KARACHI: Pakistan stock market likely to stay range-bound during next week due to fewer days of trading because of Eid holidays.
(more…)Tag: PSX
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Stocks gain 184 points in lackluster trading activity
KARACHI: Pakistan stocks gained 184 points on Thursday amid lackluster trading activity observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,344 points from previous day’s closing of 41,160 points, showing a gain of 184 points.
READ MORE: Pakistan stocks up amid rupee depreciation
Analysts at Topline Securities Research said that lackluster activity was observed at the exchange as the index traded between an intraday high of +237 points and intraday low of -150, to finally close at 41,344 level.
Investor interest was observed in gas distribution companies (SNGP & SSGC) and E&P companies (OGDC & PPL) on news that Petroleum Division has reportedly proposed a massive increase in price of natural gas, which when implemented will stop further increase in gas circular debt.
READ MORE: Pakistan stocks fall on IMF program concerns
Analysts at Arif Habib Limited said that the bulls and bears continued to fight the battle throughout the day ahead of Monetary Policy Committee (MPC).
KSE-100 index opened in the green zone as investors opted for value buying in the E&P sector. Main board volumes remained dull.
Sectors contributing to the performance include E&P (+73.9 points), Fertilizer (+41.3 points), Banks (+25.8 points), OMC’s (+21.0 points) and Technology (+12.0 points).
READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues
Volumes increased from 98.2 million shares to 99.1 million shares (+0.9 per cent DoD). Average traded value also increased by 50.2 per cent to reach US$ 19.4 million as against US$ 12.9 million.
Stocks that contributed significantly to the volumes are LOTCHEM, OGDC, SNGP, PRL and CNERGY.
Traded volume and value for the day stood at 98.5 million shares and Rs.4bn respectively. LOTCHEM was today`s volume leader with 7.3 million shares.
READ MORE: Pakistan may see further 100bps hike in policy rate
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Pakistan stocks up amid rupee depreciation
KARACHI: Pakistan stocks ended with a gain of 57 points on Wednesday despite investors’ concerns of falling rupee value and expected rate hike in upcoming monetary policy.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,160 points from previous day’s close of 41,103 points, showing a gain of 57 points.
READ MORE: Pakistan stocks fall on IMF program concerns
Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed sluggish session.
Investor’s participation continued to remain dry due to concerns regarding rate hike in the upcoming monetary policy and PKR depreciation against the dollar.
READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues
The exchange rate recorded a decline of Rs1.05 in the value of Pakistan Rupee (PKR) to end at Rs207.99 against the dollar from previous day’s closing of Rs206.94 in the interbank foreign exchange market.
The State Bank of Pakistan (SBP) is scheduled to announce monetary policy statement on July 07, 2022. The market consensus believed an increase of 100 basis points to 14.75 per cent in the key policy rate.
READ MORE: Pakistan may see further 100bps hike in policy rate
Main board activity remained dull but decent volumes were recorded in the 3rd tier stocks.
Sectors contributing to the performance include Banks (+35.9 points), Cement (+15.5 points), Technology (13.9 points), Power (+11.7 points) and OMC (+6.7 points).
Volumes increased from 76.9 million shares to 98.2 million shares (+27.8 per cent DoD). Average traded value also increased by 12.2 per cent to reach US$ 12.9 million as against US$ 11.5 million.
Stocks that contributed significantly to the volumes are AGL, UNITY, ANL, LOTCHEM and SNGP.
READ MORE: Weekly Review: stocks to stay positive on improved forex reserves
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Pakistan stocks fall on IMF program concerns
KARACHI: Pakistan stocks fell by 246 points on Tuesday owing to concerns of resumption of IMF program.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,102 points from previous day’s closing of 41,348 points, showing a decline of 246 points.
READ MORE: Pakistan stocks fall on policy rate hike expectations
Analysts at Arif Habib Limited said that the market observed a negative session today as Pak Rupee depreciated against the US dollar.
The rupee fell by Rs2.38 to end at Rs206.94 against the dollar from previous day’s closing of Rs204.56 in the interbank foreign exchange market.
