KARACHI: Pakistan stocks gained 126 points on Monday amid positive sentiments prevailed during the day.
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Get the latest Pakistan Stock Exchange (PSX) news, KSE-100 Index updates, stock market trends, share prices, and investment insights.
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Weekly Review: stocks likely to move in green zone
KARACHI: Pakistan stocks likely to trade in green zone during the next week starting October 10, 2022.
Analysts at Arif Habib Limited said that the market is expected to remain positive in the upcoming week.
With the Monetary Policy Committee (MPC) meeting scheduled on Monday October 10 2022, the market is expecting a status quo.
While indication of a stable parity will also aid sentiment at the index.
READ MORE: Pakistan stocks end down in mixed trading session
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.2x (2023) compared to Asia Pac regional average of 12.1x while offering a dividend yield of 9.8 per cent versus 2.9 per cent offered by the region.
In the outgoing week the market continued its upward trend as China agreed to refinance a $2.24 billion loan and the government is in talks of rolling over of SAFE China deposits of $ 2 billion.
Additionally the trade deficit shrank 21.4 per cent YoY from $ 11.72 billion to $ 9.2 billion, which helped the index sustain momentum during the week.
READ MORE: Pakistan stocks gain 549 points on ADB aid announcement
Furthermore, Pakistani Rupee (PKR) appreciated against the green back, closing at 219.92 (up by PKR 8.53 | 3.7 per cent WoW).
Moreover, Asian Development Bank (ADB) announced it would provide aid of around $ 2.3-2.5 billion for relief in wake of the current natural disaster that occurred.
However, on Thursday Moody’s cut Pakistan’s sovereign credit rating from B3 to Caa1 due to increased liquidity and external vulnerability risks, keeping the bourse in check.
That said, the market closed 42,085points, gaining 956points (up by 2.3 per cent).
READ MORE: Stocks rally as PKR continues recovery against dollar
Sector-wise positive contributions came from i) Technology & Communication (360 points), ii) Power Generation & Distribution (251 points), iii) Cement (129 points), iv) Fertilizer (115 points) and v) Chemical (44 points).
Whereas, sectors which contributed negatively were i) Miscellaneous (44 points), and Paper & Board (6 points). Scrip-wise positive contributors were HUBC (227 points), TRG (171 points), SYS (170 points), ENGRO (66 points) and EFERT (61 points).
Meanwhile, scrip-wise negative contribution came from PPL (48 points), PSEL (41 points), MCB (26 points), UBL (24 points) and FATIMA (11 points).
READ MORE: Pakistan stocks gain 139 points on contraction in trade deficit
Foreigners buying continued during this week, clocking in at $ 4.7 million compared to a net buy of $ 0.15 million last week.
Major buying was witnessed in Technology ($ 6.0 million), Power ($ 0.4 million) and Cement ($ 0.3 million). On the local front, selling was reported by Insurance ($ 5.7 million) followed by Banks/DFI’s ($ 4.4 million).
Average volumes clocked in at 434 million shares (up by 118 per cent WoW) while average value traded settled at $ 48 million (up by 32 per cent WoW).
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Pakistan stocks end down in mixed trading session
KARACHI: Pakistan stocks ended down on Friday by 75 points in a mixed trading session observed during the day.
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Pakistan stocks gain 549 points on ADB aid announcement
KARACHI: Pakistan stocks gained 549 points on Thursday after the announcement of Asian Development Bank (ADB) of providing $2.3 billion.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,160 points from previous day’s closing of 41,611 points showing an increase of 549 points.
READ MORE: Stocks rally as PKR continues recovery against dollar
Analysts at Arif Habib Limited said that bulls ruled the day at PSX after the Asian Development Bank stated that it would give Pakistan aid worth $2.3 billion.
Due to the decline in international coal price, cement sector remained under limelight as the benchmark KSE-100 index traded in the green throughout the day.
READ MORE: Pakistan stocks gain 139 points on contraction in trade deficit
The investors remained bullish continuing the positive momentum from previous close. While third-tier stocks led the volume board, the main board continued to be on the healthy side.
Sectors contributing to the performance include Technology (+204.2 points), Fertilizer (+109.9 points), E&Ps (+84.3 points), Banks (+77.8 points) and Power (+42.5 points).
READ MORE: Stocks gain 83 points as PKR continues to appreciate
Volumes decreased from 635.6 million shares to 442.6 million shares (-30.4 per cent DoD). The average traded value increased by 31.5 per cent to US$ 61.8 million as against US$ 47.0 million.
