Tag: PSX

KARACHI: The equity market gained 545 points on Monday following positive comments came from the finance minister at an even.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,852 points as against 38,307 points showing an increase of 545 points.

Analysts at Arif Habib Limited said that the market opened on a positive note with +49 points and initially leaped forward +200 points however, low volumes and lack of interest by investors in general caused the index to slide.

The market came down by 145 points, again with low volumes. Mid day, activity started picking pace with first signs of recovery in KEL, followed by Cement sector and then spreading to all and sundry.

Positive comments by participants in a Bloomberg conference and days of lethargic activity is believed to have caused an improvement in sentiment and increase in otherwise poor trading volumes.

Sectors leading the volumes table include Power (KEL), Banks (BOP) and Cement (MLCF). Large cap stocks such as UBL, HBL, ENGRO, OGDC increased significantly that had the index close +566 points (unadjusted).

Sectors contributing to performance include Banks (+230 points), Fertilizer (+93 points), Cement (+70 points), Power (+47 points), & O&GMCs (+38 points).

Volumes declined from 129.5mn shares to 99.4 million shares (-23 percent DoD). Average traded value also declined by 3 percent to reach US$ 32 million as against US$ 33.1 million.

Stocks that contributed significantly to the volumes include KEL, BOP, PAEL, PIBTL and TRG, which formed 39 percent of total volumes.

Stocks that contributed positively include HBL (+91 points), MCB (+69 points), FFC (+43 points), HUBC (+35 points), and LUCK (+34 points). Stocks that contributed negatively include COLG (-12 points), IGIHL (-7 points), JLICL (-7 points), SEARL (-7 points) and PMPK (-5 points).

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Weekly Review: market to stay range bound on delay in IMF program

KARACHI: The equity market likely to stay range bound next week due to delay in the IMF agreement, analysts said on Saturday.

Key near term events include visit of the Malaysian Premier on Pakistan Day (23rd Mar’19) as well as the State Bank of Pakistan’s Monetary Policy this month.

Analysts at Arif Habib Limited said that market climate appeared gloomy this week with investors cautiously navigating through murky waters.

As economic headwinds continue to subdue overall growth, market participants have hopes attached to a potential agreement with the IMF to bring the economy back to the right track and improve sentiment.

This week, the benchmark index lost 643 points (-1.7 percent WoW) to settle at 38,306 points.

Sector-wise negative contributions came from i) Commercial Banks (149 points), ii) Cement (120 points), iii) Oil and Gas Exploration Companies (109 points), iv) Oil and Gas Marketing Companies (76 points), and v) Power Generation & Distribution Companies (53 points).

Whereas, sectors that contributed positively include i) Tobacco (48 points), and ii) Textile Composite (7 points). Scrip-wise major laggards were LUCK (68 points), MCB (50 points), POL (49 points), HBL (48 points) and OGDC (39 points).

Foreign selling continued this week clocking-in at USD 15.6mn compared to a net sell of USD 3.5mn last week. Selling was witnessed in Exploration & Production (USD 13.4mn) and Cement (USD 1.5mn).

On the domestic front, major buying was reported by Insurance (USD 8.3mn) and Companies (USD 3.6mn). Volumes during the week settled at 93mn shares (down by 18 percent WoW) whereas value traded arrived at USD 27mn (down by 21 percent WoW).

Other major news: i) Overseas Pakistanis remit USD 14.35bn in 8MFY19, ii) Trade deficit narrows 11 percent to USD 21.5bn in Jul-Feb’19, iii) Foreign reserves increase to USD 14.965bn, iv) LSM growth falls by 2.3 percent in 7 months, v) Largest hosiery producer goes public, vi) and PSDP for FY2019-20 likely to stay unchanged at PKR 675bn.

KARACHI: The equity market ended down by 120 points in narrow trading activities on Thursday. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,808 points as against 38,929 points showing a decline of 120 points.

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The equity market saw modest gains on Wednesday, with the benchmark KSE-100 index closing at 38,929 points, up from the previous day’s 38,896 points, marking an increase of 32 points.

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KARACHI: Trading at the equity market was remained lackluster as the taxation measures failed to attract investors.

The benchmark KSE-100 index closed at 38,896 points as against 38,924 points showing a decline of 28 points.

The government on the demand of stock market abolished the advance tax on sale and purchase of shares and also allowed loss carry forward for next three years.

Analysts at Arif Habib Limited said that the market repeated the pattern witnessed in the past couple of sessions, viz an increase in the beginning of session followed by selling till the end.

The index again traded in a narrow range and oscillated between +106 points and -276 points.

Traded volumes improved over the day but were still lethargic considering the hey-days.