READ MORE: Weekly Review: stocks to stay positive on improved forex reserves
The analysts further said that the investor’s participation stayed lackluster over concerns of resumption of IMF program. Volumes remained dry in the main board whereas decent volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Banks (-80.5 points), Cement (-50.4 points), Fertilizer (-35.9 points), E&P’s (-17.5 points) and Tobacco (-15.6 points).
READ MORE: Pakistan stocks up 89 points in lackluster trading
Volumes decreased from 86.6 million shares to 76.9 million shares (-11.2 per cent DoD). Average traded value also decreased by 21.3 per cent to reach US$ 11.6 million as against US$ 14.7 million.
Stocks that contributed significantly to the volumes are MLCF, WTL, FCCL, PRL and LOTCHEM.
READ MORE: Pakistan stocks up 243 points on positive sentiments
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Pakistan stocks fall on policy rate hike expectations
KARACHI: Pakistan stocks fell by 282 points on Monday owing to concerns over hike in policy rate in the next monetary policy committee meeting.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) declined to 41,348 points from last Friday’s closing of 41,638 points, showing a decline of 282 points.
READ MORE: Weekly Review: stocks to stay positive on improved forex reserves
Analysts at Arif Habib Limited said that the market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy.
“The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking,” they said.
READ MORE: Pakistan stocks up 89 points in lackluster trading
Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.
Sectors contributing to the performance include Fertilizer (-72.6 points), Cement (-60.8 points), E&P (-33.2 points), Automobile Assembler (-18.9 points) and Pharmaceuticals (-12.9 points).
READ MORE: Pakistan stocks up 243 points on positive sentiments
Volumes decreased from 154.0 million shares to 86.6 million shares (-43.8 per cent DoD). Average traded value also decreased by 24.4 per cent to reach US$ 14.9 million as against US$ 19.7 million.
Stocks that contributed significantly to the volumes are SNGP, AGL, PRL, MLCF and WTL.
READ MORE: Pakistan stocks shed 468 points as banking shares fall
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Weekly Review: stocks to stay positive on improved forex reserves
KARACHI: Pakistan stocks likely to move in positive territory due to the $2.3 billion loan from China, which helped the State Bank of Pakistan (SBP) reserves to increase to $10 billion.
Analyst at Arif Habib Limited believed that the market participants will factor in another hike in the benchmark policy rate, especially after the Consumer Price Index (CPI) announcement today.
“Short term jitters cannot be ruled out and the sooner an IMF deal is locked in, the better it will be for the equity bourse,” they added.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
The Chinese aid of $2.3 billion strengthened Rupee against the greenback settling at PKR 204.85 on June 30, 2022. Moreover, Pakistan received a Memorandum of Economic and Financial Policies from IMF, which signalled that the government is inching closer to an agreement with the Fund.
In addition, the National Assembly approved the amendments made in the Finance Bill for 2022 which brought clarity to the market, especially to the banking sector. Furthermore, the IPPs of the 2002 power policy received the second installment of PKR 96 billion.
The benchmark KSE-100 is currently trading at a PER of 4.2x (2022) compared to Asia Pac regional average of 11.6x while offering a dividend yield of 9.2 per cent versus 2.9 per cent offered by the region.
READ MORE: Pakistan stocks crash on super tax imposition
However, the sentiment was adversely affected by the fiscal measures undertaken by the government (including price hike in MS and HSD by PKR 14.85/litre and PKR 13.23/litre, respectively) to solidify ground for approval of the seventh and eighth review.
Moreover, inflation clocked-in at 21.32 per cent for June 22, 2022 and the current account deficit widening to $1.4 billion in May 22, 2022 which dampened the overall sentiment. The market closed at 41,630 points, gaining 579 points (up by 1.41 percent) Week on Week (WoW).
READ MORE: Pakistan stocks rally on Chinese loan facility
Sector-wise positive contributions came from i) Cement (92 points), ii) Power (74 points), iii) E&P (69 points), iv) Fertilizer (68 points) and v) Banks (55 points). Whereas, sectors which contributed negatively were i) Refinery (6 points) and ii) Cable & Electrical Goods (4 points).
Scrip-wise positive contributors were HUBC (83 points), POL (64 points), LUCK (47 points), EFERT (39 points) and MARI (36 points). Meanwhile, scrip-wise negative contribution came from HBL (32 points), EPCL (22 points), OGDC (22 points), KAPCO (13 points) and DAWH (11 points).
