Tag: PSX

KARACHI: The stock market likely to continue its positive momentum next week on the back of continuous improvement in the macroeconomic situation of the country.

Analysts at Arif Habib Limited said that foreign interest in the equity as well as debt markets posits healthy signs for overall investment climate going forward.

The KSE-100 index is currently trading at a PER of 7.1x (2020) compared to Asia Pac regional average of 13.4x and while offering DY of around 7.9 percent versus around 2.6 percent offered by the region.

Trading in the green continued this week as the index continued its bullish momentum as the banking sector led the charge this week.

The current week saw Moody’s changing its outlook on Pakistan from “Negative” to “Stable” on account of improving external account position of the country on the back of the government’s corrective measures.

This was followed by up-gradation of outlook to “stable” for the Big 5 banks, spurring buying activity in the banking sector.

Trade deficit data came this week as well which once again saw an improvement, declining 36 percent YoY during November 2019.

Consolidation of the country’s reserves continued, as SBP reserves touched an 8 month high at USD 9.1 billion. The KSE-100 Index settled at 40,732 points (up 1445 points WoW).

Sector-wise positive contributions came from i) Commercial banks (645 points), ii) Oil & Gas Marketing (131 points), and iii) Power Generation & Distribution (97 points) iv) E&P (84 points), and v) Insurance (79 points). Scrip-wise positive contributions were led by HBL (155 points), MCB (144 points), UBL (87 points), BAFL (78 points) and HUBC (75 points).

Foreign buying was witnessed this week clocking-in at USD 1.1 million compared to a net sell of USD 8.1 million last week. Buying was witnessed in Fertilizer (USD 8.4 million) and OMCs (USD 2.2 million).

On the domestic front, major selling was reported by Banks / DFIs (USD 22.3 million) and Other Organization (USD 3.3 million). Average Volumes settled at 465 million shares (up by 34 percent WoW) while average value traded clocked-in at USD 105 million (up by 31 percent WoW).

KARACHI: The stock market gained 91 points on Friday amid selling pressure witnessed in the market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,732 points as against 40,641 points showing an increase of 91 points.

Analysts at Arif Habib Limited said that the market opened on a positive note, closed the first session +176 points and went as high as +347 points.

MoC faced selling pressure, bringing the index down and closing +91 points. Sectors performing E&P and O&GMCs.

Selling pressure, on the other hand was largely witnessed in Banking sector, which have so far seen massive rally and faced profit booking.

Cement sector also saw selling pressure. Cement sector led the volumes table with 84.8 million shares, followed by Vanaspati (53.5 million) and Technology (35.2 million).

Among scrips, UNITY saw volumes of 53.5 million shares followed by FCCL (31.9 million) and MLCF (18.6 million).

Sectors contributing to the performance include E&P (+64 points), Food (+30 points), Insurance (+21 points), Fertilizer (+23 points) and Chemical (+15 points).

Volumes declined from 507.9 million shares to 416.1 million shares (-18 percent DoD). Average traded value also declined by 25 percent to reach US$ 97.7 million as against US$ 129.8 million.

Stocks that contributed significantly to the volumes include UNITY, FCCL, MLCF, FFL and MLCFR1, which formed 32 percent of total volumes.

Stocks that contributed positively include PPL (+34 points), BAHL (+30 points), HUBC (+26 points), EFERT (+23 points) and OGDC (+23 points). Stocks that contributed negatively include PSO (-27 points), HBL (-21 points), SEARL (-15 points), KAPCO (-14 points), and LUCK (-14 points).

KARACHI: The stock market gained 371 points on Thursday owing to improved rating of top five banks of Pakistan.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,641 points as against 40,271 points showing an increase of 371 points.

Analysts at Arif Habib Limited said that following up the country ratings, Moody’s improved the rating for 5 Pakistan Banks as well, which caused the price gains in banking sector stocks in general, besides buying activity in cyclicals.

News of increase in cement dispatches over the 5 month period also gave confidence to investors to invest in Cement as well as Steel sector.

The benchmark KSE100 index recorded highest traded value for CY2019 so far with US$ 129.6 million. Traded volumes also crossed 500 million mark again with majority in Cement sector (111.6 million), followed by Banks (51.4 million) and Power (36.6 million).

Among scrips, UNITY registered volumes of 35.2 million shares followed by FCCL (34 million) and MLCF (20.5 million).

Sectors contributing to the performance include Banks (+105 points), E&P (+80 points), O&GMCs (+55 points), Cement (+54 points) and Fertilizer (+29 points).

Volumes increased significantly from 393.2 million shares to 507.5 million shares (+29.1 percent DoD). Average traded value also increased by 36 percent to reach US$ 129.6 million as against US$ 95.4 million.

