Tag: PSX

KARACHI: The stock market gained 320 points on Monday as activities were seen in cement and power sector, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,651 points as against 37,331 points showing an increase of 320 points.

Analysts at Arif Habib Limited said that the benchmark index made yet another recent time high with one of the highest volumes, all courtesy of cement and power sectors.

Market opened on a positive note today with +158 points and gained a total of 410 points, closing the session +320 points. Last 10 days of the month has a scheduled meeting of SBP to decide monetary policy stance with an anticipation of further rate cut.

Cement sector continued the momentum with highest volumes on the bourse, totaling 83.2 million shares, followed by Technology (68.2 million) and Engineering (48.4 million). Among scrips, HASCOL topped the volumes with 32.5 million shares, followed by TRG (27.5 million) and MLCF (23 million).

Sectors contributing to the performance include Power (+72 points), Cement (+47 points), E&P (+27 points), Textile (+26 points) and Engineering (+24 points).

Volumes increased from 466 million shares to 553.8 million shares (+19 percent DoD0. Average traded value also increased by 23 percent to reach US$ 116.0 million as against US$ 94.1 million.

Stocks that contributed significantly to the volumes include HASCOL, TRG, MLCF, FCCL and LOTCHEM, which formed 22 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+56 points), FCCL (+24 points), TRG (+19 points), KAPCO (+15 points) and LUCK (+14 points). Stocks that contributed negatively include ENGRO (-12 points), PAKT (-11 points), UBL (-9 points), HMB (-8 points), and NESTLE (-7 points).

KARACHI: The stock market likely to trade in green owing to expected rise in demand of cement and steel in the wake of incentive provided to housing sector.

Analysts at Arif Habib Limited said that the market to remain green especially cyclical sectors to remain in the limelight including cements and steel due to government focusing on reviving economic activity through housing and construction sector.

That said, continuous slowdown in Covid-19 cases on daily basis is further improving investors’ confidence.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) is currently trading at a PER of 8.1x (2020) compared to Asia Pac regional average of 13.1x while offering a dividend yield of ~6.0 percent versus ~2.7 percent offered by the region.

The market commenced on a positive note, continuing the rally being witnessed since the last three weeks.

During the mid-week, 13 days winning streak came to an end as the index slipped by 66 points on account of profit taking.

Optimism in the bourse was sourced from: i) Capital injection from local investors as equities are being viewed as the preferred asset class, ii) Government planning to build low cost subsidized houses which rejuvenated investors’ interest in the cement sector, iii) State Bank of Pakistan has asked all commercial banks to allocate five percent of their portfolio to construction sector, again attracting interest in cements and iv) PM inaugurated construction works at Diamer Bhasha Dam that will increase demand for Cements and Steel.

Likewise, Commercial Banks performed well due to expectation of improved earnings in the upcoming results.

As a result, the KSE-100 index closed at 37,331 points, up by 1,140 points or 3.15 percent WoW.

Contribution to the upside was led by i) Cements (213 points), ii) Oil and Gas Exploration Companies (196 points), iii) Fertilizer (149 points), iv) Automobile Assembler (91 points), and v) Commercial Banks (55 points). Scrip wise major gainers were LUCK (85 points), POL (78 points), DAWH (77 points), PPL (75 points), and INDU (63 points). Whereas, scrip wise major losers were BAFL (13 points), NBP (9 points) ABOT (8 points), SYS (8 points) and COLG (7 points).

Foreigners offloaded stocks worth of USD 27.37 million compared to a net sell of USD 9.46 million last week. Major selling was witnessed in E&P (USD 20.40 million) and Fertilizer (USD 2.61 million). On the local front, buying was reported by Individuals (USD 15.93 million) followed by Insurance Co. (USD 14.29 million). That said, average daily volumes and traded value for the outgoing week were up by 22 percent and 34 percent to 426 million shares and USD 99.3 million, respectively.

KARACHI: The share market continued gaining momentum and increased by 329 points on Friday, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,331 points as against 37,001 points showing an increase of 329 points (+0.9 percent DoD).

