Tag: PSX

The stock market witnessed a significant surge on Wednesday, with the benchmark KSE-100 index gaining 593 points, closing at 45,450 points compared to the previous day’s close of 44,857 points.

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KARACHI: The share market gained 91 points on Tuesday amid trading in narrow range during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,857 points as against previous day’s closing of 44,767 points, showing an increase of 91 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range after posting an increase of around 2500 points from 42,700 level in the past 2 sessions.

Leveraged positions continued causing jitters every now and then, which kept activity in tech stocks as well as food sector a bit volatile.

Cement sector stocks went up earlier in the session, however, selling pressure brought the levels down by the end of session. Besides Cement, O&GMCs, Steel and E&P sectors bore selling pressure.

Among scrips, UNITY led the table with 37.2 million shares, followed by TELE (35.6 million) and TRG (28.5 million).

Sectors contributing to the performance include Tech (+124 points), Banks (+60 points), Fertilizer (+42 points), Textile (+23 points), Cement (-54 points), O&GMCs (-28 points), Power (-28 points), and E&P (-27 points).

Volumes declined from 455.5 million shares to 408.3 million shares (-10 percent DoD). Average traded value also declined by 9 percent to reach US$ 127.5 million as against US$ 140.1 million.

Stocks that contributed significantly to the volumes include UNITY, TELE, TRG, GGL and PRL, which formed 34 percent of total volumes.

Stocks that contributed positively to the index include TRG (+104 points), HBL (+28 points), EFERT (+21 points), MEBL (+19 points) and SYS (+15 points). Stocks that contributed negatively include HUBC (-37 points), PSO (-17 points), DGKC (-14 points), MLCF (-12 points) and OGDC (-12 points).

KARACHI: The share market gained 979 points on Monday owing to positive sentiments prevailed on stable political front.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,767 points as against last Friday’s closing 43,788 points showing an increase of 979 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today and added a total of 1051 points, similar to the performance witnessed on Friday.

Leveraged positions have come off lately, whereby leverage in MTS, MFS and Futures stood Rs. 45 billion on March 8^th, and by the end of the week declined to Rs. 35 billion.

The Govt’s win of Senate chairmanship also helped investors make view on index. Buying was witnessed across the board, with Cement and Steel sectors contributing the most to the Index.

Among scrips, TRG led the volumes with 24.8 million shares, followed by UNITY (23.6 million) and FCCL (21.1 million).

Sectors contributing to the performance include Cement (+170 points), Technology (+152 points), O&GMCs (+100 points), Banks (+92 points) and Power (+79 points).

Volumes increased from 442.5 million shares to 455.6 million shares (+3 percent DoD). Average traded value also increased by 2 percent to reach US$ 139.9 million as against US$ 137.5 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, FCCL, BYCO and KEL, which formed 24 percent of total volumes.

Stocks that contributed positively to the index include TRG (+97 points), PSO (+71 points), LUCK (+58 points), SYS (+54 points) and HUBC (+47 points). Stocks that contributed negatively include ENGRO (-12 points), MCB (-5 points), PKGS (-4 points), MUREB (-4 points) and HGFA (-4 points).

KARACHI: The stock market is likely to regain due to boost in investor confidence after a major political sigh of relief for the ruling government.

Analysts at Arif Habib Limited said that with the government’s candidate successfully retaining his position as Chairman Senate, we view this as a major political sigh of relief for the ruling government.

“We expect this to stimulate renewed confidence and stability in the political climate, which should help recover sentiment in the local bourse,” they said.

We do highlight that rising COVID cases, and rising oil prices are factors that could keep market performance in check.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2021) compared to Asia Pac regional average of 17.4x and while offering DY of ~7.1 percent versus ~4.5 percent offered by the region.

Despite PM Imran Khan successfully winning a vote of confidence in the National Assembly, the domestic bourse witnessed a severe hammering throughout the week against expectations.

Concerns persisted with regards to uncertainty over the senate chairman election.

