Tag: PSX

KARACHI: Pakistan stocks gained 165 points on Wednesday owing to positive sentiments following unchanged monetary policy announced a day earlier.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,043 points as against previous day’s closing of 42,878 points, showing an increase of 165 points.

READ MORE: KSE-100 index sheds 389 points in volatile trading

Analysts at Arif Habib Limited said that the market stayed in the green zone today as the State Bank of Pakistan (SBP) kept the policy rate unchanged at 9.75 per cent in March 2022 Monetary Policy meeting.

The central bank held its benchmark interest rate steady for the second meeting in a row as inflationary concerns cooled a bit, but it did hint at the possibility of an early huddle in case any economic fallout of Russia-Ukraine war spills over into the country. Cement sector stayed in the red zone due to mounting international coal prices. In the last trading hour, value buying was observed.

READ MORE: Pakistan stocks nosedive on world oil, political unrest

Sectors contributing to the performance include Technology (+74.6 points), Fertilizer (+63.0 points), E&P (18.1 points), Cement (+12.5 points) and Automobile & Parts (+5.8 points).

READ MORE: Weekly Review: market to remain jittery

Volumes decreased from 226.1 million shares to 183.7 million shares (-18.8 per cent DoD). Traded value also decreased by 14.8 per cent to reach US$ 34.0 million as against US$ 39.9 million.

Stocks that contributed significantly to the volumes include GGL, PIBTL, TPLP, TELE and TPL.

READ MORE: Stocks gain 25 points in range bound trading

The Pakistan Stock Exchange (PSX) witnessed a turbulent session on Tuesday, with the benchmark KSE-100 Index dropping by 389 points, closing at 42,878 points, down from the previous day’s close of 43,267 points.

(more…)

KARACHI: Pakistan stocks on Monday plunged by 1412 points or 3.17 per cent in intraday trading owing to massive rise in international oil prices and political noise.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is trading at 43,140 points, having lost around 1412 points or 3.17 per cent at 10:50 AM, as compared with last Friday’s closing of 44,551 points.

READ MORE: Weekly Review: market to remain jittery

Analysts said that massive jump in international oil prices resulted in negative sentiments in the stock market.

The Brent crude reportedly rose by $11.67 or $130 a barrel by 6:50PM 2350GMT. The oil prices soared to the highest level since 2008.

READ MORE: Stocks gain 25 points in range bound trading

Besides, political uncertainty is also impacted the stock trading adversely. The political noise due to campaign of no-confidence move against the present government was gaining momentum and opposition parties are gathering to table the move.

Further, the FATF decision to keep Pakistan in grey list also one of the factors behind the stock market decline.

READ MORE: Stocks make slight gain amid higher fuel price concerns

Last week analysts said that the market will remain jittery in the short term on account of geopolitical tensions and rising commodity prices.

Key events to look out for include MPC meeting, FATF decision, and an ongoing IMF review which will have an impact on the market. Keeping in view the ongoing result season, certain sectors and scrips are expected to stay under limelight.

READ MORE: Stocks shed 289 points on high global commodity prices

KARACHI: Pakistan’s stock market likely to stay jittery on geopolitical tensions and rising commodity prices.

Analysts at Arif Habib Limited said that the market will remain jittery in the short term on account of geopolitical tensions and rising commodity prices.

READ MORE: Stocks gain 25 points in range bound trading

Key events to look out for include MPC meeting, FATF decision, and an ongoing IMF review which will have an impact on the market.

Keeping in view the ongoing result season, certain sectors and scrips are expected to stay under limelight.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.0x (2022) compared to Asia Pacific regional average of 13.5x while offering a dividend yield of 8.8 per cent versus ~2.4 per cent offered by the region.

READ MORE: Stocks make slight gain amid higher fuel price concerns

The outgoing week commenced on a positive note as Russia and Ukraine entered negotiations, however things turned for the worse as talks broke down, which caused global crude oil prices to soar past $ 114/bbl.

Moreover, announcement of an industrial package triggered buying mid-week, albeit, the positive momentum could not sustain for long as the market plummeted over the noise of Russia’s military attack on Ukraine and rising commodity prices.

READ MORE: Stocks shed 289 points on high global commodity prices

Furthermore, the trade deficit rose to $ 32 billion, increasing 82 per cent during July – February 2021/2022 and inflation rose over 12 per cent YoY, which kept the index under pressure as well.

The market closed at 44,551 points, rising 567points (up by 1.2 per cent) WoW.

Sector-wise positive contributions came from i) Oil & Gas Exploration Companies (402 points), ii) Technology & Communication (129 points) iii) Fertilizer (95 points), iv) Chemical (24 points) and v) Power Generation & Distribution (19 points). Whereas, sectors which contributed negatively came from i) Cement (67 points), ii) Oil & Gas Marketing Companies (12 points), iii) Insurance (12 points), iv) Automobile Assembler (11 points), and v) Leather & Tanneries (8 points).