Market realized a gain of +353 points during the two session and closed the day at +329 points. HASCOL turned out to be the head turner, despite posting a loss of 25B the stock ended the session in green with a volume of 87.2 million shares.

Refinery sector saw NRL and PRL hitting upper circuit after news of recent disruption in oil supplies and similar performance was observed in other Refinery stocks. Banking sector stocks remained muted throughout the session. Steel sector also performed on the back of expectation of an increase in steel prices.

O&GMCs posted highest volumes of 92.9 million shares courtesy of HASCOL, and was followed by Chemical (52.9 million) and Technology (39.2 million). Among scrips, LOTCHEM (24.8 million) and UNITY (22.1 million) followed HASCOL.

Sectors contributing to the performance include Inv Banks (+60 points), Fertilizer (+52 points), Power (+40 points), Chemical (+35 points) and Autos (+26 points).

Volumes increased further from 402.6 million shares to 466.1 million shares (+16 percent DoD). Average traded value however declined by 2 percent to reach US$ 94.6 million as against US$ 96 million.

Stocks that contributed significantly to the volumes include HASCOL, LOTCHEM, UNITY, MLCF and TRG, which formed 35 percent of total volumes.

Stocks that contributed positively to the index include DAWH (+58 points), ENGRO (+48 points), HUBC (+42 points), THALL (+20 points) and PAKT (+15 points). Stocks that contributed negatively include HBL (-14 points), EFUG (-8 points), PPL (-6 points), EFERT (-6 points), and OGDC (-5 points).

KARACHI: The stock market gained 322 points on Thursday due to enhanced activity in cement sector following inauguration of Bhasha Dam, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,001 points as against 36,679 points showing an increase of 322 points.

The analysts at Arif Habib Limited said that the benchmark KSE100 index topped 37,000 today by posting gains of 350 points during the session and ended at +322 points.

Overall volumes also crossed 400 million shares mark. Cement sector rallied on the back of recent inauguration of Bhasha Dam and optimism with respect to Housing Scheme.

PPL posted further gains for the third session in a row with high volumes. Foreign investor has largely been a major seller, whereas among local investors Insurance Companies and HNIs have taken the majority of float.

Among Banking sector, HBL showed improvement by the end of session, however, small cap banks remained in the limelight in terms of volumes.

Cement sector led the volumes with 66.5 million shares, followed by Technology (52.4 million) and Banks (51.1 million). Among scrips, JSBL topped the volumes with 31.6 million shares, followed by MLCF (24.8 million) and PAEL (24.1 million).

Sectors contributing to the performance include E&P (+66 points), Cement (+65 points), Banks (+46 points), Auto Assembler (+41 points) and Auto Parts (+24 points).

Volumes increased from 328.4 million shares to 402.4 million shares (+23 percent DoD). Average traded value also increased by 13 percent to reach US$ 96.2 million as against US$ 84.8 million.

Stocks that contributed significantly to the volumes include JSBL, MLCF, PAEL, HASCOL and PPL, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include LUCK (+38 points), PPL (+37 points), HBL (+32 points), THALL (+18 points) and MTL (+16 points). Stocks that contributed negatively include COLG (-13 points), BAFL (-8 points), HASCOL (-6 points), EFUG (-5 points), and CHCC (-4 points).

KARACHI: The stock market fell by 66 points on Wednesday owing to profit taking after 13 consecutive positive sessions, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,679 points as against 36,745 points showing a decline of 66 points.

Analysts at Arif Habib Limited said that the market opened on a positive note today with +106 points and gained a total of 146 points during the session, however, profit booking caused the index to slide.

PPL again showed high volumes and closed the session slightly below VWAP. Majority of the crosses were observed at 97.50. O&GMCs, Fertilizer, Steel and Pharma saw profit booking in general.

Cement sector topped the volumes with 54 million shares, followed by Banks (34.5 million) and Technology (34 million).

Among scrips, MLCF realized 33 million shares, followed by PAEL (27 million) and UNITY (21.7 million).

