Tag: PSX

KARACHI: The stock market likely to trade in green during the next week owing to a clarity has emerged on the political front.

Analysts at Arif Habib Limited said that the stock market to show strong signs of a comeback in the upcoming week.

Moreover, it is likely that the rollover of Chinese loans worth $2.3 billion is on cards, which will conserve the falling reserves.

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

Furthermore, dip in international oil prices amid demand slowdown from China and emergency crude stockpile releases by International Energy Agency is likely to shift the bourse to the green zone.

The benchmark KSE-100 is currently trading at a PER of 4.7x (2022) compared to Asia Pacific regional average of 11.5x while offering a dividend yield of 8.8 per cent versus 2.7 per cent offered by the region.

In the outgoing week the market opened to a blood bath session, shedding 1,250 points on the back of surprising dismissal of no confidence motion by the National Assembly deputy speaker followed by dissolution of the National Assembly.

READ MORE: Pakistan stocks shed 324 points on political uncertainty

Moreover, rupee depreciated to its all-time low of 188/USD amid sliding foreign exchange reserves and the ongoing political uncertainty.

This necessitated a massive policy rate hike (+250bps) to 12.25 per cent by the State Bank of Pakistan (SBP) in an emergency Monetary Policy Committee (MPC) meeting.

Albeit, the bourse welcomed a steep revival of investor’s confidence, given the clarity obtained through Supreme Court’s much awaited judgment rejecting the speakers’ dismissal of the vote, together with decreasing oil prices further adding to the gains. The bourse closed at 44,445 points, (down by 1.56 per cent) WoW.

READ MORE: Stocks gain 183 points despite political uncertainty

Sector-wise negative contributions came from i) Cement (314 points), ii) Oil & Gas Exploration (89 points), iii) Power Generation & Distribution (80 points), iv) Engineering (65 points), and v) Food & Personal Care Products (60 points).

Whereas, sectors which contributed positively were i) Chemicals (70 points), ii) Fertilizer (63 points), iii) Cable & Electrical Goods (5 points), iv) Inv. Banks/Inv. Cos./Securities Cos. (4 points), and v) Real Estate Investment Trust (2 points).  Scrip-wise negative contributors were LUCK (145 points), HUBC (60 points), TRG (48 points), DGKC (46 points) and OGDC (45 points). Meanwhile, scrip-wise positive contribution came from EPCL (55 points), SYS (26 points), EFERT (24 points), MEBL (22 points), and MCB (19 points).

READ MORE: Pakistan stocks end up amid volatile trading

Foreign selling continued this week, clocking-in at USD 3.78 million compared to a net sell of USD 15.55 million last week. Major selling was witnessed in Commercial Banks (USD 3.8 million) and Cement (USD 1.4 million). On the local front, buying was reported by Individuals (USD 14.8 million) followed by Banks/DFI’s (USD 4.7 million).

Average volumes clocked-in at 153 million shares (down by 51 per cent WoW) while average value traded settled at USD 26 million (down by 42 per cent WoW).

KARACHI: Pakistan stocks gained 658 points on Friday following an order passed by the Supreme Court of Pakistan to declare the ruling of deputy speaker as illegal.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 44,448 points as compared with previous day’s closing of 43,787 points, up by 658 points.

READ MORE: Pakistan stocks shed 324 points on political uncertainty

Analysts at Arif Habib Limited said that PSX witnessed a bullish momentum today due to prolong awaited decision from the Supreme Court announced last night created clarity among investors.

Moreover, appreciation of Pak rupee against US Dollar was even a big relief to investors. In the first trading hour, rally was witnessed in the Banking, E&P and Refinery sectors.

Steel sector remained under pressure due to recent hike in interest rates. In the last trading hour, buying activity was observed across the board.

READ MORE: Stocks gain 183 points despite political uncertainty

Analysts at Topline Securities said that bull session was observed at the exchange as the index gained 1.5 per cent to close at 44,445 level.