Stocks that contributed significantly to the volumes include UNITY, FCCL, MLCF, KEL and TRG, which formed 25 percent of total volumes.

Stocks that contributed positively include PPL (+53 points), HBL (+42 points), PSO (+28 points), POL (+26 points) and NBP (+24 points). Stocks that contributed negatively include GLAXO (-9 points), MARI (-9 points), DAWH (-8 points), MTL (-7 points), and KAPCO (-5 points).

The Pakistan Stock Exchange (PSX) witnessed a robust upward trend on Wednesday as the benchmark KSE-100 index soared by 482 points, closing at 40,271 points compared to 39,789 points the previous day.

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KARACHI: The stock market ended down by 389 points on Tuesday owing to profit taking after the market witnessed massive gains during past days.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,735 points as against 40,124 points showing a decline of 389 points.

Analysts at Arif Habib Limited said that the market finally took some correction today when the index slid by around 400 points and closed the session at -389 points.

Selling pressure was mainly observed in Banks, but was otherwise felt in Autos, E&P, Steel and Cement sector as well. Refinery sector performed well with ATRL and NRL hitting upper circuits.

The main idea behind selling appeared profit booking, where the index crossed psychological barrier of 40,000.

Cement sector led the trading volumes with 62 million shares, followed by Technology (51.2 million) and Power (50.1 million).

Among scrips, KEL realized 42.8 million shares I trading volume, followed by TRG (25.3 million) and BOP (19.1 million).

Sectors contributing to the performance include Banks (-116 points), Cement (-80ps), Fertilizer (-67 points), O&GMCs (-21 points) and Chemical (-21 points).

Volumes declined slightly from 557.4mn shares to 448.5 million shares (-20 percent DoD). Average traded value also declined by 12 percent to reach US$ 93 million as against 106.1 million.

Stocks that contributed significantly to the volumes include KEL, TRG, BOP, MLCF and FFL, which formed 27 percent of total volumes.

Stocks that contributed positively include MCB (+27 points), NESTLE (+16 points), SEARL (+15 points), PKGS (+9 points) and EFERT (+9 points). Stocks that contributed negatively include ENGRO (-59 points), UBL (-40 points), LUCK (-37 points), BAHL (-28 points), and SNGP (-21 points).

KARACHI: The stock exchange has registered significant gain of 837 points on Monday on upgrade of credit rating of Pakistan to stable from negative.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,124 points as against 39,287 points showing an increase of 837 points.

Analysts at Arif Habib Limited said that the market finally crossed 40,000 level today, which was last seen in February 2019.

Trading volumes also increased significantly to 557 million shares. International Ratings Agency, Moody’s has reportedly upgraded Pakistan’s outlook from Negative to Stable and affirmed B3 rating.

This further gave confidence to investors carrying the bull run witnessed from 36,000 level. Banking sector continued upbeat performance on the bourse with volumes crossing 110 million shares, followed by Cement (64.7 million) and Power (47 million). Among scrips, BOP led the volumes with 74.9 million shares, followed by KEL (40.8 million) and UNITY (37.7 million).

Sectors contributing to the performance include Banks (+516 points), Power (+73 points), O&GMCs (+53 points), Cement (+52 points), Textile (+36 points).

Volumes increased significantly from 431.8 million shares to 557.3 million shares (+29 percent DoD). Average traded value also increased by 14 percent to reach US$ 106.1 million as against US$ 93.2 million.

Stocks that contributed significantly to the volumes include BOP, KEL, UNITY, FFL and PAEL, which formed 34 percent of total volumes.

Stocks that contributed positively include HBL (+119 points), MCB (+92 points), UBL (+89 points), BAHL (+59 points) and HUBC (+51 points). Stocks that contributed negatively include OGDC (-49 points), PPL (-24 points), POL (-19 points), MTL (-8 points), and COLG (-7 points).

KARACHI: The stock market to remain positive during next week owing to inflows in treasury bills and improved macroeconomic position of the country, analysts said.

Analysts at Arif Habib Limited hoped that market to remain positive on the back of improving macroeconomic position, country witnessing foreign net inflows in T-bills to USD 1,154 million in FY20TD, declining fixed income yields, improvement in ease of doing business, stable market determined exchange rate since last four months around 156/USD, and likelihood of monetary easing to start soon.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 6.7x (2020) compared to Asia Pac regional average of 13.5x while offering a dividend yield of ~8.1 percent versus ~2.6 percent offered by the region.

During the outgoing week trading commenced on a positive note attributable to State Bank leaving discount rate unchanged which bode well for local bourse. However, the index lost -400 points on Tuesday as Honorable Supreme Court took notice on Army Chief’s appointment.

