KARACHI: The share market witnessed a robust increase of 170 points on Friday, propelled by the rebalancing of international stock markets and improved sentiments ahead of the forthcoming Monetary Policy Statement (MPS).
(more…)Tag: PSX
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PSX imposes restriction on New Peak Securities
KARACHI: Pakistan Stock Exchange (PSX) on Thursday imposed restriction on M/s. New Peak Securities (Private) Limited – TREC Holder – on failure to comply with the instructions of the exchange.
In a notification, the PSX informed all market participants that M/s. Peak Securities (Private) Limited – TREC Holder, PSX (New Peak) failed to comply with the instructions of the exchange, which is a non compliance of clause 20.5.1 of PSX Regulations.
The said clause is reproduced as:
“20.5.1. Pursuant to Clause 20.4 hereinabove, the CRO, sub-committee of RAC or RAC, as the case may be, may initiate disciplinary actions against a TRE Certificate Holder under sub-clause 20.5.2 when it is prima facie established that such TRE Certificate Holder has breached one or more of the PSX Regulations or failed to comply with a policy, procedure, order, notice, guideline, direction, manual, decision, instruction or ruling of the Exchange or failed to provide any required information or provided incomplete, false, forged or misleading information to the Exchange as may be required from time to time.”
In order to protect the interest of investing public, the exchange, after providing due hearing opportunity, has decided to “impose restriction on opening of new clients’ accounts” with immediate effect alongwith financial penalty on New Peak, under clause 20.5.2 of PSX Regulations.
The said clause is reproduced as:
“20.5.2. GENERAL DISCIPLINARY ACTIONS:
Disciplinary actions that may be taken pursuant to sub-clause 20.5.1 are as follows:
(a) Issue a warning in writing to act more carefully and vigilantly;
(b) Reprimand in writing that the conduct warrants censure;
(c) Impose a fine;
(d) Impose any one or more conditions or restrictions;
(e) Mandate educational qualification, training or such other program as may be determined by the relevant authority to be undertaken or implemented by the Broker for its employees;
(f) Direct to take remedial actions to rectify the breach including appropriate action(s) against any of its employees concerned behind such breach, whether directly or indirectly ; and/or take such other action as the relevant authority may deem appropriate;
(g) Suspend any or all trading terminals.”The PSX said that the enforcement action has been taken without prejudice to the right of the exchange to further initiate any inquiry, special audit with expanded, restricted or different scope to take any punitive action against New Peak in accordance with relevant regulations on matters subsequently investigated or otherwise brought to the knowledge of the exchange.
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Share market gains 53 points amid selling pressure
KARACHI: The share market gained 53 points on Thursday despite selling pressure seen in the market during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,334 points as against 42,282 points showing an increase of 53 points.
Analysts at Arif Habib Limited said that the market opened on a positive note with +193 points and added a total of 350 points on the index.
Selling pressure eroded most of the gains by the end of session, closing the index +53 points. Financial results of DGKC helped the stock post price gains.
Among technology stocks, PTC hit upper circuit whereas Chemical sector helped EPCL touch recent times high. Technology sector topped the volumes with 108.6 million shares, followed by Power (47.5 million) and Vanaspati (45.2 million). Among scrips, KEL led the table with 70.5 million shares, followed by HASCOL (37.4 million) and DCL (28.1 million).
Sectors contributing to the performance include Chemical (+23 points), Technology (+17 points), E&P (+14 points), Insurance (-15 points), Pharma (-7 points).
Volumes increased from 489.6 million shares to 508.7 million shares (+4 percent DoD). Average traded value also increased by 3 percent to reach US$ 90.8 million as against US$ 87.9 million.
Stocks that contributed significantly to the volumes include PTC, UNITY, HASCOL, FFL and PIBTL, which formed 42 percent of total volumes.