This positivity in market can be attributed to Supreme Court decision which put an end to political crisis to a large extend and rally in banking sector on account of 250 bps hike in policy rate by SBP to 12.25 per cent in an emergency Monetary Policy meeting yesterday.

READ MORE: Pakistan stocks end up amid volatile trading

Sectors contributing to the performance include Banks (+328.1 points), E&P’s (+80.5 points), Cement (+52.1 points), Technology (+33.6  points) and Fertilizer (+30.5 points).

Volumes increased from 141.0 million shares to 227.9 million shares (+61.6 per cent DoD). Average traded value also increased by 36.2 per cent to reach US$ 36.7 million as against US$ 27.0 million.

Stock that contributed significantly to the volumes are TELE, GGL, TREET, CNERGY and TPLP.

READ MORE: Stocks plunge 1,250 points on no-trust move rejection

KARACHI: Pakistan stocks fell by 324 points on Thursday owing to political uncertainty and rupee devaluation.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,784 points from previous day’s closing of Rs44.110 points.

READ MORE: Stocks gain 183 points despite political uncertainty

Analysts at Arif Habib Limited said that another volatile day observed at PSX today, KSE-100 index opened positive but was unable to digest green zone due to ongoing political unrest, rising T-bill auction yields and Pak rupee devaluation against US Dollar.

Cement sector stayed under pressure throughout the day.

READ MORE: Pakistan stocks end up amid volatile trading

Across the board profit selling was witnessed in the last trading hour which led the index to close in red zone.

Analysts at Topline Securities said that Pakistan equities witnessed a mix trend today where the KSE 100 index opened on a positive note, made an intraday high at 44,350 (+239 points; up 0.54 per cent) & intraday low at 43,752 (-359 points; down 0.81 per cent) before settling at 43,786 (-327 points; down 0.74 per cent) for the day.

During the trading hours, investors opted to remain sideline as all eyes are now on the Supreme Court’s decision regarding the National Assembly’s Speaker ruling against “Vote of No Confidence”.

READ MORE: Stocks plunge 1,250 points on no-trust move rejection

Sectors contributing to the performance include Banks (-105.4 points), Cement (-54.6 points), Power (-32.6 points), E&P’s (-31.1 points) and Engineering (-30.8 points).

Volumes increased from 108.1 million shares to 141.0 million shares (+30.1 per cent DoD). Average traded value also increased by 16.6 per cent to reach US$ 26.5 million as against US$ 22.7 million.

Stock that contributed significantly to the volumes are GGL, PAEL, KEL, TELE and GGGL.

READ MORE: Weekly Review: market to relax after no-confidence vote

KARACHI: Pakistan stocks gained 183 points on Wednesday despite political uncertainty and devaluation of Pakistani rupee (PKR) against the dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 44,111 points from previous day’s closing of 43,928 points, showing an increase of 183 points.

READ MORE: Pakistan stocks end up amid volatile trading

Analysts at Topline Securities said that Pakistan equities closed green where benchmark KSE-100 Index settled at 44,111 level. “Despite political uncertainty and unstable economic conditions market open on a positive note where market make an intraday high of 449 points,” they added.

The analysts at Arif Habib Limited said that positive day observed at PSX, KSE-100 index remained in green zone throughout the day, activity remained sideways due to political unrest and devaluation of PKR against US Dollar.

READ MORE: Stocks plunge 1,250 points on no-trust move rejection

Value buying were observed in fertilizer sector. In the last trading hour, across the board profit taking was witnessed.

Sectors contributing to the performance include Fertilizer (+64.4 points), Banks (+36.0 points), Technology & Communications (+30.8 points), Power (+28.7  points) and Investment Banks (+25.3 points).

READ MORE: Weekly Review: market to relax after no-confidence vote

Volumes decreased from 115.6 million shares to 108.4 million shares (-6.3 per cent DoD). Average traded value also decreased by 6.9 per cent to reach US$ 22.9 million as against US$ 24.6 million.

