Tag: PSX

KARACHI: The stock market gained 262 points on Wednesday as improved trading activity was seen in banking scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 35,065 points as against 34,804 points showing an increase of 262 points.

Analysts at Arif Habib Limited said that the banking sector performed well today with BAFL hitting upper circuit and HBL, UBL & MCB also contributing positively to the Index.

Though crude oil prices remained under pressure, renewed interest in E&P sector from investors in general and foreigners in particular helped these stocks maintain a plateau.

Particular buying interest was also observed in chemical stocks, which have been in the limelight whether due to COVID-19 or anticipated tax relief in the upcoming budget.

EPCL, DOL, SPL performed well, whereas LOTCHEM after posting significant gains yesterday registered a nominal decline. Banking sector stocks topped the index with 32.8 million shares, followed by Technology (24.5 million) and Chemical (23.1 million).

Among scrips, PRLR registered treading volume of 11.7 million shares, followed by TRG (10.8 million) and BOP (9 million).

Sectors contributing to the performance include Banks (+273 points), Pharma (+24 points), Textile (+17 points), Technology (+15 points), E&P (-36 points), Cement (-10 points).

Volumes declined from 238.3 million shares to 218.7 million shares (-9 percent DoD). Average traded value also declined by 13 percent to reach US$ 48.4 million as against US$ 55.6 million.

Stocks that contributed significantly to the volumes include PRLR1, TRG, BOP, UNITY and LOTCHEM, which formed 22 percent of total volumes.

Stocks that contributed positively to the index include HBL (+67 points), UBL (+59 points), BAFL (+37 points), MEBL (+31 points) and MCB (+25 points). Stocks that contributed negatively include OGDC (-21 points), MARI (-14 points), EFUG (-6 points), ISL (-4 points), and HUBC (-4 points).

KARACHI: The stock market gained 54 points on Tuesday while trading in narrow range trading.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,803 points as against 34,750 points showing an increase of 54 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today between -61 points and +106 points, closing the session +54 points.

Decline in international crude oil prices brought oil stocks down, including OGDC, PPL and PSO, which kept selling pressure on the Index.

Fertilizer and Pharma sector was not much different and realized profit booking. LOTCHEM posted highest volumes in recent times to the tune of 36.2 million shares.

Among Banks, HBL posted nominal gains but remained largely positive throughout the session due to dividend being part of the price.

Auto sector performed well on the expectation of incentives to be offered in the upcoming budget. Chemical sector realized trading volumes of 47.1 million shares, followed by Technology (22.9 million) and Cement (21.2 million).

Among scrips, LOTCHEM topped the chart, followed by JSCL (13.3 million) and PRL (9.8 million).

Sectors contributing to the performance include Banks (+61 points), Cement (+19 points), Textile (+16 points), E&P (-39 points), Power (-23 points) and Fertilizer (-12 points).

Volumes increased from 222.4 million shares as against 238.3 million shares (+7 percent DoD). Average traded value also increased by 5 percent to reach US$ 55.6 million as against US$ 53.1 million.

Stocks that contributed significantly to the volumes include LOTCHEM, JSCL, PRLR1, TRG and PIBTL, which formed 32 percent of total volumes.

Stocks that contributed positively to the index include UBL (+30 points), LUCK (+27 points), DAWH (+14 points), AGP (+13 points) and NESTLE (+11 points). Stocks that contributed negatively include PPL (-23 points), HUBC (-19 points), ENGRO (-10 points), POL (-9 points), and PAKT (-7 points).

KARACHI: The stock market gained 399 points on Monday as positive sentiment prevailed due to higher international oil prices and expected cut in duty and taxes on imported raw material.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,750 points as against 34,350 points showing an increase of 399 points.

Analysts at Arif Habib Limited said that the international crude prices helped propped market today, gaining 419 points during the session and closing near high levels.

E&P and OMCs realized price gains, whereas cement sector performed as well.

Expectation of cut in duties and taxes related to raw material gave some excitement to otherwise cautious investors, resulting in increased volumes in cement, steel and pharmaceutical sectors.

Banking sector also performed well, mainly courtesy of HBL, UBL and MCB and helped Index post decent gains.

Technology stocks posted trading volume of 38.1 million shares, followed by Cement (32.7 million) and O&GMCs (15.9 million).

Among scrips, TRG topped the index with 19.5 million shares, followed by PRL (18.8 million) and HASCOL (13.1 million).

Sectors contributing to the performance include E&P (+134 points), Banks (+86 points), Cement (+49 points), Technology (+33 points), Pharma (+28 points) and Power (-17 points).

Volumes increased from 89.1 million shares to 222.4 million shares (+150 percent DoD). Average traded value also increased by 119 percent to reach US$ 53.1 million as against US$ 24.3 million.

