Tag: PSX

KARACHI: The stocks observed volatile trading on Tuesday owing to surge in the cases of Omicron – the new variant of COVID-19.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,881.1 points as against previous day’s closing of 45,887.6 points, showing a decrease of 6.5 points.

READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

Analysts at Arif Habib Limited said that the market remained volatile today due to rapid surge in the Covid-19 cases as within the past 10 days positivity rate has jumped from 1.08 percent to 3.66 percent showing an increase of 338.9 percent since the start of the New Year.

READ MORE: Headline inflation rises by 12.3% in December 2021

Profit taking was witnessed across the board. However, rally in banking sector was observed due to the expectation of foreign inflows. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

Sectors contributing to the performance include Cement (-31 points), E&P (-28 points), Technology & Communication (-20 points), Power (-10 points) and Tobacco (-10 points).

READ MORE: Tax exemptions worth Rs343 billion withdrawn through mini-budget

Volumes decreased from 356.9 million shares to 339.1 million shares (-5.0 per cent DoD). Traded value also decreased by 17.9 per cent to reach US$ 55.2 million as against US$ 67.2 million.

Stocks that contributed significantly to the volumes include WTL, HASCOL, UNITYR3, TRG and HUMNL.

READ MORE: Retail price of sugar may be abolished for sales tax

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 542 points on Monday as the market witnessed hefty buying during the day.

The index ended at 45,888 points as against last Friday’s closing of 45,346 points, showing an increase of 542 points.

Analysts at Topline Securities said that the investors welcomed new week on a bullish note where KSE-100 index remained mostly in the green zone throughout the day.

READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

Initially, market opened on a negative note on the back of news regarding further delay in IMF program.

However, across the board buying has been witnessed in the blue chip stocks ahead of the commencement of result season which assisted index closing to settle at 45,888 level (+542 points; up 1.2 per cent).

READ MORE: Headline inflation rises by 12.3% in December 2021

Power, Banks and Technology sector’s stocks contributed positively today where HUBC, MCB and TRG cumulatively added 153 points while EFERT, POL and MARI has seen some profit taking as they lost 60 points, collectively.

Total volume and value stood at 356 million shares and Rs. 11.86 billion, respectively. UNITYR was top on the volume chart with around 33 million shares traded in it, today.

Analysts at Arif Habib Limited said that the market stayed in the bullish zone as investors became optimistic due to the highest ever textile exports during 1HFY22.

READ MORE: Tax exemptions worth Rs343 billion withdrawn through mini-budget

Market opened under pressure as fears uplifted due to coronavirus rising cases in Pakistan. After one hour of market opening, traders took aggressive bet on tech stocks.

Rally in banking sector was observed due to the expectation of foreign inflows. Cement sector stayed in the green zone due to the decline in international coal prices. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

READ MORE: Retail price of sugar may be abolished for sales tax

KARACHI: The stocks may stay positive during next week owing to a number of factors including scheduled meeting of IMF, coronavirus vaccine target and expected healthy corporate earnings.

Analysts at Arif Habib Limited said that the market to show positivity in the upcoming week attributable to successfully achieving vaccination targets, meeting with IMF scheduled on January 12, 2022 in which completion of review would result in disbursement of SDR 750 million ($1,059 million) and expectation of healthy corporate profitability during the outgoing quarter particularly across cyclical sectors should keep sentiments positive.

READ MORE: IMF Board to approve $1.059bn by Jan 12, 2022: Tarin

However, rising cases of Covid-19 (fifth wave of coronavirus) and current macro-economic concerns like rising imports, and higher inflationary reading due to increasing prices of commodities could keep the market range-bound

The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.1x (2022) compared to Asia Pac regional average of 14.0x while offering a dividend yield of ~8.7 per cent versus ~2.3 per cent offered by the region.

READ MORE: Stocks up 263 points amid optimism on IMF decision

The KSE-100 Index started the New Year with renewed optimism, led by heavy foreign buying in technology scrips (foreign buying in technology sector during the week were $22.5 million).

Moreover, decline in trade deficit on MoM basis, appreciation of PKR against the dollar, and expectations of fresh funds allocation by foreigners in PSX improved investors sentiments. The domestic equity bourse closed at 45,346 points (+750 points WoW or 1.68 per cent).