Stocks that contributed significantly to the volumes are TREET, TELE, EPCL, KEL and GGL.

READ MORE: Pakistan stocks gain 223 points amid volatile trading

KARACHI: Pakistan stocks ended slightly up on Tuesday amid volatile trading observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 43,928 points from previous day’s closing of 43,902 points, showing an increase of 26 points.

READ MORE: Stocks plunge 1,250 points on no-trust move rejection

Analysts at Arif Habib Limited said that another volatile day observed at PSX as index opened in the negative zone due to political unrest and devaluation of PKR against US Dollar.

During the second hour of trading, value buying was observed which led the KSE-100 index to stay in the positive zone as rally was witnessed in the cements and fertilizer sector. In the last trading hour, across the board profit taking was witnessed.

READ MORE: Weekly Review: market to relax after no-confidence vote

Analysts at Topline Securities said that Pakistan equities closed on a slight positive note where benchmark KSE-100 Index settled at 43,928 level (up 0.06 per cent).

Range bound activity has been witnessed over uncertain political conditions led the market to make an intraday high of 387 points however this positivity did not sustained and profit taking has been witnessed in the second half.

READ MORE: Pakistan stocks gain 223 points amid volatile trading

Sectors contributing to the performance include Banks (+49.9 points), Chemicals (+41.6 points), Fertilizer (+30.8 points), Technology (+10.7 points) and Investment Banks (+9.5 points).

Volumes decreased from 170.5 million shares to 115.6 million shares (-32.2 per cent DoD). Average traded value also decreased 16.6 per cent to reach US$ 24.7 million as against US$ 29.7 million.

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

READ MORE: Pakistan stocks gain 591 points amid political unrest

KARACHI: Pakistan stocks plunged by 1,250 points on Monday after a no-confidence motion against the prime minister was rejected by deputy speaker a day earlier.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,902 points from last Friday’s closing of 45,152 points, down by 1,250 points.

READ MORE: Weekly Review: market to relax after no-confidence vote

Analysts at Topline Securities said that the equities witnessed a selling spree today on the backdrop of Political Drama took place yesterday in the National Assembly where the motion of “Vote of No-Confidence” dismissed by the Speaker and subsequent dissolution of Assemblies by Prime Minister dented investors’ confidence regarding the continuation of current economic measures.

The KSE-100 index initially opened on a negative note, stayed in a red zone throughout the day and closed at 43,902 (-1,250 points; down 2.77 per cent) for the day.

READ MORE: Pakistan stocks gain 223 points amid volatile trading

During the trading hours, investors opted to offload their positions in the environment of higher uncertainty with regards to country’s political setup going forward.

Analysts at Arif Habib Limited said that the KSE-100 Index experienced a blood bath session throughout the day due to political unrest. A significant decline was observed in the volumes of the market as well. Across the board selling was witnessed. Main board volumes remained subdued. On the flip side, hefty volumes were recorded in the 3rd tier stocks.

READ MORE: Pakistan stocks gain 591 points amid political unrest

Cements, Banks, Tech and OMC sector’s stocks contributed negatively today to the benchmark index where LUCK, HBL, TRG, PSO & MEBL lost 367 points, cumulatively. On the flip side, COLG, HIGHNOON & ATLH have seen some buying interest today as they added 34 points collectively, today.

About 169.7 million shares traded on Monday at the bourse while total value clocked in at Rs. 5.4 billion. TELE was the volume leader of the day with the trading of 17.3 million shares in it, today.

READ MORE: Pakistan equities shed 101 points on political uncertainty

KARACHI: The stock market likely to take sigh of relief after vote of no-confidence against the prime minister, scheduled for April 3, 2022.

Analysts at Arif Habib Limited said that political noise is expected to be pushed back after the vote of no-confidence against Prime Minister Imran Khan on Sunday.

