Tag: PSX

KARACHI: The stock market witnessed a gain of 457 points on Tuesday in mixed trading sessions. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,275 points as against the previous day’s closing of 44,818 points, showing an increase of 457 points.

Analysts at Arif Habib Limited said that initially the market traded in a narrow range, oscillating between -71 points and +120 points, but gathered pace by the end of session to add a total of 477 points, closing the session at a high note.

OGDC posted the result early on and declared below expectation dividend that dragged the price down.

The stock price went up (although remained below LDCP) after the announcement of a discovery.

Uptick was witnessed in Technology, Cement, Steel, Banks, O&GMCs and Refinery sectors.

POL added a formidable gain as an exception to OGDC and PPL. Tech sector saw AVN, TELE and NETSOL hitting upper circuits. Among scrips, TELE led the volumes with 35.8 million shares, followed by BYCO (33.5 million) and WTL (21.3 million).

Sectors contributing to the performance include Technology (+157 points), Refinery (+40 points), O&GMCs (+35 points), Fertilizer (+32 points) and Textile (+29 points).

Volumes increased from 301.9 million shares to 364.9 million shares (+21 per cent DoD). Average traded value also increased by 25 per cent to reach US$ 82.5 million as against US$ 65.7 million.

Stocks that contributed significantly to the volumes include TELE, BYCO, WTL, NCL and UNITY, which formed 34 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+126 points), MEBL (+36 points), POL (+33 points), SYS (+26 points) and UNITY (+24 points). Stocks that contributed negatively include COLG (-24 points), MCB (-22 points), OGDC (-19 points), HMB (-11 points) and PPL (-8 points).

Share market derails after PKR record low

KARACHI: The share market posted a decline of 256 points on Monday owing to slippage in Pak Rupee (PKR) value against the dollar.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,817 points as against last Friday’s closing of 45,074 points.

Analysts at Arif Habib Limited said that market posted gains of 163 points earlier in the session, but faced the onslaught sooner which caused the erosion of these gains and netting a loss of 732 points during the session.

Leveraged positions mostly got thrashing, however, resumption of PKR slippage was another reason cited for the panic selling in market.

Volumes remained thin compared with the activity in recent times, where ample volumes were witnessed in blue chips.

Fertilizer, E&P, O&GMCs, Cement stocks saw quick paced buying by the end of session that helped the index pull back. Among scrips, UNITY topped the volumes with 34.4 million shares, followed by WTL (32.6 million) and BYCO (31.9 million).

Sectors contributing to the performance include Banks (-101 points), Refeinery (-34 points), Paper and Board (-25 points), Inv Banks (-23 points) and Pharma (-20 points).

Volumes declined from 369.5 million shares to 301.4 million shares (-19 per cent DoD). Average traded value also declined by 5 per cent to reach US$ 65.9 million as against US$ 69.5 million.

Stocks that contributed significantly to the volumes include UNITY, WTL, BYCO, HUMNL and BAFL, which formed 40 per cent of total volumes.

Stocks that contributed positively to the index include SYS (+50 points), FFC (+18 points), MTL (+8 points), KTML (+7 points) and EPCL (+7 points). Stocks that contributed negatively include TRG (-51 points), HBL (-51 points), MEBL (-29 points), UBL (-18 points) and PSO (-16 points).

Weekly Review: jittery sentiments likely

KARACHI: Investors’ sentiments are likely jittery during the next week owing to measures taken by the government to curtail import bill.

Analysts at Arif Habib Limited said that with the government making all efforts to restrict imports, tax collection (silver lining in the domestic economic climate at the moment), may also be hurt.

Market sentiments may be tested once again with the government proposing a hike in gas/electricity tariffs.

However, the resumption of the IMF program next month could provide a breather.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.3x (2021) compared to Asia Pac regional average of 14.4x while offering a dividend yield of 8.1 per cent versus 2.3 per cent offered by the region.

This week marked the current fiscal year’s worst-performing week to date (second on CY basis), the equity bourse closed at 45,074 points (down by 3.4 per cent / 1,563 points WoW).

Amid rising demand and the upcycle in international commodities exacerbating the deficit on the external front, raising red flags over future CPI readings and building pressure on the Pak Rupee, the SBP commenced tapering its monetary stimulus.

A 25 basis points hike in the policy rate, shifting the focus from prioritizing growth to now ensuring sustainability, was put into effect to stop the economy from overheating.

While the government also adopted other measures to curtail demand such as tightening regulatory and consumer financing policies for auto consumers. Hence, investors remained on the edge.