READ MORE: Dollar falls by 25 paisas to Rs176.67 in interbank

Contribution to the upside was led by i) Fertilizer (212 points), ii) Power Generation (159 points), iii) Commercial Banks (146 points), iv) Oil and Gas Exploration (111 points), and v) Engineering (41 points). Scrip-wise major gainers were HUBC (163 points), SYS (94 points), POL (85 points), EFERT (76 points), and FFC (59 points).

Foreigners bought stocks worth of $ 24.2 million compared to a net buy of $ 8.1 million last week. Major buying was witnessed in Technology ($ 22.5 million) and Banks ($ 0.7 million). On the local front, selling was reported by Individuals ($ 15.1 million) followed by Mutual Fund ($ 8.4 million). The average daily volumes for the outgoing week were up by 46 per cent to 318 million shares, and traded value also up by 32 per cent to $ 57 million, respectively.

READ MORE: SBP continues banking relaxations amid rising COVID cases

KARACHI: The stocks gained 263 points on Friday as investors optimistic about IMF’s executive board meeting on January 12, 2022.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,345 points as against 45,082 points, showing an increase of 263 points.

READ MORE: IMF Board to approve $1.059bn by Jan 12, 2022: Tarin

Analysts at Arif Habib Limited said that the index closed in the green zone today as investors became optimistic about IMF’s Executive Board meeting on January 12.

Profit taking was witnessed in the first trading hour as coronavirus positivity ratio exceeded 2 per cent in a single day for the first time since October 14 last year.

READ MORE: IMF outlines actions for Pakistan to release $1.059bn

Fertilizer sector remained in the limelight due to expectation of price hike of urea in the market. Cement sector remained under pressure due to the uptick in international coal prices. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

Sectors contributing to the performance include Banks (+108 points), Fertilizer (+98 points), Power (+46 points), E&P (36 points) and Engineering (+11 points).

READ MORE: IMF intervention to add economic miseries of Pakistan

Volumes decreased from 345.2 million shares to 242.3 million shares (-29.8 per cent DoD). Traded value also decreased by 40.1 per cent to reach US$ 44.9 million as against US$ 74.9 million.

Stocks that contributed significantly to the volumes include TELE, WTL, TRG, UNITYR3 and SILK.

READ MORE: KSE-100 index sheds 326 points on rising Omicron cases

The Pakistan Stock Exchange (PSX) witnessed a decline on Thursday, with the benchmark KSE-100 index dropping by 326 points. The index closed at 45,082 points, marking a decrease from the previous day’s closing of 45,408 points.

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KARACHI: The stocks ended with a nominal gain of 17 points on Wednesday due to rise in Omicron cases – the new variant of coronavirus.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,408 points as against previous day’s closing of 45,391 points, showing an increase of 17 points.

Analysts at Arif Habib Limited said that the market played in the range-bound area today as investors remained risk-averse due to the rising number of Covid-19’s new variant Omicron cases in Pakistan.

Profit-taking was witnessed in the first trading hour while market battled between the bulls and bears throughout the day.

Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

Sectors contributing to the performance include E&P (+25 points), Power (+24 points), Investment Banks/Sec. (+20 points), Fertilizer (+13 points) and Tobacco (+13 points).

Volumes increased from 376.0 million shares to 432.1 million shares (+14.9 per cent DoD). Traded value decreased by 19.5 per cent to reach US$ 58.2 million as against US$ 72.3 million.

Stocks that contributed significantly to the volumes include WTL, UNITYR3, TELE, FNEL and TRG.

KSE-100 index gains 504 points on easing trade deficit

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 504 points on Tuesday as the trade deficit contracted.

The index closed at 45,391 points as against the previous day’s closing of 44,887 points, showing an increase of 504 points.

Analysts at Arif Habib Limited said that bullish momentum continued today as the confidence of investors gained due to improvement in economic numbers as trade deficit declined to $4.1 billion during December 2021 and drop down in food inflation.

READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

The market opened in the green zone as traders took an aggressive bet on high beta stocks.

Tech stocks made the journey to the north as fresh allocation of funds towards the tech sector was initiated in order to make alpha returns.

In the last trading hour, across the board profit-taking was witnessed mainly in cyclical stocks. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.

READ MORE: Headline inflation rises by 12.3% in December 2021

Sectors contributing to the performance include Technology (+112 points), Cement (+72 points), E&P (+59 points), Power (+42 points), and Pharmaceuticals (+36 points).

Volumes increased significantly from 195.2 million shares to 376.0 million shares (+92.6 per cent DoD). Traded value also increased by 96.1 per cent to reach US$ 72.3 million as against US$ 36.9 million.