Meanwhile, index recovered after considering this appointment as a procedural issue along with continuous surge in foreign investment in T-Bills which crossed USD 1bn mark leading to rising foreign exchange reserves improving investor’s sentiments.

As a result, the benchmark KSE-100 index crossed 39K mark after eight months and closed at 39,288 points, increasing by 1,362 points or 3.59 percent WoW. During Nov’19, KSE-100 index increased by 5,084 points or 14.9 percent MoM (this is highest ever monthly return after May’13).

Contribution to the upside was led by i) Commercial Banks (+522 points) due to attractive valuation, ii) Cement (+120 points) amid robust sales numbers, iii) Fertilizer (+116 points), iv) Automobile Assemblers (+80 points), and v) Chemicals (+75 points).Scrip wise major gainers were HUBC (+132 points), FFC (+94 points), PSO (+40 points), LUCK (+32 points), and NATF (+29 points). Whereas, scrip wise major losers were HBL (-63 points), BAHL (-26 points), and PIBTL (-15 points).

Foreign offloaded stocks worth of USD 8.06 million compared to a net buy of USD 8.46 million last week. Major selling was witnessed in Cements (USD 3.36 million) and E&P (USD 1.95 million).

On the local front, buying was reported by Mutual Funds (USD 11.06 million) followed by Individuals (USD 7.30 million). That said, average daily volumes for the outgoing week were up by 5 percent to 348 million shares likewise value traded increased by 8 percent to USD 80 million.

KARACHI: The stock market gained 581 points on Friday despite buying activities in major scrips.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,288 points as against 38,706 points showing an increase of 581 points.

Analysts at Arif Habib Limited said that the aarket went up again by +746 points during today’s sessions, following the resolution of General Bajwa’s extension, however, the market closed with +581 points.

Market saw brisk buying activity with major contribution from Banks.

Though E&P remained positive, even better performance was seen in Refinery and OMCs sectors.

Banks realized trading volume of 86 million shares, mainly contributed by BOP (51.8 million) and BIPL (12.8 million).

Chemical and Cement sectors trailed Banks with 37.7 million and 35.5 million shares respectively. Among scrips, BOP was followed by PAEL (20.1 million) and KEL (16.4 million).

Sectors contributing to the performance include Banks (+277 points), Power (+45 points), Cement (+31 points), Autos (+26 points) and Insurance (+25 points).

Volumes increased further from 348.5 million shares to 428.9 million shares (+23 percent DoD).

Average traded value also increased by 18 percent to reach US$ 92.6 million as against US$ 78.2 million.

Stocks that contributed significantly to the volumes include BOP, PAEL, KEL, BIPL and PIBTL, which formed 26 percent of total volumes.

Stocks that contributed positively include HBL (+97 points), UBL (+76 points), HUBC (+37 points), BAHL (+17 points) and BAFL (+17 points). Stocks that contributed negatively include SNGP (-7 points), MARI (-7 points), EFERT (-6 points), INIL (-4 points), and OGDC (-4 points).

KARACHI: The stock exchange gained 584 points on Thursday on buying activities and improved sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,706 points as against 38,123 points showing an increase of 584 points.

Analysts at Arif Habib Limited said that expectation of resolution of the controversy regarding COAS extension in Service helped Index recover, as Investors (largely Individuals and Corporates) have been buying the dips since last week.

Market opened on a positive note and reached +724 points. Activity was observed across the board with major activity being observed in Cement and Banks.

Profit booking was also seen during the day which brought the index down to +584 points and closed the session at that.

Auto sector has generally been rallying on the back of upcoming Auto Industrial Development Policy, where shares were seen hitting upper circuit in today’s session.

Cement sector led the volumes with 48.8 million shares, followed by Banks (40 million) and Engineering (36.5 million).

Among scrips, UNITY again topped the charts with 20.4 million shares, followed by PAEL (19.7 million) and TRG (15.8 million).

Sectors contributing to the performance include Banks (+91 points), Power (+75 points), Cement (+59 points), E&P (+48 points) and O&GMCs (+46 points).

Volumes staged a strong comeback with 348.2 million shares against 228.4 million the other day (+52 percent DoD).

Average traded value also increased by 52 percent to reach US$ 78.1 million as against US$ 51.5 million.

Stocks that contributed significantly to the volumes include UNITY, PAEL, TRG, BIPL and FFL, which formed 24 percent of total volumes.

Stocks that contributed positively include HUBC (+68 points), PSO (+31 points), MCB (+30 points), LUCK (+29 points) and NBP (+23 points). Stocks that contributed negatively include SHFA (-7 points), HBL (-5 points), BAFL (-4 points), PMPK (-3 points), and PKGS (-3 points).