READ MORE: Pakistan stocks shed 68 points on rupee depreciation
With the Monetary Policy Committee scheduled to convene on July 07, 2022, the market participants will factor in another hike in the benchmark policy rate, especially after the CPI announcement today.
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Pakistan stocks up 89 points in lackluster trading
KARACHI: Pakistan stocks ended up 89 points on Friday in a lackluster trading during the day.
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Pakistan stocks up 243 points on positive sentiments
KARACHI: Pakistan stocks gained 243 points on Thursday owing to positive sentiments prevailed after passage of finance bill by national assembly.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 41,541 points from previous day’s closing of 41,298 points, showing an increase of 243 points.
READ MORE: Pakistan stocks shed 468 points as banking shares fall
Analysts at Arif Habib Limited said that PSX witnessed a positive session today as PKR continued to extend gains against USD and cut-off yields on 3M & 6M T-bills fell by two basis points and 15 basis points respectively compared to the previous auction.
The benchmark KSE-100 index stayed mostly in the green territory as investors opted for value hunting due to clarity in the finance bill amendment approved by the National Assembly. Volumes continued to remain dull, on the contrary 3rd tier stocks remained in the limelight.
READ MORE: Pakistan stocks shed 113 points on tough conditions
Sectors contributing to the performance include Banks (+111.5 points), E&P’s (+58.8 points), Power (+26.9 points), Technology (+24.9 points) and Cement (23.2 points).
Volumes increased from 142.2 million shares to 192.9 million shares (+35.7 per cent DoD). Average traded value also increased by 26.9 per cent to reach US$ 33.1 million as against US$ 26.1 million.
Stocks that contributed significantly to the volumes are KEL, AGL, FCCL, WTL and PRL.
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Pakistan stocks shed 468 points as banking shares fall
KARACHI: Pakistan stocks on Wednesday lost 468 points due to major selling seen in banking scrips.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,298 points from previous day’s closing of 41,766 points, showing a decline of 468 points.
READ MORE: Pakistan stocks shed 113 points on tough conditions
Analysts at Topline Securities Research said Pakistan equities witnessed a negative day today.
Initially, market opened on a positive note today where the KSE100 index made an intraday high at 41,814. But rumors regarding possible restriction on dividend payment of those banks which want to reclassify their PIB profile triggered selling spree in the banking sector stocks which compelled the benchmark index to see an intraday low at 41,119 (-646 points; down 1.57 per cent).
READ MORE: Pakistan stocks gain 827 points on Chinese funds
However, some value hunting at the aforesaid low index level rescued the KSE100 index and assisted it to eventually settled at 41,298 (-468 points; down 1.12 per cent) for the day.
Banks, Tech and E&P sector stocks contributed negatively to the index where HBL, MCB, SYS, BAHL & MARI lost 269 points, cumulatively.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
On the flip side, COLG, EFERT and SNGP have witnessed some buying interest as they added 22 points collectively, today.
Around 142 million shares traded today at the bourse while total value clocked in at Rs5.3 billion. KEL led the volumes chart today with trading of 14.3 million shares in it, today.
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Pakistan stocks shed 113 points on tough conditions
KARACHI: Pakistan stocks declined by 113 points on Tuesday as tough economic conditions forced the market to trade in range bound trajectory.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,766 points from previous day’s closing of 41,879 points, showing a decline of 113 points.
READ MORE: Pakistan stocks gain 827 points on Chinese funds
Analysts at Topline Securities Research said Pakistan equities closed on a negative note where benchmark KSE-100 Index settled at 41,765 level (down 0.27 per cent).
“Tough economic conditions let the market to trade in range bound trajectory where KSE100 Index traded in a range of 535 points as market make an intraday high of 271 points and a low of 264 points,” the analysts added.
READ MORE: Weekly Review: stocks to respond positively to IMF deal
LUCK, NESTLE and POL were the major gainers in today’s trading session cumulatively added 71 points, where on the flip side FFC, BAHL and PSO were the major decliner cumulatively dented the Index by 77 points.
READ MORE: Pakistan stocks crash on super tax imposition
Around 257 million shares traded today at the bourse while total value clocked in at Rs7.7 billion. KEL was the volume leader of the day with trading of 28 million shares in it, today.