READ MORE: Stocks stay bullish on major relief package

Scrip-wise positive contributors were PPL (169 points), OGDC (136 points) TRG (117 points), POL (74) and EFERT (37 points). Meanwhile, scrip-wise negative contribution came from LUCK (39 points), MCB (34 points), PSO (18 points), DGKC (17 points) and DAWH (16 points).

Foreign selling continued this week, clocking-in at $ 0.97 million compared to a net sell of $ 3.24 million last week. Major selling was witnessed in E&P’s ($ 1.5 million) and Banks ($ 1.4 million). On the local front, buying was reported by Banks ($ 2.4 million) followed by Brokers ($ 2.1 million). Average volumes clocked-in at 215 million shares (down by 5 per cent WoW) while average value traded settled at $ 43 million (up by 12 per cent WoW).

KARACHI: Pakistan stocks gained 25 points on Friday in a range bound trading observed throughout the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,551 points as against previous day’s closing of 44,526 points, showing an increase of 25. points.

READ MORE: Stocks make slight gain amid higher fuel price concerns

Analysts at Arif Habib Limited said that the market opened on a positive note and stayed range bound throughout the day due to expectation of unchanged policy rate in upcoming monetary policy.

Main board activity remained dull. In the last trading hour, value buying was observed.

READ MORE: Stocks shed 289 points on high global commodity prices

Sectors contributing to the performance include Fertilizer (+62.3 points), Cement (+22.4 points), Technology (+19.6 points), Banks (10.2 points) and Chemicals (+7.9 points).

READ MORE: Stocks stay bullish on major relief package

Volumes decreased from 188.7 million shares to 134.8 million shares (-28.6 per cent DoD). Traded value also decreased by 35.7 per cent to reach US$ 26.7 million as against US$ 41.5 million.

Stocks that contributed significantly to the volumes include FLYNGR1, TRG, YOUW, WTL and GGL.

READ MORE: Stocks gain 477 points amid negative sentiments

KARACHI: Pakistan stock made slight gain on Thursday amid concerns of high oil prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,526 points as against previous day’s closing of 44,514 points showing an increase of 12 points.

READ MORE: Stocks shed 289 points on high global commodity prices

Analysts at Arif Habib Limited said that the market opened under pressure as inflationary concerns arise due to higher fuel prices and overheated commodities cycle.

Cement sector stayed in the red zone due to mounting international coal prices.

READ MORE: Stocks stay bullish on major relief package

Moreover, trade deficit widened by 82.2 percent during the first eight months (July-February) of the current fiscal year 2021-22 and reached $31.959 billion compared to $17.535 billion during the same period of 2020-2021.

Main board activity remained dull. In the last trading hour, value buying was observed mainly in the E&P sector.

READ MORE: Stocks gain 477 points amid negative sentiments

Sectors contributing to the performance include E&P (+131.6 points), Power (+21.7 points), Fertilizer (+13.5 points), Inv Banks (9.1 points) and Automobile Assembler (+4.3 points).

Volumes decreased from 235.0 million shares to 188.7 million shares (-19.7 per cent DoD). Traded value also decreased by 21.2 per cent to reach US$ 41.4 million as against US$ 52.6 million.

Stocks that contributed significantly to the volumes include TRG, OGDC, FLYNGR1, FCCL and KEL.

READ MORE: Pakistan Stocks gain 154 points, follow global markets

KARACHI: Pakistan stocks lost 289 points on Wednesday owing to major hike in global commodity prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,514 points as compared with previous day’s closing of 44,803 points.

Analysts at Arif Habib Limited said that the market witnessed another bearish session due to major hike in global commodity prices.

READ MORE: Stocks stay bullish on major relief package

Cement sector took a major correction today due to spike in international coal prices, whereas good participation was observed in E&P and OMC stocks as international oil prices made a record high at $111.47.

Healthy participation was observed during the day, as value investors accumulated blue chip stocks across the board.

READ MORE: Stocks gain 477 points amid negative sentiments

Analysts at Topline Securities said that Pakistan equities closed red where benchmark KSE-100 Index settled at 44,514 level.

Higher international commodity prices and rising geopolitical tensions led the market to open sideways as market make an intraday low of 669 points.

READ MORE: Pakistan Stocks gain 154 points, follow global markets

However in last hour witnessed some recovery where TRG, POL, OGDC and PPL closed higher where on the other hand LUCK, ENGRO and SYS were the major laggards.

Traded volume and value for the day decreased by 24 per cent and 10 per cent on a DoD basis to 234.7 million shares and Rs9.33 billion, respectively. TRG was today`s volume leader with 21.92 million shares exchanging hands.