The banks again led the volumes table (18.3 million), contributed by BOP (11.5 million), followed by Cement sector which took the cue from anticipated construction activity as indicated by the prime minister.

Large cap banks and E&P remained on the negative side throughout the session and were the main reasons for slide in index.

Sectors contributing to the performance include Banks (-92 points), Autos (-12 points), Cement (+28 points), E&P (+24 points), Pharma (+11 points).

Volumes increased from 68 million shares to 90 million shares (+32 percent DoD). Average traded value also increased by 19 percent to reach US$ 28.3 million as against US$ 23.8 million.

Stocks that contributed significantly to the volumes include BOP, WTL, DCL, KEL and FCCL, which formed 43 percent of total volumes.

Stocks that contributed positively include OGDC (+26 points), ABOT (+13 points), PMPK (+11 points), HMB (+9 points), and LUCK (+9 points). Stocks that contributed negatively include MEBL (-32 points), HBL (-27 points), MCB (-20 points), ENGRO (-11 points) and BAFL (-10 points).

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Equity market sheds 26 points in range bound trading

KARACHI: The equity market has lost 26 points on Monday in a range bound trading activities.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,924 points as against 38,950 points showing a decline of 26 points.

Analysts at Arif Habib Limited the market remained range bound throughout the day and oscillated between -74 points to +196 points.

The index went up earlier during the day but selling pressure brought the index down.

Majority of the volumes were observed in OGDC on the downside, both in regular market (2.6 million) and also on NDM (6.3 million).

Other than OGDC, PPL and POL also saw activity on the downside.

Banking sector topped the volumes chart, out of which BOP saw volume of 16 million.

Volumes remained anaemic and investors generally remained cautious as the market is coming off slowly again after it dropped significantly last week due to tensions on the border.

Sectors contributing to the performance include Banks (+46 points), Fertilizer (-21 points), E&P (-17 points), O&GMCs (-12 points), Insurance (-12 points), Autos (-7 points).

Volumes declined again from 74 million shares to 68 million shares (-9 percent DoD).

Average traded value also declined by 12 percent to reach US$ 23.8 million a as against US$ 27.1 million.

Stocks that contributed significantly to the volumes include BOP, KEL, DCL, UNITY and OGDC, which formed 43 percent of total volumes.

Stocks that contributed positively include MEBL (+21 points), UBL (+16 points), PMPK (+10 points), KTML (+9 points), and HCAR (+8 points). Stocks that contributed negatively include ENGRO (-15 points), OGDC (-12 points), PSMC (-8 points), JLICL (-7 points) and EFERT (-6 points).

KARACHI: The equity market to stay range bound during next week after end of results season and ease in tension between Pakistan and India.

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KARACHI: The stock market remained in red zone on Friday owing to selling pressure and lost another 344 points on the last trading day of the week.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) was ended by 344 points to 38950 points from previous day’s closing of 39294 points.

The analysts said that the recently approved finance bill by the parliament failed to uplift the sentiments of investors.

The stock market was witnessing a continuous decline over the past few days owing to economic conditions of the country and discouraging profitability of corporate sector.

KARACHI: The equity market ended down by 274 points on Thursday due to selling pressure.

The benchmark KSE-100 index closed at 39,294 points as against 39,568 points showing a decline of 274 points.

Analysts at Arif Habib Limited said that the market was remained under pressure today and after exclusion of trades in BOP, the market has been timid since Monday.

Banking sector again led the volumes table, and for the fourth consecutive day in this week, BOP topped with 8 million shares.

BOP’s price went low again and the activity intensified in the last closing hour.

Chemical sector, on the other hand, gained some ground after a while. LOTCHEM & DOL appear in the top 10 volumes table in addition to price increase.

E&P sector was also among the sectors that caused selling pressure and pushed the index down.

Rumors of foreigners selling block of OGDC’s shares added pressure to the already declining stock price.

Sectors contributing to the performance include E&P (-68 points), Banks (-50 points), Power (-40 points), O&GMCs (-31 points), Fertilizer (-31 points), Autos (+37 points).

Volumes increased slightly from 81 million shares to 83 million shares (+2 percent DoD). Average traded value decreased by 3 percent to reach US$ 27.6 million as against US$ 28.4 million.

Stocks that contributed significantly to the volumes include BOP, STPL, LOTCHEM, DOL and KEL, which formed 32 percent of total volumes.

Stocks that contributed positively include INDU (+18 points), MEBL (+14 points), PMPK (+10 points), PSMC (+7 points), and HCAR (+7 points). Stocks that contributed negatively include OGDC (-48 points), HUBC (-32 points), BAHL (-27 points), PPL (-23 points) and UBL (-20 points).