Stocks that contributed significantly to the volumes are WTL, TPLP, TRG, FLYNG and KEL.
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Stocks rally as PKR continues recovery against dollar
KARACHI: The stocks rallied on Wednesday as Pakistani Rupee (PKR) continued recovery against dollar on ninth consecutive session.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,611 points from previous day’s closing of 41,350 points in the interbank foreign exchange market.
READ MORE: Pakistan stocks gain 139 points on contraction in trade deficit
Analysts at Arif Habib Limited said that positive momentum from the previous close continued at the PSX today.
The market remained in positive zone throughout the day as investors continued to accumulate value stock.
READ MORE: Stocks gain 83 points as PKR continues to appreciate
PKR continuing its solidification against the US dollar helping investors to remain affirmative in the market. Volumes continued to swell in the main board with 3rd tier stocks being in the limelight.
Sectors contributing to the performance include Technology (+120.5 points), Cement (+109.1 points), Fertilizer (+23.8 points), E&P’s (+22.0 points) and Engineering (+11.1 points).
READ MORE: Weekly Review: Investors to eye PTI protest call
Volumes increased from 593.4 million shares to 635.6 million shares (+7.1 per cent DoD). The average traded value also increased by 13.4 per cent to US$ 47.0 million as against US$ 41.4 million.
Stocks that contributed significantly to the stocks are WTL, TELE, TRG, FLYNG and GTECH.
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Pakistan stocks gain 139 points on contraction in trade deficit
KARACHI: Pakistan stocks on Tuesday gained 139 points on reports of contraction in trade deficit during the first quarter of the current fiscal year.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at to 41,350 points from previous day’s closing of 41,211 points, showing an increase of 139 points.
READ MORE: Stocks gain 83 points as PKR continues to appreciate
Analysts said that total import bill of Pakistan has fallen by 12.72 per cent in the first quarter (July – September) of the fiscal year 2022/2023.
The import bill of the country was $16.33 billion in the first quarter of the current fiscal year as compared with $18.72 billion in the corresponding period of the last fiscal year. Exports of the country, however, exhibited a nominal 2 per cent growth to $7.12 billion during the quarter under review as compared with $7 billion in the same quarter of the last fiscal year.
READ MORE: Weekly Review: Investors to eye PTI protest call
The fall in import bill resulted in trade deficit contraction of 21.42 per cent. The trade deficit of the country fell to $9.21 billion during July – September 2022 as compared with the deficit of $11.72 in the same quarter of the last fiscal year.
Analysts at Arif Habib Limited said that another positive session was observed at the PSX today after the Current Account Deficit declined significantly which helped the investors to gain confidence. The market opened in the green zone and traded favorably throughout the trading session. After announcing that its parent firm is concluding arrangements for NASDAQ listing, Worldcall Telecom Limited continued to dominate the volume board as trading volumes increased on the main board.
READ MORE: Stocks gain 115 points in volatile session
The Index closed at 41,350.43 points, up by 138.73 points (+0.34 per cent DoD). Sectors contributing to the performance include Technology (+73.9.2 points), Power (+53.6 points), Cement (+47.5 points), Misc. (+28.3 points) and Fertilizer (+20.2 points).
Volumes increased from 185.4 million shares to 593.4 million shares (+220.0 per cent DoD). The average traded value also increased by 0.4 per cent to US$ 41.4 million as against US$ 41.3 million.
Stocks that contributed significantly to the volumes are WTL, FLYNG, KEL, GTECH and TPLP.
READ MORE: Pakistan stocks witness bloodbath on HBL terror probe
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Stocks gain 83 points as PKR continues to appreciate
KARACHI: Stocks showed a positive trend on Monday as the Pakistani Rupee (PKR) continued to appreciate against the US Dollar, boosting investor sentiment.
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SNGPL to distribute 100,000 LPG cylinders to meet energy shortage
KARACHI: Sui Northern Gas Pipelines Limited (SNGPL) has approved the supply of 100,000 cylinders of LPG gas to meet energy needs in coming winter.
In a material information shared with the Pakistan Stock Exchange (PSX) on Monday, SNGPL said in view of potential gas shortfall in the forthcoming winter, the Ministry of Energy (Petroleum Division) has advised to explore all possible options to meet energy needs of consumers, including supplying LPG cylinders.
Accordingly, the Board of Directors of SNGPL in their meeting dated September 28, 2022, has approved the project of LPG distribution with 100,000 Cylinders.
