Tag: PSX

The Pakistan Stock Exchange (PSX) witnessed a significant downturn on Wednesday, with the benchmark KSE-100 index plummeting by 650 points.

(more…)

KARACHI: Pakistan equities ended down by 157 points on Tuesday owing to profit taking observed during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,190 points from previous day’s closing of 42,347 points, showing a decline of 157 points.

READ MORE: Stocks gain 134 points in range bound trading

Analysts at Topline Securities said that Pakistan equities had a range bound day today.

The KSE-100 index initially opened in a green zone, made an intraday high at 42,524 (+176 points; up 0.42 per cent) where profit taking started and pushed the benchmark index towards intraday low at 42,157 (-191 points; down 0.45 per cent) before eventually settling at 42,190 (-157 points; up 0.37 per cent) for the day.

During the day, many companies announced their quarterly results including followings:

READ MORE: Weekly Review: market to stay positive after Pakistan exit from FATF grey list

FFBL: FFBL: 3Q2022 EPS at Rs -0.46 vs. Rs3.11 in 3Q2021 – Earnings lower than expectations – Dividend: NIL

OGDC: 1QFY23 EPS at Rs12.39 (+58 per cent YoY & +145 per cent QoQ); Earnings higher than industry expectations – Dividend: 1.75

DGKC: 1QFY23 EPS at Rs0.9 (-57 per cent YoY); Earnings lower than industry expectations – Dividend: NIL

POL: 1QFY23 EPS at Rs29.59 (+60 per cent YoY & +0 per cent QoQ); Earnings in line with industry expectations – Dividend: NIL

READ MORE: Pakistan stocks trade range bound amid PTI chief disqualification

During the day, Power, Fertilizer & E&P sector stocks contributed positively to the index where HUBC, DAWH, POL, EFERT & ENGRO added 100 points, cumulatively.

On the flip side, TRG, SYS and DGKC have witnessed some profit taking as they lost 118 points collectively, today.

Around 195 million shares traded today at the bourse while total value clocked in at Rs 6.2 billion. HASCOL led the volumes chart today with trading of 35.2 million shares in it.

READ MORE: Stocks end down as rupee fall erodes confidence

KARACHI: Pakistan stocks gained 134 points on Monday as the market traded in a range bound session.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,347 points from last Friday’s closing of 42,213 points, showing an increase of 134 points.

READ MORE: Weekly Review: market to stay positive after Pakistan exit from FATF grey list

Analysts at Arif Habib Limited said that the benchmark KSE-100 index witnessed a range bound session during the day.

Despite having an astounding news that Pakistan has been taken off from the “grey list” of the Financial Action Task Force (FATF), the PSX was unable to capitalize from it because of political upheaval as investor’s participation remained sideways.

READ MORE: Pakistan stocks trade range bound amid PTI chief disqualification

The mainboard had reasonable volumes, although the top volume leaders remained the third-tier stocks.

Sectors contributing to the performance include Technology & Communication (46.9 points), Fertilizer (40.9 points), E&P’s (24.4 points), Power Generation & Distribution (22.6 points) and Automobile Parts & Accessories (7.2 points).

READ MORE: Stocks end down as rupee fall erodes confidence

Volumes decreased from 289.6 million shares to 226.7 million shares (-21.7 per cent DoD). The average traded value also dereased by -22.9 per cent to USD 27.5 million as against USD 35.6 million.

Stocks that contributed significantly to the volumes are WTL, DFML, PRL, HASCOL and TRG.

READ MORE: Stocks gain 387 points as trade deficit narrows

KARACHI: The stock market is likely to trade in positive territory during next week owing to Pakistan’s exit from the grey list of Financial Action Task Force (FATF).

Analysts at Arif Habib Limited said that the market is expected to remain positive in the upcoming week as the participants will celebrate the removal of Pakistan from FATF’s grey list.

Furthermore, in case of materialization of inflow of $1.5 billion from Asian Development Bank (ADB), the market will respond positively. However, the political noise will keep the market in check.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.1x (2023) compared to Asia Pac regional average of 12.2x while offering a dividend yield of 9.8 per cent versus 3.0 per cent offered by the region.

The market commenced on a negative note this week amid hustle and bustle in the political arena. Furthermore, the Pakistani Rupee remained under pressure against the greenback, closing at PKR 220.84 (down by PKR 2.41 | 1 per cent WoW).