The opposition’s plans regarding “Long March” towards the end of March contributed further to the prevailing political noise.

Furthermore, Election Commission of Pakistan rejected a plea of the Government to stop the issuance of the notification for the opposition candidate’s victory in the senate elections.

Once again this was seen by the investors as a source of further instability on the political front. Besides politics, concerns over rising inflation (low-base effect), creeping up oil prices, news regarding possible withdrawal of corporate tax exemptions and resurgence in COVID-19 cases, further dented the sentiment.

Meanwhile, on the last working day, investors’ expectation of the Government candidate retaining his position as Chairman Senate helped to revive sentiments.

The market settled at 43,788 points, shedding 2,049 points (down by 4.5 percent) WoW.

This week was the worst week in terms of points as well as percentage over the last almost one year (week ending March 27, 2020 saw a decline of 2,558 points/8.34 percent WoW).

Sector-wise negative contributions came from

i) Technology & Communication (353 points),

ii) Cement (304 points),

iii) Fertilizer (224 points),

iv) Oil & Gas Exploration (169 points) and

v) Pharmaceuticals (143 points).

Whereas sectors that contributed positively include i) Insurance (22 points) and ii) Tobacco (2 points).

Scrip-wise negative contributors were TRG (278 points), LUCK (135 points), ENGRO (107 points), PPL (68 points) and SYS (67 points) while positive contributors included AICL (25 points), BAHL (21 points) and MCB (11 points).

Foreign buying this week clocking-in at USD 3.6 million compared to a net sell of USD 10.7 million last week. Buying was witnessed in Commercial Banks (USD 2.3 million) and Food and Personal Care Products (USD 0.4 million). On the domestic front, major selling was reported by Mutual Funds (USD 9.1 million) and Insurance Companies (USD 5.6 million).

Average volumes arrived at 433 million shares (up by 12 percent WoW) while average value traded settled at USD 138 million (up by 7 percent WoW).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,788 points from previous day’s closing of 42,780 points, showing an increase of 1,008 points.

Analysts at Arif Habib Limited said that post clearance of leveraged positions of Individual investors, market bounced back today with a jump of 1206 points during the session and a net increase of 1008 points at the end of session.

Cement and Steel sectors contributed significantly to the surge in index. Technology stocks, which were the subject of leveraged positions, bounced back from session’s low, however, by the end of session selling commenced back in tech stocks, which brought the index down from session’s high.

Besides, excitement of senate elections also had some bearing on the stock market, where a win on Government’s part was considered to be a source of confidence for the Investors.

Among scrips, UNITY topped the volumes with 88.2 million shares, followed by TRG (38.8 million) and JSCL (17.7 million).

Sectors contributing to the performance include Cement (+223 points), Banks (+151 points), E&P (+90 points), Power (+83 points) and O&GMCs (+70 points).

Volumes increased from 406.1 million shares to 442.4 million shares (+9 percent DoD). Average traded value also increased by 22 percent to reach US$ 137.4 million as against US$ 112.7 million.

Stocks that contributed significantly to the volumes include UNITY, TRG, JSCL, PRL and TELE, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+76 points), HUBC (+61 points), HBL (+46 points), PSO (+43 points) and SYS (+43 points). Stocks that contributed negatively include ANL (-9 points), ENGRO (-6 points), TRG (-4 points), ABOT (-2 points) and SHFA (-2 points).

KARACHI: The stock market witnessed a massive fall of 912 points on Thursday as selling pressure continued over negative sentiments.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 42,780 points as against previous day’s closing of 43,692 points, showing a decline of 912 points.

Analysts at Arif Habib Limited said that the market saw another thrashing of 1003 points after posting an increase of 199 points during the session.

Selling pressure kept building up by the end of session, where several stocks hit lower circuits, however, periodic buying contained the losses to -912 points by the end of session.

Cement sector saw buying activity, whereas Banks, E&P, Power, O&GMC sectors contributed most to the decline in Index.

