KARACHI: The stock exchange gained 317 points on Tuesday as positive sentiments prevailed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,922 points as against 45,605 points showing an increase of 317 points.
Analysts at Arif Habib Limited said that the market rebounded by posting an increase of 408 points during the session, and closing 317 points.
Though the day began slow and cautious after yesterday’ profit booking, a bounce back in banking sector scrips as well as absence of selling in E&P sector stocks helped the Index stabilize ground near 46,000 level.
International crude oil prices traded in the positive zone during the session, which helped the E&P to recover in comparison with respective LDCPs.
KEL did large volume in anticipation of deal closure after conclusion of IMF program, as highlighted by SBP governor yesterday. Cement sector largely traded range bound but contributed positively to the index.
Among scrips, KEL led the table with 249.5 million shares, followed by HUMNL (68.4 million) and UNITY (29.7 million).
Sectors contributing to the performance include Technology (+77 points), Banks (54 points), E&P (+54 points), Autos (+33 points) and Vanaspati (+25 points).
Volumes increased from 588 million shares to 825.9 million shares (+40 percent DoD). Average traded value also increased by 19 percent to reach US$ 131.8 million as against US$ 110.6 million.
Stocks that contributed significantly to the volumes include KEL, HUMNL, UNITY, PIBTL and SILK, which formed 48 percent of total volumes.
Stocks that contributed positively to the index include TRG (+60 points), HBL (+34 points), OGDC (+31 points), KEL (+31 points) and PPL (+25 points). Stocks that contributed negatively include SEARL (-14 points), HUBC (-13 points), MARI (-11 points), FFC (-10 points) and NESTLE (-6 points).
KARACHI: The stock market slipped by 49 points on Monday in mixed trading activities during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,605 points as against 45,654 points showing a decline of 49 points.
Analysts at Arif Habib Limited said that the benchmark KSE-100 index crossed another milestone of 46,000 today by posting a total increase of 455 points, however, profit booking eroded all the gains and the index saw decline of 49 points as well.
International crude oil prices remained range bound that caused the lackluster activity in E&P stocks.
Similarly, profit booking in Banks and O&GMCs contributed to the attrition in Index.
Fertilizer sector stocks inched up on the expectation of an increase in Urea prices, however, profit booking kept the rise in check.
During the session, SBP Governor hinted successful resumption of IMF program that helped built positive investor sentiment.
Among scrips, SILK topped the volumes with 69.9 million shares, followed by HUMNL (63.9 million) and BYCO (61.5 million).
Sectors contributing to the performance include Banks (-49 points), Technology (-24 points), Textile (-20 points), E&P (-14 points), Power (+50 points), Pharma (+45 points) and Chemical (+14 points).
Volumes declined from 696.4 million shares to 588.0 million shares (-16 percent DoD). Average traded value also dipped by 18 percent to reach US$ 110.6 million as against US$ 135.1 million.
Stocks that contributed significantly to the volumes include SILK, HUMNL, BYCO, BOP and PRL, which formed 41 percent of total volumes.
Stocks that contributed positively to the index include SEARL (+44 points), KAPCO (+31 points), COLG (+24 points), HUBC (+18 points) and BAHL (+11 points). Stocks that contributed negatively include UBL (-26 points), MEBL (-22 points), PPL (-17 points), TRG (-15 points) and MCB (-13 points).
The Pakistan stock market is anticipated to continue its bullish trend in the upcoming week, spurred by promising advancements on the COVID-19 vaccine front and its gradual rollout globally, which are expected to maintain strong investor interest in equities.
KARACHI: The stock market gained 310 points on Friday owing to improvement in economic indicators, especially in monthly exports growth that is the highest since September 2013.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,654 points as against previous day’s closing of 45,344 points, showing an increase of 310 points.
Analysts at Arif Habib Limited said that improvement in leading macro indicators such as growth in exports (highest monthly number since Sep 2013) as well as consistent increase in SBP forex reserves had the investors maintain an upbeat sentiment, especially on the banking sector stocks, which were relatively laggard in the previous Bull Run.
Banking sector stocks contributed the most to the Index in terms of points, however, selling pressure was observed in O&GMCs (among which, PSO saw the most attrition in the MoC).
Among textile, ILP performed well on the back of announcement of textile policy in the coming week. Scrips that led the volumes include BYCO (163.4 million shares), followed by HUMNL (44.8 million) and PRL (37.9 million).
