange reserves which crossed the USD 17 billion mark.

Market activity remained depressed on the back of i) 50bps increase in policy rate augmenting pressure on leveraged industries, ii) higher than expected inflationary readings; at 9.41 percent YoY in March 2019 (5-year high), iii) continuous depreciation of PKR against the Greenback, iv) delay in finalisation of the IMF program which is now expected by May, and v) projected slowdown by the Asian Development Bank of Pakistan’s GDP to 3.9 percent.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at CY19’s lowest level of 37,522 points, down by 1,128 points or 2.92 percent WoW.

Contribution to the downside was led by i) Commercial Banks (-383 points) due to foreign selling, ii) Fertilizer (-134 points) amid announcement of 100,000 tons of urea import, iii) Oil and Gas Marketing Companies (-35 points) on account of slowdown in petroleum off-take by 17 percent YoY in Mar’19, iv) Pharmaceuticals (-92 points), and v) Power Generation and Distribution (-67 points). Scrip wise major losers were HBL (-122 points), UBL (-71 points), PPL (-58 points), ENGRO (-51 points), and PSO (-47 points). While the only sector that contributed positively to the index was Miscellaneous (+57 points).

Foreign selling witnessed this week clocked in at USD 3.7 million compared to a net buy of USD 0.5 million last week.

Major selling was witnessed in Fertilizer (USD 1.6 million) and Power Generation (USD 1.6 million).

On the local front, buying was reported by Individuals (USD 5.5 million) followed by Banks / DFIs (USD 4.7 million).

That said, average daily volumes for the outgoing week were down by 7.5 percent to 118.7 million shares likewise value traded declined by 20.4 percent to USD 24.9 million.

The Pakistan stock market witnessed a subdued trading session on Friday as investors showed a lack of interest in blue-chip stocks.

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KARACHI: The equity market declined by 507 points on Thursday due to selling pressure.

The benchmark KSE-100 index closed at 37,516 points as against 38,023 points showing a decline of 507 points.

Analysts at Arif Habib Limited said that the market took a nose-dive today with 100 index touching a low of 610 points and closed heavy red.

Selling was seen across the board amidst rumors of resignation of key government official and change of parliamentary form of government to Presidential format.

Initial start saw some positivity, however, selling pressure built throughout the day and stocks like Autos which performed well on the news of revocation of 10 percent FED on 1700cc and above vehicles couldn’t face the tide and eventually saw erosion of price gains made earlier.

UNITY rights (37.5 million) again contributed significantly to the traded volume 128 million, which was followed by Banks and Technology stocks.

Sectors contributing to the performance include Banks (-92 points), E&P (-72 points), Power (-66 points), Cement (-50 points), O&GMCs (-35 points).

Volumes declined from 153.3 million shares to 128.0 million shares (-17 percent DoD). Average traded value also declined by 9 percent to reach US$ 23.8 million as against US$ 26.3 million.

Stocks that contributed significantly to the volumes include UNITYR1, WTL, KEL, BOP and MLCF, which formed 56 percent of total volumes.

Stocks that contributed positively include MCB (+20 points), FFBL (+9 points), MEBL (+7 points), SRVI (+3 points), and APL (+3 points). Stocks that contributed negatively include HUBC (-53 points), UBL (-38 points), PPL (-25 points), HBL (-22 points) and ENGRO (-22 points).

The Pakistan Stock Exchange (PSX) witnessed a modest decline on Wednesday, with the benchmark KSE-100 index closing down by 13 points, ending the day at 38,023 points compared to the previous session.

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