Stocks that contributed positively to the index include EPCL (+20 points), POL (+14 points), PTC (+13 points), PSO (+13 points) and ENGRO (+12 points). Stocks that contributed negatively include FFC (-12 points), AICL (-9 points), JLICL (-8 points), NESTLE (-6 points) and ABL (-5 points).
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Stock market witnesses selling pressure over FATF bill
KARACHI: The stock market fell by 64 points on Wednesday as investors’ sentiments shaken over FATF bill, which required parliamentary approval.
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Stock market falls by 185 points on profit booking
KARACHI: The stock market fell by 185 points on Tuesday as investors opted for profit booking during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,346 points as against 42,531 points showing a decline of 185 points.
Analysts at Arif Habib Limited said that the market opened on a positive today, maintained positive momentum during the session but selling pressure in the end brought the index down.
Profit booking continues from past sessions, however, Investors have generally been switching positions from stocks that have nearly doubled from their recent bottoms (Cement) into Stocks that have had muted performance (Banks & O&GMCs).
ENGRO saw selling pressure due to it being Ex-dividend, however, prospects of increase in price of fertilizer kept the buying interest alive. Cement sector stocks performed well during the session on the back of increase in cement prices in North region, however, profit booking brought the prices down again.
O&GMCs topped the volumes with 74.2 million shares, followed by Cement (74.1 million) and Power (63.4 million). Among scrips, HASCOL led the volumes with 63.7 million shares, followed by KEL (54 million) and BYCO (42.6 million).
Sectors contributing to the performance include Banks (-66 points), Fertilizer (-50 points), Inv Banks (-25 points), Technology (-25 points) and Insurance (-16 points).
Volumes increased from 509.5 million shares to 662.8 million shares (+30 percent DoD). Average traded value also increased by 28 percent to reach US$ 111.9 million as against US$ 87.5 million.
Stocks that contributed significantly to the volumes include HASCOL, KEL, BYCO, BOP and UNITY, which formed 36 percent of total volumes.
Stocks that contributed positively to the index include MTL (+13 points), NESTLE (+11 points), MLCF (+10 points), THALL (+7 points) and EPCL (+6 points). Stocks that contributed negatively include ENGRO (-39 points), DAWH (-22 points), UBL (-21 points), HBL (-20 points) and TRG (-18 points).
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Weekly Review: market likely to stay in green
KARACHI: The stock market likely to trade in green zone during next week due to higher interest of investors and improved economic indicators.
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Share market falls by 117 points amid selling pressure
The share market of Pakistan Stock Exchange (PSX) witnessed a notable decline of 117 points on Friday as selling pressure was observed across various sectors.
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Stock market gains 625 points as investors welcome Roshan Digital Accounts
KARACHI: The stock market gained 625 points on Thursday as investors responded positively to a banking facility for non-resident Pakistanis.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,647 points as against 42,022 points showing an increase of 625 points.
Analysts at Arif Habib Limited said that boisterous activity was witnessed at the Bourse in response to the Roshan Digital Account for Non-Resident Pakistanis (NRP) that would facilitate investment by Pakistani diaspora in Pakistan Stock Exchange listed shares as well as Government issued Securities.
Activity was seen across the board but was more pronounced in O&GMCs, E&P and Banking sectors. PSO traded near upper circuit, whereas OGDC, PPL and POL also responded positively to the uptick in international crude oil prices overnight.
Fertilizer sector also showed positivity as High Court granted stay on GIDC collection. Technology sector realized trading volume of 138.8 million shares, followed by Transport (126.6 million) and Banks (76.6 million). Among scrips, PIBTL topped the volumes with 121.7 million shares, followed by HASCOL (48 million) and WTL (42.9 million).
Sectors contributing to the performance include Banks (+176 points), Cement (+85 points), E&P (+85 points), Fertilizer (+64 points) and Power (+57prts).
Volumes increased from 707 million shares to 885.0 million shares (+25 percent DoD). Average traded value also increased by 27 percent to reach US$ 163.2 million as against US$ 128.1 million.
