Tag: PSX

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 282 points on Thursday on depreciation of Pak Rupee (PKR).

The index closed at 46,348 points as against previous day’s closing of 46,630 points, showing a decrease of 282 points.

Analysts at Arif Habib Limited said that the market opened on a positive note but remained dull in the first half of the market.

Concerns on inflation and weakening of Pak Rupee against dollar created uncertainty for investors to take fresh positions, which eventually resulted in a profit-booking scenario of last day positions in the second half session.

Accumulation was witnessed in the banking sector as market participants eyeing rate hike in the upcoming monetary policy.

Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, institutional activity remained lackluster.

Sectors contributing to the performance include Commercial Banks (-60 points), E&P (-55 points), Technology (-40 points), Cement (-37 points) and Engineering (-19 points).

Volumes decreased from 320.3 million shares to 269.5 million shares (-15.9 percent DoD). Traded value also decreased by 11 per cent to reach US$ 54.5 million as against US$ 61.2 million.

Stocks that contributed significantly to the volumes include GGL, SERF, TELE, TPLP and WAVES.

KSE-100 index gains 230 points on positive sentiments

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 230 points on Wednesday as positive sentiments prevailed during the day.

The index closed at 46,630 points as against previous day’s closing of 46,400 points.

Analysts at Arif Habib Limited said that the index stayed in the green zone throughout the day as the market celebrated the statement from Advisor to Prime Minister on Finance that no proposal for the PM to seek help of International Monetary Fund (IMF) chief was under consideration, which eventually gave confidence to investors.

Market opened on a positive note as traders took bet on cement, steel and technology stocks.

Accumulation was witnessed in the banking sector as investors eyeing towards rate hike in the upcoming monetary policy.

On the institutional front, buying activity was observed in the cement sector as inflows appeared through mutual funds.

Sectors contributing to the performance include Fertilizer (+80 points), E&P (+70 points), Technology (+21 points), Pharma (+21 points) and Power (+20 points).

Volumes decreased from 434.7 million shares to 320.3 million shares (-26.3 per cent DoD). Traded value also decreased by 25.3 per cent to reach US$ 61.6 million as against US$ 82.5 million.

Stocks that contributed significantly to the volumes include FNEL, SERF, GGL, TELE and TPLP.

Stocks plunge by 715 points on PKR weakening

KARACHI: The stocks plunged by 715 points on Tuesday owing to weakening in the value of Pak Rupee (PKR). The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46400 points as against previous day’s closing of 47,115 points showing a decrease of 715 points.

Analysts at Arif Habib Limited said that bloodbath session was witnessed today due to the further weakening of Pak Rupee against dollar, concerns on inflation and resumption of foreign selling spree.

Market opened on a bleak note after the news clocked in the morning that revival of USD six billion stalled IMF program for Pakistan hinges upon stamped clearance of IMF’s two departments before forwarding it in front of the Fund’s Executive Board.

Textile sector continued to remain under pressure for second consecutive session over concerns on ending of subsidized gas supply.

Institutional activity remained on the sell-side due to redemptions from the mutual fund industry.

Accumulation was witnessed in the banking sector as KIBOR rates have witnessed a sharp rise in the past one month, where the spread between the 6M KIBOR and policy rate has touched a high of 162 basis points, increasing from its average spread of 50 basis points.

In the last trading hour, sell-off was witnessed across the board mainly as investors opted for cautious approach.

Sectors contributing to the performance include Commercial Banks (-123 points), Cement (-102 points), Technology (-79 points), E&P (-63 points) and Power (-46 points).

Volumes increased from 364.9mn shares to 434.7 million shares (+19.1 per cent DoD). Traded value also increased by 11.6 per cent to reach US$ 83.1 million as against US$ 74.5 million.

Stocks that contributed significantly to the volumes include TELE, FFLR1, FNEL, WTL and GGL.

Stocks fall by 181 points on inflation concerns

KARACHI: The stocks fell by 181 points on Monday in rang bound trading as inflationary concerns are heating up among investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,115 points as against 47,296 points.

Analysts at Arif Habib Limited said that the market continued to remain range-bound today as inflationary concerns heated up among investors after the statement came from Adviser to the Prime Minister on Finance that IMF has asked Government to further hike levy on petroleum products.

Textile sector remained under pressure as Ministry of Energy (Petroleum Division) had already moved a summary to the federal cabinet for ending subsidized gas supply to the industrial sector including captive power plants immediately.

Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, Institutional activity stayed lackluster. In the last trading hour, profit taking was witnessed across the board mainly led by technology sector.

Sectors contributing to the performance include Technology (-45 points), E&P (-28 points), Banks (-26 points), Pharma (-20 points) and Engineering (-19 points).

Volumes decreased from 469.9 million shares to 364.9 million shares (-22.3 per cent DoD). Average traded value also decreased by 19.8 per cent to reach US$ 75.0 million as against US$ 93.5 million.

Stocks that contributed significantly to the volumes include HUMNL, TELE, FNEL, GGL and WTL.