READ MORE: Pakistan stocks trade range bound amid PTI chief disqualification

Furthermore, the foreign exchange reserves of State Bank of Pakistan (SBP) remained unchanged at $7.6 billion this week. In addition to this, the Foreign Direct Investment (FDI) declined by 47 per cent YoY during the first quarter of fiscal year 2022/2023.

The momentum shifted towards the green zone since the current account deficit narrowed by 72.5 per cent YoY to $316 million during September 2022 (lowest since April 2021).

Furthermore, a statement from the USA showing confidence in Pakistan’s nuclear energy strengthened the sentiment.

Moreover, a loan worth $1.5 billion from ADB was finalized during the week, which kept the momentum strong. The market closed at 42,213 points, gaining 265 points (up by 0.63 per cent) WoW.

Sector-wise positive contributions came from i) Fertilizer (112 points), ii) Power (82 points), iii) E&Ps (49 points), iv) Banks (37 points) and v) Tobacco (31 points). Whereas, sectors which contributed negatively were i) Technology (40 points), and ii) Chemical (28 points).

READ MORE: Stocks end down as rupee fall erodes confidence

Scrip-wise positive contributors were HUBC (80 points), ENGRO (77 points), MARI (51 points), POL (44 points) and MTL (40 points). Meanwhile, scrip-wise negative contributions came from PPL (31 points), PSO (26 points), SYS (19 points), TRG (18 points) and EPCL (16 points).

Foreigners selling was witnessed during this week, clocking in at $3.4 million compared to a net buy of $12.3 million last week. Major selling was witnessed in Commercial Banks ($1.9 million), Technology ($1.1 million) and All Other Sectors ($0.9 million). On the local front, buying was reported by Individuals ($5.4 million) followed by Broker Proprietary Trading ($0.9 million).

Average volumes clocked in at 228 million shares (down by 14 per cent WoW) while average value traded settled at $28 million (down by 35 per cent WoW).

READ MORE: Stocks gain 387 points as trade deficit narrows

KARACHI: Pakistan stocks remained traded in range bound on Friday owing to disqualification of PTI chief by the Election Commission.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,213 points from previous day’s closing of 42,137 points, showing a gain of 76 points.

READ MORE: Stocks end down as rupee fall erodes confidence

Analysts at Topline Securities said that KSE 100 Index largely remained range bound during the trading hours as the index gained to make an intraday high of 108 points and intraday low of -343 points to finally close at 42,214 level.

READ MORE: Stocks gain 387 points as trade deficit narrows

Market opened on a negative note in second half of trading session on news that election Commission of Pakistan (ECP) has disqualified PTI chief Imran Khan for making false statements and incorrect declaration, triggering protests in various cities, however value buying came in closing hours of the trade as index managed to close in the green zone.

READ MORE: Pakistan stocks make gains on positive US nuke statement

Major contribution to the index came from HUBC, ENGRO, MCB, MARI & RMPL, as they cumulatively contributed 98.3 points to the index, on the flip side PSO, FFC, FATIMA, MTL & UBL lost value to weigh down on the index by 42 points.

Traded volume and value for the day stood at 290 million shares and Rs.7.87 billion respectively. WTL was today`s volume leader with 31 million shares.

READ MORE: Stocks end down by 193 points on political unrest

KARACHI: Pakistan stocks ended down by 89 points on Thursday after the rupee depreciation eroded confidence of investors.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,137 points from previous day’s closing of 42,226 points, showing a decline of 89 points.

READ MORE: Stocks gain 387 points as trade deficit narrows

Analysts at Arif Habib Limited said that the stock market had a mixed trading session during the day.

The market started out strong, but the Pak rupee’s weakening against the US dollar eroded investor confidence and caused profit-taking, triggering the index to close down. Mainboard volumes were decent on the contrary 3rd tier stocks remained in the limelight.

READ MORE: Pakistan stocks make gains on positive US nuke statement

Sectors contributing to the performance include Technology & Communication (-56.7 points), Cement (-30.0 points), Commercial Banks (-24.4 points), Food & Personal Care Products (-19.8 points) and E&P’s (-18.1 points).

READ MORE: Stocks end down by 193 points on political unrest

Volumes increased from 250.2 million shares to 267.5 million shares (6.9 per cent DoD). The average traded value decreased by -5.7 per cent to USD 28.4 million as against USD 30.1 million.

Stocks that contributed significantly to the volumes are HASCOL, KEL, GTECH, GGL and WTL.

