Tag: PSX

KARACHI: The stock market shed 479 points on Thursday owing to selling in major scrips.

The benchmark KSE-100 Index of Pakistan Stock Exchange closed at 30,159 points as against 30,638 points showing a decline of 479 points.

Analysts at Arif Habib Limited said that quite an eventful day it was, from divestment of GOP’s stakes in OGDC and PPL to resolution of GIDC issue for Fertilizer Sector and HASCOL’s result announcement.

Re-iteration of GOP’s intent to divest shares of OGDC (7 percent) and PPL (10 percent) with a host of other transactions in Bank and Power sector, caused selling pressure in both OGDC and PPL, which by the end of session resulted in PPL hitting lower circuit, whereas OGDC also saw activity near lower circuit.

For good part of the session, the index saw oscillation of +171 points and -250 points, including the episode of resolution of GIDC issue that is considered mainly positive for the Fertilizer Sector.

Resultantly, FFC and FFBL hit upper circuits but saw selling pressure at Market on Close (MOC). HASCOL also announced results that caused investors to sell at lower circuit.

Selling pressure mounted by the end of session, which resulted in market realizing a total loss of 527 points with the index closing at -497 points (unadjusted).

Sectors contributing to the performance include E&P (-156 points), Banks (-132 points), Cement (-59 points), O&GMCs (-41 points), Power (-38 points), Fertilizer (+73 points).

Volumes declined from 149 million shares to 118.4 million shares to. Average traded value also declined by 19 percent to reach US$ 27.8 million as against US$ 34.2 million.

Stocks that contributed significantly to the volumes include LOTCHEM, KEL, WTL, PAEL and OGDC, which formed 29 percent of total volumes.

Stocks that contributed positively include FFC (+67 points), EFERT (+13 points), DAWH (+12 points), FFBL (+6 points) and FATIMA (+4 points). Stocks that contributed negatively include OGDC (-70 points), PPL (-65 points), HBL (-40 points), UBL (-27 points) and LUCK (-26 points).

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Stock market gains 53 points amid selling pressure

KARACHI: The stock exchange gained 53 points on Wednesday after selling pressure eroded earlier day gain of over 500 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,638 points as against 30,585 points showing an increase of 53 points.

Analysts at Arif Habib Limited said that in a diametrically opposite fashion, compared with yesterday, the index erased all the gains made earlier during the session today when market went up by 528 points.

Market on Close (MOC) saw selling pressure that brought the index in red towards -33 points but closed at +53 points.

The uptrend earlier during the session was contributed by Refinery, Steel, Autos, Fertilizer and Cement sectors whereby index heavy weight scrips traded near upper circuit and blue chips in Refinery and Steel hit upper circuit.

Cement sector led the volumes table again with 20.5 million shares followed by Banks (15.5 million) and Chemical (15.5 million). Among scrips, KEL topped the volume with ~10 million shares, followed by MLCF (8.4 million) and UNITY (7.1 million).

Sectors contributing to the performance include Commercial Banks (+36 points), E&P (+36 points), Fertilizer (+31 points) and Tobacco (+18 points).

Volumes increased from 119.8 million shares to 149.0 million shares (+24.4 percent DoD). Average traded value however, increased by 1.5 percent to reach US$ 34.2 million as against US$ 33.7 million.

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

Stocks that contributed positively include ENGRO (+31 points), UBL (+29 points), POL (+25 points), PAKT (+18 points) and MEBL (+17 points).

Stocks that contributed negatively include DAWH (-16 points), NESTLE (-15 points), COLG (-11 points), KEL (-10 points) and HMB (-9 points).

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KSE-100 gains 64 points amid mixed trading

KARACHI: The KSE-100 index ended with gain of 64 points on Tuesday after mixed trading activities on Pakistan Stock Exchange (PSX).

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KARACHI: The stock market witnessed bearish sentiments on Monday after significant gains during the last week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,521 points as against 31,350 points showing a decline of 829 points.

Analysts at Arif Habib Limited said that start of the rollover week marked the return of pain for investors.

Market ended the session at a bearish note with an intraday slide of 939 points.

Selling pressure was observed across the board, with major pressure in E&P, Cement, Power and Steel sectors.

Crude oil prices hinted a decline, which triggered the selling in E&P Stocks. LOTCHEM announced financial results today, and posted a hefty bottom line, resulting in largest volumes on the bourse with price gains, which were kept in check by overall slide in market.

Prime Minister is also scheduled to address the nation in the evening, which also hinted a tough tone on Pakistan-India confrontation, although the major drive behind today’s sell-off appears more of a short-covering strategy by short sellers and should subside in the coming sessions.

Sectors contributing to the performance include E&P (-208 points), Banks (-142 points), Fertilizer (-118 points), Cement (-89 points) and O&GMCs (-64 points).