Sector-wise negative contributions came from i) Technology (275 points), ii) Cement (196 points), iii) Commercial banks (148 points), iv) Fertilizer (137 points), and v) E&P (134 points). Whereas, sectors which contributed positively were i) Miscellaneous (41 points), and ii) Chemical (3 points). Scrip-wise negative contributors were TRG (142 points), SYS (124 points), HBL (71 points), OGDC (70 points) and PPL (55 points). Meanwhile, scrip-wise positive contribution came fr om PSEL (46 points), MCB (18 points) and BAFL (15 points).

Foreign buying was witnessed this week, settling at USD 6.7 million compared to a net sell of USD 10.9 million last week. Major buying was witnessed in Other Sectors (USD 6.1 million), Technology and Communication (USD 3.0 million) and Oil and Gas Marketing Companies (USD 1.8 million). On the local front, selling was reported by Individuals (USD 7.5 million) followed by Companies (USD 3.5 million). Average volumes clocked-in at 384 million shares (down by 4 per cent WoW) while average value traded settled at USD 73 million (down by 18 per cent WoW).

KSE-100 index plunges by 1,562 points in week

KARACHI: The benchmark KSE-100 index of the  Pakistan Stock Exchange (PSX) plunged by 300 points on Thursday. The stock market witnessed a decline due to selling pressure observed later in the day.

The KSE-100 index closed at 45,297 points as against the previous day’s closing of 45,597 points.

Analysts at Arif Habib Limited said that the market saw a rebound early on with the Index climbing 342 points, however, profit booking overtook and eventually converted into aggressive selling that eroded the gains made earlier with a drop of 514 points near the close.

Technology, Banks, E&P, O&GMCs and Refinery sectors got the most thrashing with a little bit of respite in the Cement sector. Among scrips, WTL realized a trading volume of 89.1 million shares followed by HUMNL (29.2 million) and TELE (23.3 million).

Sectors contributing to the performance include Technology (-91 points), E&P (-52 points), Banks (-39 points), Fertilizer (-33 points) and Refinery (-30 points).

Volumes declined from 583.7 million shares to 443.8 million shares (-24 per cent DoD). Average traded value also declined by 29 per cent to reach US$ 73.3 million as against US$ 102.9 million.

Stocks that contributed significantly to the volumes include WTL, HUMNL, TELE, TREET and BYCO, which formed 39 per cent of total volumes.

Stocks that contributed positively to the index include ABOT (+24 points), EPCL (+13 points), MTL (+11 points), HUBC (+10 points) and HMB (+9 points). Stocks that contributed negatively include TRG (-64 points), PPL (-27 points), MCB (-27 points), SYS (-27 points) and OGDC (-26 points).

KARACHI: The stock market ended down by 412 points on Wednesday despite making a recovery in intraday massive fall.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,597 points as against previous close of 46,009 points.

Analysts at Arif Habib Limited said that the market continued trending downward today and lost a total of 1221 points during the session and closed -412 points while posting partial recovery.

Leveraged positions of retail investors played havoc on the market today, which received margin calls after continuous declines witnessed in the Index for the past couple of sessions.

Besides, negative news flow relating to MCB Bank employee having implication in the Money Laundering case, also dented the sentiment.

Technology and Refinery sectors got hurt the most, however, selling pressure was also observed in Cement, Steel, Fertilizer, Banks and E&P sectors. Among scrips, WTL led the table with 90.9 million shares, followed by ANL (36.1 million) and HUMNL (34 million).

Sectors contributing to the performance include Technology (-77 points), E&P (-40 points), Textile (-38 points), Fertilizer (-35 points) and Refinery (-33 points).

Volumes increased further from 325.8 million shares to 583.7 million shares (+79 per cent DoD). Average traded value also increased by 41 per cent to reach US$ 103.1 million as against US$ 73.1 million.

Stocks that contributed significantly to the volumes include WTL, AN, HUMNL, BYCO and TELE, which formed 38 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+26 points), MCB (+11 points), SNGP (+9 points), FCCL (+9 points) and INIL (+8 points). Stocks that contributed negatively include TRG (-38 points), SYS (-38 points), HBL (-25 points), UBL (-20 points) and CHCC (-16 points).

KSE-100 index plunges 519 points amid selling

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) plunged by 519 points on Tuesday due to across-the-board selling on closing.

The benchmark index ended at 46,009 points as against the previous day’s close of 46,528 points.

Analysts at Arif Habib Limited said that the market posted an increase of 305 points during the session early on, however lost that gain and by the end of session lost a total of 1055 points (including the erosion of 305 points earned earlier).

At closing, the market saw a steep decline. Selling was witnessed across the board, with heavy implications on Technology and Cement sectors.

Despite low leverage level in the market in DFC, MTS and MFS segments, index melted due to calls of redemption at Mutual Funds.

Regardless of the steep decline in Index, overall trading volumes remained low compared to the hay days seen in outgoing fiscal. Among scrips, TELE realized trading volumes of 28.1 million shares, followed by WTL (26.4 million) and TPL (21.4 million).

