Tag: PSX

KARACHI: The stock market likely to stay positive during next week owing to improved economic indicators, analysts said.

The analysts at Arif Habib Limited said that the market to remain green especially cyclical sectors including Cement, Steel, Textile and Automobile amid notable improvement in macros including quick recovery in exports, reduction in trade deficit, stable Pak Rupee, drastic increase in industrial outputs (majority companies operating at maximum capacity) and lower inflation expectation.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.3x (2021) compared to Asia Pac regional average of 13.7x while offering a dividend yield of ~6.2 percent versus ~2.6 percent offered by the region.

This week trading commenced on a negative note due to profit taking which resulted in selling pressure in Cement, Steel, Automobile, and E&P sector.

On Tuesday however, a rebound was witnessed at the index attributable to increase in international oil prices and prospects of consensus between Independent Power Producers and the Government of Pakistan.

On the other hand, increase in fertilizer prices also increased activity in the fertilizer sector. However, honorable Supreme Court of Pakistan announced its reserved verdict on GIDC today whereby industries are required to pay Rs457 billion which once again brought pressure on industries (Fertilizer, Cement, Steel, Chemicals and Textiles).

With that said, the KSE-100 index closed at 40,291 points, up by 261 points or 0.65 percent WoW (eighth consecutive positive week after January 2017).

Contribution to the upside was led by i) Power Generation and Distribution (261 points), ii) Oil and Gas Exploration Companies (97 points), iii) Oil and Gas Marketing Companies (92 points), iv) Commercial Banks (86 points), and v) Textile Composite (29 points).

Scrip wise major gainers were HUBC (213 points), PPL (56 points), UBL (56 points), KAPCO (39 points), and SNGP (36 points). Whereas, scrip wise major losers were DAWH (55 points), ENGRO (49 points) MCB (31 points), EFERT (25 points) and FFC (23 points).

Foreign buying continued this week clocking-in at USD 8.7 million compared to a net buy of USD 3.7 million last week. Buying was witnessed in Cement (USD 4.3 million) and Fertilizer (USD 2.7 million). On the domestic front, major selling was reported by Banks/DFI (USD 10.7 million) and Insurance Companies (USD 5.4 million). That said, average daily volumes and traded value for the outgoing week were down by 9 percent and 14 percent to 581 million shares and USD 125 million, respectively.

KARACHI: The stock market fell by 182 points on Thursday owing to profit taking and the decision of the apex court regarding payment of Gas Infrastructure Development Cess (GIDC).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,291 points as against the previous day’s closing of 40,473 points showing a decline of 182 points.

Analysts at Arif Habib Limited said that the market opened on a positive note on the opening bell with +70 points and 2.8 million shares.

The index tumbled afterwards as Supreme Court announced the decision on GIDC, which required industries to pay Rs. 457 billion on account of GIDC over a period of 2 years. Investors took it as cue to book profits, which brought the index down by 575 points during the session.

E&P, O&GMCs and Tech stocks largely remained unharmed, among which TRG and UNITY hit upper circuits. Fertilizer, Cement and Banking sector stocks remained under pressure throughout the session.

Vanaspati sector led the volumes with 110 million shares, courtesy of UNITY (including the trading volume of its Right Shares).

This was followed by Technology (81.1 million) and O&GMCs (72.8 million). Among scrips, UNITY led the volumes with 60.1 million, followed by HASCOL (50.6 million) and UNITYR2 (50.6 million).

Sectors contributing to the performance include Fertilizer (-201 points), Inv Banks (-27 points), Banks (-19 points), Textile (-19 points), Technology (+31 points), O&GMcs (+29 points), Power (+22 points) and E&P (+18 points).

Volumes declined from 591.3 million shares as against 556.1 million shares (-6 percent DoD). Average traded value also declined by 14 percent to reach US$ 115.2 million as against US$ 133.7 million.

Stocks that contributed significantly to the volumes include UNITY, HASCOL, UNITYR2, WTL and TRG, which formed 41 percent of total volumes.

Stocks that contributed positively to the index include TRG (+37 points), HUBC (+22 points), BAHL (+20 points), SNGP (+15 points) and HASCOL (+13 points). Stocks that contributed negatively include FFC (-114 points), ENGRO (-44 points), MCB (-27 points), EFERT (-26 points) and DAWH (-24 points).

KARACHI: The stock market ended with a decline of 86 points on Wednesday as Supreme Court of Pakistan (SCP) is scheduled to decide Gas Infrastructure Development Cess (GIDC) on August 13, 2020.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,473 points as against 40,559 points showing a decline of 86 points.

Analysts at Arif Habib Limited said that the market added a total of 559 points during the session posting a new recent high of 41,119 points, however, selling pressure brought the index below the opening level.