Stocks that contributed significantly to the volumes include TRG, HASCOL, MLCF, HUMNL and PIOC, which formed 29 percent of total volumes.

Stocks that contributed positively to the index include MCB (+53 points), POL (+52 points), UBL (+36 points), PPL (+35 points) and OGDC (+32 points). Stocks that contributed negatively include HUBC (-17 points), BAHL (-14 points), DAWH (-14 points), MEBL (-7 points), and COLG (-7 points).

KARACHI: The stock market likely to move with the news flows related to budget 2020/2021 which is scheduled to announce on June 12, 2020.

Analysts at Arif Habib Limited said that with Federal Budget announcement scheduled for June 12, 2020, the market is expected to track budget related news flow.

Whereas market performance for June 2020 remains critical as during first eleven months of current fiscal year, the index has delivered a return of +0.09 percent in Pak Rupee terms.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 7.2x (2020) compared to Asia Pac regional average of 12.6x and while offering DY of ~8.2 percent versus ~2.8 percent offered by the region.

The market opened on a positive note this week, welcoming further ease in lockdown and opening up of several businesses with Standard Operating Procedures (SOPs) in place.

Moreover, rising oil prices, with revival of economic activity internationally, kept the E&P scrips under limelight. Besides this, inflation for the month of May 2020 also declined to 8.2 percent, in line with expectations while improvement in exports on a MoM basis also relieved investors.

While anticipation of relief reforms in Budget 2020-21 also kept the sentiment alive.

However, rapid spread of COVID-19 cases and decline in foreign reserves by USD 1.67 billion being reflected in the Pak Rupee-USD parity (depreciation to 163/USD this past week) prevented the market from outperforming.

The market settled at 34,350 points, gaining 419 points (up by 1.2 percent) WoW.

Sector-wise positive contributions came from i) Commercial Banks (401 points), ii) Oil & Gas Exploration Companies (78 points), iii) Automobile Parts & Accessories (32 points), iv) Textile Composite (25 points) and Pharmaceuticals (19 points).

However, sector-wise negative contribution came from i) Fertilizer (53 points), ii) Power Generation & Distribution (30 points) and Insurance (25 points). Scrip-wise positive contributions were led by MCB (110 points), UBL (100 points), POL (66 points), HBL (66 points) and BAHL (54 points).

Foreign selling continued this week clocking-in at USD 15.3 million compared to a net sell of USD 2.4 million last week. Selling was witnessed in Commercial Banks (USD 5.0mn) and Textile Composite (USD 4.4 million). On the domestic front, major buying was reported by Companies (USD 7.4 million) and Mutual Funds (USD 6.6 million).

Average Volumes settled at 157 million shares (down by 27 percent WoW) while average value traded clocked-in at USD 39 million (down by 27 percent WoW).

KARACHI: The stock market gained 231 points on Friday while witnessing range bound activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,350 points as against 34,120 points showing an increase of +231 points.

Analysts at Arif Habib Limited said that the market traded range bound for the most part of the session but saw gaining volumes and points by the end that reflects an increase of 231 points.

Cement, Fertilizer and Pharma stocks showed signs of recovery. Some of the scrips in Pharma sector hit upper circuit like AGP and FEROZ. Banking sector stocks showed selling pressure amid low trading volumes.

Cement sector led the volumes with 16.1 million shares, followed by Technology (10.8 million) and Inv Banks (7.5 million). Among scrips, MLCF topped the chart with 6.6 million shares, followed by JSCL (5.2 million) and TRG (4.3 million).

Sectors contributing to the performance include Cement (+54 points), E&P (+50 points), Fertilizer (+46 points), Pharma (+45 points), Textile (+12 points) and Banks (-13 points).

Volumes declined from 143.6 million shares to 89.1 million shares (-38 percent DoD). Average traded value also declined by 29 percent to reach US$ 24.3 million as against US$ 33.9 million.

Stocks that contributed significantly to the volumes include MLCF, JSCL, TRG, UNITY and MACFL, which formed 27 percent of total volumes.

Stocks that contributed positively to the index include ENGRO (+41 points), POL (+21 points), LUCK (+15 points), SEARL (+13 points) and MARI (+13 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-5 points), PSO (-3 points), SNGP (-3 points), and KAPCO (-2 points).

KARACHI: The equity market ended down by 282 points on Thursday owing to selling pressure seen during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,119 points as against 34,401 points showing a decline of 282 points.

Analysts at Arif Habib Limited said that the market saw selling pressure today whereby E&P and Banking sectors contributed towards the decline besides other sectors, which were already adjusting downwards for the past couple of sessions, namely Cement, Fertilizer, OMCs and Pharmaceuticals.

Overall, the Index slid by 311 points during the session after posting a small gain of 9 points early on, closing the Index -282 points.