Sectors contributing to the performance include Cement (-101 points), Technology (-81 points), Banks (-45 points), Fertilizer (-39 points) and E&P (-34 points).

Volumes increased from 194.7 million shares to 325.9 million shares (+67 per cent DoD). Average traded value also increased by 53 per cent to reach US$ 73.1 million as against US$ 47.9 million.

Stocks that contributed significantly to the volumes include TELE, WTL, TPL, BYCO and TRG, which formed 33 per cent of total volumes.

Stocks that contributed positively to the index include HMB (+18 points), MCB (+18 points), BAFL (+14 points), ANL (+14 points) and COLG (+7 points). Stocks that contributed negatively include SYS (-53 points), MEBL (-37 points), HBL (-34 points), LUCK (-32 points) and TRG (-23 points).

KARACHI: The stock market ended down by 108 points on Monday amid low volumes recorded during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,528 points as against last Friday’s closing of 46,636 points.

Analysts at Arif Habib Limited said that the market took a bantering on the first day of the rollover week and lost a total of 421 points during the session, closing -108 points.

The sentiment got dented early on which was obvious from the low volumes at the bourse, where the benchmark KSE-100 posted a total of 75.2 million shares, and All Shares Index posted 195 million. Technology, Oil & Gas chain (E&P, OMCs, Refinery) tumbled, whereas limited positive activity was observed in Power and Cement sectors.

 Monetary policy, which was to be announced after market close, met a hike of 25bps against street consensus of No Change. Among scrips, TELE topped the volumes with 19.8 million shares, followed by WTL (13.3 million) and BYCO (11.3 million).

Sectors contributing to the performance include E&P (-33 points), Textile (-26 points), Fertilizer (-16 points), Misc (+45 points) and Banks (+16 points).

Volumes declined from 387.2 million shares to 194.7 million shares (-50 per cent DoD). Average traded value also declined by 51 per cent to reach US$ 47.9 million as against US$ 96.2 million.

Stocks that contributed significantly to the volumes include TELE, WTL, BYCO, TRG and TPLP, which formed 33 per cent of total volumes.

Stocks that contributed positively to the index include PSEL (+46 points), MCB (+42 points), UBL (+20 points), LUCK (+13 points) and SNGP (+11 points). Stocks that contributed negatively include OGDC (-22 points), SYS (-17 points), KOHC (-14 points), ENGRO (-14 points) and MEBL (-13 points).

Weekly Review: market likely to stay positive

KARACHI: The stock market is likely to stay positive during next week owing to upcoming IMF talks and ease in infection cases of coronavirus.

Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week attributable to talks with IMF for the sixth tranche to start at the end of the current month.

On the other hand, the decline in the infection ratio of the novel coronavirus in Pakistan and a slowdown in global oil prices would relieve pressure off the external account.

However, current macro-economic concerns such as rising imports, higher inflation due to increasing petroleum prices and pressure on currency could deteriorate investors’ sentiment.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2021) compared to the Asia Pacific regional average of 14.4x while offering a dividend yield of 7.9 per cent versus 2.3 per cent offered by the region.

During the outgoing week, trading activity remained jittery amid macro-economic concerns which included: Rupee slumping to an all-time low of 169.1 against USD; expectation of higher current account deficit due to rising imports which could stress reserves; temporary suspension of gas supply to general industries; and higher international commodity prices.

However, sentiment started reviving amid i) some recovery in the currency parity, ii) slowdown in Covid-19 cases which resulted in relaxation in restrictions in Sindh, and iii) restoration of gas supply to general industries.

As a result, the KSE-100 index closed at 46,636 points, down by 562 points or 1.19 per cent WoW.

Sector-wise negative contributions came from i) Cement (287 points), ii) Refinery (55 points), iii) Oil & Gas Marketing Companies (54 points), iv) Food & Personal Care Products (51 points), and v) Technology & Communication (44 points).

Whereas sectors which contributed positively were i) Commercial Banks (130 points), ii) Tobacco (6 points) and iii) Synthetic & Rayon (5 points). Scrip-wise negative contributors were LUCK (131 points), MEBL (102 points), SYS (70 points), MLCF (43 points) and DGKC (41 points).

Meanwhile, scrip-wise positive contribution came from UBL (73 points), HBL (56 points) and FFC (50 points).

Foreigners offloaded stocks worth of USD 10.9 million compared to a net sell of USD 18.6 million last week. Major selling was witnessed in Commercial Banks (USD 12.7 million) and All other Sectors (USD 2.2 million). On the local front, buying was reported by Individuals (USD 16.8 million) followed by Banks/DFI (USD 7.3 million). Average volumes clocked in at 400 million shares (down by 7 per cent WoW) while average value traded settled at USD 90 million (up by 3 per cent WoW).