READ MORE: Pakistan stocks gain 223 points amid volatile trading

Moreover, with Ukraine-Russia peace talks in progress, commodity prices are expected to further decline.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.9x (2022) compared to Asia Pacific regional average of 12.3x while offering a dividend yield of 8.4 per cent versus 2.5 per cent offered by the region.

The market witnessed an eventful week as both, the incumbent government and opposition tried to gather allies amid vote of no-confidence motion against PM Khan in the National Assembly.

READ MORE: Pakistan stocks gain 591 points amid political unrest

“We believe the market has largely digested the aforementioned which, coupled with decline in international oil and coal prices (which garnered interest in the cement sector) brought back the bulls, as concerns over inflation have ceded,” they said.

Although some shuffling in support by minority parties in the mid-week added pressure, the market closed at 45,152 points, witnessing a noteworthy jump of 1,601 points (up by 3.7 per cent) WoW. To highlight, this is the highest weekly return of the local bourse since July 31, 2020.

READ MORE: Pakistan equities shed 101 points on political uncertainty

Sector-wise positive contributions came from i) Cement (266 points), ii) Commercial Banks (241 points), iii) Technology & Communication (182 points), iv) Fertilizer (152 points), and v) Power Generation and Distribution (111 points).

Whereas, sectors which contributed negatively were i) Leather & Tanneries (9 points) and ii) Leasing Companies (1 points). Scrip-wise positive contributors were SYS (129 points), LUCK (129 points), MTL (69 points), HUBC (68 points) and ENGRO (57 points). Meanwhile, scrip-wise negative contribution came from COLG (16 points), SRVI (9 points) and EFERT (6 points).

READ MORE: Pakistan stocks gain 505 points amid buying activity

Foreign selling continued this week, clocking-in at USD 15.55 million compared to a net sell of USD 4.12 million last week. Major selling was witnessed in Commercial Banks (USD 13.7 million) and Fertilizer (USD 0.6 million).

 On the local front, buying was reported by Banks/DFI’s (USD 15.7 million) followed by Individuals (USD 7.5 million). Average volumes clocked-in at 310 million shares (up by 116 per cent WoW) while average value traded settled at USD 44 million (up by 72 per cent WoW).

READ MORE: Equities gain 382 points amid easing political tensions

KARACHI: Pakistan stocks gained 223 points on Friday amid volatile trading owing to political unrest and depreciation of Pakistan Rupee (PKR).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,152 points from previous day’s closing of 44,929 points, up by 223 points.

READ MORE: Pakistan stocks gain 591 points amid political unrest

Analysts at Arif Habib Limited said that the index opened in the red territory due to political unrest and further PKR devaluation against dollar.

Market remained volatile throughout the day. However, rally in UBL and MCB was witnessed due to expectation of foreign selling spree in banking sector getting over.

READ MORE: Pakistan equities shed 101 points on political uncertainty

Cement sector remained in the limelight due to decline in international coal prices. In the second session, value buying was witnessed which led the index to close in the green zone.

Analysts at Topline Securities said that KSE-100 Index opened on a negative note but soon came into positive zone as the day progressed, where the index gained to close at 45,152 level.

READ MORE: Pakistan stocks gain 505 points amid buying activity

This positivity in market can be attributed to no confidence voting against Prime Minister on Sunday in parliament, where investors expect ambiguity to end on political front post this event.

Sectors contributing to the performance include Banks (+125.7 points), Technology (+34.1 points), Fertilizer (+31.96 points), Auto Assemblers (+28.3 points) and Textile (+14.2 points).

READ MORE: Equities gain 382 points amid easing political tensions

Volumes decreased from 415.6 million shares to 389.1 million shares (-6.4 per cent DoD). Average traded value increased by 14.8 per cent to reach US$ 60.3 million as against US$ 52.6 million.

Stocks that contributed significantly to the volumes include TELE, TPLP, TREET, PAELR3 and GGL.