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  • Pakistan stocks fall 290 points on PKR devaluation

    Pakistan stocks fall 290 points on PKR devaluation

    KARACHI: Pakistan stocks have declined by 290 points on Thursday owing to further depreciation in Pakistan Rupee (PKR) against the dollar.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,653 points from previous day’s closing of 45,943, showing a decline of 290 points.

    READ MORE: Stocks slide 390 points on volatile exchange rate

    Analysts at Arif Habib Limited said that the market remained under pressure today due to further devaluation of PKR against the US Dollar and concerns over spikes in Market Treasury Bill yields.

    READ MORE: Dollar ends near PKR 187 in interbank market

    Despite opening in the green zone KSE-100 failed to sustain the positive zone as profit taking was observed. “In the last trading hour rally was witnessed in the refinery sector as PRL announced tremendous financial results beating analyst expectations.”

    Analysts at Topline Securities said that Pakistan equities had a direction less day today where the benchmark KSE 100 index kicked off the day in the green zone, made an intraday high at 46,067 (+124 points; up 0.27 per cent) and low at 45,600 (-343 points; down 0.75 per cent) before settling at 45,653 (-291 points; down 0.63 per cent) for the day.

    READ MORE: Pakistan stocks shed 206 points on profit taking

    During the day, ENGRO announced its 1Q2022 result where EPS clocked at Rs13.84 (-4 per cent YoY while up 67 per cent QoQ). Earnings was above industry expectations. In addition to this, the result also accompanied a dividend of Rs.12 per share. Moreover, above expected refinery sector companies (ATRL & PRL) results lured investors’ interest in both the names as they closed +2.31 per cent & +7.46 per cent, respectively.

    READ MORE: Pakistan stocks shed 62 points on profit taking

    Sectors contributing to the performance include Banks (-61.8 points), E&P (-37.3 points), Fertilizer (-35.3  points), Cement (-34.7 points) and Technology (-32.1  points)

    Volumes decreased from 235.0 million shares to 186.4 million shares (-20.7 per cent DoD). Average traded value also decreased by 29.8 per cent to reach US$ 30.1 million as against US$ 42.8 million.

    READ MORE: Weekly Review: Bullish trend likely to prevail

  • Stocks slide 390 points on volatile exchange rate

    Stocks slide 390 points on volatile exchange rate

    KARACHI: Pakistan stocks have declined by 390 points on Wednesday owing to volatile exchange rate.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 45,943 points from previous day’s close of 46,333 points, showing a decline of 390 points.

    READ MORE: Pakistan stocks shed 206 points on profit taking

    Analysts at Arif Habib Limited said that profit taking continued at PSX today, KSE-100 index opened positive but could not sustain in green zone as profit taking dragged the index down to red zone due to weakening of Pak rupee against US Dollar, the session remained dull whereas hefty volumes were observed in 3rd tier stocks.

    READ MORE: Pakistan stocks shed 62 points on profit taking

    Meanwhile, the analyst at Topline Securities said that Pakistan equities continued its downwards trend where benchmark KSE-100 Index settled at 45,943 level (down 0.84 per cent). “After a slight positive opening, market continued to slid where market make an intraday low of 390 points.”

    READ MORE: Weekly Review: Bullish trend likely to prevail

    Sectors contributing to the performance include Banks (-98.3 points), Cement (-87.5 points), E&P (-67.22 points), Fertilizer (-45.6 points) and Power (-20.7 points)

    Volumes increased from 228.6 million shares to 235.0 million shares (+2.8 per cent DoD). Average traded value decreased by 9.4 per cent to reach US$ 43.1 million as against US$ 47.5 million.

    Stocks that contributed significantly to the volumes are CNERGY, TPLP, GGL, MLCF and TELE.

    READ MORE: KSE-100 index gains 117 points amid positive sentiments

  • Pakistan stocks shed 206 points on profit taking

    Pakistan stocks shed 206 points on profit taking

    KARACHI: Pakistan stocks declined by 206 points on Tuesday as the market witnessed profit taking during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 46,333 points from previous day’s closing of 46,539 points, showing a decline of 206 points.

    READ MORE: Pakistan stocks shed 62 points on profit taking

    Analysts at Arif Habib Limited said that the market witnessed profit taking today, KSE-100 index opened on a positive note but couldn’t sustain in green zone as investor opted for profit selling across the board due to weakening of Pak rupee against US Dollar. Main board activity remained dull but hefty volumes were recorded in 3rd tier stocks.