The estimated initial investment for the venture is up to Rs 1,200 million. The return on investment is not subject to present ROA regime and will be determined as per market dynamics.
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Weekly Review: Investors to eye PTI protest call
KARACHI: The investors of Pakistan stocks likely to decide strategy during the next week on the basis of expected protest call by Pakistan Tehreek I Insaaf (PTI).
Senior PTI leader Asad Qaiser reportedly said that PTI Chairman Imran Khan likely to call for countrywide protest and long march during a week.
READ MORE: Stocks gain 115 points in volatile session
However, analysts at Arif Habib Limited said that market likely remain range bound as results season was almost over.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.2x (2023) compared to Asia Pac regional average of 12.1x while offering a dividend yield of 9.8 per cent versus 2.9 per cent offered by the region.
The week commenced on a positive note as market was up 531.1 points on Monday following the release of SPI number on the last working day, which was 8.8 per cent down WoW.
READ MORE: Pakistan stocks witness bloodbath on HBL terror probe
Moreover, market also reacted positively on the news of change in Finance Ministry high-ups. Furthermore, Pakistani Rupee (PKR) appreciated against the green back, closing at 228.45 (up by PKR 11 | 4.9 per cent WoW).
Real Effective Exchange Rate (REER) clocked-in at 94.5 as of August 2022 compared to 93.2 in July 2022.
Further, an amount of USD 2 billion was committed by Asian Development Bank (ADB) which is expected to mobilize by the end of this year.
READ MORE: Stocks shed 83 points on rising political noise
On the flip, the market sentiment become negative towards the end of the week as the State Bank of Pakistan (SBP) reserves declined by 4 per cent WoW clocking-in at USD 8 billion.
In addition, yields on government’s international bonds maturing in 2022 and 2024, increased during the week by 20-24pps WoW.
Moreover, with HBL coming under international scrutiny, market sentiment was further dented. Albeit, the market closed 41,129 points, gaining 508 points (up by 1.25 per cent).
READ MORE: Stocks gain 367 points amid clarity on political ground
Sector-wise positive contributions came from i) Power Generation & Distribution (141 points), ii) Cement (107 points), iii) Technology & Communication (92 points), iv) Oil & Gas Exploration (65 points) and v) Fertilizer (40 points).
Whereas, sectors which contributed negatively were i) Commercial Banks (217 points), and Close-End Mutual Fund (1 points). Scrip-wise positive contributors were HUBC (139 points), TRG (122 points), PPL (55 points), LUCK (49 points) and OGDC (40 points).
Meanwhile, scrip-wise negative contribution came from HBL (213 points), MEBL (34 points), MARI (32 points), SYS (28 points) and BAHL (12 points).
Foreigners buying continued during this week, clocking in at USD 0.15 million compared to a net buy of USD 5.09 million last week. Major buying was witnessed in Technology (USD 2.5 million), Cement (USD 0.2 million), Power Generation & Distribution (USD 0.2 million) and Food & Personal Care Products (USD 0.1 million). On the local front, selling was reported by Mutual Funds (USD 7.6 million) followed by Insurance Companies (USD 3.9 million).
Average volumes clocked in at 200 million shares (up by 20 per cent WoW) while average value traded settled at USD 36 million (up by 39 per cent WoW).
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Stocks gain 115 points in volatile session
KARACHI: Pakistan stocks gained 115 points on Friday in a volatile trading session during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,129 points as compared with previous day’s closing of 41,014 points, showing a gain of 115 points.
READ MORE: Pakistan stocks witness bloodbath on HBL terror probe
Analysts at Arif Habib Limited said that the market remained under pressure all day long as investors participated left and right.
The stock market remained sluggish during the opening half but got active in the second trading session.
READ MORE: Stocks shed 83 points on rising political noise
The investors maintained a strategic distance due to political and economic instability, however due to rollover week, hefty volumes were witnessed in the future contracts that led the index close in the green.
Sectors contributing to the performance include Technology (+80.4 points), E&P’s (+35.6 points), Fertilizer (+24.4 points), Investment Banks (+20.9 points) and Tobacco (+13.0 points).
READ MORE: Stocks gain 367 points amid clarity on political ground
Volumes increased from 127.4 million shares to 205.7 million shares (61.4 per cent DoD). The average traded value also increased by 72.1 per cent to US$ 41.6 million as against US$ 24.2 million.
Stocks that contributed significantly to the volumes are TRG, TPLP, KEL, PIBTL and CNERGY.