Though FBR gave clarification on withdrawal of tax exemptions, the investors remained perturbed on anticipation of levy of additional taxes that made the leveraged investors closing their positions at market rates rather than meeting the margin requirements.

In addition, tomorrow’s senate elections also had bearing on today’s session, where investors preferred staying away from the market than bearing the brunt from any surprise as was witnessed in the previous week.

Among scrips, UNITY led the volumes with 34.8 million shares, followed by TRG (27.1 million) and HUMNL (21.4 million).

Sectors contributing to the performance include Banks (-139 points), E&P (-118 points), Technology (-98 points), Textile (-74 points) and Cement (-70 points).

Volumes increased from 363.2 million shares to 406 million shares (+12 percent DoD). Average traded value, on the contrary, declined by 16 percent to reach US$ 112.8 million as against US$ 134.6 million.

Stocks that contributed significantly to the volumes include UNITY, TRG, HUMNL, WTL and KEL, which formed 30 percent of total volumes.

KARACHI: The stock exchange declined by 531 points on Wednesday as investors preferred selling in the wake of government decision to withdraw tax exemptions and increase in electricity tariff.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,692 points as against previous day’s close of 44,223 points, showing a decline of 531 points.

Analysts at Arif Habib Limited said that the market continued the down trend. Anticipation of government’s withdrawal of tax exemption in the wake of IMF program, increase in electricity tariff and deferment of increase in petroleum prices have Investors selling positions across the board with pressure points in Tech, Cement, Steel and O&GMC sectors. Redemptions from Mutual funds and Insurance companies maintained the selling pressure on stocks.

Among scrips, TRG topped the volumes with 38.1 million shares, followed by UNITY (24.8 million) and GGL (19.1 million).

Sectors contributing to the performance include Technology (-130 points), Cement (-60 points), Fertilizer (-52 points), Power (-46 points) and O&GMCs (-32 points).

Volumes declined from 492.3 million shares to 363.2 million shares (-26percent DoD). Average traded value also declined by 10percent to reach US$ 134.5 million as against US$ 149.1 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, GGL, FFBL and PRL, which formed 31percent of total volumes.

Stocks that contributed positively to the index include UBL (+12 points), MEBL (+11 points), AICL (+11 points), BAHL (+10 points) and FCCL (+8 points). Stocks that contributed negatively include TRG (-76 points), SYS (-52 points), LUCK (-43 points), HUBC (-35 points) and HBL (-31 points).

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 828 points on Tuesday as high inflation and political uncertainty kept investors upset during the day.

The index closed at 44,223 points as against previous day’s closing of 45,051 points, showing a decline of 828 points.

Analysts at Arif Habib Limited said that the market got another thrashing from investors on the back of rising inflation and political uncertainty.

Institutional investors are known to face redemptions from investors, which resulted in offloading of recently bought positions, especially in Cement and Steel sectors.

Expectation of an increase in inflation leading to a hike in monetary policy has recently caused havoc among investors looking for safe haven stocks.

Resultantly, Power sector saw gradual accumulation particularly KAPCO & HUBC. Banking sector also saw brisk buying with limited price gains.

Cement, Steel, Technology, O&GMC and E&P sectors saw major price reduction. Among scrips, GGL led the volumes with 41.2 million shares, followed by UNITY (33.3 million) and TRG (25.4 million).

Sectors contributing to the performance include Cement (-192 points), Technology (-146 points), E&P (-73 points), Textile (-71 points), O&GMCs (-62 points) and Banks (+20 points).

Volumes increased from 459.8 million shares to 492.3 million shares (+7 percent DoD). Average traded value declined by 5 percent to reach US$ 149.2 million as against US$ 157.6 million.

Stocks that contributed significantly to the volumes include GGL, UNITY, TRG, WTL and PRL, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include UBL (+23 points), MCB (+8 points), MARI (+8 points), HBL (+8 points) and BAHL (+8 points). Stocks that contributed negatively include TRG (-93 points), SYS (-50 points), DGKC (-47 points), LUCK (-43 points) and PSO (-39 points).