    READ MORE: Weekly Review: Bullish trend likely to prevail

    Analysts at Topline Securities said that Pakistan equities closed red where benchmark KSE100 Index settled at 46,333 level (down 0.44 per cent). The day kicked off on a positive note where market make an intraday high of 206 points as investors cheered EPCL result announcement and material information’s where the company announced expansions and  its 1Q2022 EPS at Rs5.19 along with DPS of Rs.5 which led the stock to close at its upper cap. However some profit taking has been witnessed in the second half where major laggards were HUBC, PPL, TRG and OGDC cumulatively dented the Index by 134 points.

    READ MORE: KSE-100 index gains 117 points amid positive sentiments

    Sectors contributing to the performance include Banks (-89.2 points), E&P’s (-72.0 points), Technology (-51.0 points), Power (-42.6 points) and Cement (-37.2 points).

    Volumes decreased from 255.6 million shares to 228.6 million shares (-10.6 per cent DoD). Average traded value also decreased by 8.4 per cent to reach US$ 47.9 million as against US$ 52.3 million.

    Stocks that contributed significantly to the volumes are CENERGY, GGL, WTL, TELE and LOTCHEM.

    READ MORE: Pakistan stocks rally on PKR stability

  • Pakistan stocks shed 62 points on profit taking

    Pakistan stocks shed 62 points on profit taking

    KARACHI: Pakistan stocks fell by 62 points on Monday owing to profit taking witnessed during the trading.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,541 points from last Friday’s closing of 46,602 points, showing a decline of 62 points.

    READ MORE: Weekly Review: Bullish trend likely to prevail

    Analysts at Topline Securities said that Pakistan equities commenced the week on a positive note led by Oil & Gas Exploration sector on the backdrop of rally in global oil prices and market chatter of one time heavy dividend in the OGDC and PPL stocks.

    The benchmark KSE-100 index kicked off the day in the green zone and made an intraday high at 46,970 (+369 points; up 0.79 per cent).

    READ MORE: KSE-100 index gains 117 points amid positive sentiments

    But, at the aforesaid level profit taking took place which pushed market towards the intraday low at 46,419 (-183 points; down 0.39 per cent) before settling at 46,540 (-62 points; down 0.13 per cent) for the day.

    E&P, Fertilizer and Power sector’s stocks contributed positively today to the benchmark index where OGDC, PPL, FFC, HUBC & POL added 261 points, cumulatively.

    READ MORE: Pakistan stocks rally on PKR stability

    On the flip side, SYS, EPCL, LUCK & UBL have seen some profit taking as they lost 98 points collectively, today.

    About 255 million shares traded today at the bourse while total value clocked in at Rs. 9.6 billion. GTECH was the volume leader of the day with the trading of 21.1 million shares in it, today.

    READ MORE: Pakistan stocks slide 242 points in profit taking

  • Weekly Review: Bullish trend likely to prevail

    Weekly Review: Bullish trend likely to prevail

    KARACHI: Bullish trend likely to prevail in the stock market during next week owing to clarity on the political front.

    Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week.

    READ MORE: KSE-100 index gains 117 points amid positive sentiments

    With commencement of the result season and clarity on the political front, certain sectors and scrips are expected to stay under limelight.

    Furthermore, the rollover of Chinese loans worth USD 2.3 billion and IMF negotiations, which will help bolster foreign exchange reserves.

    While any dip in oil prices should also have a positive impact on the equity bourse.

    READ MORE: Pakistan stocks rally on PKR stability

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.0x (2022) compared to Asia Pacific regional average of 11.5x while offering a dividend yield of 8.3 per cent versus 2.6 per cent offered by the region.

    In the outgoing week the market roared back after political clarity emerged. Following Prime Minister Shehbaz Sharif’s oath taking ceremony, the new coalition government has begun work to tackle the economy.

    Moreover, the rupee recovered against the dollar at a rapid pace closing at 181.4, marking a 3.6 per cent appreciation.

    READ MORE: Pakistan stocks slide 242 points in profit taking

    Additionally, the country received record high remittances this month clocking in at $2.8 billion, showing a 28 per cent increase MoM, on account of Ramadan / Eid.

    Although, there was a slight correction mid-week, the market sustained momentum and posted its highest WoW increase since 3rd April 2020. The bourse closed at 46,602 points, (up by 4.9 per cent) WoW.

    Sector-wise positive contributions came from i) Commercial Banks (395 points), ii) Fertilizer (292 points), iii) Technology & Communication (268 points), iv) Cement (241 points), and v) Refinery (129 points).