Sectors contributing to the performance include E&P(+17 points), Tobacco (+16 points), O&GMCs (-30 points), Inv Banks (-24 points), Fertilizer (-24 points), Banks (-23 points).

Volumes further declined to 328.4 million shares as against 466.2 million shares (-30 percent DoD). Average traded value declined by 23 percent to reach US$ 84.9 million as against US$ 109.5 million.

Stocks that contributed significantly to the volumes include MLCF, PAEL, UNITY, PPL and TRG, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include PAKT (+16 points), PPL (+15 points), HUBC (+13 points), INDU (+11 points) and POL (+10 points). Stocks that contributed negatively include DAWH (-21 points), SNGP (-19 points), MTL (-16 points), MEBL (-13 points), and FFC (-10 points).

KARACHI: The share market gained 127 points on Tuesday as energy scrips witnessed improved trading after hydrocarbon discovery announced by POL.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,745 points as against 36,619 points showing an increase of 127 points.

Analysts at Arif Habib Limited said that the market realized a second consecutive day with +460 million volume and in the process posted a gain of 317 points during the session taking the KSE100 index to a recent time high of 36,936 points.

Highlight of the day turned out to be PPL, which realized high trading volume and after initial trades at below LDCP, the price spiked significantly. Despite international crude prices facing a down day, E&P scrips (PPL and POL) posted decent gains.

POL also announced a hydrocarbons discovery that took the stock price trading near upper circuits. Profit booking was mainly observed in Cement sector throughout the day, and similar pressure was observed in E&P stocks that brought the Index to close +127 points.

Cement sector posted highest traded volumes of 51.9 million shares, followed by Power (48.1 million) and Cable (37.9 million). Among scrips, KEL topped the volumes with 39.2 million shares, followed by PAEL (33.5 million) and MLCF (25.2 million).

Sectors contributing to the performance include E&P (+66 points), Inv Banks (+36 points), Fertilizer (+24 points), Misc (+11 points), Pharma (+10 points), Cement (-23 points) and O&GMCs (-15 points).

Volumes declined slightly to 466 million shares against 468.9 million shares the other day (-0.6 percent DoD). Average traded value also declined by 2 percent to reach US$ 109.5 million as against US$ 111 million.

Stocks that contributed significantly to the volumes include KEL, PAEL, MLCF, PPL and UNITY, which formed 30 percent of total volumes.

Stocks that contributed positively to the index include POL (+44 points), DAWH (+31 points), PPL (+16 points), KEL (+15 points) and SHFA (+11 points). Stocks that contributed negatively include PSO (-18 points), LUCK (-11 points), HUBC (-10 points), BAFL (-9 points), and DGKC (-8 points).

KARACHI: The equity market gained 428 points on Monday owing to increased activity in construction sector, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,619 points as against 36,190 points showing an increase of +428 points.

Analysts at Arif Habib Limited said that the first day after resumption of trading hours to Pre-COVID brought higher volumes, touching 468 million shares which is slightly higher than what was observed on Thursday.

This is the highest volume so far in CY20. Index also moved uni-directional, gaining 532 points during the session and closing at +428 points.

Cement sector led the sentiment with MLCF realizing the most trading volumes in recent times.

Majority of the cement sector scrips traded at and near upper circuits. Recently announced Housing Scheme has brighten the prospects for the Cement companies in addition to declining coal prices and increase in retail price / bag.

Among O&GMCs, PSO and SSGC stood out with higher volumes and price appreciation. Similar bullish sentiment was observed in Steel sector, which saw ASTL and MUGHAL hitting upper circuits.

Overall, Cement sector topped the volumes with 144.5 million shares (30 percent of total traded volumes), followed by Technology (43.2 million) and Engineering (34.2 million).

Among scrips, PAEL (21.9 million) and TRG (21.2 million) followed MLCF with 76.4 million shares.

Sectors contributing to the performance incude Cement (+162pt), O&GMCs (+56 points), E&P (+50 points), Banks (+37 points) and Autos (+31 points).

Volumes increased from 292.7 million shares to 468.9 million shares (+60 percent DoD). Average traded value also increased by 94 percent to reach US$ 111.4 million as against US$ 57.5 million.