Stocks that contributed significantly to the volumes include UNITYR3, TRG, WTL, TELE and FNEL.

READ MORE: Dollar advances to Rs176.75 on post-holidays demand

KARACHI: The stocks gained 291 points on Monday amid contraction in the trade deficit and recovery in rupee value last week.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,887 points from last Friday’s closing of 44,996 points, showing an increase of 291 points.

READ MORE: KSE-100 index gains 180 points amid profit-taking

Analysts at Arif Habib Limited said that the market closed in the green zone today as the trade deficit declined to $4.1 billion during December 2021 and recovery in Pak Rupee against the dollar over last week.

READ MORE: Pakistan’s trade deficit swells by 100% in 1HFY22

The market opened with low volumes but the rally in cement stocks was initiated as international coal prices dropped for the third consecutive session.

CPI for the month of Dec 2021 clocked in at 12.28 per cent YoY, highest inflation in 22 months.

READ MORE: Headline inflation rises by 12.3% in December 2021

In the last trading hour, across the board buying was witnessed mainly in cyclical stocks. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks.

Sectors contributing to the performance include Fertilizer (+58 points), Cement (+54 points), Technology (+50 points), Engineering (+39 points) and Banks (+33 points).

READ MORE: Dollar retreats to year end at Rs176.51

Volumes decreased from 317.6 million shares to 195.2 million shares (-38.6 per cent DoD). Traded value also decreased by 39.8 per cent to reach US$ 36.9 million as against US$ 61.4 million.

Stocks that contributed significantly to the volumes include PIBTL, TPLP, GGL, FNEL and CNERGY.

KARACHI: The stock market likely to stay positive during next week owing to clarity on the International Monetary Fund (IMF) front.

Analysts at Arif Habib Limited expect that bourse to remain in the green zone amid clarity on the IMF front.

Moreover, they expect foreign inflows in the upcoming month amid ‘January effect’.

READ MORE: IMF Board to approve $1.059bn by Jan 12, 2022: Tarin

Overall optimism with respect to upcoming corporate result season and scrips currently being traded at attractive valuations is further expected to boost positive sentiment in the bourse.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.0x (2022) compared to Asia Pac regional average of 15.0x while offering a dividend yield of around 8.9 per cent versus around 2.2 per cent offered by the region.

READ MORE: KSE-100 index gains 180 points amid profit-taking

In the week commencing December 27, 2021, KSE 100 index shredded 204.95 points owing to lack of clarity on implications of supplementary Finance Bill & mini budget and looming concerns of Omicron variant across major cities of Pakistan.

However, the market adopted a positive momentum for the remaining week once uncertainties related to supplementary Finance Bill & mini budget gradually began to dispel after it was tabled in Cabinet.

The week neared its end with investor sentiments further strengthening after the supplementary Finance Bill and mini budget received Cabinet’s approval, as it was the last hurdle remaining in the way of USD 1 billion tranche disbursement from IMF (meeting due on January 12, 2022).

Furthermore, the PKR/USD Parity strengthened to PKR 176.51 (4-weeks high). The market snapped its 4-day bullish streak and closed at 44,596.07  points, gaining 179.87 points (up by 1.1 per cent) WoW. The activity in the outgoing week remained subdued with total volume averaging at 218 million.

READ MORE: Dollar retreats to year end at Rs176.51

Sector-wise positive contributions came from i) Cement (112 points), ii) Fertilizer (75 points), iii) Commercial Banks (72 points), iv) Tobacco (32 points), and v) Oil & Gas Marketing (32 points). Whereas, sectors which contributed negatively were i) Power Generation (18 points), ii) Inv. Banks (7 points). Scrip-wise positive contributors were MCB (45 points), POL (34 points), ENGRO (33 points), DGKC (33 points) and PAKT (32 points). Meanwhile, scrip-wise negative contribution came from HUBC (39 points), HMB (18 points) and ABOT (17 points).

Foreign buying witnessed this week, clocking-in at USD 8.1 million compared to a net sell of USD 3.7 million last week. Major buying was witnessed in Technology (USD 4.8 million) and All Other Sectors (USD 2.5 million). On the local front, selling was reported by Banks/DFIS (USD 2.5 million) followed by Individuals (USD 2.0 million). Average volumes clocked-in at 218 million shares (up by 1.2 per cent WoW) while average value traded settled at USD 84 million (up by 13 per cent WoW).