Sectors contributing to the performance include Banks (+160 points), Engineering (+25 points), E&P (+21 points), Textile (+21 points) and Fertilizer (+21 points).
Volumes increased from 641.4 million shares to 696.4 million shares (+8 percent DoD). Average traded value however declined by 15 percent to reach US$ 135.1 million as against US$ 159.5 million.
Stocks that contributed significantly to the volumes include BYCO, HUMNL, PRL, KEL and LOTCHEM, which formed 45 percent of total volumes.
Stocks that contributed positively to the index include UBL (+49 points), MCB (+38 points), OGDC (+26 points), BAHL (+25 points) and HBL (+21 points). Stocks that contributed negatively include FFC (-17 points), PSO (-15 points), MARI (-11 points), KOHC (-6 points) and UNITY (-5 points).
KARACHI: The stock market gained 191 points on Thursday amid to selling pressure prevailed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,345 points as against previous day’s close of 45,153 points showing an increase of 191 points.
Analysts at Arif Habib Limited said that the market added a total of 466 points during the session, where the initial start was very fast paced, although profit booking in rest of the session brought the index down.
Profit booking was witnessed in E&P, Cement, Steel and O&GMCs sectors, whereas aggressive buying was witnessed in Banks and Fertilizer sectors.
Developing situation with respect to Quetta incident and laggard approach by the government to meet the protestors’ demands caused concern among investors.
News of removal of Additional Custom Duty on 152 tariff lines, also helped Textile and related chemical sector stocks to perform, however, profit booking brought the rates down by the end of session.
Among scrips, BYCO topped the volumes with 94.8 million shares, followed by POWER (34.2 million) and KAPCO (31.6 million).
Sectors contributing to the performance include Banks (+177 points), Fertilizer (+100 points), Inv Banks (+12 points), O&GMCs (-51 points), Cement (-34 points) and E&P (-26 points).
Volumes declined slightly from 664.5 million shares to 641.4 million shares (-4 percent DoD). Average traded value, on the contrary, increased by 3 percent to reach US$ 159.5 million as against US$ 154.3 million.
Stocks that contributed significantly to the volumes include BYCO, POWER, KAPCO, PRL and PAEL, which formed 33 percent of total volumes.
Stocks that contributed positively to the index include UBL (+88 points), HBL (+44 points), FFC (+37 points), EFERT (+29 points) and ENGRO (+27 points). Stocks that contributed negatively include PSO (-41 points), PPL (-29 points), OGDC (-19 points), LUCK (-18 points) and ANL (-17 points).
KARACHI: The stock market gained 503 points on Wednesday amid buying was witnessed across the board.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,153 points as against 44,650 points showing an increase of 503 points.
Analysts at Arif Habib Limited said that buying activity was observed across the board with E&P and O&GMCs rebounding strongly and supported by Cement and Fertilizer sectors, which showed good progress yesterday as well.
International crude oil prices jumped significantly on the conclusion of agreement among OPEC+ countries that became the reason for performance of E&P stocks.
Cement sector leaped on the expectation of an increase in cement price / bag in North region.
Banking sector also contributed on the anticipation of annual results. Among scrips, BYCO led the table with 97.5 million shares, followed by PRL (87.2 million) and KAPCO (31 million).
Sectors contributing to the performance include Banks (+118 points), E&P (+101 points), Cement (+62 points), Inv Banks (+59 points) and O&GMCs (+30 points).
Volumes increased from 582.3 million shares to 664.5 million shares (+14 percent DoD). Average traded value increased by 2 percent to reach US$ 154 million as against US$ 151.2 million.
Stocks that contributed significantly to the volumes include BYCO, PRL, KAPCO, HASCOL and HUMNL, which formed 41 percent of total volumes.
Stocks that contributed positively to the index include MEBL (+63 points), DAWH (+54 points), POL (+48 points), LUCK (+37 points) and PAKT (+29 points). Stocks that contributed negatively include HUBC (-23 points), HGFA (-4 points), SCBPL (-3 points), AICL (-3 points) and SRVI (-2 points).
KARACHI: Pakistan Stock Exchange (PSX) on Tuesday proposed to levy regulatory fee to cover costs of the stock exchange including need to increase marketing and investor awareness programs.