    Whereas, sectors which contributed negatively i) Real Estate Investment Trust (2.19 points), ii) Vanaspati & Allied Industries (1.55 points). Scrip-wise positive contribution came from ENGRO (152 points), TRG (136 points), MEBL (122 points), HBL (85 points), and SYS (80 points).

    READ MORE: Stocks gain 262 points on political stability

    Meanwhile, scrip-wise negative contributors were COLG (14 points), FABL (10.88 points), Fatima (4.74 points), ABL (3.18 points) and DCR (2.19 points).

    Foreign buying witnessed this week, clocking-in at USD 1.29 million compared to a net sell of USD 3.78 million last week. Major buying was witnessed in Technology (USD 2.21 million) and Fertilizer (USD 1.16 million).

    On the local front, Selling was reported by Mutual Funds (USD 9.89 million) followed by Insurance Companies (USD 7.76 million). Average volumes clocked-in at 477 million shares (up by 213 per cent WoW) while average value traded settled at USD 66.3 million (up by 135.6 per cent WoW).

    READ MORE: Stocks up 1700 points, highest ever single day gain

  • KSE-100 index gains 117 points amid positive sentiments

    KSE-100 index gains 117 points amid positive sentiments

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 117 points on Friday amid positive sentiment prevailed during the day.

    The KSE-100 index closed at 46,601 points from previous day’s closing of 46,484 points, up by 117.11 points.

    READ MORE: Pakistan stocks rally on PKR stability

    Analysts at Arif Habib Limited said that market stayed in the green zone throughout the day. KSE-100 index opened in the positive zone. Sensitive Price Indicator (SPI) for the week ended April 14,-2022 recorded a decrease of 0.68 per cent week on week while up by 16.44 per cent YoY basis.

    Moreover, LSMI output increased by 7.8 per cent YoY during 8MFY22. Main board activity remained dull but hefty volumes were recorded in the 3rd tier stocks.

    READ MORE: Pakistan stocks slide 242 points in profit taking

    In the last trading hour, profit taking was witnessed specially in the refinery sector.

    Sectors contributing to the performance include Fertilizer (45.7 points), Banks (+37.9 points), E&P’s (+22.3  points), Inv. Banks (+14.7 points) and Refinery (+11.6  points).

    READ MORE: Stocks gain 262 points on political stability

    Volumes decreased from 494.9 million shares to 365.8 million shares (-26.1 per cent DoD). Average traded value also decreased by 21.8 per cent to reach US$ 50.3 million as against US$ 64.2 million.

    Stocks that contributed significantly to the volumes are CNERGY, WTL, GGL, PRL, and MLCF.

    READ MORE: Stocks up 1700 points, highest ever single day gain

  • Pakistan stocks rally on PKR stability

    Pakistan stocks rally on PKR stability

    KARACHI: Pakistan stocks rallied on Thursday owing to to stability in Pakistan Rupee (PKR) against the dollar.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,484 points from last day’s closing of 46,165 points, up by 319 points.

    READ MORE: Pakistan stocks slide 242 points in profit taking

    Analysts at Arif Habib Limited said that positive session was observed at PSX today due to stability in Pak rupee against dollar.

    Rally was witnessed in refinery sector due to expectation of tremendous earnings in the upcoming financial result.

    Main board activity remained dull whereas hefty buying was witnessed in the 3rd tier stocks.

    READ MORE: Stocks gain 262 points on political stability

    Across the board buying was observed in the last trading hour which led the market to close in the green zone.

    Analysts at Topline Securities said that Pakistan equities closed on a green note where benchmark KSE-100 Index settled at 46,484 (up 0.69 per cent).

    During the day, range-bound activity witnessed in the first half however market pick up momentum where KSE-100 index made an intraday high of 344 points. Investors interest mostly witnessed in Fertilizers, Refinery and Cement sector where ENGRO, ATRL, MLCF closed higher.

    READ MORE: Stocks up 1700 points, highest ever single day gain

    Sectors contributing to the performance include Fertilizer (76.2 points), Cement (+58.8 points), Chemicals (+37.9 points), Refinery (+23.3 points) and Inv. Banks (+18.0 points)

    Volumes increased from 474.6 million shares to 494.9 million shares (+4.3 per cent DoD). Average traded value decreased by 5.4 per cent to reach US$ 64.3 million as against US$ 68.0 million.

    Stocks that contributed significantly to the volumes are CNERGY, WTL, FLYING, TELE and MLCF.