E&P, Banks, Fertilizer sector contributed to early rise in the Index. Fertilizer sector felt the heat of SC’s decision on GIDC, which is scheduled to be announced tomorrow.

Similarly, HASCOL saw active trading with almost hitting upper circuit breaker and then lower circuit upon notice of grant of permanent license as an OMC in place of existing provisional one.

Index level above 41k, largely prompted profit booking just before the weekend. O&GMCs topped the volumes with 105.1 million shares, followed by Cement (72.8 million) and Technology (69.7 million).

Among scrips, HASCOL led the volumes with 87.3 million shares, followed by TRG (36.3 million) and PRL (32.1 million).

Sectors contributing to the performance include Cement (-57 points), O&GMCs (-33 points), E&P (-29 points), Pharma (-19 points) and Inv Banks (-18 points).

Volumes declined from 600 million shares to 591.2 million shares (-2 percent DoD). Average traded value also declined by 10 percent to reach US$ 133.6 million as against US$ 147.9 million.

Stocks that contributed significantly to the volumes include HASCOL, TRG, PRL, UNITYR2 and MLCF, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include FFC (+60 points), HUBC (+43 points), NBP (+24 points), UBL (+19 points) and TRG (+13 points). Stocks that contributed negatively include PPL (-16 points), MCB (-16 points), LUCK (-16 points), DAWH (-14 points) and PSO (-14 points).

KARACHI: The stock market gained 644 points on Tuesday owing to positive activity seen in energy sector.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,559 points as against 39,915 points showing an increase of 644 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +135 points.

Banks, E&P, OMCs, Cement and Fertilizer stocks helped the index stage recovery from selling that was observed in the past couple of sessions.

The real head turner today happened to be HUBC and KAPCO, of which both hit upper circuit on anticipation of resolution of issues with GOP, as indicated by Advisor to PM on Finance. International crude oil prices remained on the upside, which made E&P stocks post price gains.

Increase in fertilizer prices also contributed to buying activity in Fertilizer sector. Among O&GMCs, SSGC and HASCOL hit upper circuits. O&GMCs posted the most volume with 94.6 million shares, followed by Cement (75.1 million) and Power (72.4 million).

Among scrips, HASCOL topped the volumes with 65.4 million, followed by KEL (36 million) and TRG (31.2 million).

Sectors contributing to the performance include Power (+166 points), E&P (+147 points), Banks (+107 points), Cement (+81 points) and O&GMCs (+64 points).

Volumes increased from 576.5 million shares to 600.0 million shares (+4 percent DoD). Average traded value however, increased by 42 percent to reach US$ 147.7 million as against US$ 104.1 million.

Stocks that contributed significantly to the volumes include HASCOL, KEL, TRG, UNITYR2 and UNITY, which formed 31 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+128 points), PPL (+81 points), UBL (+45 points), LUCK (+43 points) and OGDC (+39 points). Stocks that contributed negatively include TRG (-18 points), BAHL (-15 points), MTL (-10 points), INDU (-9 points) and HCAR (-6 points).

KARACHI: The stock market posted decline of 115 points on Monday owing to selling pressure seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,915 points as against 40,030 points showing a decline of 115 points.

The analysts at Arif Habib Limited said that the market bore selling pressure due to selling activity in Cement, Steel, E&P and Banks.

OMCs and Refinery sectors performed well today, where ATRL and HASCOL hit upper circuit and NRL traded near upper circuit.

Though international crude prices were positive, local E&P companies saw selling pressure due to foreign selling.

Tech stocks took a breather today, which were otherwise rallying unabated, and saw TRG hitting lower circuit on the back of post IPO listing of its related party Ibex. Technology sector topped the volumes with 77.9 million shares, followed by O&GMCs (77.7 million) and Cement (37.2 million).

Among scrips, UNITYR2 led the volumes with 81.6 million, followed by HASCOL (65.3 million) and WTL (35.8 million).

Sectors contributing to the performance include O&GMCs (+31 points), Power (+28 points), Textile (+25 points), Refinery (+13 points), Technology (-48 points), Cement (-45 points), E&P (-40 points), Banks (-24 points) and Insurance (-24 points).

Volumes dropped from 728.8 million to 576.5 million shares (-21 percent DoD). Average traded value also declined by 24 percent to reach US$ 104.2 million as against US$ 136.6 million.

Stocks that contributed significantly to the volumes include UNITYR2, HASCOL, WTL, POWER and TRG, which formed 31 percent of total volumes.

Stocks that contributed positively to the index include MTL (+23 points), HUBC (+20 points), KTML (+16 points), KAPCO (+14 points) and PSO (+13 points). Stocks that contributed negatively include TRG (-41 points), MCB (-19 points), HCAR (-18 points), POL (-16 points) and DAWH (-16 points).

