Tag: PSX

KARACHI: The stock market rebounded on Tuesday after massive losses a day earlier on world oil price fall and coronavirus fear.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,696 points as against 37,059 points showing an increase of 637 points.

Analysts at Arif Habib Limited said that the market rebounded today erasing most of the losses sustained yesterday.

Market opened on a positive note today with +145 points, however, dipped again and lost 145 points (intra-day).

Oil & gas stocks kept the selling pressure on, due to low oil prices that maintained a plateau of around U$34/bbl.

Interestingly, both OGDC and PPL, which were offered in huge quantities at lower lock yesterday got disposed off at and around today’s lower circuit breakers.

PSO turned out to be the head turner today with a positive opening, and closing the session at upper circuit.

Cyclicals, Cement and Steel sector stocks were on back burner in relative terms, although leading stocks managed to post decent volumes.

Cement sector posted volumes of 86.2 million shares, followed by O&GMCs (43.5 million) and Banks (28.8 million). Among scrips, MLCF realized 27.9 million shares, followed by PPL (23.6 million) and FCCL (16.1 million).

Sectors showing performance include E&P (-152 points), Banks (+353 points), Fertilizer (+112 points), O&GMCs (+93 points), Chemical (+39 points) and Pharma (+32 points).

Volumes declined from 307.9 million shares to 274 million shares (-11 percent DoD). Average traded value however, increased by 46 percent to reach US$ 106.7 million as against US$ 73.3 million.

Stocks that contributed significantly to the volumes include MLCF, PPL, FCCL, OGDC and KEL, which formed 36 percent of total volumes.

Stocks that contributed positively include HBL (+101 points), BAHL (+64 points), MCB (+60 points), PSO (+50 points) and ENGRO (+45 points).

Stocks that contributed negatively include PPL (-85 points), POL (-61 points), OGDC (-36 points), LUCK (-19 points), and HMB (-8 points).

KARACHI: The stock market made significant comeback after intraday crash on Monday and trimmed the decline 1161 points to close the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 37,059 points from last Friday’s closing of 38,220 points showing decline of 1161 points or 3.3 percent.

The market witnessed decline of 2300 points in intraday trading.

Analysts at Topline Securities said that KSE 100 index declined by 3.13 percent to close at 37,059 level, taking cue from international markets, where bears dominated following the deepest oil price cut by Saudi Arabia (sharpest decline since 1991) as OPEC failed to strike a deal with its allies regarding production cuts.

Market witnessed its first ever halt as KSE 30 index made an intraday decline of 1200 (down by -7.4 percent), where rule states that if KSE-30 Index continues to trade 4 percent above or below its opening index value for consecutive 5 minutes, trading in all securities shall be halted for 45 minutes.

E&P sector which declined by 7 percent in light of decline in oil prices was largely responsible for market halt, as the sector has a significant weight of 19 percent in KSE 30 index.

Secondly, the expectation of a rate cut gained further momentum consigning banks to the depths with several index heavy banks (HBL,UBL, BAHL, BAFL, MEBL) hitting lower locks.

As a result the 100 index was down 2,302 points at its lowest ebb.

Some recovery was witnessed in the market on the back of cyclicals, as investor’s started cherry picking especially in the cement sector given the high leverage status.

Trading volume and value for the day stood at 308mn shares and Rs.11.4 billion respectively. FCCL was today`s volume leader with 30.7 million shares.

KARACHI: Trading at the stock market has been halted after witnessing lower lock on Monday morning owing to sharp decline in world oil price.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 2,107 points or 5.83 percent at the opening on Monday morning.

The market was trading at 36,113 points when it was suspended on lower lock. The market was closed at 38,220 on last Friday.

Analysts said that the sharp decline in world oil prices was behind stock market crash.

KARACHI: The fears over Coronavirus and its impact on the economy, as well as the continuation in pressure on global equities is likely to keep market performance subdued.

That said, valuations across the board particularly in blue-chips have reached attractive levels, analysts at Arif Habib Limited said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.9x (2020) compared to Asia Pac regional average of 11.6x and while offering DY of ~7.2 percent versus ~2.8 percent offered by the region.

A significantly lower inflationary reading for February 2020 (12.4 percent vs 14.6 percent in Jan’20) provided respite to investors as expectations of a rate cut in the MPS this month set in, creating positive sentiment in cyclical sectors (Cement sector attracted buying).

However, with the total number of Coronavirus cases in Pakistan rising to 6, and with the continuous rise in cases outside China (close to 20,000 now), the trickle-down effect of a global-sell off in equities did create pressure in the index. However, the KSE-100 Index closed at 38,220 points, up 236 points WoW (+0.62 percent)

Sector-wise negative contributions came from i) Banks (388pts) led by expectations of a rate cut this month, ii) Power generation & Distribution (49pts) and iii) Miscellaneous (10pts).

Positive contributions came from Cement primarily (329pts). Scrip-wise negative contributions were led by HBL (119pts), UBL (71pts), and BAFL (54pts) while positive contributions were led by LUCK (113pts), and DGKC (51pts).

Foreign selling continued this week clocking-in at USD 16.7 million compared to a net sell of USD 22.5 million last week.

Selling was witnessed in Cement (USD 5.1 million) and E&P (USD 3.5 million). On the domestic front, major buying was reported by Mutual Funds (USD 15.4 million) and Companies (USD 11.1 million).

