The KSE-100 index ended at 43,519 points from previous day’s closing of 43,847 points.
Analysts at Topline Securities said that Pakistan equities started the day on a positive note initially but succumbed to selling pressure after made an intra-day high at 43,997 level in the early trading hours.
Investors’ sentiment dampened on the news regarding Omicron cases emerged in the country, paving the way for another possible cycle of smart lockdowns in the effective areas.
At one time, KSE 100 index made an intra-day low at 43,274 level before closing at 43,519 level.
Cements, Banks & Technology sector witnessed profit taking today where LUCK, HBL, MEBL, DGKC, CHCC & AVN cumulatively lost 158 points while OGDC & PPL added 74 points collectively as investors are expecting a onetime heavy dividend in them.
Total volume and value stood at 200 million shares and Rs. 8.75 billion, respectively. TRG was at top on the volume chart with 25.7 million shares traded in it, today.
KARACHI: The Pakistan Stock Exchange (PSX) experienced a subdued trading day on Wednesday, with the benchmark KSE-100 index closing down by a marginal 7 points at 43,847 points, compared to the previous day’s close of 43,853 points.
The index closed at 43,853 points as against previous day’s close of 43,281 points.
Analysts at Arif Habib Limited said that a positive day for the KSE-100 index was observed, as the world has drifted towards good news of reduced risk of OMICRON, which has helped the international commodities and equities to rally across the globe.
KSE-100 opened on positive news and rallied more than 785 points intraday as investors participated in E&P stocks amid the expected resolution of gas circular debt.
Sectors contributing to the performance include E&P (+115 points), Technology & Communications (+114 points), Cement (+85 points), Refinery (+27 points) and Textile Composite (+25 points).
Volumes increased from 176.9 million shares to 229.4 million shares (+29.7 per cent DoD). Traded value also increased by 37.7 per cent to reach US$ 47.4 million as against US$ 34.4 million.
Stocks that contributed significantly to the volumes include TELE, TPLP, TREET, HASCOL and UNITY.
KARACHI: The stocks have gained 48 points on Monday as lackluster trading activities prevailed during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 43,281 points as against last Friday’s closing of 43,233 points.
Analysts at Arif Habib Limited said that the market remained lackluster during the entire trading session, the bear remained active in the market today by pushing investors on the sideline in continuation to the concerns towards Current Account Deficit (CAD) and higher inflation along with an indication of higher interest rates in the upcoming monetary policy.
The market opened on a positive note but activity remained sluggish during the day due to volatility in the index but managed to close positive at the day end. Selling pressure seems to subside at current levels and the market may witness good flows moving forward.
Sectors contributing to the performance include E&P (+124 points), Technology (+83 points), Power (+26 points), Chemical (+10 points) and Cement (+8 points).
Volumes decreased from 287.7 million shares to 176.9 million shares (-38.5 per cent DoD). Traded value also decreased by 40.8 per cent to reach US$ 34.5 million as against US$ 58.2 million.
Stocks that contributed significantly to the volumes include WTL, TELE, TRG, UNITY and HASCOL.
KARACHI: The stock market is likely to stay range-bound during the next week owing to the upcoming monetary policy decision and large trade deficit.
Analysts at Arif Habib Limited said that with the Saudi Funds expected to arrive anytime soon, the market can rebound and the Pak Rupee slide will be contained.
Keeping in view macro-economic concerns investors are expected to have a cautious approach.
Albeit, it is expected the market to be range-bound in the upcoming week.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.6x (2022) compared to the Asia Pac regional average of 14.7x while offering a dividend yield of 8.8 versus 2.2 per cent offered by the region.
The market commenced on a positive note given the fall in the international oil prices amid an outbreak of the new COVID-19 variant ‘Omicron’, subsiding concerns over inflation.
Moreover, approval of the Saudi fund of $3 billion and expectation of it arriving soon kept the sentiment high. Furthermore, the government paid Rs135 billion as a second installment to the IPPs under the 1994 policy, which further boosted the momentum. In addition to this, the market was reclassified to Frontier Market during the week, which was expected to bring in foreign inflows.
However, the trade numbers released by the PBS for the month of November 2021 posted a massive jump in the imports to $8 billion (up by 94 per cent MoM) during the month, taking the trade deficit to an all-time high of $5.1 billion (up by 3x MoM) causing a bloodbath in the index (marking worst single-day fall after 20 months).
This along with a more-than-anticipated CPI figure of 11.53 per cent YoY (November 2021), created panic in the market as concerns over a massive hike started brewing up in upcoming monetary policy in December 2021.
Sector-wise negative contributions came from i) Technology and Communication (198 points), ii) Cement (165 points), iii) Oil & Gas Exploration Companies (101 points), iv) Textile Composite (68 points), and v) Food & Personal Care Products (67 points). Whereas, sectors which contributed positively were i) Commercial Banks (59 points), and ii) Oil & Gas Marketing Companies (20 points). Scrip-wise negative contributors were LUCK (124 points), TRG (107 points), SYS (65 points), MARI (62 points) and POL (44 points). Meanwhile, scrip-wise positive contributions came from HBL (67 points), PSO (52 points) and UBL (40 points).