Weekly Review: market may stay positive on IMF deal

KARACHI: The stock market gained 77 points on Friday amid profit taking observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,296 points from previous day’s closing of 47,219 points.

Analysts at Topline Securities said that KSE-100 index opened on a positive note and gained to make an intraday high of 389 points, however profit taking was observed during the latter hours of the trade as index declined to close at 47,296 level up by 77 points).

Major contribution to the index came from UBL, HBL, MCB, OGDC and PIOC, as they cumulatively contributed 102 points to the index, whereas on the other hand FFC, TRG, SYS, POL and THAL lost value to weigh down on the index by 124 points.

Traded volume and value for the day stood at 469 million shares and Rs.15.95 billion respectively. WTL was today`s volume leader with 42 million shares.

Share market gains 187 points in range bound trading

KARACHI: The share market gained 187 points on Thursday in a range bound trading activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,219 points as against 47,032 points.

Analysts at Arif Habib Limited said that the market continued to remain range-bound today due to concerns over uptick in Richard bay coal price, food inflation and resumption of foreign selling spree.

Activity remained side-ways as market witnessed hefty volumes in the 3^rd tier stocks. Technology sector continued to remain in the limelight throughout the day as traders again placed bet on high-beta stocks to mark quick gains.

On the flip-side, Institutional activity stayed lackluster. In the last trading hour, buying was observed in the banking sector and index managed to close above 47000 levels.

Sectors contributing to the performance include Technology (+92 points), Fertilizer (+44 points), Refinery (+36 points), E&P (+26 points) and Textile (+21 points).

Volumes increased from 380.6 million shares to 561.9 million shares (+47.7 per cent DoD). Average traded value also increased by 3.0 per cent to reach US$ 94.2 million as against US$ 91.5 million.

Stocks that contributed significantly to the volumes include WTL, BYCO, TELE, FNEL and ANL.

Stocks end down 80 points in range bound trading

KARACHI: The stocks have ended down by 80 points on Wednesday in a range bound trading activity.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,032 points as against 47,113 points showing an decrease of 80 points.

Analysts at Arif Habib Limited said that the market remained range-bound today due to concerns over monetary tightening and resuming of foreign selling spree.

Technology sector remained in the limelight throughout the day as traders placed the bet on high-beta stocks to mark quick trading gains. On the flip-side, Institutional investors fetched for value hunting as buying was observed in E&P and banking stocks.

In the last trading hour, investors opted for profit booking specially in cement and steel stocks in expectation of interest rate hike by SBP in the upcoming monetary policy.

Sectors contributing to the performance include Technology (+193 points), Refinery (+22 points), Chemical (+19 points), Leather (+12) and Insurance (+7 points).

Volumes increased from 307 million shares to 381 million shares (+24.2 per cent DoD). Average traded value also increased by 12.7 per cent to reach US$ 91.5 million as against US$ 81.08 million.

Stocks that contributed significantly to the volumes include PTC, HASCOL, WTL, TRG and TPLP.

Stocks gain 138 points on narrowing trade deficit

KARACHI: The stock market gained 138 points on Tuesday owing to a contraction in trade deficit on a monthly basis.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,113 points from the previous day’s closing of 46975 points.

Analysts at Topline Securities said that bullish momentum continued at PSX as well in the backdrop of improved trade deficit numbers on monthly basis, significant decline in international coal prices and anticipation of agreement between IMF and Government of Pakistan in the prevailing week as announced by the finance minister.

Market opened on a positive note and made an intraday high at 47,315 level (up 340 points; +0.72 per cent) before closing at 47,113 level (up 138 points; +0.29 per cent).

Initially, the cement sector led the show to celebrate substantial reduction of over 35 per cent in global coal prices but witnessed profit taking in the later half of the day.

Technology and Banking sector stocks also provided support by adding 156 points cumulatively.

During the day, total volume and value stood at 306 million shares and Rs8.37 billion, respectively. BYCO was the volume leader with 19.2 million shares traded in it, today.

Stocks gain 790 points as positive sentiments prevail

KARACHI: Pakistan’s stocks gained 790 points on Monday owing to successful negotiations between the government and the banned outfit.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,975 points from last Friday’s closing of 46,185 points.

Analysts at Topline Securities said that Pakistani equities started the week on a positive note and closed the day at 46,946.21.

Sentiments turned positive as the government announced on Sunday that it had reached an agreement with Tehreek-e-Labbaik Pakistan (TLP) to end a 10-day standoff with the latter.

Sentiments were further buoyed after Prime Minister Imran Khan rejected the Oil and Gas Regulatory Authority (OGRA) and Finance Ministry’s proposals to increase the prices of petroleum products.

Slight profit-taking was witnessed near the close of the session after the monthly CPI clocked in at 9.2 per cent YoY for the month of October 2021, which was above market expectations.

The total volume and value traded in the KSE All Share Index clocked in at 430.01 million shares and Rs14.78 billion respectively.

The volume leader for today was WTL with 53.86mn shares traded during the session.

Pakistan Stock Exchange reverts to old trading system