Average Volumes remained stable at 243 million shares while average value traded clocked-in at USD 65 million (up by 35 percent WoW).

KARACHI: The stock market plunged by 1162 points on Friday owing to massive selling activities during the last trading day of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,220 as against 39,382 points showing the decline of 1162 points.

Analysts at Topline Securities said that spillover of the selloff in the global markets was observed at the local bourse as the index declined by 3 percent to close at 38,220 level.

Global markets declined as fear of coronavirus resurfaced after multiple new cases of the lethal virus were reported in leading world economies.

OPEC’s vow to cut down oil production by 1.5 million barrels a day failed to give support to the oil prices, as concerns over global demand and ambiguity on whether Russia will participate in production cut weighed down on the price.

As a result E&P sector lost -4.56 percent during the trading session. Banking sector too closed down -3.67 percent as investor’s factored in potential decline in policy rate in upcoming Monetary Policy statement. MLCF was today`s volume leader with 27 million shares.

KARACHI: The stock market gained 476 points on Thursday owing to positive sentiments prevailed after decline in cut-off yield of government papers.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,382 points as against 38,906 points showing an increase of 476 points.

Analysts at Topline Securities said that in line with the international and regional markets, KSE 100 index marked decent comeback, as the index gained +1.2 percent to close at 39,382 level.

Decline in PIB yields in the range of 15-46 basis points in yesterday’s auction also provided stimulus to the market.

Despite positivity in the market, banking sector declined by 1 percent as speculations over the decline in policy rate in upcoming monetary policy committee meeting are doing rounds.

Investor confidence improved as traded volume and value went up by 82 percent and 80 percent respectively compared to last day. FCCL was today`s volume leader with 30 million shares.

KARACHI: The stock market ended down by 293 points on Wednesday owing as selling pressure gripped the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,906 points as against 39,200 points showing a decline of 293 points.

Analysts at Arif Habib Limited said that the market continued to slide with another draw down of 437 points during the session.

By the close of session, index recovered somewhat but ended negative 293 points from LDCP.

Other than Cement and Steel sector scrips, all the other sectors sustained losses.

News related to Naya Pakistan Housing Scheme, higher PSDP utilization and indication of relaxation from IMF on fiscal targets kept Investors’ interest alive, preferring cyclical stocks over index heavy weights like HBL, UBL, ENGRO, HUBC, FFC, OGDC and PPL. Oil & gas chain disregarded the hike in international crude prices and had muted interest from investors.

Cement sector remained in the limelight with 71.3 million shares, followed by Banks (23.1 million) and O&GMCs (21.7 million). Among scrips, MLCF realized trading volume of 23.4 million shares, followed by HASCOL (19.2 million) and BOP (15.9 million).

Sectors contributing to the performance include E&P (-107 points), Power (-53 points), Fertilizer (-45 points), O&GMCs (-26 points), Inv Banks (-20 points) and Cement (+38 points).

Volumes declined from 225.3 million shares to 186.8 million shares (-17 percent DoD). Average traded value also declined by 16 percent to reach US$ 47.8 million as against US$ 56.8 million.

Stocks that contributed significantly to the volumes include HASCOL, BOP, FCCL, PIOC and UNITY, which formed 45 percent of total volumes.

Stocks that contributed positively include MCB (+20 points), FFC (+20 points), COLG (+16 points), PAKT (+13 points) and UBL (+12 points). Stocks that contributed negatively include ENGRO (-46 points), HUBC (-45 points), OGDC (-43 points), PPL (-33 points), and MEBL (-20 points).

KARACHI: The equity market fell by 97 points on Tuesday after investors preferred profit taking.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,200 points as against 39,296 points showing a decline of 97 points.

Analysts at Arif Habib Limited said that the market continued the ascent realizing a gain of +570 points during the session, but felt the need to consolidate and book profits, which saw index sliding back by -239 points.

Cement sector has so far shown the strength, which resisted last week and even made a strong comeback when the despair ended.

Reports of Cement manufacturers meeting in the coming days to resolve the issues kept the interest alive among investors.

On the other hand, news of FFC cutting back the price of Urea concerned investors to ditch fertilizer stocks and consider safe havens such as Cyclicals and otherwise Oil & gas chain.

Cement sector again led the traded volumes with 63.2 million shares, followed by O&GMCs (26.5 million) and Technology (22.7 million).

Among scrips, MLCF topped the chart with 20.9 million shares, followed by UNITY (20.5 million) and HASCOL (19.2 million).

Sectors contributing to the performance include Fertilizer (-101 points), Power (-42 points), Banks (-32 points), E&P (+52 points) and Technology (+23 points).

Volumes increased from 215.3 million shares to 225.2 million shares (+5 percent DoD). Average traded value, however, dipped by 3 percent to reach US$ 56.7 million as against US$ 58.7 million.

Stocks that contributed significantly to the volumes include MLCF, UNITY, HASCOL, TRG and FCCL, which formed 38 percent of total volumes.

Stocks that contributed positively include PPL (+23 points), OGDC (+18 points), TRG (+15 points), HASCOL (+15 points) and POL (+14 points). Stocks that contributed negatively include FFC (-44 points), ENGRO (-40 points), HUBC (-37 points), LUCK (-32 points), and EFERT (-17 points).

KARACHI: The stock market surged by 1,313 points on Monday owing to slowing down in inflation growth. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,296 points as against 37,984 points showing an increase of 1313 points.

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