Foreign selling continued this week, clocking in at USD 62.8 million compared to a net sell of USD 39.2 million last week. Major selling was witnessed in Commercial Banks (USD 27.2 million) and Cement (USD 14.8 million). On the local front, buying was reported by Companies (USD 25.7 million) followed by Individuals (USD 16.0 million). Average volumes clocked in at 319 million shares (up by 21 per cent WoW) while average value traded settled at USD 90 million (up by 51 per cent WoW).
Analysts at Arif Habib Limited said that the bears ruled over the bulls today due to concerns over an alarming number of current account deficit, devaluation of Pak rupee, and a big jump in cut-off yields of treasury bills indicating a hawkish stance in the upcoming monetary policy.
Yesterday, a sharp downfall in the market occurred due to a sell-off by mutual funds which eventually created an attractive opportunity for value hunters.
The market opened on a positive note as value hunters did aggressive buying in the first session.
In the second session, across the board selling was witnessed as PKR closed at an all-time low of 176.77, down 0.2 per cent DoD.
Moving forward, the analysts expect the market to remain volatile and recommend a cautious approach.
Sectors contributing to the performance include Cement (-180 points), Technology (-63 points), Engineering (-35 points), Textile Composite (-31 points) and Refinery (-25 points).
Volumes decreased from 386.8 million shares to 287.7 million shares (25.6 per cent DoD). Traded value also decreased by 26.9 per cent to reach US$ 58.1 million as against US$ 79.6 million.
Stocks that contributed significantly to the volumes include WTL, TPLP, BYCO, UNITY and TRG.
KARACHI: The Pakistan Stock Exchange (PSX) faced a severe downturn on Thursday, with the benchmark KSE-100 index plummeting by 2,135 points in response to unfavorable reports on the fiscal front.
KARACHI: The share market witnessed an increase of 297 points on Wednesday due to trading activity seen in the banking sector following an unexpected rise in inflation.
Analysts at Arif Habib Limited said that the KSE-100 index stayed in the green zone throughout the day as the market celebrated the transition from emerging to frontier market.
The index opened with a bullish momentum as traders took an aggressive bet on cement, steel, and technology stocks.
Later, accumulation was witnessed in the banking sector as CPI for the month of November 2021 clocked in at 11.53 per cent YoY (+3 per cent MoM), the highest inflation in 21 months influenced by a record hike in fuel prices.
In the last trading hour, a sharp upside was witnessed as short-sellers jumped into square-off trading positions.
Sectors contributing to the performance include Cement (+113 points), Commercial Banks (+85 points), Fertilizer (+32 points), E&P (+20 points) and Power (+16 points).
Volumes decreased from 411.5 million shares to 241.1 million shares (-41.4 per cent DoD). Traded value also decreased by 73.5 per cent to reach US$ 52.6 million as against US$ 198.4 million.
Stocks that contributed significantly to the volumes include FFL, FFLR1, TPLP, MLCF and TRG.
KARACHI: Shares at Pakistan Stock Exchange (PSX) witnessed a decline of 258 points on Tuesday amid hefty volumes. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,072 points as against the previous day’s closing of 45,330 points.
Analysts at Arif Habib Limited said that on the MSCI rebalancing day, the KSE-100 index witnessed a volatile session as it made a dicey move of more than 1,000 points, making a close above 45,000 points benchmark.
The E&P sector stayed in the limelight as the government is considering a scheme to reduce the stock of the circular debt by declaring dividends for the shareholders of energy sector companies.
In the last two trading hours, Institutional investors accumulated across the board as it was the last opportunity to catch foreign selling spree due to the transition from emerging to frontier market. Mainboard stocks witnessed hefty volumes today.
Sectors contributing to the performance include Commercial Banks (-160 points), Fertilizer (-78 points), Inv. Banks (-18.3 points), FMCG (-16.2 points) and Textile Composite (-12.8 points).
Volumes increased from 268.2 million shares to 411.5 million shares (+53.4 per cent DoD). Traded value increased by 219.4 per cent to reach US$ 198.2 million as against US$ 52.0 million.
Stocks that contributed significantly to the volumes include HBL, FNEL, UBL, TRG and MCB.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,330 points as against last Friday’s closing of 44,114 points, showing an increase of 1,216 points or 2.8 per cent.
Analysts at Arif Habib Limited said that the KSE-100 index witnessed a bull-run as it gained more than 1,200 points in intraday trading to cross 45,000 points today, lifted by the cabinet approval to revive Saudi Arabia’s $3 billion support package for Pakistan in safe deposits and $1.2 billion worth of oil supplies on deferred payments.
A major dip in crude oil prices created positive momentum in the market despite the emergence of a new variant of Covid-19.
The perception of investors towards the last leg of the foreign selling spree being completed last week created an opportunity for intra-day traders.
Sectors contributing to the performance include Commercial Banks (+283 points), Cement (+211 points), E7P (+139 points), Fertilizer (+100 points) and OMC’s (+76 points).
Volumes decreased from 289.8 million shares to 268.2 million shares (-7.5 per cent DoD). Traded value increased by 6.1 per cent to reach US$ 61.9 million as against US$ 58.3 million.
Stocks that contributed significantly to the volumes include FFLR1, TPLP, WTL, BYCO and FNEL.