Volumes declined significantly from 230.7 million shares to 122.1 million shares (-47 percent DoD). Average traded value also declined by 47 percent to reach US$ 24.1 million as against US$ 45.8 million.

Stocks that contributed significantly to the volumes include LOTCHEM, BOP, MLCF, KEL and PAEL, which formed 36 percent of total volumes.

Stocks that contributed positively include PAKT (+29 points), BAFL (+3 points), FATIMA (+2 points), GSKCH (+2 points) and LOTCHEM (+2 points). Stocks that contributed negatively include OGDC (-84 points), PPL (-70 points), ENGRO (-68 points), LUCK (-48 points) and HUBC (-46 points).

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Weekly Review: foreign interest to revive amid improving external account balance

KARACHI: The stock market may slow down during next week but overall sentiments would remain positive, analysts said.

Analysts at Arif Habib Limited expect that the market momentum to slow down amid profit-taking.

“The overall sentiment to remain positive with investors continuing to accumulate scrips at current attractive valuations,” they added.

Further, foreign interest is likely to revive amid improving external account balance and strengthening foreign exchange reserves.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) sharply bounced back this week with a positive weekly return after a long six-week bloodbath.

Participation in the index also increased with volumes witnessing a drastic surge compared to recent trends.

The index closed at 31,350 points, rising 2585 points WoW (9 percent WoW) which is the highest weekly return ever in terms of points.

The stellar inflection of the index was long over-due with valuations nose-diving to dirt cheap levels.

Moreover, improving trend of the external account balance further rejuvenated sentiment, with the Current Account Deficit declining 73 percent YoY/37 percent MoM during July 2019 (USD 579 million).

The latest PIB auction saw raising of Rs434 billion against a target of Rs100 billion with cut-off yields declining by 25 bps and 40 bps for the 5-Yr and 10-Yr PIBs respectively, indicating that the markets see interest rates to have peaked.

Reduction in the cut-off yields is likely to have a positive bearing on equity valuations.

That said, the last trading session saw a decline of 534 points primarily attributable to profit-taking.

Sector-wise positive contributions were led by i) Commercial Banks (744 points) ii) Oil & Gas Exploration Companies (469 points), iii) Fertilizer (319 points), Cement (235 points), and v) Power Generation & Distribution (216 points).

Scrip-wise positive contributions came from ENGRO (256 points), OGDC (205 points), HBL (188 points), HUBC (160 points) and MCB (147 points).

Foreign selling was witnessed this week clocking-in at USD 4.97 million compared to a net buy of USD 1.70 million last week.

Selling was witnessed in Exploration & Production (USD 6.0 million) and fertilizer (USD 0.8 million). On the domestic front, major buying was reported by Individual (USD 6.5 million) and Broker Proprietary Trading (USD 3.8 million).

Average Volumes settled at 174 million shares (up by 135 percent WoW) while average value traded clocked-in at USD 38 million (up by 83 percent WoW).

KARACHI: The stock market witnessed bullish run for the fourth consecutive day and gained 912 points on Thursday.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,884 points as against 30,973 points showing an increase of 912 points.

The market cumulatively gained 3,121 points during last four sessions.

Analysts at Arif Habib Limited said that for the fourth consecutive session, market went up.

This time with a jump of 912 points, they said.

Yesterday’s PIB auction, especially 10Y bond, helped investors take a view on Policy rate, which seems mild and hinting that chances of a rate cut are improving.

Buying was observed across the board, and major contribution came from Banks, E&P and Power sector scrips.

Technology sector led the volumes with 41.8 million shares, followed by Cement (34.4 million) and Banks (32.8 million).

Scrip wise activity shows WTL topping the chart with 22.5 million shares, followed by KEL (17.9 million) and BOP (14.8 million).

BOP got traction from better result expectation, which is due to be announced tomorrow. Similarly, POL hit upper circuit on account of discovery in Makori field.

Sectors contributing to the performance include E&P (+212 points), Banks (+181 points), Fertilizer (+92 points), Cement (+86 points), and Power (+81 points).

Volumes almost doubled from 134.5 million shares to 261.6 million shares (+94 percent DoD). Average traded value also increased by 42 percent to reach US$ 48.1 million as against US$ 33.8 million.

Stocks that contributed significantly to the volumes include WTL, KEL, BOP, UNITY and TRG, which formed 31 percent of total volumes.

Stocks that contributed positively include OGDC (+81 points), PPL (+61 points), ENGRO (+58 points), POL (+52 points) and HUBC (+50 points). Stocks that contributed negatively include DAWH (-6 points), ATLH (-2 points), NCPL (-1 point), ICI (-1 point) and SHEL (-0 point).

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KSE-100 index makes gain for third consecutive session

KARACHI: The stock market gained for third consecutive trading session on Wednesday owing to improved confidence of investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,973 points as against 30,419 points showing an increase of 554 points.

