The KSE-100 Index closed at 46,636 points from last day’s closing o 46,920 points.
Analysts at Topline Securities said that the KSE-100 index traded in a positive zone during the first half of the trading session, as the index gained to make an intraday high of 261 points.
However, the pressure was observed during the second half of the trading session, as the index declined to close at 46,636 level (down by 0.6 per cent).
This pressure in the second half of trading session can be attributed to upcoming monetary policy on September 20, 2021, and news that New Zealand cricket team has abandoned their tour of Pakistan and are making arrangements to leave early citing security concern.
Traded volume and value for the day stood at 387 million shares and Rs.16.2 billion respectively. WTL was today`s volume leader with 42 million shares.
Analysts at Arif Habib Limited said that after posting consecutive losses in the past 2 sessions, the index bounced back and put a recovery of 242 points during the session, closing +204 points.
Besides the rebound in Technology sector, E&P stocks posted gains. Cement and O&GMCs remained under selling pressure, whereas nominal gains were witnessed in Steel, Chemical and Banking sector stocks.
Sentiment at the bourse improved after PKR started recovering against USD and posted partial gains in the Interbank market after supposed SBP intervention.
Among scrips, SERFR posted top volumes with 61.6 million shares, followed by WTL (44.8 million) and TRG (32.3 million).
Sectors contributing to the performance include Technology (+90 points), E&P (+49 points), Banks (+42 points), Textile (+29 points) and Vanaspati (+20 points).
Volumes increased from 332.8 million shares to 405.2 million shares (+22 per cent DoD). Average traded value also increased from US$ 68 million to reach US$ 98.2 million (+44 per cent DoD).
Stocks that contributed significantly to the volumes include SERFR, WTL, TRG, UNITY and TELE, which formed 45 per cent of total volumes.
Stocks that contributed positively to the index include TRG (+101 points), OGDC (+25 points), PPL (+23 points), UNITY (+20 points) and FABL (+17 points). Stocks that contributed negatively include AGP (-11 points), MEBL (-9 points), LUCK (-7 points), SYS (-7 points) and MTL (-7 points).
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 175 points on Wednesday owing to historic low of Pak Rupee (PKR) against the dollar.
The index closed at 46,717 points as against previous day’s closing of 46,891.
Analysts at Arif Habib Limited said that the market continued the downtrend following the slippage in PKR parity with USD that deteriorated further to touch 169.70 in interbank and crossed 170 in open market.
Unabated foreign selling coincided with local mutual funds disposing positions on the pretext of redemptions. Cement, E&P, O&GMCs, Refinery sectors bore the brunt of persistent selling. Limited buying interest was observed in Technology stocks which came down in the past couple of sessions.
Among scrips, TPL led the volumes table with 29.6 million shares, followed by TELE (28.1 million) and BYCO (23.2 million).
Sectors contributing to the performance include Cement (-83 points), Textile (-22 points), Pharma (-21 points), E&P (-20 points) and Banks (+45 points).
Volumes declined from 479.8 million shares to 332.8 million shares (-31 per cent DoD). Average traded value also dropped by 24 per cent to reach US$ 67.6 million as against US$ 88.9 million.
Stocks that contributed significantly to the volumes include TPL, TELE, BYCO, SERFR and WTL, which formed 36 per cent of total volumes.
Stocks that contributed positively to the index include UBL (+30 points), TRG (+22 points), FFBL (+15 points), BAHL (+15 points) and FABL (+12 points). Stocks that contributed negatively include MLCF (-21 points), HMB (-18 points), SYS (-17 points), AGP (-17 points) and MEBL (-16 points).
KARACHI: The stocks witnessed a decline of 379 points on Tuesday owing to selling pressure witnessed during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,891 points as against the previous day’s closing of 47,270 points.
Analysts at Arif Habib Limited said that the market tumbled mainly as a result of redemptions at mutual funds’ end.
On the other hand, negative news triggers on the slippage of PKR parity with USD, US State Secretary’s hint on revisiting US – Pakistan relations and pending IMF review had bearing on the Index.
Selling was observed across the board with Technology, E&P, Cement and Steel sectors leading the downside on Index.
Financial results announced today also failed to impress the investors. Refinery sector faced the onslaught with failure in approval of Refinery Policy as reported in newspapers, especially BYCO.