Yields of T-bill and 10y PIB increased significantly which diminishes the prospect of further rate cut.

At the same time, lackluster participation from Mutual Funds, Banks and Insurance (and mostly on the sell side) has made current Index levels a hurdle, despite pre-budget timeframe.

International crude prices were also under pressure, which brought E&P stocks down as well. Technology sector topped the index with 18.1 million shares, followed by Power (15.8 million) and O&GMCs (13.6 million).

Among scrips, TRG led the volumes with 11.3 million shares, followed by UNITY (11.3 million) and HASCOL (8.1 million).

Sectors contributing to the performance include Banks (-85 points), E&P (-79 points), Power (-34 points), Cement (-28 points) and Food (-24 points).

Volumes increased from 129.9 million shares to 143.6 million shares (+10 percent DoD). Average traded value, on the contrary declined by 19 percent to reach US$ 33.9 million as against US$ 41.5 million.

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

Stocks that contributed positively to the index include SNGP (+9 points), ANL (+8 points), ABOT (+7 points), PMPK (+7 points) and FFC (+5 points). Stocks that contributed negatively include OGDC (-34 points), HUBC (-31 points), PPL (-28 points), MCB (-27 points), and UBL (-24 points).

KARACHI: The stock market witnessed nominal decline of 7 points on Wednesday in narrow range trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,401 points as against 34,408 points showing a decline of 7 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range today gaining +250 points during the session and retreating all gains by the end of session, closing -7 points.

Banking sector continued the ascent today, although profit booking was also witnessed.

Fertilizer sector fell back on the news of no decision by the Government for granting subsidy on Fertilizer products, which brought down the Fertilizer sector across the board.

Pharma, Cement and Steel Sectors largely remained red throughout the session. E&P sector benefited slightly from an increase in international crude oil prices, whereby OGDC and PPL showed price gains during the session.

Banking sector led the volumes again with 20.4 million shares, followed by Technology (18.6 million) and E&P (11.5 million). Among scrips, TRG realized trading volume of 7.7 million shares, followed by PAEL (7.4 million) and PPL (6.9 million).

Sectors contributing to the performance include Power (+21 points), E&P (+20 points), Textile (+15 points), Fertilizer (-31 points), Cement (-18 points), Pharma (-17 points).

Volumes declined from 221.8 million shares to 130.0 million shares (-42 percent DoD). Average traded value also declined by 21 percent to reach US$ 41.5 million as against US$ 52.2 million.

Stocks that contributed significantly to the volumes include TRG, PAEL, PPL, HASCOL and MLCF, which formed 25 percent of total volumes.

Stocks that contributed positively to the index include HUBC (+22 points), BAFL (+15 points), POL (+13 points), PPL (+8 points) and PAKT (+8 points). Stocks that contributed negatively include ENGRO (-20 points), HBL (-18 points), DAWH (-13 points), NBP (-13 points), and AICL (-9 points).

KARACHI: The equity market gained 386 points on Tuesday as banking sector attracted attention of investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,408 points as against 34,022 points showing an increase of +386 points.

Analysts at Arif Habib Limited said that the market went up today on the back of banking sector that gained prominence post Eid.

Yesterday’s performance of Index also came largely from Banking sector and today’s continuation gave investors the confidence to invest more.

A couple of factors that helped Investors make a buying stance on Banking sector have been a gradual increase in secondary market PIB yields since last month as well as annual average inflation for FY20 in excess of 10 percent that diminishes the prospect of further rate cut and therefore a renewed interest in Banking sector.

Interestingly, international crude prices were up as well overnight and during today’s market session, however, E&P stocks didn’t pay heed to the price increase and saw selling pressure. Cement sector stocks also showed some signs of revival but remained range bound.

Banking sector stocks led the volumes with 50 million shares, followed by Technology (24.3 million) and Cement (17.3 million). Among scrips, PAEL realized trading volume of 14.2 million, followed by TRG (12.5 million) and HASCOL (12.3 million).

Sectors contributing to the performance include Banks (+332 points), E&P (+38 points), Autos (+13 points), Fertilizer -22 points), Pharma (-18 points) and Inv Banks (-14 points).

Volumes increased from 198.1 million shares to 220.6 million shares (+11 percent DoD). Average traded value also increased by 19 percent to reach US$ 52.3 million as against US$ 44.2 million.

Stocks that contributed significantly to the volumes include PAEL, TRG, HASCOL, BOP and UNITY, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include MCB (+89 points)a, UBL (+82 points), HBL (+63 points), BAFL (+35 points) and POL (+29 points). Stocks that contributed negatively include FFC (-17 points), DAWH (-14 points), SEARL (-11 points), HMB (-11 points), and OGDC (-7 points).