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

Stocks that contributed positively to the index include LUCK (+57 points), PSO (+42 points), DGKC (+34 points), MEBL (+21 points) and CHCC (+19 points). Stocks that contributed negatively include PSEL (-7 points), EFUG (-6 points), PAKT (-5 points), HUBC (-5 points), and BOP (-5 points).

KARACHI: The stock market may maintain positive momentum during the next week owing to improvement sentiments and ease in cases related to COVID-19.

Analysts at Arif Habib Limited expect the market to maintain its positive momentum in the coming week.

Investor’s sentiment is expected to improve further on account of continuous decline in COVID-19 cases on a daily basis.

Moreover, with the SBP’s foreign exchange reserves climbing up, they expect the PKR/USD parity to stabilize.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.7x (2020) compared to Asia Pacific regional average of 13.1x and while offering DY of ~6.2 percent versus ~2.7 percent offered by the region.

The market commenced on a positive note this week given flattening of the COVID-19 curve along with higher recovery rate of patients.

Furthermore, jump in SBP’s foreign exchange reserves (up by USD 811 million), reduction in mark-up on Long Term Financing Facility (from 6 percent to 5 percent) and Temporary Economic Refinance Facility (from 7 percent to 5 percent) as well as extension in deferment of principal amount facility pushed the index beyond 36,000 points level.

Moreover, surge in cement sales by 30 percent YoY in June 2020, fall in trade deficit by 27 percent YoY in FY20 and 19 percent YoY higher sales of OMCs during June 2020 added fuel to the sentiment.

The index settled at 36,190 points, gaining 1,139 points (up by 3.3 percent) WoW.

Sector-wise positive contributions came from i) Commercial Banks (495 points), ii) Cement (141 points), iii) Oil & Gas Exploration Companies (135 points), iv) Automobile Assembler (82 points) and v) Oil & Gas Marketing Companies (69 points).

Whereas, negative contributions came from Power Generation and Distribution (23 points) and Fertilizer (17 points). Scrip-wise positive contributions were led by HBL (141 points), PPL (70 points), UBL (65 points), NBP (46 points) and INDU (43 points).

Foreign selling continued this week clocking-in at USD 9.5 million compared to a net sell of USD 20.5 million last week.

Selling was witnessed in Commercial Banks (USD 2.9 million) and Cement (USD 2.3 million). On the domestic front, major buying was reported by Insurance Companies (USD 4.6 million and Companies (USD 2.8 million).

Average volumes settled at 349 million shares (up by 39 percent WoW) while average value traded clocked-in at USD 74 million (up by 44 percent WoW).

KARACHI: The stock market gained 48 points on Thursday as range bound session was observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,190 points as against previous day’s closing of 36,142 points, showing an increase of 48 points.

Analysts at Topline Securities said that range bound session was observed at the local bourse as the index juggled between positive and negative zone to close at that 36,190 level.

Major positive contribution came from LUCK, NBP and ENGRO as they cumulatively contributed 54 points to the index, whereas PPL, TRG and OGDC lost value to weigh down on the index by -34 points.

Traded volume and value for the day stood at 292 million shares and Rs.9.57 billion respectively.

UNITY was today`s volume leader with around 28 million shares.

KARACHI: Benchmark KSE-100 of Pakistan Stock Exchange (PSX) continued its positive momentum for the 10th consecutive session to close at 36,142 level on Thursday.

These past 10 days have returned 7.2 percent (2,423 points), analysts at Topline Securities said.

Market was led by financial and E&P sectors while Pharmaceutical and Cement sector saw profit taking. Investor interest was also observed in technology sector where AVN and NETSOL closed 7.5 percent higher as the sector is doing well given IT service demand has increased during the COVID-19 pandemic.

Traded volume and value for the day increased by 47 percent and 20 percent on DoD basis to 467 million shares (highest volume of 2020) and Rs.15.6. billion (highest since 21 April-2020) respectively. UNITY was today`s volume leader with 40.6 million shares.