Among scrips, BYCO led the volumes with 71.6 million shares, followed by TELE (51.2 million) and WTL (25.3 million).
Sectors contributing to the performance include Cement (-96 points), Refinery (-52 points), E&P (-45 points), Technology (-39 points) and O&GMCs (-28 points).
Volumes increased from 395.8 million shares to 479.8 million shares (+21 per cent DoD). Average traded value, on the other hand, declined by 7 per cent to reach US$ 89.0 million as against US$ 95.8 million.
Stocks that contributed significantly to the volumes include BYCO, TELE, WTL, ANL and HUMNL, which formed 40 per cent of total volumes.
Stocks that contributed positively to the index include HBL (+36 points), HMB (+22 points), FFC (+9 points), DCR (+6 points) and PKGS (+5 points). Stocks that contributed negatively include LUCK (-44 points), TRG (-24 points), OGDC (-23 points), DGKC (-19 points) and BYCO (-18 points).
Analysts at Arif Habib Limited said that the market consolidated the gains made in the previous sessions with profit booking in technology, cement, steel and refinery sectors, whereas the index got some support from banks and power sector.
Technology sector saw selling pressure that brought AVN and other tech stocks down, despite hitting a historic IPO of Octopus Digital in the previous week.
Among scrips, BYCO topped the volumes with 44.9 million shares, followed by SERFR (42.1 million) and TPLP (41 million).
Sectors contributing to the performance include Banks (+85 points), E&P (+21 points), Power (+20 points), Pharma (+16 points), Technology (-44 points) and Cement (-17 points).
Volumes declined from 427.4 million shares to 395.8 million shares (-8 per cent DoD). Average traded value also declined by 11 per cent to reach US$ 96.3 million as against US$108.1 million.
Stocks that contributed significantly to the volumes include BYCO, SERFR, TPLP, TELE and TPL, which formed 45 per cent of total volumes.
Stocks that contributed positively to the index include UBL (+66 points), HBL (+33 points), AGP (+20 points), COLG (+18 points) and HUBC (+18 points). Stocks that contributed negatively include TRG (-36 points), MEBL (-35 points), BAHL (-14 points), PIOC (-8 points) and MLCF (-8 points).
KARACHI: The stock market is likely to witness range-bound activity during the next week due to concerns over inflation and the devaluation of the Pak Rupee.
Analysts at Arif Habib Limited said that the market to remain range-bound in the upcoming week.
Keeping in view concerns over inflation, devaluation of Pak Rupee against the greenback and current account deficit, investors are expected to have a cautious approach.
Moreover, with the ongoing result season, certain sectors and scrips are expected to stay under limelight.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) is currently trading at a PER of 5.8x (2021) compared to Asia Pac regional average of 14.5x while offering a dividend yield of 7.8 per cent versus 2.2 per cent offered by the region.
The market commenced on a negative note owing to continuing pressure from the last closing amid concerns over a trade deficit of USD 4.1 billion in August 2021.
Furthermore, the surge in remittances by 27 per cent YoY to USD 2.7 billion in August 2021 improved the sentiment. That said, the market closed at 47,198 points, climbing up by 241 points (up by 0.5 per cent) WoW.
Sector-wise positive contributions came from i) Technology & Communication (214 points), ii) Miscellaneous (168 points), iii) Commercial Banks (148 points), iv) Pharmaceuticals (59 points), and v) Food & Personal Care Products (14 points).
Whereas, sectors which contributed negatively were i) Cement (155 points), ii) Oil & Gas Exploration Companies (56 points) and iii) Fertilizer (34 points).
Scrip-wise positive contributors were PSEL (164 points), MEBL (147 points), SYS (115 points), TRG (99 points) and NESTLE (39 points). Meanwhile, scrip-wise negative contribution came from LUCK (103 points), HBL (57 points) and ENGRO (51 points).
Foreign selling continued this week, settling at USD 18.6 million against a net sell of USD 5.9 million last week. Selling was witnessed in Commercial Banks (USD 10.9 million), Cement (USD 6.1 million) and Exploration and Production (USD 0.9 million).
On the domestic front, major buying was reported by Individuals (USD 12.9 million) and Insurance Companies (USD 6.2 million). Average volumes clocked-in at 429 million shares (down by 7 per cent WoW) while average value traded settled at USD 87 million (up by 5 per cent WoW).