The proposed amount of regulatory fee is kept equivalent to the difference of Centralized Customers Protection Compensation Fund (CCPF) Levy presently charged and proposed reduced rate of CCPF Levy so that the brokers end up paying the same amount of levy on their traded value.
The PSX further said that the proposed fee to be charged to TRE Certificate Holders on the basis of per Rs100,000 value of trade would be equivalent to the amount by which the existing levy is proposed to be reduced under the another proposal of reduction in rate of levy collected from TRE certificate holders based on the value of securities traded at PSX and contributed in CCPF.
“This effectively means that the TRE Certificate Holders would continue to pay same amount of levy per Rs100,000 value of trade as is presently applicable at the rates specified in Schedule – I of Chapter 24 of PSX Regulations.
The only change PSX is proposing that such collected levy should be bifurcated into two categories i.e. one for CCPF contribution at Re0.01 and the remaining to be retained by PSX as a regulatory fee for meeting regulatory expenses as:
(i) Regulatory Fee for Ready Market: 0.67084 – 0.01 = 0.66084 per 100,000 trade value.
(ii) Regulatory Fee for other Markets: 0.93809 – 0.01 = 0.92809 per 100,000 trade value.
The PSX made another proposal for reduction in rate of levy collected from the certificate holders based on the value of securities traded at PSX and contributed in CCPF:
Presently, all TRE Certificate Holders are required to contribute in CCPF at the following rates specified in Schedule-I of Chapter 24 of PSX Regulations:
TABLE
Market Name
Rate in Pak Rupee [Per 100,000 value of trade]
Ready Market Trade
0.67084
Odd Lots Market Trade
0.93809
Deliverable Futures Contract Market- contract
0.93809
Cash-Settled Futures Contract Market-contract
0.93809
Stock Index Futures Contract Market-contract
0.93809
Squaring-Up Market-trade
0.93809
Negotiated Deals Market- transaction
Nil
Debt Market – Trades
Nil
PSX is proposing to reduce the rate of levy collected from TRE Certificate Holders as a contribution to CCPF to PKR 0.01 per PKR 100,000 value of trade executed in different markets as mentioned above based on the following reasons:
1. The CCPF has attained adequate size at the current level. As of audited statements of June 30, 2020, size of CCPF is PKR 3,985,384,043. Even with reduced rates of levy collected from TRE Certificate Holders, CCPF will continue to grow further with the support of earnings of treasury income on invested assets of CCPF;
2. The size of CCPF has grown faster as compared to the actuarial assessment due to the following factors:
(i) Lesser utilization of CCPF due to lower cases of defaults in recent past;
(ii) No outflow is made from CCPF on account of Management Fee;
(iii) Expected increase in treasury income due to anticipation of better interest rates; and
(iv) The current size of CCPF, which is over PKR 4 billion, is sustainable at its current level. This allows lesser contribution from TRE Certificate Holders.
In order to give effect to the above proposals, PSX is proposing to make the following regulatory amendments, which are attached herewith as Annexure A in a comparative format.
Proposal (A) requires amendments to Schedule 1 of Chapter 24 of PSX Regulations whereby the existing rates of levy for different markets are proposed to be reduced to PKR 0.01 per PKR 100,000 value traded.
Proposal (B) requires amendments to Schedule of Charges notified by PSX under clause 3.4 of PSX Regulations whereby a new “Regulatory Fee” schedule is proposed to be inserted to cover cost of regulatory functions and investor awareness programs and marketing campaigns of PSX.
Pursuant to Section 7(3) of the Securities Act, 2015, all concerned are invited to provide written comments on the proposed amendments by Tuesday, January 12, 2021.
KARACHI: The stock market declined by 36 points on Tuesday amid selling pressure seen during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,650 points as against previous day’s close of 44,686 points showing a decline of 36 points.
Analysts at Arif Habib Limited said that the market saw selling pressure from the start of trading session, which was primarily caused by an overnight decline in crude oil prices as well as profit booking in Power, O&GMCs and Fertilizer sector stocks.
Cement and Steel sector stocks bounced back today after yesterday’s selling activity on the back of healthy growth in cement dispatches.
Chemical sector stocks also performed well on close of quarter and anticipation of posting better earnings.
Among scrips, HUMNL topped the volumes with 68.4 million shares, followed by PRL (58.1 million) and TRG (31 million).