READ MORE: Weekly Review: stocks may move positive on FATF decision

KARACHI: Pakistan stocks gained 387 points on Wednesday owing to positive sentiments prevailed after the trade deficit of the country contracted sharply.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,226 points from previous day’s closing of 41,839 points, showing an increase of 387 points.

READ MORE: Pakistan stocks make gains on positive US nuke statement

Analysts at Arif Habib Limited said that a positive session was witnessed at the PSX on Wednesday.

The market traded in the green zone throughout the day as the trade deficit of Pakistan witnessed a sharp decline of 30.16 percent year on year basis.

READ MORE: Stocks end down by 193 points on political unrest

Investors’ participation remained active in the mainboard as 3rd tier stocks continued to remain as volume board leaders.

Sectors contributing to the performance include Commercial Banks (67.6 points), Cement (67.3 points), E&P’s (64.0 points), Fertilizer (58.3 points) and Automobile Assembler (32.7 points).

READ MORE: Weekly Review: stocks may move positive on FATF decision

Volumes increased from 190.3 million shares to 250.3 million shares (31.5 per cent DoD). The average traded value also increased by 14.0 per cent to USD 30.1 million as against USD 26.4 million.

Stocks that contributed significantly to the volumes are GTECH, WTL, GTECHBR, GGL and DFML.

READ MORE: Stocks end down by 137 points in mixed trading session

KARACHI: Stocks ended with a gain on Tuesday after the US officially issued a positive statement regarding nuclear program of Pakistan.

The benchmark KSE-100 index of Pakistan ended at 41,839 points from previous day’s closing of 41,755 points, showing a gain of 84 points.

READ MORE: Stocks end down by 193 points on political unrest

Analysts at Topline Securities stated that Pakistan equities witnessed a positive day on account of US State Department’s positive statement regarding country’s Nuclear program.

The United States has said that it is confident of Pakistan’s ability to keep its nuclear assets safe and secure, dismissing speculations stirred by President Joe Biden’s off-the-cuff remarks about the country’s nuclear programme.

READ MORE: Weekly Review: stocks may move positive on FATF decision

“The United States is confident of Pakistan’s commitment and its ability to secure nuclear assets,” US State Department spokesperson Vedant Patel told journalists in Washington shortly after a meeting between Ambassador Masood Khan and Counselor Derek Chollet.

Besides, the positive sentiments also prevailed due to likely whitelisting in the upcoming FATF annual review. The official announcement is likely to arrive over the weekend.

READ MORE: Stocks end down by 137 points in mixed trading session

During the day, Tech, E&P & Fertilizer sector stocks contributed positively to the index where TRG, POL, SNGP, DAWH & FFC added 89 points, cumulatively. On the flip side, PSO, NESTLE and EPCL have witnessed some profit taking as they lost 25 points collectively, today.

Over 189 million shares traded today at the bourse while total value clocked in at Rs5.8 billion. WTL led the volumes chart today with trading of 29.8 million shares in it, today.

READ MORE: Stocks gain 79 points in range bound session

KARACHI: Pakistan stocks ended down by 193 points on Monday due to rising political unrest in the country.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,755 points from last Friday’s closing of 41,948 points, showing a decline of 193 points.

READ MORE: Weekly Review: stocks may move positive on FATF decision

Analysts at Arif Habib Limited said that a range bound session was witnessed at the PSX during the day.

The benchmark KSE-100 index shed 193.05 points at the end of the trading session after starting the day in the green due to political unrest.

READ MORE: Stocks end down by 137 points in mixed trading session

The volumes declined dramatically in the main board however, decent volumes were recorded in the 3rd tier stocks.

Sectors contributing to the performance include E&P’s (-49.5 points), Cement (-32.1 points), Technology & Communication (-15.2 points), Commercial Banks (-14.7 points) and Chemical (-14.2 points).

READ MORE: Stocks gain 79 points in range bound session

Volumes decreased from 328.7 million shares to 144.3 million shares (-56.1 per cent DoD). The average traded value decreased by -51.5 per cent to USD 21.3 million as against USD 44.0 million.

Stocks that contributed significantly to the volumes are WTL, DCL, LOTCHEM, HASCOL and TRG.

READ MORE: Pakistan stocks fall 148 points in lackluster trading

Karachi: Analysts at Arif Habib Limited have forecasted a positive trajectory for the stocks in the upcoming week, driven by expectations surrounding the Financial Action Task Force (FATF) decision regarding Pakistan’s anticipated exit from the grey list.

(more…)