KARACHI: The benchmark KSE-100index of the Pakistan Stock Exchange (PSX)gained 573 points on Friday. The index gained owing to positive sentiments prevailed during the day.
Analysts at Topline Securities said that a positive session was observed at the exchange, as the index gained to close 1.23 per cent higher.
A major contribution to the index came from MEBL, TRG, LUCK, SYS and PSEL, as they cumulatively contributed 345 points to the index.
Traded volume and value for the day stood at 427 million shares and Rs.18.1 billion respectively.
ANL was today`s volume leader with 40 million shares.
Analysts at Arif Habib Limited said that the market moved up today after downward adjustment witnessed yesterday in the outcome of MSCI reclassification of Pakistan from Emerging market to Frontier market.
Technology, Cement, O&GMCs, Fertilizer sector stocks performed well. Steel and Refinery sectors remained laggard today.
Octopus Digital scored high on the first day of its IPO, where the target quantity was met in the first 24 mins after opening of bidding session, whereas the total bid size against issue size of 27.35 million shares crossed 6x on the first day.
This helped AVN hit upper circuit, which is the parent company of Octopus digital. Among scrips, GGL traded the most with 56.6 million shares, followed by TELE (41.1 million) and WTL (20.3 million).
Sectors contributing to the performance include Technology (+58 points), Banks (+49 points), Misc (+38 points), Fertilizer (+36 points), and E&P (+31 points).
Volumes declined from 477.8 million shares to 396.4 million shares (-17 per cent DoD). Average traded value however, increased by USD 98.6 million as against USD 87.6 million.
Stocks that contributed significantly to the volumes include GGL, TELE, WTL, TPL and SERFR, which formed 38 per cent of total volumes.
Stocks that contributed positively to the index include PSEL (+43 points), TRG (+34 points), MEBL (+32 points), SYS (+28 points) and ENGRO (+24 points). Stocks that contributed negatively include LUCK (-42 points), HBL (-18 points), PAKT (-8 points), CHCC (-7 points) and PSX (-5 points).
KARACHI: The stock market fell by 333 points on Wednesday as MSCI in its verdict decided to downgrade Pakistan from Emerging Markets to Frontier Market.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,397 points from the previous day’s closing of 46,730 points.
Analysts at Topline Securities said that after a slightly positive opening benchmark KSE-100 Index came under pressure as MSCI in its verdict has decided to downgrade Pakistan from Emerging Markets to Frontier Market which led the market to make an intraday low of 402 points.
Major stock negativity was witnessed from LUCK, ENGRO and OGDC which collectively dented the Index by 171 points.
On the volume and value front, the total traded volume and value clocked in at 477.7 million shares and Rs14.6 billion, respectively.
TPL was today`s volume leader with 39.04 million shares.
New York: MSCI Inc. (NYSE: MSCI) announced on Tuesday that it will reclassify the MSCI Pakistan Indexes from Emerging Markets to Frontier Markets.
The MSCI is a leading provider of critical decision support tools and services for the global investment community.
According to a statement, this conclusion follows feedback received from market participants from its recent Consultation on a Market Reclassification Proposal for the MSCI Pakistan Index.
MSCI will reclassify the MSCI Pakistan Indexes from Emerging Markets to Frontier Markets in one step, coinciding with the November 2021 Semi-Annual Index Review (SAIR).
Based on a simulation using pro forma data as of August 31, 2021, this would lead to the inclusion of four securities in the MSCI Frontier Markets Index with an estimated index weight of 1.90 per cent.
Although the Pakistani equity market meets the requirements for Market Accessibility under the classification framework for Emerging Markets, it no longer meets the standards for Size and Liquidity.
More specifically, index continuity rules, as described in section 2.4 of the MSCI Global Investable Market Indexes Methodology, have been applied since the November 2018 Semi-Annual Index Review to maintain the required three constituents in the MSCI Pakistan Index.
Since the November 2019 SAIR, there have been no securities in the MSCI Pakistan equity universe that meet the Emerging Markets Size and Liquidity criteria within the MSCI Market Classification Framework.
Starting with the November 2021 SAIR, the MSCI Pakistan Indexes will be rebalanced using Size and Liquidity requirements for Smaller, Average Liquidity Frontier Markets as described in section 5.2 of the MSCI Global Investable Market Indexes Methodology.