Sectors contributing to the performance include E&P (-108 points), Power (-53 points), O&GMCs (-33 points), Fertilizer (-10 points) and Technology (+46 points).
Volumes increased from 540.8 million shares to 582.4 million shares (+8 percent DoD). Average trading value, on the contrary, declined by 9 percent to reach US$ 151 million as against US$ 166.3 million.
Stocks that contributed significantly to the volumes include HUMNL, PRL, TRG, PAEL and KAPCO, which formed 36 percent of total volumes.
Stocks that contributed positively to the index include TRG (+43 points), KAPCO (+25 points), HBL (+20 points), SEARL (+17 points) and MCB (+16 points). Stocks that contributed negatively include HUBC (-74 points), PPL (-55 points), OGDC (-41 points), PSO (-19 points) and POL (-12 points).
KARACHI: The share market gained 252 points on Monday owing to positive sentiments prevailed and the market witnessed buying activity.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,686 points as against 44,434 points showing an increase of 252 points.
Analysts at Arif Habib Limited said that the market opened on a positive note and carried the momentum shown on the last trading day, especially with reference to resolution of circular debt that resulted in strong buying in energy chain (HUBC, KAPCO, PSO).
E&P sector also saw continuation of buying interest, not only due to an increase in international crude oil prices (which jumped 2 percent during the session) as well as the expectation of release of stuck receivables for PPL and OGDC.
Cyclicals (Cement and Steel) saw slump in stock prices due to profit booking. Tech stocks also bore selling pressure on the latest circular from NCCPL for implementation of close out mechanism for Future Contracts, as Tech stocks composes the most of the open positions in Futures contracts.
Among scrips, PAEL topped the volumes with 27.3 million shares, followed by HUBC (25.3 million) and HASCOL (24.9 million).
Sectors contributing to the performance include E&P (+163 points), Power (+127 points), O&GMCs (+96 points), Banks (++77 points) and Textile (+30 points).
Volumes increased from declined from 642.6 million shares to 540.6 million shares (-16 percent DoD). Average traded value also declined by 2 percent to reach US$ 166.6 million as against US$ 170.7 million.
Stocks that contributed significantly to the volumes include PAEL, HUBC, HASCOL, WTL and TRG, which formed 23 percent of total volumes.
Stocks that contributed positively to the index include HUBC (+104 points), PSO (+79 points), PPL (+78 points), OGDC (+63 points) and MCB (+31 points). Stocks that contributed negatively include TRG (-60 points), SYS (-33 points), LUCK (-31 points), DGKC (-21 points) and ENGRO (-19 points).
KARACHI: The share market likely to move in green over million doses expected to be purchased from China within the ongoing quarter and subsequent distribution, dampening in COVID-19 concerns may fuel the market pack.
Analysts at Arif Habib Limited said that bull run energy stocks to roll over next week and keep interest in the bourse alive.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.6x (2021) compared to Asia Pac regional average of 15.9x and while offering DY of around 6.1 percent versus around 2.4 percent offered by the region.
While nervousness ruled market sentiment in the earlier part of the week with 3 cases of the new found coronavirus strain in Pakistan as well as profit taking by institutional investors, the equity bourse quickly posted a rebound amid extension in the Prime Ministers construction package to December 31, 2021.
We also highlight that potential partial resolution of the circular debt with installment due to IPP’s within Jan’21 aided market momentum. That said, the benchmark KSE-100 index breached the 44k level and closed at 44,435 points, up by 2.34 percent / 1018 points.
Sector-wise positive contributions came from i) Banks (342 points), ii) Fertilizers (231 points), and iii) Oil & Gas Exploration (202 points) while Power Generation & Distribution declined 37 points. Scrip-wise positive contributions were led by OGDC (112 points), FFC (95 points), MEBL (68 points), ENGRO (64 points), and PSO (63 points). HUBC and KOHC led the negative contributions, declining 43 and 15 points respectively.
Foreign selling continued this week clocking-in at USD 46.22 million compared to a net sell of USD 20.44 million last week.
Selling was witnessed in All other sectors (USD 46.14 million) and Technology (USD 0.95 million). On the domestic front, major buying was reported by Companies (USD 41.09 million and Individual (USD 20.04 million).
That said, average daily volumes and traded value for the outgoing week were up by 4 percent and 3 percent to 528 million shares and USD 142 million, respectively.