READ MORE: Pakistan stocks shed 1,302 points on Russia-Ukraine war

KARACHI: Pakistan’s stocks gained 343 points on Tuesday owing to major relief package announced by Prime Minister Imran Khan a day earlier.

The benchmark KSE-100 index of Pakistan closed at 44,804 points as against previous day’s closing of 44,461 points, showing an increase of 343 points.

READ MORE: Stocks gain 477 points amid negative sentiments

Analysts at Arif Habib Limited said that the market stayed in the bullish zone throughout the day due to relief package worth 0.54 per cent of the GDP announced by the prime minister.

The relief package for the masses to curb the impact of inflation and enhance support to the most vulnerable class of the society for the next four months till budget.

READ MORE: Pakistan Stocks gain 154 points, follow global markets

Moreover, headline inflation for month of February 2022 clocked-in at 12.24 per cent YoY compared to 8.70 per cent in February 2021 and 12.96 per cent in January 2022, respectively.

The YoY uptick in consumer price index (CPI) was led by Food (14.73 per cent YoY), Transport (25.04 per cent YoY), Housing (8.99 per cent YoY), Clothing & Footwear (9.67 per cent YoY), Miscellaneous (10.07 per cent YoY), Restaurants (14.39 per cent YoY), House Hold Equipment (13.44 per cent YoY), Health (10.11 per cent YoY) and Alcoholic Beverages & Tobacco (2.13 per cent YoY).

READ MORE: Pakistan stocks shed 1,302 points on Russia-Ukraine war

On a MoM basis, CPI reading increased by 1.15 per cent. While Food and Transport index kept MoM inflation up, housing index declined by 1.56 per cent MoM mainly due to decrease in electricity charges.

Sectors contributing to the performance include E&P (+145.8 points), Technology (+100.6 points), Chemicals (+34.7 points), Power (+20.6 points) and Banks (+16.1 points).

READ MORE: Equity market gains 121 points in volatile trading

Volumes increased from 208.1 million shares to 309.3 million shares (+48.6 per cent DoD). Traded value also increased by 72.3 per cent to reach US$ 58.9 million as against US$ 34.2 million.

Stocks that contributed significantly to the volumes include WTL, TRG, TELE, TPLP and TPL.

KARACHI: Pakistan stocks gained 477 points on Monday amid negative sentiments prevailed over rising political noise on Russia-Ukraine war.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,461 points as compared with Friday’s closing of 43,984 points, making a gain of 477 points.

READ MORE: Weekly Review: range bound trading likely

Analysts at Topline Securities said that the market opened on a negative note on the backdrop of ongoing conflict between Russia and Ukraine and increased political noise, as the index declined to make an intraday low of -339 points (down by 0.77 per cent).

However some recovery was observed in latter hours of trade, as value investors came in to accumulate near 44,000 index level, as a result index gained to close at 44,461 level (+477 points; up by 1.08 per cent)

On the corporate announcement front, SEARL disclosed it 2QFY22 earnings where company posted an EPS of Rs. 2.6 (down 6 per cent YoY). The result was higher than expectation due to higher than anticipated other income.

READ MORE: Pakistan Stocks gain 154 points, follow global markets

Bank, Cement, Fertilizer and Power sectors’ stocks took the lead today where MEBL, LUCK, ENGRO and HUBC cumulatively added 164 points to the index. On the flip side, COLG, NBP and TRG lost value to weigh down on the index by 36 points.

Traded volume and value for the day stood at 208 million shares and Rs.6 billion respectively. AGL was today`s volume leader with 15.7 million shares.

According to the analysts the KSE-100 Index declined by 2 per cent on MoM basis, month of February started on a positive note for the market on account of good corporate announcement and resumption in IMF program, where investor`s felt that corrective economic measures will be taken in line with IMF conditions.

READ MORE: Pakistan stocks shed 1,302 points on Russia-Ukraine war

However, market came under pressure in line with international markets on the back of confrontation between Russia and Ukraine, which has now escalated to armed conflict, where Russia has attached Ukraine, resulting in sanctions from US and other western countries.

This armed conflict in East Europe has triggered increased in commodity prices (crude oil, coal etc.), raising investors` concern with respect to current account deficit and inflation going forward. Investors participation in market reduced during the month, as average traded volume and value for the month of February stood at 226.8 million shares (down by 14 per cent MoM) and Rs.7.3 billion (down by 12 per cent MoM) respectively.

READ MORE: Equity market gains 121 points in volatile trading

Major events during the month of February-21 were C/A deficit clocking in at US$2.6 billion (posting highest ever monthly deficit), taking 7MFY22 Current Account Deficit to US$11.6 billion and MSCI Quarterly Index Review, in which there was no change in constituents for Pakistan; MSCI announced that Pakistan is now eligible for MSCI FM 100 index and MSCI FM 15 per cent Country Capped Index as part of the May 2022 Semi-Annual Index Review (SAIR).