KARACHI: The stock market likely stay positive during next week as smart lockdown is officially ending from Monday August 10, 2020, analysts said.

Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With smart lockdown officially ending on Monday, investor sentiment is set to be positive, although this remains contingent upon containment of COVID-19 cases.

Furthermore, Pak Rupee is expected to remain stable against the USD given augmenting reserves. Moreover, with continuing result season, certain sectors and scrips are expected to stay under limelight.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2021) compared to Asia Pac regional average of 13.5x and while offering DY of ~6.2 percent versus ~2.7 percent offered by the region.

The market commenced on a positive note given further decline in COVID-19 cases post Eid ul Adha. However, bears took over after higher than expected inflation of 9.30 percent was reported.

Although this was short lived as the market rebounded the very next day amid release of cement offtake data for Jul’20, depicting a stunning jump of 41 percent YoY followed by decline in trade deficit (by 15 percent YoY in Jul’20) and surge in SBP’s foreign reserves (by USD 567 million on weekly basis).

Moreover, approval of key projects (ML-1 Railway upgradation worth PKR 11.44 trillion under CPEC by ECNEC along with 4 projects by CDWP worth PKR 16.1 billion) kept the momentum strong. The market closed at 40,030 points, up by 772 points (+2 percent) WoW.

Foreign buying this week clocking-in at USD 3.7 million compared to a net sell of USD 9.7 million last week. Buying was witnessed in Fertilizer (USD 2.2 million) and Cement (USD 2.0 million). On the domestic front, major selling was reported by Insurance Companies (USD 29.4 million and Mutual Funds (USD 11.9 million). Average volumes settled at 638 million shares (up by a massive 64 percent WoW) while average value traded clocked-in at USD 145 million (up by 43 percent WoW).

KARACHI: The share market of Pakistan Stock Exchange (PSX) experienced a wave of selling pressure on the final trading day of the week, with the benchmark KSE-100 index falling by 136 points. The market closed at 40,030 points, down from 40,166 points.

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KARACHI: The stock market fell by 294 points on Tuesday as the market witnessed selling pressure after touching 40,000 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,578 points from previous day’s closing of 39,872 points, showing decline of 294 points.

Analysts at Topline Securities said that the traditional KSE market volatility was seen at the bourse today, where at one point, the index gained to make an intraday high of 459 points.

However, succumbed to selling pressure as investors came in to book their profit above 40,000 index level.

KSE 100 index closed at 39,578 level (down by 0.7 percent) breaking its winning streak.

The index closed in red zone after closing in the green zone for six consecutive trading sessions.

Intraday rally was observed in banking sector, where higher than expected CPI number for the month of June 2020 and increase in yields of government paper in the secondary market garnered investor interest.

Major contribution to the index came from PSX, JLICL, UBL, AGP and DAWH, whereas on the other hand ATRL, TRG, SYS, EPCL and SEARL lost value to weigh down on the index.

Traded volume and value for the day stood at 594 million shares (up by 10 percent on DoD basis) and Rs.26.5 billion (up by 3 percent DoD basis) respectively.

TRG was today`s volume leader with around 45.6 million shares.   

KARACHI: The stock market gained 613 points on Monday amid mixed trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,872 points as against 39,258 points showing an increase of 613 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +131 points and added a total of 670 points on the board to almost touch 40K level. The index also realized highest value traded of Rs 26 billion, which was last observed in 2017.

While E&P stocks saw selling pressure, Cement and banking sectors took the lead and carried the momentum. Release of inflation data caused some selling pressure, however, the same improved prospects for banking sector stocks, which are still trading at relatively low level compared with listed manufacturing sector stocks.

Cement sector garnered 125.5 million shares in trading volumes, followed by Technology (51.8 million) and Engineering (45.5 million). Among scrips, MLCF topped the volumes with 34.9 million, followed by POWER (32.5 million) and TRG (29.9 million).

Sectors contributing to the performance include Banks (+169 points), Cement (+126 points), Fertilizer (+39 points), O&GMCs (+37 points) and Pharma (+34 points).

Volumes increased again from 368.7 million shares to 539.3 million shares (+46 percent DoD). Average trade value also increased by 51 percent to reach US$ 154.2 million as against US$ 102.3 million.

Stocks that contributed significantly to the volumes include MLCF< POWER, TRG, PAEL and KEL, which formed 27 percent of total volumes.

Stocks that contributed positively to the index include HBL (+83 points), LUCK (+54 points), TRG (+35 points), ENGRO (+29 points) and UBL (+25 points). Stocks that contributed negatively include MARI (-14 points), PPL (-13 points), POL (-6 points), OGDC (-5 points), and MEBL (-5 points).