The market so far gained 2209 points during the past three trading sessions.

Analysts at Arif Habib Limited said that the market continued the ascent on the third consecutive session today, with an overall increase of 554 points giving confidence to the retail and institutional Investors alike that perhaps the worst is over.

Index heavy weights such as OGDC, HBL, UBL, ENGRO, LUCK played a major role in pulling up the Index. Buying was observed almost across the board, with major impact coming from Banks and Fertilizer sectors.

Among scrips, HUBC played a major role in improving the sentiment, whereas TRG and MLCF posted volumes in excess of 10 million each.

Sectors contributing to the performance include Banks (+122 points), Fertilizer (+87 points), Power (+85 points), Cement (+77 points), E&P (+69 points).

Volumes slightly declined from 142.6 million shares to 134.5 million shares (-6 percent DoD). Average traded value also declined by 4 percent to reach US$ 33.8 million as against US$ 35.3 million.

Stocks that contributed significantly to the volumes include TRG, MLCF, BOP, ISL and KEL, which formed 30 percent of total volumes.

Stocks that contributed positively include HUBC (+69 points), ENGRO (+64 points), UBL (+55 points), LUCK (+41 points) and HBL (+36 points). Stocks that contributed negatively include IGIHL (-6 points), DAWH (-5 points), BAHL (-4 points), SHFA (-4 points) and EFUG (-4 points).

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Stock market recovers 857 points on major activities in banks, E&P sectors

KARACHI: The stock market recovered another 857 points on Tuesday owing to significant activities in exploration and production (E&P) and banking sectors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,419 points as against 29,562 points showing an increase of 857 points.

The stock market witnessed gain of 1,655 points during last two days after facing massive decline over the past few weeks.

Analysts at Arif Habib Limited said that the market was opened on a positive note today with +86 points and went as high as 941 points during the session today.

Major contributors to the index have been Banks and E&P Sectors. Index heavy weights, including ENGRO, HBL, UBL, MCB along with Auto sector scrips hit upper circuits and maintained that level for fair part of the session.

Most of the volume is observed in Banks, Cement and Technology sectors contributing 24.5 million, 17.8 million and 15.6 million respectively. Among scrips, BOP led the volumes with 10.3 million shares, followed by TRG (8.9 million) and MLCF (6.9 million).

Sectors contributing to the performance include Banks (+354 points), E&P (+152 points), Fertilizer (+113 points), Power (+70 points), and O&GMCs (+33 points).

Volumes increased further from 102.5 million shares to 142.3 million shares (+39 percent DoD). Average traded value also increased by 42 percent to reach US$ 35.3 million as against US$ 24.8 million.

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

Stocks that contributed positively include HBL (+88 points), ENGRO (+80 points), MCB (+73 points), HUBC (+66 points) and UBL (+64 points). Stocks that contributed negatively include FATIMA (-3 points), FFBL (-3 points), KEL (-1 point), PAEL (-1 point) and KTML (-1point).

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Stock market gains around 800 points on improved investors’ confidence

KARACHI: The stock market on Monday gained by around 800 points on improved confidence of investors after after significant decline during past many trading sessions.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,562 points as against 27,765 points showing an increase of 798 points.

Analysts at Arif Habib Limited said that the KSE-100 index increased significantly today, after an initial stutter of +/- 100 points.

Apparently, the mutual funds, which have been a major seller during the past several sessions, were not selling with the same aggression as in recent past.

E&P and Banks, which have received several bantering in the past couple of sessions, moved north with most volume observed in Banks.

Besides, the anticipation of lower current account deficit for the month of July 2019, talks of EMOF by State Entities were making rounds, which caused investors to remain optimistic and buy.

Several scrips, among Steel, Cement and Banking sectors hit upper circuit.

Banking sector led the volumes table with 15.2 million shares, followed by Cement (13.6 million) and O&GMCs (11.1 million).

Among scrips, TRG topped the volume charts with 7.5 million, followed by SMBL (6 million) and MLCF (5.9 million).

Sectors contributing to the performance include Banks (+257 points), E&P (+142 points), Fertilizer (+116 points), Cement (+63 points), and Power (+60 points).

Volumes also increased from 65.2 million shares to 102.5 million shares (+57 percent DoD). Average traded value also increased by 15 percent to reach $ 24.8 million as against $ 21.5 million.

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

Stocks that contributed positively include HBL (+84 points), OGDC (+73 points), MCB (+70 points), ENGRO (+59 points) and PPL (+53 points). Stocks that contributed negatively include NESTLE (-15 points), ABOT (-6 points), MTL (-5 points), AGIL (-1 points) and SHEL (-1 points).

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Stock market ends down by 664 points on negative sentiments