    READ MORE: Weekly Review: stock market likely trade in green

  • Pakistan stocks slide 242 points in profit taking

    Pakistan stocks slide 242 points in profit taking

    KARACHI: Pakistan Stocks fell by 242 points on Wednesday as investors opted for profit taking during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,165 points from previous day’s closing of 46,407 points, showing an increase of 242 points.

    READ MORE: Stocks gain 262 points on political stability

    Analysts at Arif Habib Limited said that volatile session was observed at PSX today.

    Market opened on a bleak note but value buying was witnessed in the first trading hour.

    Main board activity remained dull but market witnessed hefty volumes in the 3rd tier stocks.

    In the last trading hour, investor opted for profit taking across the board which led the index to close in red zone.

    READ MORE: Stocks up 1700 points, highest ever single day gain

    Analysts at Topline Securities said that Pakistan equities closed on a negative note where benchmark KSE100 Index settled at 46,166 level (down 0.52 per cent).

    Market witnessed a range bound trading session where market make an intraday high of 235 points and low of 344 points. Profit taking has been witnessed across the board where major decliner were Cements, Banks and Technology sectors, as LUCK, UBL, MLCF , and TRG closed lower.

    READ MORE: Weekly Review: stock market likely trade in green

    Sectors contributing to the performance include Cement (-93.0 points), Banks (-62.9 points), Inv. Banks (-15.7 points), Engineering (-15.5 points) and Textile (-15.5 points)

    Volumes decreased from 493.6 million shares to 474.6 million shares (-3.9 per cent DoD). Average traded value also decreased by 10.9 per cent to reach US$ 67.9 million as against US$ 76.2 million.

    Stocks that contributed significantly to the volumes are Flying, WTL, GGL, TELE and TPLP.

    READ MORE: Stocks jump up 658 points on Supreme Court decision

  • Supernet scrip receives overwhelming response

    Supernet scrip receives overwhelming response

    KARACHI: Supernet Limited, the first IT company to be listed at GEM Board of PSX, has received overwhelming response by investors on first day of its book building on April 12, 2022. The book buying is continued on April 13, 2022 (today) too.

    With an oversubscription of 1.99% on first day of its book building, Supernet received total bids of 21,530,720 shares against an offer of 21,111,121 shares, over subscription by 1.99% or 419,599 shares on Day 1.

    READ MORE: Supernet awarded Shariah screening certificate

    The first ever GEM Board listing of an IT company received an overwhelming response from institutional investors and high-net worth individuals.

    Supernet has a target to raise betwen 475 million to 666 million through listing at GEM Board of PSX.

    READ MORE: Supernet set to raise Rs475 million through initial offering

    Apart from local investors, foreign financial institutions also took keen interest in the initial offering of first IT company on GEM Board of PSX.

    The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

    The entire issue was offered through Book Building on April 12-13 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    Recently, Supernet Group is aggressively expanding into Cyber Security, Power Solution and IT & Infrastructure Solutions business. The proceeds from listing will be utilized to finance the expansion plan.

    For expansion into new business segments, SNL has set up two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited . Another subsidiary, Phoenix Global (Supernet Global Solutions), is a UAE based company that offers a wide range of IT & Communication solutions to its international clients. Supernet’s clientele include major banks, mobile operators, leading MNCs, government and defence institutions, etc.

    READ MORE: Supernet, Avara awarded project for supply, maintenance

  • Stocks gain 262 points on political stability

    Stocks gain 262 points on political stability

    KARACHI: Pakistan stocks gained 262 points on Tuesday owing to political stability and appreciation in rupee against the dollar.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,407 points from previous day’s closing of 46,145 points, up by 262 points.

    READ MORE: Stocks up 1700 points, highest ever single day gain

    Analysts at Arif Habib Limited said that another positive session witnessed today due to political stability and appreciation of Pak Rupee against US Dollar.

    Across the board rally was witnessed regardless of foreign selling spree, main board activity remained healthy. Moreover, market even witnessed hefty volumes in the 3rd tier stocks.

    READ MORE: Weekly Review: stock market likely trade in green

    Sectors contributing to the performance include Technology (+96.7 points), Cement (+55.7 points), Banks (+52.2 points), Engineering (+24.9 points) and Refinery (+20.0 points).

    READ MORE: Stocks jump up 658 points on Supreme Court decision

    Volumes decreased from 557.7 million shares to 493.6 million shares (-11.5 per cent DoD). Average traded value increased by 3.7 per cent to reach US$ 76.1 million as against US$ 73.4 million.

    Stocks that contributed significantly to the volumes are WTL, TELE, FLYING, CNERGY and UNITY.

    READ MORE: Pakistan stocks shed 324 points on political uncertainty