KARACHI: The share market plunged by 786 points on Monday owing to high inflation risk following rise in international oil prices and political uncertainty on possible change in Punjab setup.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,051 points as against last Friday’s closing of 45,837 points, showing a decline of 786 points.

Analysts at Arif Habib Limited said that in the aftermath of PM’s vote of confidence from the Parliament, the market saw a heavy draw down with an oscillation of 1583 points posting an increase of 595 points in the early part of the session and dropping by 988 points during the session. The Index closed 786 points.

Political uncertainty emanating from possible change in Punjab’s political setup perturbed investors, at the same time recent rapid upsurge in inflation (primarily international crude oil prices) also caused Investors to think twice about upcoming monetary policy and impact thereof on cyclicals.

Resultantly, cement, steel, O&GMCs saw major attrition today. Over the weekend increase in international crude oil prices helped E&P stocks to stay afloat, however, selling pressure in other stocks also brought pressure in OGDC and PPL as well. Among scrips, ANL topped the volumes with 48.2 million shares, followed by UNITY (45.4 million) and TRG (35.4 million).

Sectors contributing to the performance include Cement (-205 points), Banks (-104 points), Power (-67 points), Autos (-49 points) and Pharma (-46 points).

Volumes increased from 317.2 million shares to 459.8 million shares (+45 percent DoD). Average traded value also increased by 55 percent to reach US$ 157.5 million as against US$ 101.5 million.

Stocks that contributed significantly to the volumes include ANL, UNITY, TRG, PRL and BYCO, which formed 37 percent of total volumes.

Stocks that contributed positively to the index include PAKT (+10 points), POL (+10 points), ANL (+7 points), MEBL (+3 points) and FCEPL (+2 points). Stocks that contributed negatively include LUCK (-85 points), HUBC (-48 points), HBL (-39 points), DGKC (-36 points) and INDU (-24 points).

KARACHI: The share market likely to rebound after Prime Minister Imran Khan successfully attained vote of confidence from the parliament on Saturday.

Analysts at Arif Habib Limited said that a fresh vote of confidence in the PM and his government is certain to stimulate renewed confidence and optimism in the investment climate.

However markets could witness pressure in the case of an adverse outcome. Our top picks are HBL, MCB, UBL, OGDC, MARI, KAPCO, HUBC, FFC, LUCK, ENGRO, NML, ILP, and PSO.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.1x (2021) compared to Asia Pac regional average of 17.2x and while offering DY of ~6.8 percent versus ~4.8 percent offered by the region.

The domestic bourse started the week on a positive note amid expectations of a successful senate election for the ruling government. However the results were a major surprise with the ruling government facing a setback on the hotly contested Islamabad seat, which sent the market tumbling.

PM Imran Khan’s decision to seek a vote of confidence and expectations of success helped rebound sentiment starkly on Friday. The benchmark KSE-100 index closed the week nominally down (-28 points WoW), settling at 45,837 points.

Sector-wise positive contributions came from i) Oil & Gas Exploration Companies (54 points), ii) Power (45 points), and iii) Oil & Gas Marketing Companies (32 points). Whereas sectors that contributed negatively include i) Cement (85 points), ii) Pharmaceuticals (39 points), and iii) Textile weaving (16 points). Scrip-wise positive contributors were KAPCO (42 points), TRG (40 points) and BAFL (39 points) while negative contributors included LUCK (45 points), UBL (41 points) and HBL (37 points).

Foreign selling continued this week clocking-in at USD 10.7 million compared to a net buy of USD 0.3 million last week. Selling was witnessed in Commercial Banks (USD 10.1 million) and Technology and Communication (USD 2.2 million). On the domestic front, major buying was reported by Insurance Companies (USD 8.4 million) and Banks / DFIs (USD 8.0 million). Average volumes arrived at 386 million shares (down by 35 percent WoW) while average value traded settled at USD 129 million (down by 19 percent WoW).