Stocks that contributed significantly to the volumes include PIBTL, HASCOL, WTL, PTC and KEL, which formed 33 percent of total volumes.
Stocks that contributed positively to the index include MCB (+65 points), LUCK (+62 points), HUBC (+53 points), PPL (+49 points) and PSO (+37 points). Stocks that contributed negatively include TRG (-13 points), SYS (-12 points), NATF (-9 points), ATLH (-8 points) and BAHL (-4 points).
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Stock market gains 37 points in range bound activity
KARACHI: The stock market gained 37 points on Wednesday in a range bound trading activity during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,022 points as against 41,985 points showing an increase of 37 points.
Analysts at Arif Habib Limited said that the market traded in range between -374 points and +211 points, closing the session +37 points.
Selling pressure ensued the global sell off which was observed overnight in US markets and carried the same sentiment in regional markets.
KSE100 followed suit and saw selling pressure in E&P, OMCs and Cement sectors throughout the session with varying intensity. Selling pressure built again in PSO, HASCOL and UBL by the close of session which otherwise saw buying activity.
OGDC & PPL also observed selling activity on the back of significant decline in crude oil prices.
Technology sector posted high volumes of 172.9 million shares, followed by O&GMCs (83.2 million) and Refinery (64.8 million). Among scrips, HASCOL topped the volumes with 75.6 million shares, followed by PTC (63 million) and PIBTL (57.2 million).
Sectors contributing to the performance include Banks (+42 points), Technology (+32 points), Insurance (+23 points), Food (+22 points), E&P (-55 points), O&GMCs (-23 points), and Power (-20 points).
Volumes declined from 884.4 million shares to 707.0 million shares (-20 percent DoD). Average traded value also declined by 24 percent to reach US$ 128.0 million as against US$ 167.7 million.
Stocks that contributed significantly to the volumes include HASCOL, PTC, PIBTL, WTL and TRG, which formed 38 percent of total volumes.
Stocks that contributed positively to the index include HBL (+31 points), TRG (+20 points), NATF (+18 points), LUCK (+14 points) and JLICL (+12 points). Stocks that contributed negatively include OGDC (-31 points), HUBC (-14 points), UBL (-14 points), PPL (-14 points) and MARI (-11 points).
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Share market ends down by 311 points on selling pressure
KARACHI: The share market ended down by 311 points on Tuesday after selling pressure by end of session.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,985 points as against 42,296 points showing a decline of 311 points.
Analysts at Arif Habib Limited said that the market saw selling pressure by the end of session after posting gains of 233 points early on.
Refinery sector particular performed well with multiple stocks hit upper circuit.
Similarly, Cement and OMCs sectors saw buying interest which helped the index post gains.
Besides, Chemical sector remained in the limelight, seeing good gains made in stock prices.
Selling pressure brought the index down by 616 points, including erosion of earlier gains, which was caused by closing of leveraged positions by retail investors.
O&GMCs posted trading volume of 149 million shares, followed by Cement (100 million) and Refinery (89.3 million). Among scrips, HASCOL topped with 133.9 million shares, followed by PIBTL (66 million) and POWER (57.9 million).
Sectors contributing to the performance include Banks (-80 points), O&GMCs (-38 points), Chemical (-35 points), Pharma (-24 points) and E&P (-24 points).
Volumes increased from 748.8 million shares to 884.4 million shares (+18 percent DoD). Average traded value also increased by 18 percent to reach US$ 167.8 million as against US$ 142.3 million.
Stocks that contributed significantly to the volumes include HASCOL, PIBTL, POWER, PRL and BYCO, which formed 38 percent of total volumes.
Stocks that contributed positively to the index include SYS (+35 points), LUCK (+31 points), NATF (+19 points), JLICL (+12 points) and BYCO (+11 points). Stocks that contributed negatively include TRG (-33 points), HBL (-27 points), MCB (-24 points), HASCOL (-23 points) and OGDC (-19 points).